WHITEBOX ADVISORS LLC

Q4 2025 13F-HR Detailed Holdings

Location
Minneapolis, MN
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
492
Total value ($000)
$7,047,598
Net value change ($000)
+583,748 (9.0%)
New positions
85
Sold out positions
37
Turnover %
63.8%
Sector allocation + QoQ delta (equities-only)

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

Prev filing: 11/14/2025 Next filing: — 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 Q3 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)
CADE 128,520 NEW
CMA 108,663 NEW
GTLS 51,920 81.7%
CFLT 31,896 NEW
EXAS 31,179 NEW
CDTX 27,611 NEW
WBD 10,361 887.8%
CYBR 9,602 14.4%
FOXA 9,475 39.2%
ZTS 9,339 NEW
Top Reduces (Value $000, Stocks/ETFs)
VRNA -167,161 -100.0%
COOP -66,432 -100.0%
WNS -59,459 -100.0%
KEL -25,836 -100.0%
INFA -22,678 -100.0%
LBRDA -20,444 -22.2%
VAL -12,384 -100.0%
IAC -7,855 -61.3%
CUK -6,284 -100.0%
LBRDA -5,239 -23.8%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 1,193,893 (16.9% 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.
Filter:
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