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Whitebox Advisors Portfolio holdings
AUM
$7.65B
Turnover
32.48%
1-Year Est. Return
13.87%
Whitebox Advisors is a multi-strategy hedge fund manager founded in 1999. It invests across asset classes and markets for institutions, private entities and qualified individuals. Its trades include convertible arbitrage, distressed credit and municipal bonds. Robert Vogel, a partner and the firm's chief investment officer, is its majority owner.
This Fund
S&P 500
This Quarter Est. Return
+1.93%
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
$7.65B
AUM Growth
-$592M
(-7.2%)
Cap. Flow
-$3.5B
Cap. Flow % of AUM
Cap. Flow %
-45.77%
Top 10 Holdings %
Top 10 Hldgs %
31.69%
Holding
745
New
163
Increased
24
Reduced
37
Closed
79
Avg Time Held
Equity + Options
0.8
years
Top 10 Avg Time Held
Equity + Options
0.5
years
Top 20 Avg Time Held
Equity + Options
0.9
years
Avg Time Held Equity only
0.8
years
Top 10 Avg Time Held Equity only
0.3
years
Top 20 Avg Time Held Equity only
0.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bio-Techne
TECH
|
+$113M |
| 2 |
Caesars Entertainment
CZR
|
+$92.1M |
| 3 |
Super Micro Computer Depositary Shares 7% Series A Preferred Stock
SMCIP
|
+$75.2M |
| 4 |
Azul S.A.
AZUL
|
+$73.8M |
| 5 |
Apogee Therapeutics
APGE
|
+$40.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Chart Industries
GTLS
|
+$137M |
| 2 |
Terns Pharmaceuticals
TERN
|
+$52.7M |
| 3 |
Liberty Broadband Class C
LBRDK
|
+$49.6M |
| 4 |
Masimo
MASI
|
+$48M |
| 5 |
Carnival PLC
CUK
|
+$33.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 76.5% |
| 2 | Financials | 9.04% |
| 3 | Healthcare | 5.77% |
| 4 | Industrials | 2.04% |
| 5 | Energy | 1.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
OPI
26
Office Properties Income Trust
OPI
$296M
| $29.7M | 0.39% |
+1,748,605
| New | +$30.2M |
2026 Q2
0 quarters
|
|
27
PUT
DELISTED
Warner Bros
WBD
| $29.3M | 0.38% |
1,100,000
| – | – |
2026 Q1
1 quarter
|
|
28
PUT
Lumen Technologies, Inc. Common Stock
LUMN
$5.03B
| $26.9M | 0.35% |
3,500,000
| – | – |
2023 Q1
13 quarters
|
|
29
Liberty Live Group Series C
LLYVK
$9.6B
| $23M | 0.3% |
217,989
+56,560
| +35% | +$5.52M |
2026 Q1
1 quarter
|
|
|
30
DELISTED
Chart Industries
GTLS
| $20.9M | 0.27% |
100,046
-658,841
| -87% | -$137M |
2025 Q3
3 quarters
|
|
31
PUT
Tidewater
TDW
$4.35B
| $18.4M | 0.24% |
+276,100
| New | +$21.9M |
2026 Q2
0 quarters
|
|
|
SVC
32
Service Properties Trust
SVC
$811M
| $16.2M | 0.21% |
1,916,342
+1,161,782
| +154% | +$9.14M |
2023 Q2
12 quarters
|
|
33
CALL
JetBlue
JBLU
$1.08B
| $15.8M | 0.21% |
2,750,000
+1,000,000
| +57% | +$5.09M |
2024 Q3
7 quarters
|
|
34
Chord Energy
CHRD
$8.59B
| $14.2M | 0.19% |
124,476
-35,000
| -22% | -$4.75M |
2020 Q4
22 quarters
|
|
35
SM Energy
SM
$9.6B
| $13M | 0.17% |
496,601
-105,700
| -18% | -$3.17M |
2026 Q1
1 quarter
|
|
36
Community Health Systems
CYH
$338M
| $12.5M | 0.16% |
3,732,743
+604,859
| +19% | +$1.78M |
2023 Q2
12 quarters
|
|
37
Dauch Corp
DCH
$1.14B
| $11.7M | 0.15% |
2,158,683
-134,370
| -6% | -$817K |
2022 Q3
15 quarters
|
|
|
38
DELISTED
Liberty Broadband Class A
LBRDA
| $11.6M | 0.15% |
348,076
| – | – |
2022 Q3
15 quarters
|
|
39
Bausch + Lomb
BLCO
$7.15B
| $11.4M | 0.15% |
686,976
-414,878
| -38% | -$6.6M |
2022 Q3
15 quarters
|
|
40
Grifois
GRFS
$5.51B
| $11.4M | 0.15% |
1,603,483
-464,315
| -22% | -$3.67M |
2023 Q3
11 quarters
|
|
41
Fox Class B
FOX
$23.7B
| $9.32M | 0.12% |
198,874
+23,626
| +13% | +$1.31M |
2025 Q3
3 quarters
|
|
42
Wheels Up
UP
$116M
| $9.16M | 0.12% |
1,021,597
-170,049
| -14% | -$1.3M |
2023 Q4
10 quarters
|
|
43
News Corp Class A
NWSA
$15.7B
| $8.52M | 0.11% |
343,120
+274,613
| +401% | +$7.12M |
2025 Q3
3 quarters
|
|
44
Vendome Acquisition Corp I
VNME
| $8.41M | 0.11% |
825,000
| – | – |
2025 Q3
3 quarters
|
|
45
Titan Acquisition Corp
TACH
$364M
| $8.33M | 0.11% |
800,000
| – | – |
2025 Q2
4 quarters
|
|
46
GigCapital8
GIW
$372M
| $8.06M | 0.11% |
800,000
| – | – |
2025 Q4
2 quarters
|
|
47
Idea Acquisition Corp
IACO
$438M
| $7.9M | 0.1% |
+797,378
| New | +$7.88M |
2026 Q2
0 quarters
|
|
48
Fifth Era Acquisition Corp I
FERA
| $7.82M | 0.1% |
750,000
| – | – |
2025 Q2
4 quarters
|
|
49
Harvard Ave Acquisition Corp
HAVA
$213M
| $7.58M | 0.1% |
750,000
| – | – |
2026 Q1
1 quarter
|
|
50
X3 Acquisition Corp
XCBE
| $6.99M | 0.09% |
700,000
| – | – |
2026 Q1
1 quarter
|
|
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Whitebox Advisors's Q2 2026 Portfolio in Review
As of Q2 2026, Whitebox Advisors held 745 positions worth $7.65B, down 7.2% from $8.24B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Whitebox Advisors withdrew a net $3.5B in Q2 2026, closing 79 positions and reducing 37 holdings. Its most notable exit was Terns Pharmaceuticals, an estimated $52.7M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 77% of assets, down from 81% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Whitebox Advisors opened a new position in Bio-Techne worth $148M.
- Whitebox Advisors's largest Q2 2026 buy was Bio-Techne: 2,100,001 shares worth $148M.
- Whitebox Advisors added most to Caesars Entertainment in Q2 2026, an estimated $92.1M increase.
- Whitebox Advisors's biggest Q2 2026 reduction was Chart Industries, cutting an estimated $137M.
- Whitebox Advisors fully exited Terns Pharmaceuticals in Q2 2026, selling an estimated $52.7M.
- Whitebox Advisors's ten largest holdings make up 32% of its $7.65B portfolio in Q2 2026.
- Whitebox Advisors opened 163 new positions and closed 79 in Q2 2026.
- Whitebox Advisors's portfolio value fell 7.2% quarter-over-quarter to $7.65B.
Based on Whitebox Advisors's 13F filing for Q2 2026, filed 14 Aug 2026.