Q2 2026 13F · SEC CIK 1257391

Whitebox Advisors LLC

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.0B
Reported positions: 581
Top holdings a year, 3 yrs: -2.6%
Assets under management: $15.7B

Whitebox Advisors LLC is a hedge fund that reported 581 positions worth $2.0B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Penumbra, Inc. (PEN, 7.8%), Bio-Techne Corp (TECH, 7.2%), Webster Finl Corp (WBS, 5.8%). A portfolio copying its top holdings returned -2.6% a year over the last 3 years, against 19.8% for the S&P 500.

Whitebox Advisors LLC holdings largest 50 of 581 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Whitebox Advisors LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
PENPenumbra, Inc.	7.8%	8.2%	506,881	+13.9%	$160.0M
TECHBio-Techne Corp	7.2%	—	2,100,001	—	$148.4M
WBSWebster Finl Corp	5.8%	7.5%	1,560,001	-19.0%	$119.2M
12769G100Caesars Entertainment Inc Ne	5.0%	—	3,379,426	—	$102.0M
AZULAzul S A	3.7%	—	8,362,136	—	$75.2M
SMCIPSuper Micro Computer Inc	3.6%	—	1,400,000	—	$72.7M
VALValaris Ltd	3.0%	3.2%	850,696	+45.7%	$61.8M
APGEApogee Therapeutics Inc	2.9%	—	450,001	—	$59.7M
GPORGulfport Energy Corp	2.3%	2.6%	274,627	+25.0%	$46.6M
TFPMTriple Flag Precious Metal	2.2%	3.0%	1,518,950	+0.0%	$45.5M
WBDWarner Bros Discovery Inc	2.0%	2.5%	1,525,001	-5.6%	$40.7M
68389X204Oracle Corp	1.8%	2.3%	800,000	-11.1%	$36.0M
HEI-AHeico Corp	1.7%	1.5%	132,104	+5.9%	$34.1M
NUVLNuvalent Inc	1.7%	—	275,001	—	$34.0M
OPIOffice Properties Income Trust	1.5%	—	1,748,605	—	$29.7M
LLYVKLiberty Live Holdings Inc	1.1%	0.9%	217,989	+35.0%	$23.0M
GTLSChart Inds Inc	1.0%	8.8%	100,046	-86.8%	$20.9M
81761L102Service Pptys Tr	0.8%	0.3%	9,581,711	+154.0%	$16.2M
CHRDChord Energy Corporation	0.7%	1.3%	124,476	-21.9%	$14.2M
SMSm Energy Company	0.6%	1.1%	496,601	-17.5%	$13.0M
CYHCommunity Health Systems Inc	0.6%	0.5%	3,732,743	+19.3%	$12.5M
DCHDauch Corp	0.6%	0.8%	2,158,683	-5.9%	$11.7M
LBRDALiberty Broadband Corp	0.6%	1.0%	348,076	+0.0%	$11.6M
BLCOBausch Plus Lomb Corp	0.6%	1.0%	686,976	-37.7%	$11.4M
GRFSGrifols S A	0.6%	0.9%	1,603,483	-22.5%	$11.4M
FOXFox Corp	0.5%	0.5%	198,874	+13.5%	$9.3M
UPWheels Up Experience Inc	0.4%	—	1,021,597	—	$9.2M
NWSANews Corp New	0.4%	—	343,120	—	$8.5M
VNMEVendome Acquisition Corp I	0.4%	0.5%	825,000	+0.0%	$8.4M
TACHTitan Acquisition Corp	0.4%	0.5%	800,000	+0.0%	$8.3M
GIWGigcapital8 Corp Cmn Class A	0.4%	0.4%	800,000	+0.0%	$8.1M
IACOIdea Acquisition Corp	0.4%	—	797,378	—	$7.9M
FERAFifth Era Acquisition Corp I	0.4%	0.4%	750,000	+0.0%	$7.8M
HAVAHarvard Ave Acquisition-Cl A	0.4%	0.4%	750,000	+0.0%	$7.6M
XCBEX3 Acquisition Corp Ltd	0.3%	0.4%	700,000	+0.0%	$7.0M
PONOPono Capital Four Inc	0.3%	—	700,000	—	$7.0M
GTGoodyear Tire & Rubr Co	0.3%	0.3%	1,030,739	+18.3%	$6.8M
LBRDKLiberty Broadband Corp	0.3%	4.2%	204,475	-86.2%	$6.8M
BCARD Boral Arc Acquisition I Cl A Ord	0.3%	0.4%	650,000	+0.0%	$6.8M
SZZLSizzle Acquisition Corp. II	0.3%	0.4%	650,000	+0.0%	$6.7M
SOULSoulpower Acquisition Corp	0.3%	0.4%	650,000	+0.0%	$6.7M
MGMMgm Resorts International	0.3%	0.4%	137,596	-26.4%	$6.6M
UAAUnder Armour Inc	0.3%	0.4%	1,028,992	-13.3%	$6.6M
VOYGVoyager Technologies Inc Com Cl A	0.3%	—	196,156	—	$6.3M
ACIAlbertsons Cos Inc	0.3%	0.3%	461,502	+41.3%	$6.2M
WENNWen Acquisition Corp	0.3%	0.3%	600,000	+0.0%	$6.2M
BEPBrookfield Renewable Energy	0.3%	0.3%	170,000	+0.0%	$5.9M
RYAAYRyanair Holdings PLC Sponsored	0.3%	—	89,628	—	$5.8M
AACIArmada Acquisition Corp III	0.3%	—	550,000	—	$5.5M
MYXMaywood Acquisition Corp 2	0.3%	—	550,000	—	$5.4M

What Whitebox Advisors LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

Service Pptys Tr+154.0% shares
VAL Valaris Ltd+45.7% shares
ACI Albertsons Cos Inc+41.3% shares
LLYVK Liberty Live Holdings Inc+35.0% shares
GPOR Gulfport Energy Corp+25.0% shares
CYH Community Health Systems Inc+19.3% shares
GT Goodyear Tire & Rubr Co+18.3% shares
PEN Penumbra, Inc.+13.9% shares

Reduced

GTLS Chart Inds Inc-86.8% shares
LBRDK Liberty Broadband Corp-86.2% shares
BLCO Bausch Plus Lomb Corp-37.7% shares
MGM Mgm Resorts International-26.4% shares
GRFS Grifols S A-22.5% shares
CHRD Chord Energy Corporation-21.9% shares
WBS Webster Finl Corp-19.0% shares
SM Sm Energy Company-17.5% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: —
3 years: -2.6% /yr; S&P 500 +19.8%
5 years: +8.0% /yr; S&P 500 +10.3%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$2.0B	581
Q1 2026	$1.8B	493
Q4 2025	$1.5B	403
Q3 2025	$1.4B	331
Q2 2025	$1.2B	286
Q1 2025	$1.0B	221
Q4 2024	$603.1M	186
Q3 2024	$700.4M	230
Q2 2024	$769.7M	260
Q1 2024	$769.3M	255
Q4 2023	$737.6M	252
Q3 2023	$706.5M	312

Questions about Whitebox Advisors LLC's portfolio

What stocks does Whitebox Advisors LLC own?

Whitebox Advisors LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 581 positions worth $2.0B. The largest are Penumbra, Inc. (PEN) at 7.8%, Bio-Techne Corp (TECH) at 7.2%, Webster Finl Corp (WBS) at 5.8%, Caesars Entertainment Inc Ne at 5.0% and Azul S A (AZUL) at 3.7%.

What did Whitebox Advisors LLC buy last quarter?

In Q2 2026, Whitebox Advisors LLC added Service Pptys Tr (+154.0% shares), Valaris Ltd (VAL) (+45.7% shares) and Albertsons Cos Inc (ACI) (+41.3% shares), compared with its Q1 2026 filing.

What did Whitebox Advisors LLC sell last quarter?

In Q2 2026, Whitebox Advisors LLC cut from its top 50 Terns Pharmaceuticals Inc (TERN), cut from its top 50 Masimo Corp (MASI), cut from its top 50 Carnival PLC (CUK), cut from its top 50 Lumentum Hldgs Inc (LITE), cut from its top 50 People Inc (PPLI), Chart Inds Inc (GTLS) (-86.8% shares), Liberty Broadband Corp (LBRDK) (-86.2% shares) and Bausch Plus Lomb Corp (BLCO) (-37.7% shares), compared with its Q1 2026 filing.

How has Whitebox Advisors LLC's portfolio performed?

A portfolio copying Whitebox Advisors LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned -2.6% a year over the last 3 years, against +19.8% for the S&P 500. Over 5 years: +8.0% a year against +10.3%.

When is Whitebox Advisors LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Whitebox Advisors LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Whitebox Advisors LLC manage?

Whitebox Advisors LLC reported $15.7B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.0B.