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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
+2.03%
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
$8.24B
AUM Growth
+$1.05B
Cap. Flow
-$3.91B
Cap. Flow %
-47.46%
Top 10 Hldgs %
49.22%
Holding
660
New
173
Increased
24
Reduced
29
Closed
87

Top Buys

Rank Stock Value
1
PEN icon
Penumbra
PEN
+$151M
2
WBS
Webster Financial
WBS
+$132M
3
VAL icon
Valaris
VAL
+$45.5M
4
ORCL.PRD
Oracle Corp Preferred Stock Series D
ORCL.PRD
+$42.5M
5
MASI
Masimo
MASI
+$42.4M

Top Sells

Rank Stock Value
1
CADE
Cadence Bank
CADE
+$129M
2
CMA
Comerica
CMA
+$109M
3
CYBR
CyberArk
CYBR
+$76.3M
4
CFLT
Confluent
CFLT
+$31.9M
5
EXAS
Exact Sciences
EXAS
+$31.2M

Sector Composition

Rank Sector Weight
1 Miscellaneous 80.53%
2 Financials 7.07%
3 Healthcare 3.57%
4 Industrials 2.5%
5 Communication Services 2.24%
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
$827B
$325M 3.94%
500,000
+50,000
+11% +$34M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$81.9B
$186M 2.26%
+750,000
New +$193M
GTLS
3
DELISTED
Chart Industries
GTLS
$157M 1.9%
758,887
+198,886
+36% +$41.2M
PEN icon
4
Penumbra
PEN
$12.6B
$146M 1.77%
+445,001
New +$151M
NVDA icon
5
PUT
NVIDIA
NVDA
$5.52T
$140M 1.69%
800,000
-200,000
-20% -$36.7M
WBS
6
DELISTED
Webster Financial
WBS
$134M 1.62%
+1,925,001
New +$132M
SMCI icon
7
PUT
Super Micro Computer
SMCI
$24.9B
$105M 1.27%
4,600,000
+2,500,000
+119% +$75M
LBRDK
8
DELISTED
Liberty Broadband Class C
LBRDK
$74.3M 0.9%
1,477,741
+1,000
+0.1% +$50.4K
TSM icon
9
PUT
TSMC
TSM
$2.22T
$67.6M 0.82%
200,000
– –
IBIT icon
10
PUT
iShares Bitcoin Trust
IBIT
$60.4B
$57.6M 0.7%
1,500,000
-1,500,000
-50% -$64.9M
VAL icon
11
Valaris
VAL
$5.93B
$57.2M 0.69%
+583,937
New +$45.5M
TERN
12
DELISTED
Terns Pharmaceuticals
TERN
$52.7M 0.64%
+1,000,001
New +$41.1M
TFPM icon
13
Triple Flag Precious Metals
TFPM
$7.21B
$52.7M 0.64%
1,518,950
-7,680
-0.5% -$278K
NBIS
14
PUT
Nebius Group N.V.
NBIS
$59.4B
$51.9M 0.63%
+500,000
New +$49.9M
AAPL icon
15
PUT
Apple
AAPL
$4.59T
$50.8M 0.62%
+200,000
New +$52.1M
MASI
16
DELISTED
Masimo
MASI
$48M 0.58%
+270,001
New +$42.4M
GPOR icon
17
Gulfport Energy Corp
GPOR
$3.11B
$46.5M 0.56%
219,627
-5,000
-2% -$994K
WBD icon
18
Warner Bros
WBD
$72.4B
$44.3M 0.54%
1,615,001
+1,215,000
+304% +$34M
ORCL.PRD
19
Oracle Corp Preferred Stock Series D
ORCL.PRD
$40.5M 0.49%
+900,000
New +$42.5M
MARA icon
20
PUT
Marathon Digital Holdings
MARA
$4.59B
$35.7M 0.43%
4,369,200
+500,000
+13% +$4.52M
CUK
21
DELISTED
Carnival PLC
CUK
$33.5M 0.41%
+1,300,036
New +$37.7M
WBD icon
22
PUT
Warner Bros
WBD
$72.4B
$30.2M 0.37%
+1,100,000
New +$30.8M
TSLA icon
23
PUT
Tesla
TSLA
$1.4T
$27.9M 0.34%
+75,000
New +$30.9M
TERN
24
PUT
DELISTED
Terns Pharmaceuticals
TERN
$26.4M 0.32%
+500,000
New +$20.5M
HEI.A icon
25
HEICO Corp Class A
HEI.A
$35.1B
$26.3M 0.32%
124,737
– –
1
2 3 4 5

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SIAU
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SC
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SCB
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AC
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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 Q1 2026 Portfolio in Review

As of Q1 2026, Whitebox Advisors held 660 positions worth $8.24B, up 15% from $7.19B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Whitebox Advisors withdrew a net $3.91B in Q1 2026, closing 87 positions and reducing 29 holdings. Its most notable exit was Cadence Bank, an estimated $129M position sold in full.

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

Against the trend, Whitebox Advisors opened a new position in Penumbra worth $146M.

  • Whitebox Advisors's largest Q1 2026 buy was Penumbra: 445,001 shares worth $146M.
  • Whitebox Advisors added most to Chart Industries in Q1 2026, an estimated $41.2M increase.
  • Whitebox Advisors's biggest Q1 2026 reduction was Fox Class B, cutting an estimated $19.8M.
  • Whitebox Advisors fully exited Cadence Bank in Q1 2026, selling an estimated $129M.
  • Whitebox Advisors's ten largest holdings make up 49% of its $8.24B portfolio in Q1 2026.
  • Whitebox Advisors opened 173 new positions and closed 87 in Q1 2026.
  • Whitebox Advisors's portfolio value rose 15% quarter-over-quarter to $8.24B.

Based on Whitebox Advisors's 13F filing for Q1 2026, filed 15 May 2026.