AI Portfolio Summary
In 2025 Q4, WHITEBOX ADVISORS LLC maintained a portfolio of 566 distinct positions. The most significant new addition to the portfolio was APPLIED DIGITAL CORP, which now represents 2.33% of the total fund value. The fund also reduced its exposure to SPDR S&P 500 ETF TR by 30.8%.
Total Positions
566
Quarter
2025 Q4
Top Holding
N/A (13.3%)
Top 10 Concentration
42.1%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 566
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
N/A
WESTERN DIGITAL...
|
—
|
Bond/Debt | 13.29% | 10.14% |
#1
Prev: #1
|
7.0 | no change | no change |
P
S
|
204,400,000 | $936,928,720 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
LUMENTUM HLDGS ...
|
—
|
Bond/Debt | 5.35% | 2.48% |
#2
6
Prev: #8
|
5.6 | 4,583,000 | 6.9% |
P
S
|
71,025,000 | $377,284,800 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
SPY
PUT
SPDR S&P 500 ET...
|
PUT Option | 4.35% | 6.70% |
#3
1
Prev: #2
|
2.7 | -200,000 | -30.8% |
P
S
|
450,000 | $306,864,000 |
$391.57
+75.2%
|
2005 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
ALIBABA GROUP H...
|
—
|
Bond/Debt | 3.30% | 2.01% |
#4
9
Prev: #13
|
4.8 | 79,172,000 | 111.9% |
P
S
|
149,900,000 | $232,794,700 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
SNOWFLAKE INC
|
—
|
Bond/Debt | 2.84% | 3.08% |
#5
Prev: #5
|
2.1 | 4,000,000 | 3.1% |
P
S
|
134,950,000 | $200,468,225 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
SNOWFLAKE INC
|
—
|
Bond/Debt | 2.75% | 2.04% |
#6
5
Prev: #11
|
3.6 | 41,100,000 | 48.8% |
P
S
|
125,307,000 | $193,474,008 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
NVDA
PUT
NVIDIA CORPORAT...
|
PUT Option | 2.65% | 0.58% |
#7
33
Prev: #40
|
4.1 | 800,000 | 400.0% |
P
S
|
1,000,000 | $186,500,000 | 2011 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
ECHOSTAR CORP
|
—
|
Bond/Debt | 2.60% | 1.61% |
#8
8
Prev: #16
|
3.5 | 12,735,000 | 30.2% |
P
S
|
54,937,086 | $183,489,867 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
SPHERE ENTERTAI...
|
—
|
Bond/Debt | 2.59% | 1.95% |
#9
5
Prev: #14
|
2.0 | no change | no change |
P
S
|
66,618,000 | $182,453,852 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
APPLIED DIGITAL...
|
—
|
Bond/Debt | 2.33% | — |
#10
Prev: #—
|
4.4 | 60,800,000 | no change |
NEW
|
60,800,000 | $163,932,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
IBIT
PUT
ISHARES BITCOIN...
|
PUT Option | 2.11% | 2.01% |
#11
1
Prev: #12
|
3.8 | 1,000,000 | 50.0% |
P
S
|
3,000,000 | $148,950,000 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
TRIP COM GROUP ...
|
—
|
Bond/Debt | 2.06% | 2.09% |
#12
2
Prev: #10
|
2.8 | 11,832,000 | 11.2% |
P
S
|
117,832,000 | $144,874,444 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
LUMENTUM HLDGS ...
|
—
|
Bond/Debt | 1.88% | 0.67% |
#13
23
Prev: #36
|
3.3 | 9,980,000 | 38.7% |
P
S
|
35,780,000 | $132,722,332 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
CADE
CADENCE BANK
|
Financial Services | 1.82% | — |
#14
Prev: #—
|
4.2 | 3,000,001 | no change |
NEW
|
3,000,001 | $128,520,043 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
STRATEGY INC
|
—
|
Bond/Debt | 1.75% | 3.07% |
#15
9
Prev: #6
|
1.7 | no change | no change |
P
S
|
111,500,000 | $123,263,250 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
CENTRUS ENERGY ...
|
—
|
Bond/Debt | 1.73% | — |
#16
Prev: #—
|
4.2 | 45,600,000 | no change |
NEW
|
45,600,000 | $122,230,800 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
GTLS
CHART INDS INC
|
Industrials | 1.64% | 0.98% |
#17
6
Prev: #23
|
3.7 | 242,395 | 76.3% |
P
S
|
560,001 | $115,489,006 | 2014 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CMA
COMERICA INC
|
Financial Services | 1.54% | — |
#18
Prev: #—
|
4.1 | 1,250,001 | no change |
NEW
|
1,250,001 | $108,662,587 | 2009 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
COINBASE GLOBAL...
|
—
|
Bond/Debt | 1.31% | 2.17% |
#19
10
Prev: #9
|
1.0 | -21,728,000 | -19.4% |
P
S
|
90,042,000 | $92,112,966 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
UPSTART HLDGS I...
|
—
|
Bond/Debt | 1.25% | — |
#20
Prev: #—
|
4.0 | 70,000,000 | no change |
NEW
|
70,000,000 | $88,200,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
JETBLUE AIRWAYS...
|
—
|
Bond/Debt | 1.17% | 1.51% |
#21
3
Prev: #18
|
1.0 | -9,229,000 | -9.8% |
P
S
|
85,071,000 | $82,306,193 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
CYBR
CYBERARK SOFTWA...
|
Technology | 1.08% | 1.03% |
#22
1
Prev: #21
|
2.9 | 33,000 | 23.9% |
P
S
|
171,001 | $76,276,706 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
RIVIAN AUTOMOTI...
|
—
|
Bond/Debt | 1.03% | 0.81% |
#23
8
Prev: #31
|
2.4 | 8,000,000 | 14.1% |
P
S
|
64,737,000 | $72,505,440 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
LBRDK
LIBERTY BROADBA...
|
Communication Services | 1.02% | 1.43% |
#24
5
Prev: #19
|
0.9 | 25,461 | 1.8% |
P
S
|
1,476,741 | $71,769,613 | 2021 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WOLF
PUT
WOLFSPEED INC
|
PUT Option | 0.99% | 0.07% |
#25
100
Prev: #125
|
1.4 | no change | no change |
P
S
|
4,000,000 | $69,640,000 | 2023 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
STRATEGY INC
|
—
|
Bond/Debt | 0.94% | — |
#26
Prev: #—
|
3.9 | 81,050,000 | no change |
NEW
|
81,050,000 | $66,347,530 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
WAYFAIR INC
|
—
|
Bond/Debt | 0.93% | 0.92% |
#27
2
Prev: #25
|
1.4 | no change | no change |
P
S
|
28,550,000 | $65,336,675 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
OIH
PUT
VANECK ETF TRUS...
|
PUT Option | 0.92% | 0.92% |
#28
2
Prev: #26
|
1.4 | no change | no change |
P
S
|
227,700 | $64,842,129 | 2023 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
MARA HOLDINGS I...
|
—
|
Bond/Debt | 0.87% | — |
#29
Prev: #—
|
3.8 | 74,000,000 | no change |
NEW
|
74,000,000 | $61,568,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
SMCI
PUT
SUPER MICRO COM...
|
PUT Option | 0.87% | 0.89% |
#30
3
Prev: #27
|
3.3 | 900,000 | 75.0% |
P
S
|
2,100,000 | $61,467,000 | 2014 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
COINBASE GLOBAL...
|
—
|
Bond/Debt | 0.86% | 0.49% |
#31
11
Prev: #42
|
3.3 | 32,250,000 | 112.1% |
P
S
|
61,021,000 | $60,868,448 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
TSM
PUT
TAIWAN SEMICOND...
|
PUT Option | 0.86% | — |
#32
Prev: #—
|
3.8 | 200,000 | no change |
NEW
|
200,000 | $60,778,000 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
MARA HOLDINGS I...
|
—
|
Bond/Debt | 0.78% | — |
#33
Prev: #—
|
3.8 | 69,850,000 | no change |
NEW
|
69,850,000 | $55,041,800 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
OMEROS CORP
|
—
|
Bond/Debt | 0.77% | 0.21% |
#34
42
Prev: #76
|
2.3 | 1,760,000 | 10.8% |
P
S
|
18,033,000 | $54,031,376 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
UPSTART HLDGS I...
|
—
|
Bond/Debt | 0.75% | — |
#35
Prev: #—
|
3.8 | 60,730,000 | no change |
NEW
|
60,730,000 | $52,911,013 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
ENCORE CAP GROU...
|
—
|
Bond/Debt | 0.74% | 0.76% |
#36
3
Prev: #33
|
0.8 | -2,500,000 | -5.0% |
P
S
|
47,512,000 | $52,168,176 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
TFPM
TRIPLE FLAG PRE...
|
Basic Materials | 0.72% | 0.81% |
#37
8
Prev: #29
|
0.8 | -272,332 | -15.1% |
P
S
|
1,526,630 | $50,718,307 | 2022 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GPOR
GULFPORT ENERGY...
|
Energy | 0.66% | 0.77% |
#38
6
Prev: #32
|
0.8 | -50,000 | -18.2% |
P
S
|
224,627 | $46,720,170 | 2007 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
CLEANSPARK INC
|
—
|
Bond/Debt | 0.66% | — |
#39
Prev: #—
|
3.8 | 45,135,000 | no change |
NEW
|
45,135,000 | $46,687,644 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
STRATEGY INC
|
—
|
Bond/Debt | 0.61% | 1.08% |
#40
20
Prev: #20
|
1.2 | no change | no change |
P
S
|
37,000,000 | $43,068,000 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
SUNRUN INC
|
—
|
Bond/Debt | 0.59% | 0.89% |
#41
13
Prev: #28
|
0.2 | -13,000,000 | -30.6% |
P
S
|
29,550,000 | $41,828,025 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
FRESHPET INC
|
—
|
Bond/Debt | 0.52% | 0.55% |
#42
1
Prev: #41
|
1.2 | no change | no change |
P
S
|
31,436,000 | $36,748,684 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
PLTR
PUT
PALANTIR TECHNO...
|
PUT Option | 0.50% | — |
#43
Prev: #—
|
3.7 | 200,000 | no change |
NEW
|
200,000 | $35,550,000 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
HERBALIFE LTD
|
—
|
Bond/Debt | 0.49% | 0.42% |
#44
2
Prev: #46
|
2.2 | 2,750,000 | 9.3% |
P
S
|
32,321,000 | $34,809,717 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
MARA
PUT
MARA HOLDINGS I...
|
PUT Option | 0.49% | 0.81% |
#45
15
Prev: #30
|
2.7 | 1,000,000 | 34.9% |
P
S
|
3,869,200 | $34,745,416 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
MARA HOLDINGS I...
|
—
|
Bond/Debt | 0.48% | 0.67% |
#46
9
Prev: #37
|
2.2 | 6,000,000 | 16.7% |
P
S
|
41,950,000 | $33,685,850 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
FOX
FOX CORP
|
Communication Services | 0.48% | 0.37% |
#47
7
Prev: #54
|
2.7 | 96,246 | 22.8% |
P
S
|
518,428 | $33,661,530 | 2013 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LUMN
PUT
LUMEN TECHNOLOG...
|
PUT Option | 0.47% | 0.41% |
#48
Prev: #48
|
1.2 | no change | no change |
P
S
|
4,300,000 | $33,411,000 | 2021 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CFLT
CONFLUENT INC
|
Technology | 0.45% | — |
#49
Prev: #—
|
3.7 | 1,054,747 | no change |
NEW
|
1,054,747 | $31,895,549 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
HEI/A
HEICO CORP NEW
|
Industrials | 0.45% | 0.48% |
#50
6
Prev: #44
|
0.7 | 1,938 | 1.6% |
P
S
|
124,737 | $31,487,361 | 2013 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 566 holdings