WHITEBOX ADVISORS LLC

CIK

1257391

Location

MINNEAPOLIS, MN

Portfolio Value

Mid $2,465,099,234

Diversification

Diversified

Filing Date

Global Rank

#1,073 / 8,605 ▲ 188 · as of Mar 2026

Top Industry

Shell Companies 19.2%

3Y Alpha vs SPY

-16.7%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+6.7%

SPY

+76.5%

Annualised alpha

-18.7%

Max drawdown

−27.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

237 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

13.2%

−2.6 pts

Top 5

36.6%

−6.5 pts

Top 10

52.1%

−4.1 pts

HHI

404

Diversified−113

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	24.1%	$594,627,410	156
Unclassified	16.2%	$399,398,778	9
Technology	15.9%	$391,747,947	8
Healthcare	13.2%	$325,347,923	11
Communication Services	7.8%	$193,026,471	11
Industrials	7.7%	$189,861,143	9
Energy	6.2%	$152,284,398	6
Consumer Cyclical	4.1%	$100,571,621	11
Basic Materials	2.8%	$68,554,156	7
Real Estate	1.5%	$36,102,780	4
Consumer Defensive	0.3%	$7,764,257	3
Utilities	0.2%	$5,812,350	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

21 positions

Ticker	Company	Δ Shares	Shares	Value
SMCI	Super Micro Computer, Inc.	+2,500,000	4,600,000	$104,742,000
WBD	Warner Bros. Discovery, Inc.	+1,965,000	2,715,001	$74,553,927
MARA	MARA Holdings, Inc.	+1,500,000	5,369,200	$43,812,672
SABR	Sabre Corp	+1,272,216	2,272,216	$3,294,713
CYH	Community Health Systems Inc	+926,364	3,127,884	$9,195,978
MERC	Mercer International Inc.	+371,639	1,057,658	$1,501,874
IHRT	iHeartMedia, Inc.	+275,000	400,000	$1,168,000
GTLS	Chart Industries Inc	+198,886	758,887	$156,899,887
HPP	Hudson Pacific Properties, Inc.	+178,077	189,080	$1,117,462
BLCO	Bausch & Lomb Corp	+150,641	1,101,854	$17,519,478
GT	Goodyear Tire & Rubber Co /Oh/	+130,000	871,089	$5,775,320
PPLI	People Inc	+90,819	217,383	$8,701,841
PCQ	Pimco California Municipal Income Fund	+88,995	284,471	$2,440,761
SPY	Spdr S&P 500 ETF Trust	+50,000	500,000	$325,170,000
BHC	Bausch Health Companies Inc.	+20,175	564,672	$3,049,228
MPT	Medical Properties Trust Inc	+15,000	1,791,000	$8,292,330
CZR	Caesars Entertainment, Inc.	+9,087	113,165	$2,990,950
WHR	Whirlpool Corp /De/	+4,400	17,413	$938,908
HRI	Herc Holdings Inc	+3,800	12,130	$1,207,541
FISV	Fiserv Inc	+3,400	18,702	$1,043,571
VSXY	Victoria's Secret & Co.	+750	10,890	$504,860
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
AMC	Amc Entertainment Holdings, Inc.	−1,778,400	1,000,000	$980,000
IBIT	iShares Bitcoin Trust ETF	−1,500,000	1,500,000	$57,630,000
DCH	Dauch Corp	−950,500	2,293,053	$13,597,804
LUMN	Lumen Technologies, Inc.	−820,000	3,520,000	$24,464,000
SRPT	Sarepta Therapeutics, Inc.	−596,200	214,600	$4,669,696
GRFS	Grifols SA	−553,670	2,067,798	$16,583,739
CCO	Clear Channel Outdoor Holdings, Inc.	−456,149	2,003,835	$4,749,088
ELBM	Electra Battery Materials Corp	−363,905	8,200,099	$4,592,055
SVC	Service Properties Trust	−300,000	3,772,799	$25,560,713
NVDA	Nvidia Corp	−200,000	800,000	$139,520,000
NWSA	News Corp	−179,303	68,507	$1,707,879
CSTM	Constellium SE	−153,000	346,660	$8,520,902
UAA	Under Armour, Inc.	−114,573	1,186,792	$7,013,940
HTZ	Hertz Global Holdings, Inc	−100,000	1,469,700	$6,775,317
MGM	MGM Resorts International	−99,181	186,869	$6,916,021
RIG	Transocean Ltd.	−50,000	1,000,000	$6,630,000
FMC	Fmc Corp	−31,067	17,622	$303,450
ACI	Albertsons Companies, Inc.	−18,000	326,582	$5,564,957
ACHC	Acadia Healthcare Company, Inc.	−17,500	29,955	$700,647
SIRI	Sirius Xm Holdings Inc.	−17,000	153,943	$3,553,004
CHRD	Chord Energy Corp	−15,000	159,476	$22,674,297
CE	Celanese Corp	−10,000	11,206	$737,018
TFPM	Triple Flag Precious Metals Corp.	−7,680	1,518,950	$52,722,754
FUN	Six Flags Entertainment Corporation/NEW	−6,000	40,180	$713,195
GPOR	Gulfport Energy Corp	−5,000	219,627	$46,466,484
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
PEN	Penumbra Inc	445,001	$146,124,978
WBS	Webster Financial Corp	1,925,001	$133,633,569
TERN	Terns Pharmaceuticals, Inc.	1,500,001	$79,080,052
VAL	Valaris Ltd	583,937	$57,249,183
NBIS	Nebius Group N.V.	500,000	$51,880,000
AAPL	Apple Inc.	200,000	$50,758,000
MASI	Masimo Corp	270,001	$48,025,077
CUK	CARNIVAL PLC	1,300,036	$33,501,927
TSLA	Tesla, Inc.	75,000	$27,881,250
LITE	Lumentum Holdings Inc.	30,773	$21,626,033
SM	SM Energy Co	602,301	$18,779,745
HAVA	Harvard Ave Acquisition Corp	750,000	$7,507,500
XCBE	X3 Acquisition Corp. Ltd.	700,000	$6,888,000
DBCA	D. Boral Acquisition I Corp.	500,000	$4,930,000
MMTX	Miluna Acquisition Corp	400,000	$4,004,000
SORN	Soren Acquisition Corp.	400,000	$3,952,000
MLAA	Mountain Lake Acquisition Corp. II	400,000	$3,940,000
ALOV	Aldabra 4 Liquidity Opportunity Vehicle, Inc.	400,000	$3,932,000
BN	BROOKFIELD Corp /ON/	96,265	$3,895,844
IRAB	Iris Acquisition Corp II	375,200	$3,684,464
ZKP	Lafayette Digital Acquisition Corp. I	350,000	$3,451,000
IRHO	Iron Horse Acquisition II Corp.	350,000	$3,451,000
BTDR	Bitdeer Technologies Group	392,800	$3,397,720
CLBR	Colombier Acquisition Corp. III	300,000	$3,018,000
EVOX	Evolution Global Acquisition Corp	300,000	$2,988,000
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
WOLF	Wolfspeed, Inc.	4,600,000	$80,086,000
PLTR	Palantir Technologies Inc.	200,000	$35,550,000
EXAS	EXACT SCIENCES CORP	307,001	$31,179,021
RIVN	Rivian Automotive, Inc. / DE	1,456,300	$28,703,673
KKR	KKR & Co. Inc.	200,000	$25,496,000
RUN	Sunrun Inc.	962,500	$17,710,000
HLF	Herbalife Ltd.	970,000	$12,503,300
ZTS	Zoetis Inc.	74,223	$9,338,737
RYAAY	Ryanair Holdings PLC	116,658	$8,421,541
CHKP	Check Point Software Technologies Ltd	36,630	$6,797,062
TGNA	TEGNA INC	281,537	$5,464,633
DMB	BNY Mellon Municipal Bond Infrastructure Fund, Inc.	310,458	$3,411,933
FTW	PRESIDIO PRODUCTION Co	300,000	$3,147,000
NIO	NIO Inc.	485,000	$2,473,500
TBN	Tamboran Resources Corp	78,832	$2,146,595
VCIC	Vine Hill Capital Investment Corp.	150,000	$1,615,500
VACH	Voyager Acquisition Corp./Cayman Islands	150,000	$1,600,500
COLA	Columbus Acquisition Corp/Cayman Islands	150,000	$1,558,200
GLIBA	Liberty Capital Corp/NV	41,785	$1,540,612
PELI	Pelican Acquisition Corp	150,000	$1,522,650
BYND	Beyond Meat, Inc.	1,811,200	$1,485,184
CAPN	Cayson Acquisition Corp	125,000	$1,330,000
RIBB	Ribbon Acquisition Corp.	125,000	$1,297,500
NEXM	NexMetals Mining Corp.	254,377	$994,614
NFE	New Fortress Energy Inc.	600,000	$684,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

237 positions · $2,465,099,234 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 237 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Added	500,000	+50,000	$325,170,000	+6.0%	13.19%
GTLS	Chart Industries Inc Industrials	Added	758,887	+198,886	$156,899,887	+35.9%	6.36%
PEN	Penumbra Inc Healthcare	NEW	445,001	NEW	$146,124,978	NEW	5.93%
NVDA	Nvidia Corp Technology	Reduced	800,000	-200,000	$139,520,000	−25.2%	5.66%
WBS	Webster Financial Corp Financial Services	NEW	1,925,001	NEW	$133,633,569	NEW	5.42%
SMCI	Super Micro Computer, Inc. Technology	Added	4,600,000	+2,500,000	$104,742,000	+70.4%	4.25%
TERN	Terns Pharmaceuticals, Inc. Healthcare	NEW	1,500,001	NEW	$79,080,052	NEW	3.21%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	2,715,001	+1,965,000	$74,553,927	+244.9%	3.02%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Held	200,000	0	$67,590,000	+11.2%	2.74%
IBIT	iShares Bitcoin Trust ETF	Reduced	1,500,000	-1,500,000	$57,630,000	−61.3%	2.34%
VAL	Valaris Ltd Energy	NEW	583,937	NEW	$57,249,183	NEW	2.32%
TFPM	Triple Flag Precious Metals Corp. Basic Materials	Reduced	1,518,950	-7,680	$52,722,754	+4.0%	2.14%
NBIS	Nebius Group N.V. Communication Services	NEW	500,000	NEW	$51,880,000	NEW	2.10%
AAPL	Apple Inc. Technology	NEW	200,000	NEW	$50,758,000	NEW	2.06%
MASI	Masimo Corp Healthcare	NEW	270,001	NEW	$48,025,077	NEW	1.95%
GPOR	Gulfport Energy Corp Energy	Reduced	219,627	-5,000	$46,466,484	−0.5%	1.88%
MARA	MARA Holdings, Inc. Financial Services	Added	5,369,200	+1,500,000	$43,812,672	+26.1%	1.78%
CUK	CARNIVAL PLC Consumer Cyclical	NEW	1,300,036	NEW	$33,501,927	NEW	1.36%
TSLA	Tesla, Inc. Consumer Cyclical	NEW	75,000	NEW	$27,881,250	NEW	1.13%
SVC	Service Properties Trust Real Estate	Reduced	3,772,799	-300,000	$25,560,713	−31.8%	1.04%
LUMN	Lumen Technologies, Inc. Communication Services	Reduced	3,520,000	-820,000	$24,464,000	−27.5%	0.99%
CHRD	Chord Energy Corp Energy	Reduced	159,476	-15,000	$22,674,297	+40.2%	0.92%
LITE	Lumentum Holdings Inc. Technology	NEW	30,773	NEW	$21,626,033	NEW	0.88%
SM	SM Energy Co Energy	NEW	602,301	NEW	$18,779,745	NEW	0.76%
BLCO	Bausch & Lomb Corp Healthcare	Added	1,101,854	+150,641	$17,519,478	+7.8%	0.71%
LBRDA	Liberty Broadband Corp Communication Services	Held	348,076	0	$17,480,376	+4.0%	0.71%
GRFS	Grifols SA Healthcare	Reduced	2,067,798	-553,670	$16,583,739	−32.3%	0.67%
DCH	Dauch Corp Consumer Cyclical	Reduced	2,293,053	-950,500	$13,597,804	−34.6%	0.55%
CYH	Community Health Systems Inc Healthcare	Added	3,127,884	+926,364	$9,195,978	+33.9%	0.37%
PPLI	People Inc Communication Services	Added	217,383	+90,819	$8,701,841	+75.8%	0.35%
CSTM	Constellium SE Basic Materials	Reduced	346,660	-153,000	$8,520,902	−9.5%	0.35%
VNME	Vendome Acquisition Corp I Financial Services	Held	825,000	0	$8,316,000	+0.5%	0.34%
MPT	Medical Properties Trust Inc Real Estate	Added	1,791,000	+15,000	$8,292,330	−6.6%	0.34%
TACH	Titan Acquisition Corp. Financial Services	Held	800,000	0	$8,232,000	+0.4%	0.33%
GIW	GigCapital8 Corp. Financial Services	Held	800,000	0	$7,976,000	+0.8%	0.32%
JBLU	Jetblue Airways Corp Industrials	Held	1,750,000	0	$7,735,000	−2.9%	0.31%
FERA	Fifth Era Acquisition Corp I Financial Services	Held	750,000	0	$7,725,000	+0.1%	0.31%
HAVA	Harvard Ave Acquisition Corp Financial Services	NEW	750,000	NEW	$7,507,500	NEW	0.30%
UAA	Under Armour, Inc. Consumer Cyclical	Reduced	1,186,792	-114,573	$7,013,940	+8.4%	0.28%
MGM	MGM Resorts International Consumer Cyclical	Reduced	186,869	-99,181	$6,916,021	−33.7%	0.28%
XCBE	X3 Acquisition Corp. Ltd. Financial Services	NEW	700,000	NEW	$6,888,000	NEW	0.28%
HTZ	Hertz Global Holdings, Inc Industrials	Reduced	1,469,700	-100,000	$6,775,317	−16.0%	0.27%
SZZL	Sizzle Acquisition Corp. II Financial Services	Held	650,000	0	$6,682,000	+1.2%	0.27%
SOUL	Soulpower Acquisition Corp. Financial Services	Held	650,000	0	$6,662,500	+1.0%	0.27%
RIG	Transocean Ltd. Energy	Reduced	1,000,000	-50,000	$6,630,000	+52.9%	0.27%
BCAR	D. Boral ARC Acquisition I Corp. Financial Services	Held	650,000	0	$6,578,000	+0.9%	0.27%
HDRN	Hadron Energy, Inc. Industrials	Held	550,000	0	$5,857,500	+1.0%	0.24%
GT	Goodyear Tire & Rubber Co /Oh/ Consumer Cyclical	Added	871,089	+130,000	$5,775,320	−11.0%	0.23%
FAC	Factorial Energy Inc. Industrials	Held	550,000	0	$5,640,250	−0.4%	0.23%
ACI	Albertsons Companies, Inc. Consumer Defensive	Reduced	326,582	-18,000	$5,564,957	−5.9%	0.23%