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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 | 76.51% |
| 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 | |
|---|---|---|---|---|---|---|---|
|
AAC.U
201
Ares Acquisition Corporation III Units
AAC.U
| $2.51M | 0.03% |
+250,000
| New | +$2.51M |
2026 Q2
0 quarters
|
|
|
YICCU
202
Yorkville International Capital Corp Units
YICCU
$200M
| $2.51M | 0.03% |
+250,000
| New | +$2.51M |
2026 Q2
0 quarters
|
|
203
Invest Green Acquisition Corp
IGAC
| $2.5M | 0.03% |
250,000
| – | – |
2025 Q4
2 quarters
|
|
204
Long Table Growth Corp Units
LTGRU
| $2.5M | 0.03% |
+250,000
| New | +$2.5M |
2026 Q2
0 quarters
|
|
|
NHIV
205
NewHold Investment Corp IV
NHIV
$273M
| $2.5M | 0.03% |
+250,000
| New | +$2.5M |
2026 Q2
0 quarters
|
|
206
MOZAYYX Acquisition Corp
MZYX
$375M
| $2.49M | 0.03% |
+250,000
| New | +$2.48M |
2026 Q2
0 quarters
|
|
207
Plutonian Acquisition Corp II
PLUN
$137M
| $2.49M | 0.03% |
+250,000
| New | +$2.49M |
2026 Q2
0 quarters
|
|
208
Muzero Acquisition Corp
MUZE
$274M
| $2.48M | 0.03% |
250,000
| – | – |
2026 Q1
1 quarter
|
|
209
QuasarEdge Acquisition Corp
QRED
$162M
| $2.48M | 0.03% |
+250,000
| New | +$2.48M |
2026 Q2
0 quarters
|
|
210
M Evo Global Acquisition Corp II
MEVO
$401M
| $2.48M | 0.03% |
250,000
| – | – |
2026 Q1
1 quarter
|
|
211
K&F Growth Acquisition Corp II
KFII
$415M
| $2.37M | 0.03% |
225,000
| – | – |
2025 Q1
5 quarters
|
|
|
GHXIU
212
Gores Holdings XI Inc Units
GHXIU
| $2.33M | 0.03% |
+229,527
| New | +$2.32M |
2026 Q2
0 quarters
|
|
213
Lakeshore Acquisition III Corp
LCCC
| $2.27M | 0.03% |
218,500
| – | – |
2025 Q2
4 quarters
|
|
214
Crane Harbor Acquisition Corp II
CRAN
$475M
| $2.2M | 0.03% |
217,635
| – | – |
2026 Q1
1 quarter
|
|
215
SiriusXM
SIRI
$10.8B
| $2.2M | 0.03% |
74,443
-79,500
| -52% | -$2.14M |
2024 Q2
8 quarters
|
|
216
Bluerock Acquisition Corp
BLRK
$233M
| $2.18M | 0.03% |
218,525
| – | – |
2026 Q1
1 quarter
|
|
217
Andretti Acquisition Corp II
POLE
| $2.15M | 0.03% |
200,000
| – | – |
2025 Q2
4 quarters
|
|
218
Social Commerce Partners
SCPQ
| $2.14M | 0.03% |
214,400
| – | – |
2026 Q1
1 quarter
|
|
219
SPACSphere Acquisition Corp
SSAC
$237M
| $2.12M | 0.03% |
212,043
| – | – |
2026 Q1
1 quarter
|
|
220
CALL
Sabre
SABR
$715M
| $2.09M | 0.03% |
1,000,000
| – | – |
2025 Q2
4 quarters
|
|
|
HVII
221
DELISTED
Hennessy Capital Investment Corp VII
HVII
| $2.09M | 0.03% |
200,000
| – | – |
2025 Q1
5 quarters
|
|
222
Evernorth Holdings Inc. Class A Ordinary Shares
XRPN
$530M
| $2.08M | 0.03% |
200,000
| – | – |
2025 Q3
3 quarters
|
|
223
SilverBox Corp V
SBXE
$351M
| $2.08M | 0.03% |
206,900
| – | – |
2026 Q1
1 quarter
|
|
224
Thayer Ventures Acquisition Corporation II
TVAI
| $2.06M | 0.03% |
200,000
| – | – |
2025 Q3
3 quarters
|
|
225
Ocean Capital Acquisition Corp Units
OCAC.U
| $2.05M | 0.03% |
+200,000
| New | +$2.04M |
2026 Q2
0 quarters
|
|
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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.