Whitebox Advisors LLC
CIK 1257391 · Holdings on Dec 31, 2025 · First reported Feb 17, 2026
Top ten holdings
Q4 2025- 958102AT215.63%
- LITE6.29%
- 01609WBG63.88%
- 833445AB53.34%
- 833445AD13.23%
- 278768AB23.06%
- 55826TAB83.04%
- 038169AB42.73%
- 89677QAB32.42%
- 86800UAB02.27%
Share classes counted separately45.89%
Portfolio value by quarter
What changed this quarter?
Within preview · weight change- 958102AT2Weight increased · +3.44 pp12.19% → 15.63%Shares 0 (0.00%)
- LITEWeight increased · +3.31 pp2.98% → 6.29%Shares +4.58M (+6.90%)
- 594972AN1Weight decreased · -1.63 pp3.69% → 2.06%Shares 0 (0.00%)
Weight = security value ÷ total reported holdings value. Changes are in percentage points; price moves also affect weights, so they are not trade sizes.
Top 10 holdings 25
USD · B = billion · M = million; expand a row for exact values| # | Security | Value | Weight | Quantity | Weight / quantity change | Activity | |
|---|---|---|---|---|---|---|---|
| 01 | 958102AT2WESTERN DIGITAL CORPNOTE 3.000%11/1 View history and evidence | $936.93M | 15.63% | 204.40M principal (USD) | 12.19% → 15.63%+3.44 pp 0 (0.00%) | Unchanged | ↗▾ |
| 02 | LITELUMENTUM HOLDINGS INCNOTE 1.500%12/1 View history and evidence | $377.28M | 6.29% | 71.03M principal (USD) | 2.98% → 6.29%+3.31 pp +4.58M (+6.90%) | Added | ↗▾ |
| 03 | 01609WBG6ALIBABA GROUP HOLDINGNOTE 0.500% 6/0 View history and evidence | $232.79M | 3.88% | 149.90M principal (USD) | 2.42% → 3.88%+1.46 pp +79.17M (+111.94%) | Added | ↗▾ |
| 04 | 833445AB5SNOWFLAKE INCNOTE 10/0 View history and evidence | $200.47M | 3.34% | 134.95M principal (USD) | 3.70% → 3.34%-0.36 pp +4.00M (+3.05%) | Added | ↗▾ |
| 05 | 833445AD1SNOWFLAKE INCNOTE 10/0 View history and evidence | $193.47M | 3.23% | 125.31M principal (USD) | 2.45% → 3.23%+0.78 pp +41.10M (+48.81%) | Added | ↗▾ |
| 06 | 278768AB2ECHOSTAR CORPNOTE 3.875%11/3 View history and evidence | $183.49M | 3.06% | 54.94M principal (USD) | 1.93% → 3.06%+1.13 pp +12.73M (+30.18%) | Added | ↗▾ |
| 07 | 55826TAB8SPHERE ENTERTAINMENT CONOTE 3.500%12/0 View history and evidence | $182.45M | 3.04% | 66.62M principal (USD) | 2.34% → 3.04%+0.70 pp 0 (0.00%) | Unchanged | ↗▾ |
| 08 | 038169AB4APPLIED DIGITAL CORPNOTE 2.750% 6/0 View history and evidence | $163.93M | 2.73% | 60.80M principal (USD) | Prior unavailable +60.80M | New | ↗▾ |
| 09 | 89677QAB3TRIP.COM GROUP LTDNOTE 0.750% 6/1 View history and evidence | $144.87M | 2.42% | 117.83M principal (USD) | 2.51% → 2.42%-0.09 pp +11.83M (+11.16%) | Added | ↗▾ |
| 10 | 86800UAB0SUPER MICRO COMPUTER INCNOTE 3.500% 3/0 View history and evidence | $136.06M | 2.27% | 153.10M shares | 3.09% → 2.27%-0.82 pp -10.00M (-6.13%) | Reduced | ↗▾ |
Options overlay 29
$1.19B notionalPut and Call positions are separate. Notional is based on underlying securities, not option premium, market value or net exposure. Quantities are underlying shares.
| Security | Put / Call | Underlying shares | Notional | Quantity change | |
|---|---|---|---|---|---|
SPYSS SPDR S&P 500 ETF TRUST-USTR UNIT View history and evidence | Put | 450.00K | $306.86M | -200.00K (-30.77%) | ▾ |
NVDANVIDIA CORP View history and evidence | Put | 1.00M | $186.50M | +800.00K (+400.00%) | ▾ |
IBITISHARES BITCOIN TRUST ETFSHS BEN INT View history and evidence | Put | 3.00M | $148.95M | +1.00M (+50.00%) | ▾ |
3 / 29 options · preview only
Exited positions 73
| Security | Type | Shares out | Value out | Previous filing | This filing |
|---|---|---|---|---|---|
| 093712AM9 BLOOM ENERGY CORP | Non-derivative | -99,776,000 | -$413.51M | SEC filing ↗ | SEC filing ↗ |
| 093712AK3 BLOOM ENERGY CORP | Non-derivative | -64,362,000 | -$292.04M | SEC filing ↗ | SEC filing ↗ |
| VRNA VERONA PHARMA PLC - ADR | Non-derivative | -1,566,501 | -$167.16M | SEC filing ↗ | SEC filing ↗ |
3 / 73 preview exits. Up to 30 exit records are previewed. Exit means absent from the current filing; execution date, price and proceeds are unknown.
Every number has a source.
CIK 1257391 · Period 2025-12-31
Data loaded 2026-09-23 · First reported 2026-02-17
Amendments and versions
{
"amendments_merged": [
{
"action": "MERGE_ADD",
"accession": "0000905148-26-003955",
"cover_total": 142016274,
"filing_date": "2026-08-26",
"claimed_type": "NEW HOLDINGS",
"confidential": false,
"positions_added": 3,
"positions_restated": 0,
"positions_cancelled": 0
}
],
"prior_versions": null,
"cover_table_value": 7047598395
}Research all 495 reported holdings.
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