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Whitebox Advisors Portfolio holdings

AUM $8.12B
1-Year Est. Return 15.82%
This Fund
S&P 500
This Quarter Est. Return
+2.09%
1 Year Est. Return
+15.82%
3 Year Est. Return
+25.67%
5 Year Est. Return
+33.7%
10 Year Est. Return
+175.96%
AUM
$8.12B
AUM Growth
+$1.08B
Cap. Flow
-$3.82B
Cap. Flow %
-47.07%
Top 10 Hldgs %
49.95%
Holding
657
New
173
Increased
23
Reduced
28
Closed
89

Top Buys

Rank Stock Value
1
PEN icon
Penumbra
PEN
+$151M
2
WBS icon
Webster Financial
WBS
+$132M
3
VAL icon
Valaris
VAL
+$45.5M
4
ORCL.PRD
Oracle Corp Preferred Stock Series D
ORCL.PRD
+$42.5M
5
MASI
Masimo
MASI
+$42.4M

Top Sells

Rank Stock Value
1
CADE
Cadence Bank
CADE
+$129M
2
CMA
Comerica
CMA
+$109M
3
CYBR
CyberArk
CYBR
+$76.3M
4
CFLT
Confluent
CFLT
+$31.9M
5
EXAS
Exact Sciences
EXAS
+$31.2M

Sector Composition

Rank Sector Weight
1 Financials 7.15%
2 Healthcare 3.62%
3 Industrials 2.45%
4 Communication Services 2.27%
5 Energy 1.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$807B
$325M 4%
500,000
+50,000
+11% +$34M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$81.8B
$186M 2.29%
+750,000
New +$193M
GTLS
3
DELISTED
Chart Industries
GTLS
$157M 1.93%
758,887
+198,886
+36% +$41.2M
PEN icon
4
Penumbra
PEN
$12.9B
$146M 1.8%
+445,001
New +$151M
NVDA icon
5
PUT
NVIDIA
NVDA
$5.27T
$140M 1.72%
800,000
-200,000
-20% -$36.7M
WBS icon
6
Webster Financial
WBS
$12.8B
$134M 1.64%
+1,925,001
New +$132M
SMCI icon
7
PUT
Super Micro Computer
SMCI
$20.4B
$105M 1.29%
4,600,000
+2,500,000
+119% +$75M
LBRDK icon
8
Liberty Broadband Class C
LBRDK
$5.32B
$74.3M 0.91%
1,477,741
+1,000
+0.1% +$50.4K
TSM icon
9
PUT
TSMC
TSM
$2.19T
$67.6M 0.83%
200,000
– –
IBIT icon
10
PUT
iShares Bitcoin Trust
IBIT
$47.2B
$57.6M 0.71%
1,500,000
-1,500,000
-50% -$64.9M
VAL icon
11
Valaris
VAL
$6.03B
$57.2M 0.7%
+583,937
New +$45.5M
TERN
12
DELISTED
Terns Pharmaceuticals
TERN
$52.7M 0.65%
+1,000,001
New +$41.1M
TFPM icon
13
Triple Flag Precious Metals
TFPM
$6.59B
$52.7M 0.65%
1,518,950
-7,680
-0.5% -$278K
NBIS
14
PUT
Nebius Group N.V.
NBIS
$49.1B
$51.9M 0.64%
+500,000
New +$49.9M
AAPL icon
15
PUT
Apple
AAPL
$4.45T
$50.8M 0.62%
+200,000
New +$52.1M
MASI
16
DELISTED
Masimo
MASI
$48M 0.59%
+270,001
New +$42.4M
GPOR icon
17
Gulfport Energy Corp
GPOR
$3.03B
$46.5M 0.57%
219,627
-5,000
-2% -$994K
WBD icon
18
Warner Bros
WBD
$67.9B
$44.3M 0.55%
1,615,001
+1,215,000
+304% +$34M
ORCL.PRD
19
Oracle Corp Preferred Stock Series D
ORCL.PRD
$40.5M 0.5%
+900,000
New +$42.5M
MARA icon
20
PUT
Marathon Digital Holdings
MARA
$3.74B
$35.7M 0.44%
4,369,200
+500,000
+13% +$4.52M
CUK
21
DELISTED
Carnival PLC
CUK
$33.5M 0.41%
+1,300,036
New +$37.7M
WBD icon
22
PUT
Warner Bros
WBD
$67.9B
$30.2M 0.37%
+1,100,000
New +$30.8M
TSLA icon
23
PUT
Tesla
TSLA
$1.31T
$27.9M 0.34%
+75,000
New +$30.9M
TERN
24
PUT
DELISTED
Terns Pharmaceuticals
TERN
$26.4M 0.32%
+500,000
New +$20.5M
HEI.A icon
25
HEICO Corp Class A
HEI.A
$37B
$26.3M 0.32%
124,737
– –
1
2 3 4 5

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CCM
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CCM
Causeway Capital Management Los Angeles, California $8.15B AUM 29.28% 1-Year Est. Return
FIA
Foundations Investment Advisors Phoenix, Arizona $8.07B AUM 24.97% 1-Year Est. Return
VIM
Vinva Investment Management Sydney, Australia $8.07B AUM 29.46% 1-Year Est. Return
FMI
Fiduciary Management Inc Milwaukee, Wisconsin $8.06B AUM 6.78% 1-Year Est. Return
EGM
Engineers Gate Manager New York $8B AUM 17.32% 1-Year Est. Return
CMTU
Capital Markets Trading (UK) London, United Kingdom $7.95B AUM 85.98% 1-Year Est. Return
GGHC
Gilder Gagnon Howe & Co New York $8.34B AUM 46.58% 1-Year Est. Return

Whitebox Advisors's Q1 2026 Portfolio in Review

As of Q1 2026, Whitebox Advisors held 657 positions worth $8.12B, up 15% from $7.05B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Whitebox Advisors withdrew a net $3.82B in Q1 2026, closing 89 positions and reducing 28 holdings. Its most notable exit was Cadence Bank, an estimated $129M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.2% of assets, down from 7.9% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Whitebox Advisors opened a new position in Penumbra worth $146M.

  • Whitebox Advisors's largest Q1 2026 buy was Penumbra: 445,001 shares worth $146M.
  • Whitebox Advisors added most to Chart Industries in Q1 2026, an estimated $41.2M increase.
  • Whitebox Advisors's biggest Q1 2026 reduction was Fox Class B, cutting an estimated $19.8M.
  • Whitebox Advisors fully exited Cadence Bank in Q1 2026, selling an estimated $129M.
  • Whitebox Advisors's ten largest holdings make up 50% of its $8.12B portfolio in Q1 2026.
  • Whitebox Advisors opened 173 new positions and closed 89 in Q1 2026.
  • Whitebox Advisors's portfolio value rose 15% quarter-over-quarter to $8.12B.

Based on Whitebox Advisors's 13F filing for Q1 2026, filed 15 May 2026.