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WA

Whitebox Advisors Portfolio holdings

AUM $7.65B
1-Year Est. Return 13.87%
This Fund
S&P 500
This Quarter Est. Return
+7.15%
1 Year Est. Return
+13.87%
3 Year Est. Return
+24.22%
5 Year Est. Return
+33.25%
10 Year Est. Return
+180.55%
AUM
$6.65B
AUM Growth
+$1.75B
Cap. Flow
-$1.93B
Cap. Flow %
-29.05%
Top 10 Hldgs %
42.49%
Holding
491
New
115
Increased
23
Reduced
39
Closed
62

Top Buys

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$164M
2
GTLS
Chart Industries
GTLS
+$60.4M
3
CYBR
CyberArk
CYBR
+$59.2M
4
WNS
WNS Holdings
WNS
+$58.3M
5
GPOR icon
Gulfport Energy Corp
GPOR
+$28.6M

Top Sells

Rank Stock Value
1
CHX
ChampionX
CHX
+$81.3M
2
AZEK
The AZEK Co
AZEK
+$58.3M
3
BPMC
Blueprint Medicines
BPMC
+$39.7M
4
SWTX
SpringWorks Therapeutics
SWTX
+$37.4M
5
COOP
Mr. Cooper
COOP
+$31.2M

Sector Composition

Rank Sector Weight
1 Miscellaneous 80.4%
2 Financials 4.76%
3 Healthcare 3.38%
4 Communication Services 2.95%
5 Technology 2.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NHICW
276
NewHold Investment Corp III Warrants
NHICW
$11.5M
$45K ﹤0.01%
125,000
– –
LCCCR
277
Lakeshore Acquisition III Corp Rights
LCCCR
$44.6K ﹤0.01%
218,500
– –
TDACW
278
Translational Development Acquisition Corp Warrants
TDACW
$12.5M
$44.2K ﹤0.01%
152,500
– –
BKHAR
279
Black Hawk Acquisition Corp Rights
BKHAR
$42.5K ﹤0.01%
25,000
– –
OYSER
280
Oyster Enterprises II Acquisition Corp Rights
OYSER
$42.5K ﹤0.01%
+250,000
New +$42.5K
TONT.WS
281
Graf Global Corp Warrants
TONT.WS
$10.6M
$41.3K ﹤0.01%
125,000
– –
PELIR
282
DELISTED
Pelican Acquisition Corp Right
PELIR
$40.5K ﹤0.01%
+150,000
New +$27.3K
MCGAW
283
Yorkville Acquisition Corp Warrant
MCGAW
$2M
$40K ﹤0.01%
+33,333
New +$46.2K
HOVRW icon
284
New Horizon Aircraft Ltd
HOVRW
$10.7M
$38.8K ﹤0.01%
100,000
– –
VWAVW
285
VisionWave Holdings Warrant
VWAVW
$564K
$38.3K ﹤0.01%
+93,000
New +$25.5K
OACCW
286
Oaktree Acquisition Corp III Life Sciences Warrant
OACCW
$37.5K ﹤0.01%
50,000
– –
AISPW
287
CALL
Airship AI Holdings Warrants
AISPW
$11M
$36.3K ﹤0.01%
+21,750
New +$36.8K
CNCKW
288
Coincheck Group Warrant expiring 12/10/2029
CNCKW
$36.1K ﹤0.01%
50,079
– –
AIRJW
289
CALL
AirJoule Technologies Warrant
AIRJW
$53M
$35K ﹤0.01%
+46,500
New +$34.9K
FACTW
290
FACT II Acquisition Corp Warrant
FACTW
$1.05M
$35K ﹤0.01%
125,000
– –
TVAIR
291
Thayer Ventures Acquisition Corporation II Rights
TVAIR
$34K ﹤0.01%
+200,000
New +$33.8K
KFIIR
292
K&F Growth Acquisition Corp II Rights
KFIIR
$33.8K ﹤0.01%
225,000
– –
CRAQR
293
Cal Redwood Acquisition Corp Right
CRAQR
$33K ﹤0.01%
+150,000
New +$33.9K
PACHW
294
Pioneer Acquisition I Corp Warrants
PACHW
$1.62M
$33K ﹤0.01%
+150,000
New +$26.3K
VACHW
295
DELISTED
Voyager Acquisition Corp Warrants
VACHW
$32.9K ﹤0.01%
193,612
– –
EVAC.WS
296
EQV Ventures Acquisition Corp II Warrants
EVAC.WS
$32K ﹤0.01%
+133,333
New +$37.1K
EGHAR
297
EGH Acquisition Corp Rights
EGHAR
$31.5K ﹤0.01%
+150,000
New +$32.5K
APADR
298
CALL
DELISTED
A Paradise Acquisition Corp Rights
APADR
$31K ﹤0.01%
+200,000
New +$31.5K
COPL.WS
299
Copley Acquisition Corp Warrants
COPL.WS
$30.1K ﹤0.01%
150,000
– –
CCIIW
300
Cohen Circle Acquisition Corp II Warrant
CCIIW
$4.55M
$29.7K ﹤0.01%
+31,249
New +$23.5K
10 11
12
13 14

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SC
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SCB
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CCWA
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BFM
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CG
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CGH
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Whitebox Advisors's Q3 2025 Portfolio in Review

As of Q3 2025, Whitebox Advisors held 491 positions worth $6.65B, up 36% from $4.9B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Whitebox Advisors withdrew a net $1.93B in Q3 2025, closing 62 positions and reducing 39 holdings. Its most notable exit was ChampionX, an estimated $81.3M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, up from 77% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Whitebox Advisors opened a new position in Verona Pharma worth $167M.

  • Whitebox Advisors's largest Q3 2025 buy was Verona Pharma: 1,566,501 shares worth $167M.
  • Whitebox Advisors added most to Gulfport Energy Corp in Q3 2025, an estimated $28.6M increase.
  • Whitebox Advisors's biggest Q3 2025 reduction was Mr. Cooper, cutting an estimated $31.2M.
  • Whitebox Advisors fully exited ChampionX in Q3 2025, selling an estimated $81.3M.
  • Whitebox Advisors's ten largest holdings make up 42% of its $6.65B portfolio in Q3 2025.
  • Whitebox Advisors opened 115 new positions and closed 62 in Q3 2025.
  • Whitebox Advisors's portfolio value rose 36% quarter-over-quarter to $6.65B.

Based on Whitebox Advisors's 13F filing for Q3 2025, filed 14 Nov 2025.