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Livermore
Livermore
ZHEN

Whitebox Advisors LLC

SEC CIK
0001257391
Latest filing
Aug 14, 2026

Holdings in Q2 2025

Holdings as of Jun 30, 2025, filed Aug 26, 2026. Long positions only; changes compare share counts with Q1 2025.

Institution overview
Positions
355
+67 vs. Q1 2025
Portfolio value
$3.67B
+$638.3M (+21.0%) vs. Q1 2025
Filed
Aug 26, 2026
AmendedSECSEC
Holdings of Whitebox Advisors LLC in Q2 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
Real Asset Acquisition Corp.G73944103SHS CL A500,000$5.08M0.1%+500,000New–
iShares Inc464286400MSCI BRAZIL ETF174,880$5.05M0.1%+174,880New–
Xometry, Inc.98423FAB5NOTE 1.000% 2/0–$5.00M0.1%–––
FLSFlowserve CorpCOM95,052$4.98M0.1%+95,052NewHistory
AA Mission Acquisition Corp.G1000R101ORD SHS CL A450,000$4.69M0.1%00.0%Unchanged–
Cohen Circle Acquisition CorG3730H106SHS CL A400,000$4.39M0.1%00.0%Unchanged–
Liberty Media Corp530715AL5DEB 3.750% 2/1–$4.37M0.1%–––
ALDFAldel Financial II Inc.CL A400,000$4.20M0.1%+400,000NewHistory
DAAQDigital Asset Acquisition Corp.SHS CL A400,000$4.19M0.1%+400,000NewHistory
BEAGBold Eagle Acquisition Corp.CL A400,000$4.19M0.1%00.0%UnchangedHistory
SPDR Series Trust78468R556SP O&G EXPL PRO32,903$4.14M0.1%+32,903New–
DRDBRoman DBDR Acquisition Corp. IICOM400,000$4.12M0.1%00.0%UnchangedHistory
CHARCharlton Aria Acquisition CorpORD SHS CL A399,000$4.10M0.1%00.0%UnchangedHistory
Willow Lane Acquisition Corp.G9675P102ORD SHS CL A400,000$4.09M0.1%+400,000New–
SVCCStellar V Capital Corp. (Cayman Islands)SHS CL A400,000$4.09M0.1%00.0%UnchangedHistory
DMAADrugs Made In America Acquisition Corp.ORD SHS400,000$4.08M0.1%00.0%UnchangedHistory
RACRithm Acquisition Corp.COM400,000$4.08M0.1%+400,000NewHistory
CCAQCollective Acquisition Corp.COM400,000$4.02M0.1%+400,000NewHistory
SIRISirius XM Holdings Inc.COMMON STOCK171,943$3.95M0.1%+25,916+17.7%AddedHistory
NOEMCO2 Energy Transition Corp.COM390,000$3.93M0.1%00.0%UnchangedHistory
NTWONewbury Street II Acquisition CorpORD SHS CL A375,000$3.86M0.1%+375,000NewHistory
CCOClear Channel Outdoor Holdings, Inc.COM3,233,484$3.78M0.1%+998,984+44.7%AddedHistory
BHCBausch Health Companies Inc.Stock550,829$3.67M0.1%−148,521−21.2%ReducedHistory
LPBBLaunch Two Acquisition Corp.ORD SHS CL A350,000$3.65M0.1%+350,000NewHistory
IMSRTerrestrial Energy Inc.SHS CL A318,914$3.54M0.1%−81,086−20.3%ReducedHistory
Gossamer Bio, Inc.38341PAA0NOTE 5.000% 6/0–$3.39M0.1%–––
HC2 Hldgs Inc404139AG2NOTE 7.500% 8/0–$3.35M0.1%–––
CEPTCantor Equity Partners II, Inc.CL A ORD SHS300,000$3.31M0.1%+300,000NewHistory
DMBBNY Mellon Municipal Bond Infrastructure Fund, Inc.COM SHS320,896$3.28M0.1%−5,014−1.5%ReducedHistory
FTWPresidio Production CoCL A ORD SHS300,000$3.15M0.1%00.0%UnchangedHistory
Inflection PT Acquisition CoG47875128UNIT 03/01/2027300,000$3.15M0.1%+300,000New–
Veritone, Inc.92347MAB6NOTE 1.750%11/1–$3.14M0.1%–––
TDACTranslational Development Acquisition Corp.COM CL A305,000$3.13M0.1%00.0%UnchangedHistory
RDAGRepublic Digital Acquisition CoCOM300,000$3.08M0.1%+300,000NewHistory
Mountain Lake Acquisition Corp.G6301B101SHS CL A300,000$3.08M0.1%00.0%Unchanged–
TAVITavia Acquisition Corp.SHS300,000$3.08M0.1%00.0%UnchangedHistory
GSHRGesher Acquisition Corp. IIUSD CL A ORD SHS300,000$3.04M0.1%+300,000NewHistory
COPLCopley Acquisition CorpORD SHS CL A300,000$3.02M0.1%+300,000NewHistory
PACHUPioneer Acquisition I CorpUNIT 06/16/2030300,000$3.00M0.1%+300,000NewHistory
Cardlytics, Inc.14161WAB1NOTE 1.000% 9/1–$2.88M0.1%–––
VCICOdysseus (Cayman) LtdORD SHS CL A265,000$2.76M0.1%+265,000NewHistory
TONTGraf Global Corp.ORD SHS CL A250,000$2.62M0.1%00.0%UnchangedHistory
OACCOaktree Acquisition Corp. III Life SciencesSHS CL A250,000$2.61M0.1%+250,000NewHistory
GMGeneral Motors CoCOM53,022$2.61M0.1%−45,563−46.2%ReducedHistory
LPAALaunch One Acquisition Corp.SHS CLASS A250,000$2.60M0.1%00.0%UnchangedHistory
FACTFACT II Acquisition Corp.ORD SHS CL A250,000$2.57M0.1%+250,000NewHistory
ATIIArchimedes Tech SPAC Partners II Co.COM250,000$2.56M0.1%+250,000NewHistory
RANGRange Capital Acquisition Corp.ORD SHS250,000$2.55M0.1%+250,000NewHistory
NHICNewHold Investment Corp. IIIORD SHS CL A250,000$2.54M0.1%+250,000NewHistory
OYSEUOyster Enterprises II Acquisition CorpUNIT 05/22/2030250,000$2.53M0.1%+250,000NewHistory
BLUWUBlue Water Acquisition Corp. IIIUNIT 05/23/2030250,000$2.50M0.1%+250,000NewHistory
KSSKOHLS CorpStock290,013$2.46M0.1%+17,000+6.2%AddedHistory
HOUSAnywhere Real Estate Inc.COM675,947$2.45M0.1%+129,705+23.7%AddedHistory
Beyond Meat, Inc.08862EAB5NOTE 3/1–$2.43M0.1%–––
Faro Technologies Inc311642AB8NOTE 5.500% 2/0–$2.41M0.1%–––
KFIIK&F Growth Acquisition Corp. IISHS CL A225,000$2.29M0.1%00.0%UnchangedHistory
Crane HBR Acquisition CorpG24979109CL A225,000$2.27M0.1%+225,000New–
LCCCLakeshore Acquisition III Corp.USD ORD SHS218,500$2.19M0.1%+218,500NewHistory
Liberty Media Corp530715AG6DEB 4.000%11/1–$2.18M0.1%–––
DSMBNY Mellon Strategic Municipal Bond Fund, Inc.COM378,993$2.12M0.1%−377,806−49.9%ReducedHistory
POLEAndretti Acquisition Corp. IIUNIT 99/99/9999200,000$2.08M0.1%+200,000NewHistory
WBDWarner Bros. Discovery, Inc.Stock180,739$2.07M0.1%−1,000−0.6%ReducedHistory
Infleqtion, Inc.G2130T124UNIT 05/14/2030200,000$2.06M0.1%+200,000New–
XRPNUArmada Acquisition Corp. IIUNIT 05/21/2030200,000$2.04M0.1%+200,000NewHistory
ONENONE Nuclear Energy Inc.COM200,000$2.03M0.1%00.0%UnchangedHistory
TVAIUThayer Ventures Acquisition Corp IIUNIT 05/15/2030200,000$2.03M0.1%+200,000NewHistory
iShares Inc464286822MSCI MEXICO ETF31,750$1.92M0.1%+31,750New–
CEPOCantor Equity Partners I, Inc.COM160,000$1.90M0.1%−40,000−20.0%ReducedHistory
SBIWestern Asset Intermediate Muni Fund Inc.COM252,626$1.90M0.1%−18,812−6.9%ReducedHistory
Cree Inc225447AD3NOTE 1.750% 5/0–$1.89M0.1%–––
Paramount Global92556H206CL B143,186$1.85M0.1%+19,463+15.7%Added–
LEOBNY Mellon Strategic Municipals, Inc.COM305,421$1.81M<0.1%+38,121+14.3%AddedHistory
JACSJackson Acquisition Co IICOM SHS CL A175,000$1.80M<0.1%+175,000NewHistory
iShares Inc464286640MSCI CHILE ETF57,000$1.79M<0.1%+57,000New–
CARAvis Budget Group, Inc.COM10,571$1.79M<0.1%−29,583−73.7%ReducedHistory
AXINUAxiom Intelligence Acquisition Corp 1UNIT 06/10/2030175,000$1.77M<0.1%+175,000NewHistory
BACCUBlue Acquisition Corp/CaymanUNIT 06/02/2030175,000$1.76M<0.1%+175,000NewHistory
Tpi Composites, Inc87266JAB0NOTE 5.250% 3/1–$1.73M<0.1%–––
CXEMFS High Income Municipal TrustSH BEN INT483,300$1.73M<0.1%+33,258+7.4%AddedHistory
Voyager Acquisition CorpG93A7H104CL A150,000$1.56M<0.1%00.0%Unchanged–
Jena Acquisition Corp IIG5093B121UNIT 99/99/9999150,000$1.54M<0.1%+150,000New–
CRAQUCal Redwood Acquisition Corp.UNIT 05/15/2030150,000$1.54M<0.1%+150,000NewHistory
MERCMercer International Inc.COM439,423$1.54M<0.1%+180,409+69.7%AddedHistory
EGHAUEGH Acquisition Corp.UNIT 99/99/9999150,000$1.53M<0.1%+150,000NewHistory
Pelican Acquisition CorpG6993G129UNIT 05/13/2030150,000$1.52M<0.1%+150,000New–
COLAColumbus Acquisition Corp/Cayman IslandsSHS150,000$1.52M<0.1%00.0%UnchangedHistory
WTGUUWintergreen Acquisition Corp.UNIT 05/21/2030150,000$1.51M<0.1%+150,000NewHistory
FIGXUFIGX Capital Acquisition Corp.UNIT 06/17/2030150,000$1.50M<0.1%+150,000NewHistory
CHPGChampionsGate Acquisition CorpSHS CL A150,000$1.50M<0.1%+150,000NewHistory
BlackRock New York Municipal Income Trust09248L106SH BEN INT152,507$1.47M<0.1%−285−0.2%Reduced–
RRyder System IncCOM9,014$1.43M<0.1%+500+5.9%AddedHistory
WHRWhirlpool CorpStock13,813$1.40M<0.1%+2,000+16.9%AddedHistory
MBIMbia IncCOM317,106$1.38M<0.1%+22,675+7.7%AddedHistory
KKRKKR & Co. Inc.COM10,000$1.33M<0.1%−40,000−80.0%ReducedHistory
CAEPCantor Equity Partners III, Inc.SHS CL A125,000$1.32M<0.1%+125,000NewHistory
CAPNCayson Acquisition CorpSHS125,000$1.29M<0.1%+125,000NewHistory
RIBBRibbon Acquisition Corp.ORD SHS CL A125,000$1.26M<0.1%00.0%UnchangedHistory
IPEXInflection Point Acquisition Corp. VORD SHS CL A125,000$1.26M<0.1%+125,000NewHistory
LWACULightWave Acquisition Corp.UNIT 06/06/2030125,000$1.26M<0.1%+125,000NewHistory
VLOSVelos Acquisition I Corp.CL A110,000$1.24M<0.1%−40,000−26.7%ReducedHistory

Options (27)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Whitebox Advisors LLC in Q2 2025
SecurityClassPutsCalls
SPYSPDR S&P 500 ETF TrustETF$525.2M$123.6M
IBITiShares Bitcoin Trust ETFETF$122.4M–
VanEck ETF Trust92189H607OIL SERVICES ETF$103.6M–
iShares Russell 2000 ETF464287655ETF$75.5M–
AAPLApple Inc.Stock$61.6M–
iShares Tr464287184CHINA LG-CAP ETF$36.8M–
MARAMARA Holdings, Inc.COM$20.1M–
RIVNRivian Automotive, Inc.Stock$20.0M–
SPDR Series Trust78468R556SP O&G EXPL PRO$18.9M–
LUMNLumen Technologies, Inc.Stock$18.8M–
NVDANVIDIA CorpStock$15.8M–
SRPTSarepta Therapeutics, Inc.COM$12.2M–
HTZHertz Global Holdings, IncCOM NEW$10.7M–
HLFHerbalife Ltd.COM SHS$8.36M–
XRXXerox Holdings CorpCOM NEW$7.91M–
RUNSunrun Inc.COM$7.87M–
MPTMedical Properties Trust IncCOM$6.46M–
AMCAMC Entertainment Holdings, Inc.CL A NEW$6.20M–
JBLUJetBlue Airways CorpCOM–$5.29M
BYNDBeyond Meat, Inc.COM$3.34M–
SABRSabre CorpCOM–$3.16M
SVCService Properties TrustCOM SH BEN INT–$2.99M
RIGTransocean Ltd.REGISTERED SHS$2.59M–
NIONIO Inc.ADR$1.72M–
NFENew Fortress Energy Inc.COM CL A$1.33M–
TEADTeads Holding Co.COM$1.24M–
WOLFWolfspeed, Inc.Stock$997.0K$239.3K

Sold out since Q1 2025 (58)

Positions held at the end of Q1 2025 that are gone from this filing.

Positions of Whitebox Advisors LLC sold out since Q1 2025
SecurityClassShares in Q1 2025Value in Q1 2025% of portfolio in Q1 2025History
BERYBerry Global Group, Inc.COM2,037,826$142.3M4.7%History
INSMED Inc457669AB5NOTE 0.750% 6/0–$104.5M3.4%–
SPYSPDR S&P 500 ETF TrustETF136,000$76.1M2.5%History
Cinemark Hldgs Inc17243VAB8NOTE 4.500% 8/1–$64.5M2.1%–
ITCIIntra-Cellular Therapies, Inc.COM275,001$36.3M1.2%History
HCI Group, Inc.40416EAF0NOTE 4.750% 6/0–$30.2M1.0%–
Cryolife Inc228903AB6NOTE 4.250% 7/0–$21.4M0.7%–
Wayfair Inc.94419LAM3NOTE 0.625%10/0–$19.4M0.6%–
Tandem Diabetes Care Inc875372AD6NOTE 1.500% 3/1–$18.4M0.6%–
LivaNova PLC53802LAB8NOTE 2.500% 3/1–$15.5M0.5%–
Transocean Ltd.893830BW8DEB 4.625% 9/3–$8.84M0.3%–
Repligen Corp759916AD1NOTE 1.000%12/1–$8.62M0.3%–
Omeros Corp682143AG7NOTE 5.250% 2/1–$8.01M0.3%–
NVDANVIDIA CorpStock70,000$7.59M0.2%History
FERAUFifth Era Acquisition Corp IUNIT 99/99/9999750,000$7.55M0.2%History
Enovis CORP194014AB2NOTE 3.875%10/1–$4.59M0.2%–
ALDFUAldel Financial II Inc.UNIT 09/26/2031400,000$4.10M0.1%History
Willow Lane Acquisition Corp.G9675P128UNIT 99/99/9999400,000$4.05M0.1%–
Rithm Acquisition Corp.G75751126UNIT 99/99/9999400,000$4.04M0.1%–
TSLATesla, Inc.Stock15,000$3.89M0.1%History
NTWOUNewbury Street II Acquisition CorpUNIT 10/23/2029375,000$3.78M0.1%History
LPBBULaunch Two Acquisition Corp.UNIT 08/22/2029350,000$3.57M0.1%History
ITGRInteger Holdings CorpCOM28,832$3.40M0.1%History
GSHRUGesher Acquisition Corp. IIUNIT 03/11/2030300,000$3.01M0.1%History
Vine Hill Cap Invt Corp.G93Y09123UNIT 09/06/2026265,000$2.72M0.1%–
OACCUOaktree Acquisition Corp. III Life SciencesUNIT 10/04/2029250,000$2.61M0.1%History
RANGURange Capital Acquisition Corp.UNIT 12/11/2029250,000$2.57M0.1%History
BSIIBlack Spade Acquisition II CoCL A250,000$2.53M0.1%History
FACTUFACT II Acquisition Corp.UNIT 99/99/9999250,000$2.52M0.1%History
ATIIUArchimedes Tech SPAC Partners II Co.UNIT 10/15/2029250,000$2.52M0.1%History
NHICUNewHold Investment Corp. IIIUNIT 99/99/9999250,000$2.52M0.1%History
POLEUAndretti Acquisition Corp. IIUNIT 99/99/9999200,000$2.04M0.1%History
Jackson Acquisition Co IIG4992A201UNIT 99/99/9999175,000$1.80M0.1%–
UCFICN Healthy Food Tech Group Corp.COM150,000$1.57M0.1%History
NQPNuveen Pennsylvania Quality Municipal Income FundCOM128,019$1.44M<0.1%History
BKHABlack Hawk Acquisition CorpUSD CL A SHS125,000$1.32M<0.1%History
CAPNUCayson Acquisition CorpUNIT 99/99/9999125,000$1.31M<0.1%History
IPEXUInflection Point Acquisition Corp. VUNIT 01/23/2030125,000$1.27M<0.1%History
FVNNUFuture Vision II Acquisition Corp.UNIT 06/20/2029100,000$1.03M<0.1%History
FWRDForward Air CorpCOM41,136$826.4K<0.1%History
FLFoot Locker, Inc.COM54,579$769.6K<0.1%History
AALAmerican Airlines Group Inc.Stock50,000$527.5K<0.1%History
FMNFederated Hermes Premier Municipal Income FundCOM46,426$504.2K<0.1%History
SK Growth Opportunities CorpG8192N111*W EXP 06/28/202100,000$65.0K<0.1%–
ULYXUrgent.ly Inc.COM NEW15,435$62.5K<0.1%History
Aimfinity Investment Corp. IG0135E126*W EXP 04/21/202336,000$26.1K<0.1%–
Global Blockchain Acqui Corp37961B112RIGHT 05/09/2027225,000$22.3K<0.1%–
QVCGAOld QVC Group, Inc.COM SER A100,000$20.1K<0.1%History
Black Spade Acquisition II CG1153L117*W EXP 02/15/20283,333$18.3K<0.1%–
Marblegate Acquisition Corp.56608A113*W EXP 08/31/20281,375$13.0K<0.1%–
Bukit Jalil GBL AcquisitionG1676M121RIGHT 05/02/202450,000$13.0K<0.1%–
SMNRWSemnur Pharmaceuticals, Inc.*W EXP 03/28/202191,579$11.3K<0.1%History
Global Blockchain Acqui Corp37961B120*W EXP 05/09/202225,000$6.75K<0.1%–
AI Transn Acquisition CorpG01490104RIGHT 09/01/202820,000$3.10K<0.1%–
REEWFCartesian Growth Corp II*W EXP 07/12/20233,333$2.35K<0.1%History
Ocean Biomedical, Inc.67644C112*W EXP 02/14/20246,500$1.24K<0.1%–
Vast Renewables LimitedQ9379E113*W EXP 07/01/20234,875$1.18K<0.1%–
Heramba Elec PLCG4411J106*W EXP 07/26/20223,250$235<0.1%–