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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
+2.18%
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
$7.19B
AUM Growth
+$540M
Cap. Flow
-$2.89B
Cap. Flow %
-40.2%
Top 10 Hldgs %
41.23%
Holding
555
New
125
Increased
32
Reduced
29
Closed
60

Top Buys

Rank Stock Value
1
CADE
Cadence Bank
CADE
+$119M
2
CMA
Comerica
CMA
+$101M
3
GTLS
Chart Industries
GTLS
+$49.1M
4
CFLT
Confluent
CFLT
+$25.9M
5
EXAS
Exact Sciences
EXAS
+$24.7M

Top Sells

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$167M
2
COOP
Mr. Cooper
COOP
+$66.4M
3
WNS
WNS Holdings
WNS
+$59.5M
4
K
Kellanova
K
+$25.8M
5
INFA
Informatica
INFA
+$22.7M

Sector Composition

Rank Sector Weight
1 Miscellaneous 80.89%
2 Financials 7.76%
3 Industrials 2.45%
4 Communication Services 2.43%
5 Healthcare 1.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OYSER
326
Oyster Enterprises II Acquisition Corp Rights
OYSER
$50K ﹤0.01%
250,000
– –
APADR
327
DELISTED
A Paradise Acquisition Corp Rights
APADR
$50K ﹤0.01%
+200,000
New +$45.9K
CRAQR
328
Cal Redwood Acquisition Corp Right
CRAQR
$48.6K ﹤0.01%
150,000
– –
FTW.WS
329
Presidio Production Co Warrants
FTW.WS
$48K ﹤0.01%
99,997
– –
IGACR
330
Invest Green Acquisition Corp Rights
IGACR
$47.5K ﹤0.01%
+250,000
New +$48K
TDACW
331
Translational Development Acquisition Corp Warrants
TDACW
$13.8M
$47.3K ﹤0.01%
152,500
– –
NTWOW
332
Newbury Street II Acquisition Corp Warrant
NTWOW
$10.7M
$47.1K ﹤0.01%
187,500
– –
EVAC.WS
333
EQV Ventures Acquisition Corp II Warrants
EVAC.WS
$46.7K ﹤0.01%
133,333
– –
DRTSW icon
334
Alpha Tau Medical Warrant
DRTSW
$89.7M
$46.2K ﹤0.01%
136,018
– –
WSTNR
335
Westin Acquisition Corp Right
WSTNR
$45K ﹤0.01%
+250,000
New +$45K
FACTW
336
FACT II Acquisition Corp Warrant
FACTW
$1.31M
$43.8K ﹤0.01%
125,000
– –
JACS.RT
337
Jackson Acquisition Co II Rights
JACS.RT
$43.8K ﹤0.01%
175,000
– –
RZLVW
338
Rezolve AI Warrants
RZLVW
$4.66M
$42.3K ﹤0.01%
46,500
– –
TVAIR
339
Thayer Ventures Acquisition Corporation II Rights
TVAIR
$42K ﹤0.01%
200,000
– –
APXTW
340
Apex Treasury Corp Warrants
APXTW
$5.17M
$41.7K ﹤0.01%
+150,000
New +$45.6K
VACHW
341
DELISTED
Voyager Acquisition Corp Warrants
VACHW
$39.7K ﹤0.01%
193,612
– –
AIRJW
342
AirJoule Technologies Warrant
AIRJW
$64.2M
$39.5K ﹤0.01%
+46,500
New +$45.7K
PACHW
343
Pioneer Acquisition I Corp Warrants
PACHW
$39K ﹤0.01%
150,000
– –
COPL.WS
344
Copley Acquisition Corp Warrants
COPL.WS
$38.6K ﹤0.01%
150,000
– –
ONCHW
345
1RT Acquisition Corp Warrant
ONCHW
$1.81M
$37.7K ﹤0.01%
65,000
– –
EGHAR
346
EGH Acquisition Corp Rights
EGHAR
$37.5K ﹤0.01%
150,000
– –
AXINR
347
Axiom Intelligence Acquisition Corp 1 Right
AXINR
$36.8K ﹤0.01%
175,000
– –
DNMXW
348
Dynamix Corp III Warrants
DNMXW
$35.8K ﹤0.01%
+100,000
New +$37.7K
OACCW
349
Oaktree Acquisition Corp III Life Sciences Warrant
OACCW
$35.5K ﹤0.01%
50,000
– –
VACI.WS
350
Viking Acquisition Corp I Warrants
VACI.WS
$35K ﹤0.01%
+83,333
New +$34.9K
12 13
14
15 16

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Whitebox Advisors's Q4 2025 Portfolio in Review

As of Q4 2025, Whitebox Advisors held 555 positions worth $7.19B, up 8.1% from $6.65B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Whitebox Advisors withdrew a net $2.89B in Q4 2025, closing 60 positions and reducing 29 holdings. Its most notable exit was Verona Pharma, an estimated $167M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 81% of assets, up from 80% a quarter earlier, followed by Financials and Industrials.

Against the trend, Whitebox Advisors opened a new position in Cadence Bank worth $129M.

  • Whitebox Advisors's largest Q4 2025 buy was Cadence Bank: 3,000,001 shares worth $129M.
  • Whitebox Advisors added most to Chart Industries in Q4 2025, an estimated $49.1M increase.
  • Whitebox Advisors's biggest Q4 2025 reduction was Gulfport Energy Corp, cutting an estimated $9.97M.
  • Whitebox Advisors fully exited Verona Pharma in Q4 2025, selling an estimated $167M.
  • Whitebox Advisors's ten largest holdings make up 41% of its $7.19B portfolio in Q4 2025.
  • Whitebox Advisors opened 125 new positions and closed 60 in Q4 2025.
  • Whitebox Advisors's portfolio value rose 8.1% quarter-over-quarter to $7.19B.

Based on Whitebox Advisors's 13F filing for Q4 2025, filed 17 Feb 2026.