WHITEBOX ADVISORS LLC

Q1 2025 13F-HR Holdings

Location
Minneapolis, MN
Holdings as of
3/31/2025
Date filed
5/15/2025
Form type
13F-HR
Num holdings
312
Total value ($000)
$3,872,197
Net value change ($000)
+406,552 (11.7%)
New positions
43
Sold out positions
14
Turnover %
53.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 2/14/2025 Next filing: 8/14/2025 SEC filing

Snapshot: Change Analysis

Compared to Q4 2024
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BERRY GLOBAL GROUP, INC. 142,261 NEW
SPY 76,077 NEW
CHX 62,272 NEW
Intra-Cellular Therapies, Inc. 36,278 NEW
AZEK 35,462 NEW
LBRDA 18,045 27.0%
TFPM 13,886 40.1%
LBRDA 13,836 90.2%
KEL 11,685 NEW
CUK 9,248 NEW
Top Reduces (Value $000, Stocks/ETFs)
BA -39,579 -100.0%
IAC -19,574 -48.3%
CIVI -16,834 -100.0%
GRFS -10,329 -35.2%
SIRI -5,298 -61.7%
BHC -5,073 -52.9%
HEI -5,044 -16.9%
DRDB -3,988 -100.0%
NOEM -3,908 -100.0%
NE -2,812 -24.5%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 1,011,694 (26.1% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type