Whitebox Advisors LLC
- SEC CIK
- 0001257391
- Latest filing
- Aug 14, 2026
Holdings in Q4 2025
Holdings as of Dec 31, 2025, filed Aug 26, 2026. Long positions only; changes compare share counts with Q3 2025.
- Positions
- 466
- +74 vs. Q3 2025
- Portfolio value
- $6.00B
- +$619.6M (+11.5%) vs. Q3 2025
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| CSTMConstellium SE | CL A SHS | 499,660 | $9.42M | 0.2% | −161,600−24.4% | Reduced | History |
| Hertz Corp428040DE6 | NOTE 8.000% 7/1 | – | $10.1M | 0.2% | – | – | – |
| MGMMGM Resorts International | Stock | 286,050 | $10.4M | 0.2% | +71,889+33.6% | Added | History |
| WBDWarner Bros. Discovery, Inc. | Stock | 400,001 | $11.5M | 0.2% | +340,262+569.6% | Added | History |
| CIVICivitas Resources, Inc. | EQUITY US CM | 427,887 | $11.6M | 0.2% | +27,887+7.0% | Added | History |
| Pinnacle West Cap Corp723484AK7 | NOTE 4.750% 6/1 | – | $12.0M | 0.2% | – | – | – |
| Tyler Tex Indpt SCH Dist902252AB1 | NOTE 0.250% 3/1 | – | $12.5M | 0.2% | – | – | – |
| Xerox Holdings Corp98421MAE6 | NOTE 3.750% 3/1 | – | $13.0M | 0.2% | – | – | – |
| Strategy Inc594972AL5 | NOTE 0.875% 3/1 | – | $13.5M | 0.2% | – | – | – |
| On Semiconductor Corp682189AS4 | NOTE 5/0 | – | $14.9M | 0.2% | – | – | – |
| Collegium Pharmaceutical, Inc19459JAC8 | NOTE 2.875% 2/1 | – | $15.1M | 0.3% | – | – | – |
| Granite Constr Inc387328AF4 | NOTE 3.250% 6/1 | – | $15.9M | 0.3% | – | New | – |
| CHRDChord Energy Corp | COM NEW | 174,476 | $16.2M | 0.3% | 00.0% | Unchanged | History |
| BLCOBausch & Lomb Corp | COMMON SHARES | 951,213 | $16.2M | 0.3% | +144,088+17.9% | Added | History |
| LBRDALiberty Broadband Corp | COM SER A | 348,076 | $16.8M | 0.3% | 00.0% | Unchanged | History |
| DCHDauch Corp | COM | 3,243,553 | $20.8M | 0.3% | −978,338−23.2% | Reduced | History |
| IREN Ltd46270CAB5 | NOTE 3.250% 6/1 | – | $23.9M | 0.4% | – | New | – |
| WisdomTree, Inc.97717PAH7 | NOTE 3.250% 8/1 | – | $24.0M | 0.4% | – | – | – |
| Nabors Inds Inc62957HAL9 | NOTE 1.750% 6/1 | – | $24.1M | 0.4% | – | – | – |
| AMC Networks Inc00164VAJ2 | NOTE 4.250% 2/1 | – | $24.2M | 0.4% | – | – | – |
| GRFSGrifols SA | SP ADR REP B NVT | 2,621,468 | $24.5M | 0.4% | 00.0% | Unchanged | History |
| PTC Therapeutics, Inc.69366JAD3 | NOTE 1.500% 9/1 | – | $25.9M | 0.4% | – | – | – |
| CDTXCidara Therapeutics, Inc. | COM NEW | 125,001 | $27.6M | 0.5% | +125,001 | New | History |
| Wolfspeed, Inc.977852AP7 | NOTE 2.500% 6/1 | – | $30.9M | 0.5% | – | New | – |
| EXASExact Sciences Corp | COM | 307,001 | $31.2M | 0.5% | +307,001 | New | History |
| HEI.AHeico Corp | CL A | 124,737 | $31.5M | 0.5% | +1,938+1.6% | Added | History |
| CFLTConfluent, Inc. | CLASS A COM | 1,054,747 | $31.9M | 0.5% | +1,054,747 | New | History |
| FOXFox Corp | CL B COM | 518,428 | $33.7M | 0.6% | +96,246+22.8% | Added | History |
| MARA Holdings, Inc.565788AD8 | NOTE 2.125% 9/0 | – | $33.7M | 0.6% | – | – | – |
| Herbalife Ltd.42703MAF0 | NOTE 4.250% 6/1 | – | $34.8M | 0.6% | – | – | – |
| Freshpet, Inc.358039AB1 | NOTE 3.000% 4/0 | – | $36.7M | 0.6% | – | – | – |
| Sunrun Inc.86771WAD7 | NOTE 4.000% 3/0 | – | $41.8M | 0.7% | – | – | – |
| Strategy Inc594972AQ4 | NOTE 0.625% 9/1 | – | $43.1M | 0.7% | – | – | – |
| Cleanspark, Inc.18452BAC4 | NOTE 6/1 | – | $46.7M | 0.8% | – | New | – |
| GPORGulfport Energy Corp | COMMON SHARES | 224,627 | $46.7M | 0.8% | −50,000−18.2% | Reduced | History |
| TFPMTriple Flag Precious Metals Corp. | Stock | 1,526,630 | $50.7M | 0.8% | −272,332−15.1% | Reduced | History |
| Encore Cap Group Inc292554AP7 | NOTE 4.000% 3/1 | – | $52.2M | 0.9% | – | – | – |
| Upstart Hldgs Inc91680MAF4 | NOTE 1.000%11/1 | – | $52.9M | 0.9% | – | New | – |
| Omeros Corp682143AK8 | NOTE 9.500% 6/1 | – | $54.0M | 0.9% | – | – | – |
| MARA Holdings, Inc.565788AF3 | NOTE 3/0 | – | $55.0M | 0.9% | – | New | – |
| Coinbase Global, Inc.19260QAB3 | NOTE 0.500% 6/0 | – | $60.9M | 1.0% | – | – | – |
| MARA Holdings, Inc.565788AH9 | NOTE 6/0 | – | $61.6M | 1.0% | – | New | – |
| Wayfair Inc.94419LAR2 | NOTE 3.500%11/1 | – | $65.3M | 1.1% | – | – | – |
| Strategy Inc594972AS0 | NOTE 12/0 | – | $66.3M | 1.1% | – | New | – |
| LBRDKLiberty Broadband Corp | COM SER C | 1,476,741 | $71.8M | 1.2% | +25,461+1.8% | Added | History |
| Rivian Automotive, Inc.76954AAD5 | NOTE 3.625%10/1 | – | $72.5M | 1.2% | – | – | – |
| Cyberark Software LtdM2682V108 | SHS | 171,001 | $76.3M | 1.3% | +33,000+23.9% | Added | – |
| JetBlue Airways Corp477143AR2 | NOTE 2.500% 9/0 | – | $82.3M | 1.4% | – | – | – |
| Upstart Hldgs Inc91680MAD9 | NOTE 2.000%10/0 | – | $88.2M | 1.5% | – | New | – |
| Coinbase Global, Inc.19260QAF4 | NOTE 0.250% 4/0 | – | $92.1M | 1.5% | – | – | – |
| CMAComerica Inc | COM | 1,250,001 | $108.7M | 1.8% | +1,250,001 | New | History |
| GTLSChart Industries Inc | COM | 560,001 | $115.5M | 1.9% | +242,395+76.3% | Added | History |
| Centrus Energy Corp15643UAE4 | NOTE 2.250%11/0 | – | $122.2M | 2.0% | – | New | – |
| Strategy Inc594972AN1 | NOTE 2.250% 6/1 | – | $123.3M | 2.1% | – | – | – |
| CADECadence Bancorporation | EQUITY US CM | 3,000,001 | $128.5M | 2.1% | +3,000,001 | New | History |
| Lumentum Hldgs Inc55024UAD1 | NOTE 0.500%12/1 | – | $132.7M | 2.2% | – | – | – |
| Super Micro Computer, Inc.86800UAB0 | NOTE 3.500% 3/0 | 153,101,000 | $136.1M | 2.3% | −10,000,000−6.1% | Reduced | – |
| Trip.com Group Ltd89677QAB3 | NOTE 0.750% 6/1 | – | $144.9M | 2.4% | – | – | – |
| Applied Digital Corp.038169AB4 | NOTE 2.750% 6/0 | – | $163.9M | 2.7% | – | New | – |
| Sphere Entertainment Co.55826TAB8 | NOTE 3.500%12/0 | – | $182.5M | 3.0% | – | – | – |
| EchoStar CORP278768AB2 | NOTE 3.875%11/3 | – | $183.5M | 3.1% | – | – | – |
| Snowflake Inc.833445AD1 | NOTE 10/0 | – | $193.5M | 3.2% | – | – | – |
| Snowflake Inc.833445AB5 | NOTE 10/0 | – | $200.5M | 3.3% | – | – | – |
| Alibaba Group Hldg Ltd01609WBG6 | NOTE 0.500% 6/0 | – | $232.8M | 3.9% | – | – | – |
| Lumentum Hldgs Inc55024UAH2 | NOTE 1.500%12/1 | – | $377.3M | 6.3% | – | – | – |
| Western Digital Corp958102AT2 | NOTE 3.000%11/1 | – | $936.9M | 15.6% | – | – | – |
Options (27)
Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.
| Security | Class | Puts | Calls |
|---|---|---|---|
| SPYSPDR S&P 500 ETF Trust | ETF | $306.9M | – |
| NVDANVIDIA Corp | Stock | $186.5M | – |
| IBITiShares Bitcoin Trust ETF | ETF | $148.9M | – |
| WOLFWolfspeed, Inc. | COMMON STOCK | $69.6M | $10.4M |
| VanEck ETF Trust92189H607 | OIL SERVICES ETF | $64.8M | – |
| SMCISuper Micro Computer, Inc. | Stock | $61.5M | – |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | ADR | $60.8M | – |
| PLTRPalantir Technologies Inc. | Stock | $35.5M | – |
| MARAMARA Holdings, Inc. | COM | $34.7M | – |
| LUMNLumen Technologies, Inc. | Stock | $33.4M | $310.8K |
| RIVNRivian Automotive, Inc. | Stock | $28.7M | – |
| KKRKKR & Co. Inc. | COM | $25.5M | – |
| SPDR Series Trust78468R556 | SP O&G EXPL PRO | $25.3M | – |
| RUNSunrun Inc. | COM | $17.7M | – |
| SRPTSarepta Therapeutics, Inc. | COM | $17.4M | – |
| HLFHerbalife Ltd. | COM SHS | $12.5M | – |
| WBDWarner Bros. Discovery, Inc. | Stock | – | $10.1M |
| MPTMedical Properties Trust Inc | COM | $8.88M | – |
| HTZHertz Global Holdings, Inc | COM NEW | $8.07M | – |
| JBLUJetBlue Airways Corp | COM | – | $7.96M |
| XRXXerox Holdings Corp | COM NEW | $4.74M | – |
| AMCAMC Entertainment Holdings, Inc. | CL A NEW | $4.33M | – |
| RIGTransocean Ltd. | REGISTERED SHS | $4.13M | – |
| NIONIO Inc. | ADR | $2.47M | – |
| SABRSabre Corp | COM | – | $1.36M |
| BYNDBeyond Meat, Inc. | COM | $783.6K | – |
| NFENew Fortress Energy Inc. | COM CL A | $456.0K | – |
Sold out since Q3 2025 (62)
Positions held at the end of Q3 2025 that are gone from this filing.
| Security | Class | Shares in Q3 2025 | Value in Q3 2025 | % of portfolio in Q3 2025 | History |
|---|---|---|---|---|---|
| Bloom Energy Corp093712AM9 | NOTE 3.000% 6/0 | – | $413.5M | 7.7% | – |
| Bloom Energy Corp093712AK3 | NOTE 3.000% 6/0 | – | $292.0M | 5.4% | – |
| VRNAVerona Pharma plc | SPONSORED ADS | 1,566,501 | $167.2M | 3.1% | History |
| COOPMaverick Merger Sub 2, LLC | COM | 315,155 | $66.4M | 1.2% | History |
| WNSWNS (Holdings) Ltd | COM SHS | 779,591 | $59.5M | 1.1% | History |
| Sea Ltd81141RAF7 | NOTE 2.375%12/0 | – | $39.7M | 0.7% | – |
| KKellanova | Stock | 315,001 | $25.8M | 0.5% | History |
| INFAInformatica Inc. | COM CL A | 912,963 | $22.7M | 0.4% | History |
| Wec Energy Group, Inc.92939UAP1 | NOTE 4.375% 6/0 | – | $20.1M | 0.4% | – |
| Southern Co842587DZ7 | NOTE 4.500% 6/1 | – | $20.0M | 0.4% | – |
| Nextera Energy Cap Hldgs Inc65339KCY4 | NOTE 3.000% 3/0 | – | $18.0M | 0.3% | – |
| Macom Tech Solutions Hldgs I55405YAB6 | NOTE 0.250% 3/1 | – | $15.5M | 0.3% | – |
| Zynex Inc98986MAD5 | NOTE 5.000% 5/1 | – | $14.1M | 0.3% | – |
| VALValaris Ltd | CL A | 253,925 | $12.4M | 0.2% | History |
| Oatly Group AB67421JAC2 | NOTE 9.250% 9/1 | – | $8.04M | 0.1% | – |
| Pinduoduo Inc722304AC6 | NOTE 12/0 | – | $7.93M | 0.1% | – |
| Carnival Corp Ltd.14365C103 | ADR | 237,685 | $6.28M | 0.1% | – |
| Beyond Meat, Inc.08862EAB5 | NOTE 3/1 | – | $6.05M | 0.1% | – |
| Luminar Technologies, Inc.550424AE5 | DEBT 11.500% 1/1 | – | $5.64M | 0.1% | – |
| THCTenet Healthcare Corp | COM NEW | 24,515 | $4.98M | 0.1% | History |
| DMIIUDrugs Made In America Acquisition II Corp. | UNIT 09/16/2030 | 450,000 | $4.48M | 0.1% | History |
| CVLTCommvault Systems Inc | COM | 23,000 | $4.34M | 0.1% | History |
| Emmis Acquisition Corp.G3037D121 | UNIT 09/12/2030 | 400,000 | $3.99M | 0.1% | – |
| WOLFWolfspeed, Inc. | COMMON STOCK | 124,348 | $3.56M | 0.1% | History |
| OTGAUOTG Acquisition Corp. I | UNIT 09/05/2030 | 350,000 | $3.52M | 0.1% | History |
| TLNCUTalon Capital Corp. | UNIT 08/27/2030 | 300,000 | $3.01M | 0.1% | History |
| Xometry, Inc.98423FAB5 | NOTE 1.000% 2/0 | – | $2.95M | 0.1% | – |
| MRUSMerus N.V. | COM | 30,001 | $2.82M | 0.1% | History |
| CHECUChenghe Acquisition III Co. | UNIT 09/09/2030 | 275,000 | $2.74M | 0.1% | History |
| GMGeneral Motors Co | COM | 39,022 | $2.38M | <0.1% | History |
| LATAUGalata Acquisition Corp. II | UNIT 09/12/2030 | 200,000 | $2.00M | <0.1% | History |
| DSMBNY Mellon Strategic Municipal Bond Fund, Inc. | COM | 335,217 | $1.98M | <0.1% | History |
| INFQInfleqtion, Inc. | SHS CL A | 150,000 | $1.93M | <0.1% | History |
| IMSRTerrestrial Energy Inc. | SHS CL A | 115,000 | $1.89M | <0.1% | History |
| COHUCohu Inc | COM | 92,054 | $1.87M | <0.1% | History |
| FutureCrest Acquisition Corp.G3730U123 | COM | 150,000 | $1.59M | <0.1% | – |
| Jena Acquisition Corp IIG5093B121 | UNIT 99/99/9999 | 150,000 | $1.56M | <0.1% | – |
| Spring Vy Acquisition Corp IG8377R127 | UNIT 09/04/2030 | 150,000 | $1.54M | <0.1% | – |
| SSEAUStarry Sea Acquisition Corp | UNIT 07/07/2030 | 150,000 | $1.52M | <0.1% | History |
| MBVIUM3-Brigade Acquisition VI Corp. | UNIT 08/18/2030 | 150,000 | $1.52M | <0.1% | History |
| KOYNUCSLM Digital Asset Acquisition Corp III, Ltd | UNIT 08/12/2030 | 150,000 | $1.51M | <0.1% | History |
| TROXTronox Holdings plc | SHS | 369,723 | $1.49M | <0.1% | History |
| IMSRWTerrestrial Energy Inc. | *W EXP 99/99/999 | 200,000 | $1.20M | <0.1% | History |
| PIImpinj Inc | COM | 5,715 | $1.03M | <0.1% | History |
| BLZRUTrailblazer Acquisition Corp. | UNIT 08/21/2030 | 100,000 | $1.02M | <0.1% | History |
| HVMCUHighview Merger Corp. | UNIT 07/24/2030 | 100,000 | $1.01M | <0.1% | History |
| BDCIUBTC Development Corp. | UNIT 09/11/2030 | 100,000 | $1.01M | <0.1% | History |
| MKLYUMcKinley Acquisition Corp | UNIT 07/25/2030 | 100,000 | $999.0K | <0.1% | History |
| ALNYAlnylam Pharmaceuticals, Inc. | COM | 2,100 | $957.6K | <0.1% | History |
| Spring Valley Acquistn CorpG83752116 | *W EXP 02/25/202 | 464,261 | $603.5K | <0.1% | – |
| CVSCVS Health Corp | Stock | 4,050 | $305.3K | <0.1% | History |
| NBRNabors Industries Ltd | SHS | 4,900 | $200.3K | <0.1% | History |
| Churchill Cap Corp XG2130T116 | *W EXP 05/14/203 | 50,000 | $177.5K | <0.1% | – |
| Iron Horse Acquisitions Corp462837121 | RIGHT 99/99/9999 | 150,000 | $110.1K | <0.1% | – |
| Bigbear AI Hldgs Inc08975B117 | *W EXP 99/99/999 | 50,598 | $107.3K | <0.1% | – |
| Silvia, Inc.G2296A117 | *W EXP 05/16/203 | 75,000 | $90.0K | <0.1% | – |
| RTACWRenatus Tactical Acquisition Corp I | *W EXP 05/15/203 | 70,000 | $84.0K | <0.1% | History |
| ENGNWenGene Therapeutics Inc. | *W EXP 10/31/202 | 31,000 | $22.0K | <0.1% | History |
| DT Cloud Acquisition CorpG28524133 | RIGHT 02/14/2029 | 107,306 | $19.3K | <0.1% | – |
| Haymaker Acquisition Corp IVG4375F116 | *W EXP 05/31/202 | 25,000 | $9.88K | <0.1% | – |
| VEEAWVeea Inc. | *W EXP 03/18/202 | 13,700 | $959 | <0.1% | History |
| CEROWCero Therapeutics Holdings, Inc. | *W EXP 09/01/202 | 23,250 | $309 | <0.1% | History |