WHITEBOX ADVISORS LLC

Q3 2025 13F-HR Detailed Holdings

Location
Minneapolis, MN
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
427
Total value ($000)
$6,463,850
Net value change ($000)
+1,753,419 (37.2%)
New positions
69
Sold out positions
50
Turnover %
67.2%
Sector allocation + QoQ delta (equities-only)

Holdings broken out by other managers reported in the original SEC filing. View aggregated holdings

Prev filing: 8/14/2025 Next filing: 2/17/2026 SEC filing
You are on the SEC detailed breakdown page. Rows are shown as reported in the filing (including other manager, discretion, and voting authority fields), and are not merged like the standard holdings view. Switch to aggregated holdings.

Snapshot: Change Analysis

Compared to Q2 2025
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)
VRNA 167,161 NEW
CYBR 66,675 NEW
GTLS 63,569 NEW
WNS 59,459 NEW
GPOR 27,483 123.7%
FOXA 24,187 NEW
CIVI 13,000 NEW
GLIBA 12,754 NEW
UAA 11,237 NEW
NWSA 8,612 NEW
Top Reduces (Value $000, Stocks/ETFs)
CHX -81,260 -100.0%
AZEK -58,345 -100.0%
LBRDA -44,004 -32.3%
BPMC -39,736 -100.0%
SpringWorks Therapeutics, Inc. -37,366 -100.0%
INFA -27,240 -54.6%
SB -13,263 -100.0%
LBRDA -12,005 -35.3%
AHC -11,592 -100.0%
NE -9,693 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 1,273,236 (19.7% 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 Discretion Other Manager Sole Shared None