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Whitebox Advisors LLC

SEC CIK
0001257391
Latest filing
Aug 14, 2026

Holdings in Q3 2025

Holdings as of Sep 30, 2025, filed Aug 26, 2026. Long positions only; changes compare share counts with Q2 2025.

Institution overview
Positions
392
+37 vs. Q2 2025
Portfolio value
$5.38B
+$1.70B (+46.3%) vs. Q2 2025
Filed
Aug 26, 2026
AmendedSECSEC
Holdings of Whitebox Advisors LLC in Q3 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
Western Digital Corp958102AT2NOTE 3.000%11/1–$655.6M12.2%–––
Bloom Energy Corp093712AM9NOTE 3.000% 6/0–$413.5M7.7%–––
Bloom Energy Corp093712AK3NOTE 3.000% 6/0–$292.0M5.4%–––
Snowflake Inc.833445AB5NOTE 10/0–$198.8M3.7%–New–
Strategy Inc594972AN1NOTE 2.250% 6/1–$198.6M3.7%–––
VRNAVerona Pharma plcSPONSORED ADS1,566,501$167.2M3.1%+1,566,501NewHistory
Super Micro Computer, Inc.86800UAB0NOTE 3.500% 3/0163,101,000$166.2M3.1%−10,000,000−5.8%Reduced–
Lumentum Hldgs Inc55024UAH2NOTE 1.500%12/1–$160.4M3.0%–––
Coinbase Global, Inc.19260QAF4NOTE 0.250% 4/0–$140.3M2.6%–––
Trip.com Group Ltd89677QAB3NOTE 0.750% 6/1–$135.1M2.5%–––
Snowflake Inc.833445AD1NOTE 10/0–$131.8M2.5%–New–
Alibaba Group Hldg Ltd01609WBG6NOTE 0.500% 6/0–$129.9M2.4%–––
Sphere Entertainment Co.55826TAB8NOTE 3.500%12/0–$125.9M2.3%–––
EchoStar CORP278768AB2NOTE 3.875%11/3–$103.8M1.9%–––
JetBlue Airways Corp477143AR2NOTE 2.500% 9/0–$97.4M1.8%–New–
LBRDKLiberty Broadband CorpCOM SER C1,451,280$92.2M1.7%+66,672+4.8%AddedHistory
Strategy Inc594972AQ4NOTE 0.625% 9/1–$69.8M1.3%–New–
Cyberark Software LtdM2682V108SHS138,001$66.7M1.2%+138,001New–
COOPMaverick Merger Sub 2, LLCCOM315,155$66.4M1.2%−169,695−35.0%ReducedHistory
GTLSChart Industries IncCOM317,606$63.6M1.2%+317,606NewHistory
WNSWNS (Holdings) LtdCOM SHS779,591$59.5M1.1%+779,591NewHistory
Wayfair Inc.94419LAR2NOTE 3.500%11/1–$59.2M1.1%–––
Sunrun Inc.86771WAD7NOTE 4.000% 3/0–$57.2M1.1%–––
TFPMTriple Flag Precious Metals Corp.Stock1,798,962$52.6M1.0%−611,095−25.4%ReducedHistory
Rivian Automotive, Inc.76954AAD5NOTE 3.625%10/1–$52.1M1.0%–––
GPORGulfport Energy CorpCOMMON SHARES274,627$49.7M0.9%+164,178+148.6%AddedHistory
Encore Cap Group Inc292554AP7NOTE 4.000% 3/1–$49.4M0.9%–––
Semtech Corp816850AF8NOTE 1.625%11/0–$47.2M0.9%–––
Lumentum Hldgs Inc55024UAD1NOTE 0.500%12/1–$43.4M0.8%–––
MARA Holdings, Inc.565788AD8NOTE 2.125% 9/0–$43.4M0.8%–New–
Collegium Pharmaceutical, Inc19459JAC8NOTE 2.875% 2/1–$42.7M0.8%–––
Sea Ltd81141RAF7NOTE 2.375%12/0–$39.7M0.7%–––
Freshpet, Inc.358039AB1NOTE 3.000% 4/0–$35.3M0.7%–––
Coinbase Global, Inc.19260QAB3NOTE 0.500% 6/0–$31.9M0.6%–––
WisdomTree, Inc.97717PAH7NOTE 3.250% 8/1–$31.3M0.6%–New–
HEI.AHeico CorpCL A122,799$31.2M0.6%+3,845+3.2%AddedHistory
Tyler Tex Indpt SCH Dist902252AB1NOTE 0.250% 3/1–$28.4M0.5%–––
Herbalife Ltd.42703MAF0NOTE 4.250% 6/1–$27.3M0.5%–––
GRFSGrifols SASP ADR REP B NVT2,621,468$26.1M0.5%00.0%UnchangedHistory
KKellanovaStock315,001$25.8M0.5%−68,845−17.9%ReducedHistory
DCHDauch CorpCOM4,221,891$25.4M0.5%−1,377,123−24.6%ReducedHistory
PTC Therapeutics, Inc.69366JAD3NOTE 1.500% 9/1–$24.4M0.5%–––
FOXFox CorpCL B COM422,182$24.2M0.4%+422,182NewHistory
Pinnacle West Cap Corp723484AK7NOTE 4.750% 6/1–$22.8M0.4%–––
Nabors Inds Inc62957HAL9NOTE 1.750% 6/1–$22.7M0.4%–––
INFAInformatica Inc.COM CL A912,963$22.7M0.4%−1,137,038−55.5%ReducedHistory
AMC Networks Inc00164VAJ2NOTE 4.250% 2/1–$22.6M0.4%–––
LBRDALiberty Broadband CorpCOM SER A348,076$22.0M0.4%00.0%UnchangedHistory
On Semiconductor Corp682189AS4NOTE 5/0–$21.6M0.4%–––
Xerox Holdings Corp98421MAE6NOTE 3.750% 3/1–$21.0M0.4%–––
Strategy Inc594972AL5NOTE 0.875% 3/1–$20.5M0.4%–––
Wec Energy Group, Inc.92939UAP1NOTE 4.375% 6/0–$20.1M0.4%–––
Southern Co842587DZ7NOTE 4.500% 6/1–$20.0M0.4%–––
UPWheels Up Experience Inc.COM CL A28,365,086$19.3M0.4%−10,295,817−26.6%ReducedHistory
Nextera Energy Cap Hldgs Inc65339KCY4NOTE 3.000% 3/0–$18.0M0.3%–––
CHRDChord Energy CorpCOM NEW174,476$17.3M0.3%00.0%UnchangedHistory
PureCycle Technologies, Inc.74623VAB9NOTE 7.250% 8/1–$16.2M0.3%–––
Evolent Health, Inc.30050BAJ0DEBT 4.500% 8/1–$15.5M0.3%–New–
Macom Tech Solutions Hldgs I55405YAB6NOTE 0.250% 3/1–$15.5M0.3%–––
NIO Inc.62914VAK2NOTE 4.625%10/1–$14.6M0.3%–––
Zynex Inc98986MAD5NOTE 5.000% 5/1–$14.1M0.3%–––
Omeros Corp682143AK8NOTE 9.500% 6/1–$13.7M0.3%–––
CIVICivitas Resources, Inc.EQUITY US CM400,000$13.0M0.2%+400,000NewHistory
PPLIPeople IncCOM NEW375,808$12.8M0.2%+55,900+17.5%AddedHistory
GLIBKLiberty Capital CorpSER C GCI GROUP342,215$12.8M0.2%+342,215NewHistory
VALValaris LtdCL A253,925$12.4M0.2%−205,186−44.7%ReducedHistory
BLCOBausch & Lomb CorpCOMMON SHARES807,125$12.2M0.2%−484,520−37.5%ReducedHistory
UAAUnder Armour, Inc.Stock2,251,897$11.2M0.2%+2,251,897NewHistory
CSTMConstellium SECL A SHS661,260$9.84M0.2%−181,729−21.6%ReducedHistory
SVCService Properties TrustCOM SH BEN INT3,496,236$9.47M0.2%−255,063−6.8%ReducedHistory
Two HBRS Invt Corp90187BAB7NOTE 6.250% 1/1–$9.26M0.2%–––
NWSANews CorpCL A280,440$8.61M0.2%+280,440NewHistory
Hertz Corp428040DE6NOTE 8.000% 7/1–$8.48M0.2%–––
VNMEVendome Acquisition Corp ICOM CL A825,000$8.19M0.2%+825,000NewHistory
TACHTitan Acquisition Corp.CL A800,000$8.10M0.2%00.0%UnchangedHistory
Oatly Group AB67421JAC2NOTE 9.250% 9/1–$8.04M0.1%–––
HDRNHadron Energy, Inc.ORD SHS CL A760,000$8.02M0.1%00.0%UnchangedHistory
Pinduoduo Inc722304AC6NOTE 12/0–$7.93M0.1%–––
CYHCommunity Health Systems IncCOM2,385,086$7.66M0.1%+250,000+11.7%AddedHistory
FERAFifth Era Acquisition Corp IORD SHS CL A750,000$7.63M0.1%00.0%UnchangedHistory
MGMMGM Resorts InternationalStock214,161$7.42M0.1%+52,831+32.7%AddedHistory
Groupon, Inc.399473AH0NOTE 6.250% 3/1–$7.31M0.1%–––
Upstart Hldgs Inc91680MAB3NOTE 0.250% 8/1–$7.20M0.1%–––
SOULSoulpower Acquisition Corp.USD CL A ORD SHS650,000$6.56M0.1%00.0%UnchangedHistory
SZZLSizzle Acquisition Corp. IIUSD CL A ORD SHS650,000$6.55M0.1%00.0%UnchangedHistory
BCARD. Boral ARC Acquisition I Corp.SHS CL A650,000$6.45M0.1%+650,000NewHistory
Cardlytics, Inc.14161WAD7NOTE 4.250% 4/0–$6.36M0.1%–––
Carnival Corp Ltd.14365C103ADR237,685$6.28M0.1%−181,922−43.4%Reduced–
Li Auto Inc.50202MAB8NOTE 0.250% 5/0–$6.27M0.1%–––
WENNWEN Acquisition CorpCOM600,000$6.07M0.1%+600,000NewHistory
Beyond Meat, Inc.08862EAB5NOTE 3/1–$6.05M0.1%–––
GTGoodyear Tire & Rubber CoCOM786,089$5.88M0.1%+136,659+21.0%AddedHistory
ACIAlbertsons Companies, Inc.COMMON STOCK334,582$5.86M0.1%+37,667+12.7%AddedHistory
Veritone, Inc.92347MAB6NOTE 1.750%11/1–$5.74M0.1%–––
Luminar Technologies, Inc.550424AE5DEBT 11.500% 1/1–$5.64M0.1%–––
NCMINational CineMedia, Inc.COM NEW1,242,084$5.60M0.1%00.0%UnchangedHistory
Factorial Energy Inc.G19307100COM CL A550,000$5.52M0.1%+550,000New–
HOUSAnywhere Real Estate Inc.COM512,880$5.43M0.1%−163,067−24.1%ReducedHistory
SIMASIM Acquisition Corp. ISHS CL A500,000$5.27M0.1%00.0%UnchangedHistory
NPACNew Providence Acquisition Corp. III/CaymanCOM500,000$5.08M0.1%00.0%UnchangedHistory

Options (36)

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 Q3 2025
SecurityClassPutsCalls
SPYSPDR S&P 500 ETF TrustETF$433.0M–
IBITiShares Bitcoin Trust ETFETF$130.0M–
iShares Russell 2000 ETF464287655ETF$121.0M–
AAPLApple Inc.Stock$101.9M–
VanEck ETF Trust92189H607OIL SERVICES ETF$59.2M–
SMCISuper Micro Computer, Inc.Stock$57.5M–
MARAMARA Holdings, Inc.COM$52.4M–
TSLATesla, Inc.Stock$44.5M–
NVDANVIDIA CorpStock$37.3M–
SPDR Series Trust78468R556SP O&G EXPL PRO$26.4M–
LUMNLumen Technologies, Inc.Stock$26.3M–
KKRKKR & Co. Inc.COM$26.0M–
RIVNRivian Automotive, Inc.Stock$21.4M–
KKellanovaStock$19.0M–
RUNSunrun Inc.COM$16.6M–
SRPTSarepta Therapeutics, Inc.COM$15.6M–
RKTRocket Companies, Inc.Stock$13.6M–
HTZHertz Global Holdings, IncCOM NEW$11.4M–
MPTMedical Properties Trust IncCOM$9.00M–
HLFHerbalife Ltd.COM SHS$8.19M–
AMCAMC Entertainment Holdings, Inc.CL A NEW$8.06M–
XRXXerox Holdings CorpCOM NEW$7.52M–
JBLUJetBlue Airways CorpCOM–$6.15M
WOLFWolfspeed, Inc.COMMON STOCK$4.84M$726.0K
NIONIO Inc.ADR$3.70M–
SVCService Properties TrustCOM SH BEN INT–$3.39M
RIGTransocean Ltd.REGISTERED SHS$3.12M–
SABRSabre CorpCOM–$1.83M
BYNDBeyond Meat, Inc.COM$1.81M–
NFENew Fortress Energy Inc.COM CL A$884.0K–
TEADTeads Holding Co.COM$825.0K–
AISPWAirship AI Holdings, Inc.*W EXP 12/21/202–$36.3K
AIRJWAirJoule Technologies Corp.*W EXP 03/15/202–$35.0K
A Paradise Acquisition CorpG04819119RIGHT 07/29/2025–$31.0K
AMODWAlpha Modus Holdings, Inc.*W EXP 12/13/202–$5.47K
AERTWAeries Technology, Inc.*W EXP 11/06/202–$2.27K

Sold out since Q2 2025 (75)

Positions held at the end of Q2 2025 that are gone from this filing.

Positions of Whitebox Advisors LLC sold out since Q2 2025
SecurityClassShares in Q2 2025Value in Q2 2025% of portfolio in Q2 2025History
CHXChampionX CorpCOM3,271,356$81.3M2.2%History
AZEKAZEK Co Inc.CL A1,073,501$58.3M1.6%History
American Airls Group Inc02376RAF9NOTE 6.500% 7/0–$57.4M1.6%–
Sarepta Therapeutics, Inc.803607AD2NOTE 1.250% 9/1–$40.9M1.1%–
BPMCBlueprint Medicines CorpCOM310,001$39.7M1.1%History
SWTXSpringWorks Therapeutics, Inc.COM795,191$37.4M1.0%History
JD.com, Inc.47215PAJ5NOTE 0.250% 6/0–$28.6M0.8%–
Novavax Inc670002AD6NOTE 5.000%12/1–$27.5M0.7%–
Evergy, Inc.30034WAD8NOTE 4.500%12/1–$26.3M0.7%–
Wolfspeed, Inc.977852AD4NOTE 1.875%12/0–$21.3M0.6%–
Array Technologies, Inc.04271TAB6NOTE 1.000%12/0–$17.1M0.5%–
Canadian Solar Inc.136635AG4NOTE 2.500%10/0–$13.8M0.4%–
STRSitio Royalties Corp.CLASS A COM721,581$13.3M0.4%History
HESHess CorpStock83,669$11.6M0.3%History
NENoble Corp plcORD SHS A365,083$9.69M0.3%History
VanEck ETF Trust92189H607OIL SERVICES ETF40,000$9.21M0.3%–
AAPLApple Inc.Stock40,000$8.21M0.2%History
Encore Cap Group Inc292554AM4NOTE 3.250%10/0–$7.87M0.2%–
Five9, Inc.338307AF8NOTE 1.000% 3/1–$6.36M0.2%–
WENNUWEN Acquisition CorpUNIT 05/16/2030600,000$6.34M0.2%History
Cartesian Growth Corp IIIG19307118UNIT 02/28/2032550,000$5.57M0.2%–
FLSFlowserve CorpCOM95,052$4.98M0.1%History
Cohen Circle Acquisition CorG3730H106SHS CL A400,000$4.39M0.1%–
SPDR Series Trust78468R556SP O&G EXPL PRO32,903$4.14M0.1%–
HC2 Hldgs Inc404139AG2NOTE 7.500% 8/0–$3.35M0.1%–
Inflection PT Acquisition CoG47875128UNIT 03/01/2027300,000$3.15M0.1%–
PACHUPioneer Acquisition I CorpUNIT 06/16/2030300,000$3.00M0.1%History
Cardlytics, Inc.14161WAB1NOTE 1.000% 9/1–$2.88M0.1%–
OYSEUOyster Enterprises II Acquisition CorpUNIT 05/22/2030250,000$2.53M0.1%History
BLUWUBlue Water Acquisition Corp. IIIUNIT 05/23/2030250,000$2.50M0.1%History
KSSKOHLS CorpStock290,013$2.46M0.1%History
Faro Technologies Inc311642AB8NOTE 5.500% 2/0–$2.41M0.1%–
Infleqtion, Inc.G2130T124UNIT 05/14/2030200,000$2.06M0.1%–
XRPNUArmada Acquisition Corp. IIUNIT 05/21/2030200,000$2.04M0.1%History
TVAIUThayer Ventures Acquisition Corp IIUNIT 05/15/2030200,000$2.03M0.1%History
Cree Inc225447AD3NOTE 1.750% 5/0–$1.89M0.1%–
Paramount Global92556H206CL B143,186$1.85M0.1%–
AXINUAxiom Intelligence Acquisition Corp 1UNIT 06/10/2030175,000$1.77M<0.1%History
BACCUBlue Acquisition Corp/CaymanUNIT 06/02/2030175,000$1.76M<0.1%History
Tpi Composites, Inc87266JAB0NOTE 5.250% 3/1–$1.73M<0.1%–
CRAQUCal Redwood Acquisition Corp.UNIT 05/15/2030150,000$1.54M<0.1%History
EGHAUEGH Acquisition Corp.UNIT 99/99/9999150,000$1.53M<0.1%History
Pelican Acquisition CorpG6993G129UNIT 05/13/2030150,000$1.52M<0.1%–
WTGUUWintergreen Acquisition Corp.UNIT 05/21/2030150,000$1.51M<0.1%History
FIGXUFIGX Capital Acquisition Corp.UNIT 06/17/2030150,000$1.50M<0.1%History
KKRKKR & Co. Inc.COM10,000$1.33M<0.1%History
LWACULightWave Acquisition Corp.UNIT 06/06/2030125,000$1.26M<0.1%History
MCGAUYorkville Acquisition Corp.UNIT 06/06/2030100,000$1.13M<0.1%History
OBAWUOxley Bridge Acquisition LtdUNIT 06/17/2030100,000$1.00M<0.1%History
RTACRenatus Tactical Acquisition Corp ICOM80,000$944.0K<0.1%History
PCKPIMCO California Municipal Income Fund IICOM149,518$801.4K<0.1%History
PCAPUProCap Acquisition CorpUNIT 05/16/203070,281$753.4K<0.1%History
Simplify Exchange Traded Fun82889N525MBS ETF11,306$566.3K<0.1%–
HYACHaymaker Acquisition Corp VCLASS A50,000$555.0K<0.1%History
NNNextnav Inc.COMMON STOCK36,299$551.7K<0.1%History
DTSQDT Cloud Star Acquisition CorpSHS50,000$519.0K<0.1%History
HPPHudson Pacific Properties, Inc.COM146,560$401.6K<0.1%History
FAROFaro Technologies IncCOM8,132$357.2K<0.1%History
PNFPIMCO New York Municipal Income FundCOM45,163$315.7K<0.1%History
PNIPIMCO New York Municipal Income Fund IICOM46,192$310.4K<0.1%History
Cohen Circle Acquisition CorG3730H114*W EXP 01/31/202150,000$300.0K<0.1%–
LCIDLucid Group, Inc.COM142,100$299.8K<0.1%History
AMCAMC Entertainment Holdings, Inc.CL A NEW64,144$198.8K<0.1%History
PYNPIMCO New York Municipal Income Fund IIICOM33,371$174.9K<0.1%History
OPIOffice Properties Income TrustCOM SHS BEN INT291,197$71.9K<0.1%History
FLYYSpirit Aviation Holdings, Inc.COM12,182$61.7K<0.1%History
AISPWAirship AI Holdings, Inc.*W EXP 12/21/20221,750$43.3K<0.1%History
AIRJWAirJoule Technologies Corp.*W EXP 03/15/20246,500$30.2K<0.1%History
Distoken Acquisition CorpG27740136RIGHT 99/99/9999100,000$29.0K<0.1%–
Gold Royalty Corp.38071H122*W EXP 05/31/20236,032$12.6K<0.1%–
Distoken Acquisition CorpG27740102*W EXP 11/30/202100,000$12.0K<0.1%–
AMODWAlpha Modus Holdings, Inc.*W EXP 12/13/20269,750$7.74K<0.1%History
Digiasia Corp.G27617110*W EXP 04/02/202116,194$5.80K<0.1%–
Ys Biopharma Co LtdG9845F117*W EXP 03/15/202125,000$4.99K<0.1%–
AERTWAeries Technology, Inc.*W EXP 11/06/20256,416$1.63K<0.1%History