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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
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$806B
$307M 4.27%
450,000
-200,000
-31% -$135M
NVDA icon
2
PUT
NVIDIA
NVDA
$5.4T
$187M 2.59%
1,000,000
+800,000
+400% +$149M
IBIT icon
3
PUT
iShares Bitcoin Trust
IBIT
$60.9B
$149M 2.07%
3,000,000
+1,000,000
+50% +$56.8M
CADE
4
DELISTED
Cadence Bank
CADE
$129M 1.79%
+3,000,001
New +$119M
GTLS
5
DELISTED
Chart Industries
GTLS
$115M 1.61%
560,001
+242,395
+76% +$49.1M
CMA
6
DELISTED
Comerica
CMA
$109M 1.51%
+1,250,001
New +$101M
CYBR
7
DELISTED
CyberArk
CYBR
$76.3M 1.06%
171,001
+33,000
+24% +$15.9M
LBRDK
8
DELISTED
Liberty Broadband Class C
LBRDK
$71.8M 1%
1,476,741
+25,461
+2% +$1.32M
WOLF icon
9
PUT
Wolfspeed
WOLF
$1.42B
$69.6M 0.97%
4,000,000
– –
OIH icon
10
PUT
VanEck Oil Services ETF
OIH
$2.1B
$64.8M 0.9%
227,700
– –
SMCI icon
11
PUT
Super Micro Computer
SMCI
$25.6B
$61.5M 0.85%
2,100,000
+900,000
+75% +$37.1M
TSM icon
12
PUT
TSMC
TSM
$2.26T
$60.8M 0.85%
+200,000
New +$58.7M
TFPM icon
13
Triple Flag Precious Metals
TFPM
$6.98B
$50.7M 0.71%
1,526,630
-272,332
-15% -$8.52M
GPOR icon
14
Gulfport Energy Corp
GPOR
$3.12B
$46.7M 0.65%
224,627
-50,000
-18% -$9.97M
PLTR icon
15
PUT
Palantir
PLTR
$407B
$35.5M 0.49%
+200,000
New +$36.2M
MARA icon
16
PUT
Marathon Digital Holdings
MARA
$4.6B
$34.7M 0.48%
3,869,200
+1,000,000
+35% +$14.8M
FOX icon
17
Fox Class B
FOX
$24B
$33.7M 0.47%
518,428
+96,246
+23% +$5.62M
LUMN icon
18
PUT
Lumen
LUMN
$7.02B
$33.4M 0.46%
4,300,000
– –
CFLT
19
DELISTED
Confluent
CFLT
$31.9M 0.44%
+1,054,747
New +$25.9M
HEI.A icon
20
HEICO Corp Class A
HEI.A
$32.5B
$31.5M 0.44%
124,737
+1,938
+2% +$479K
EXAS
21
DELISTED
Exact Sciences
EXAS
$31.2M 0.43%
+307,001
New +$24.7M
RIVN icon
22
PUT
Rivian
RIVN
$23.2B
$28.7M 0.4%
1,456,300
– –
CDTX
23
DELISTED
Cidara Therapeutics
CDTX
$27.6M 0.38%
+125,001
New +$20.2M
KKR icon
24
PUT
KKR & Co
KKR
$93.4B
$25.5M 0.35%
200,000
– –
XOP icon
25
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.21B
$25.3M 0.35%
200,000
– –
1
2 3 4 5

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SIAU
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SC
Sapient Capital Indianapolis, Indiana $7.64B AUM 51.51% 1-Year Est. Return
SCB
Saudi Central Bank Riyadh, Saudi Arabia $7.63B AUM 53.44% 1-Year Est. Return
AC
Aristeia Capital Greenwich, Connecticut $7.69B AUM 15.48% 1-Year Est. Return
CCWA
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BFM
Boothbay Fund Management New York $7.6B AUM 109.3% 1-Year Est. Return
CG
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CGH
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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.