WHITEBOX ADVISORS LLC Q3 2025 Filing
Filed November 14, 2025
Portfolio Value
$6.5T
Holdings
422
Report Date
Q3 2025
Filing Type
13F-HR
All Holdings (422 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | WDC 3 11/15/28WESTERN DIGITAL CORP | 204,400,000 | $655.6B | 10.14% | |
| 2 | SPYSPDR S&P 500 ETF TR | 650,000 | $433.0B | 6.70% | Put |
| 3 | BE 3 06/01/29BLOOM ENERGY CORP | 99,776,000 | $413.5B | 6.40% | |
| 4 | BE 3 06/01/28BLOOM ENERGY CORP | 64,362,000 | $292.0B | 4.52% | |
| 5 | SNOW 0 10/01/27SNOWFLAKE INC | 130,950,000 | $198.8B | 3.08% | |
| 6 | MSTR 2.25 06/15/32STRATEGY INC | 111,500,000 | $198.6B | 3.07% | |
| 7 | VRNAVERONA PHARMA PLC | 1,566,501 | $167.2B | 2.59% | |
| 8 | LITE 1.5 12/15/29LUMENTUM HLDGS INC | 66,442,000 | $160.4B | 2.48% | |
| 9 | COIN 0.25 04/01/30COINBASE GLOBAL INC | 111,770,000 | $140.3B | 2.17% | |
| 10 | TCOM 0.75 06/15/29TRIP COM GROUP LTD | 106,000,000 | $135.1B | 2.09% | |
| 11 | SNOW 0 10/01/29SNOWFLAKE INC | 84,207,000 | $131.8B | 2.04% | |
| 12 | IBITISHARES BITCOIN TRUST ETF | 2,000,000 | $130.0B | 2.01% | Put |
| 13 | BABA 0.5 06/01/31ALIBABA GROUP HLDG LTD | 70,728,000 | $129.9B | 2.01% | |
| 14 | SPHR 3.5 12/01/28SPHERE ENTERTAINMENT CO | 66,618,000 | $125.9B | 1.95% | |
| 15 | IWMISHARES TR | 500,000 | $121.0B | 1.87% | Put |
| 16 | SATS 3.875 11/30/30ECHOSTAR CORP | 42,202,086 | $103.8B | 1.61% | |
| 17 | AAPLAPPLE INC | 400,000 | $101.9B | 1.58% | Put |
| 18 | JBLU 2.5 09/01/29JETBLUE AIRWAYS CORP | 94,300,000 | $97.4B | 1.51% | |
| 19 | LBRDKLIBERTY BROADBAND CORP | 1,451,280 | $92.2B | 1.43% | |
| 20 | MSTR 0.625 09/15/28STRATEGY INC | 37,000,000 | $69.8B | 1.08% | |
| 21 | CYBRCYBERARK SOFTWARE LTD | 138,001 | $66.7B | 1.03% | |
| 22 | 07WAMR COOPER GROUP INC | 315,155 | $66.4B | 1.03% | |
| 23 | GTLSCHART INDS INC | 317,606 | $63.6B | 0.98% | |
| 24 | —WNS HLDGS LTD | 779,591 | $59.5B | 0.92% | |
| 25 | WWAYFAIR INC | 28,550,000 | $59.2B | 0.92% | |
| 26 | OIHVANECK ETF TRUST | 227,700 | $59.2B | 0.92% | Put |
| 27 | SMCISUPER MICRO COMPUTER INC | 1,200,000 | $57.5B | 0.89% | Put |
| 28 | RUN 4 03/01/30SUNRUN INC | 42,550,000 | $57.2B | 0.89% | |
| 29 | TFPMTRIPLE FLAG PRECIOUS METAL | 1,798,962 | $52.6B | 0.81% | |
| 30 | MARAMARA HOLDINGS INC | 2,869,200 | $52.4B | 0.81% | Put |
| 31 | RIVN 3.625 10/15/30RIVIAN AUTOMOTIVE INC | 56,737,000 | $52.1B | 0.81% | |
| 32 | GPORGULFPORT ENERGY CORP | 274,627 | $49.7B | 0.77% | |
| 33 | ECPG 4 03/15/29ENCORE CAP GROUP INC | 50,012,000 | $49.4B | 0.76% | |
| 34 | SMTC 1.625 11/01/27SEMTECH CORP | 24,000,000 | $47.2B | 0.73% | |
| 35 | KELKELLANOVA | 547,201 | $44.9B | 0.69% | Put |
| 36 | TSLATESLA INC | 100,000 | $44.5B | 0.69% | Put |
| 37 | LITE 0.5 12/15/26LUMENTUM HLDGS INC | 25,800,000 | $43.4B | 0.67% | |
| 38 | MARA 2.125 09/01/31MARA HOLDINGS INC | 35,950,000 | $43.4B | 0.67% | |
| 39 | COLL 2.875 02/15/29COLLEGIUM PHARMACEUTICAL INC | 36,200,000 | $42.7B | 0.66% | |
| 40 | SEALTD 2.375 12/01/25SEA LTD | 20,095,000 | $39.7B | 0.61% | |
| 41 | NVDANVIDIA CORPORATION | 200,000 | $37.3B | 0.58% | Put |
| 42 | FRPT 3 04/01/28FRESHPET INC | 31,436,000 | $35.3B | 0.55% | |
| 43 | COIN 0.5 06/01/26COINBASE GLOBAL INC | 28,771,000 | $31.9B | 0.49% | |
| 44 | WT 3.25 08/15/29WISDOMTREE INC | 23,950,000 | $31.3B | 0.48% | |
| 45 | HEIHEICO CORP NEW | 122,799 | $31.2B | 0.48% | |
| 46 | TYL 0.25 03/15/26TYLER TEX INDPT SCH DIST | 25,859,000 | $28.4B | 0.44% | |
| 47 | HLF 4.25 06/15/28HERBALIFE LTD | 29,571,000 | $27.3B | 0.42% | |
| 48 | XOPSPDR SERIES TRUST | 200,000 | $26.4B | 0.41% | Put |
| 49 | LUMNLUMEN TECHNOLOGIES INC | 4,300,000 | $26.3B | 0.41% | Put |
| 50 | GRFSGRIFOLS S A | 2,621,468 | $26.1B | 0.40% | |
| 51 | KKRKKR & CO INC | 200,000 | $26.0B | 0.40% | Put |
| 52 | DCHAMERICAN AXLE & MFG HLDGS IN | 4,221,891 | $25.4B | 0.39% | |
| 53 | PTCT 1.5 09/15/26PTC THERAPEUTICS INC | 19,000,000 | $24.4B | 0.38% | |
| 54 | FOXFOX CORP | 422,182 | $24.2B | 0.37% | |
| 55 | PNW 4.75 06/15/27PINNACLE WEST CAP CORP | 21,250,000 | $22.8B | 0.35% | |
| 56 | NBR 1.75 06/15/29NABORS INDS INC | 29,894,000 | $22.7B | 0.35% | |
| 57 | INFA1EURINFORMATICA INC | 912,963 | $22.7B | 0.35% | |
| 58 | AMCXAMC NETWORKS INC | 23,730,000 | $22.6B | 0.35% | |
| 59 | LBRDALIBERTY BROADBAND CORP | 348,076 | $22.0B | 0.34% | |
| 60 | ON 0 05/01/27ON SEMICONDUCTOR CORP | 19,000,000 | $21.6B | 0.33% | |
| 61 | RIVNRIVIAN AUTOMOTIVE INC | 1,456,300 | $21.4B | 0.33% | Put |
| 62 | XRX 3.75 03/15/30XEROX HOLDINGS CORP | 44,600,000 | $21.0B | 0.32% | |
| 63 | MSTR 0.875 03/15/31STRATEGY INC | 13,096,000 | $20.5B | 0.32% | |
| 64 | WEC 4.375 06/01/27WEC ENERGY GROUP INC | 16,800,000 | $20.1B | 0.31% | |
| 65 | SO 4.5 06/15/27SOUTHERN CO | 18,000,000 | $20.0B | 0.31% | |
| 66 | NEENEXTERA ENERGY CAP HLDGS INC | 15,242,000 | $18.0B | 0.28% | |
| 67 | CHRDCHORD ENERGY CORPORATION | 174,476 | $17.3B | 0.27% | |
| 68 | RUNSUNRUN INC | 962,500 | $16.6B | 0.26% | Put |
| 69 | PCT 7.25 08/15/30PURECYCLE TECHNOLOGIES INC | 13,606,000 | $16.2B | 0.25% | |
| 70 | SRPTSAREPTA THERAPEUTICS INC | 810,800 | $15.6B | 0.24% | Put |
| 71 | EVH 4.5 08/15/31EVOLENT HEALTH INC | 15,500,000 | $15.5B | 0.24% | |
| 72 | MTSI 0.25 03/15/26MACOM TECH SOLUTIONS HLDGS I | 10,200,000 | $15.5B | 0.24% | |
| 73 | NIO 4.625 10/15/30NIO INC | 14,000,000 | $14.6B | 0.23% | |
| 74 | ZYXI 5 05/15/26ZYNEX INC | 25,000,000 | $14.1B | 0.22% | |
| 75 | OMER 9.5 06/15/29OMEROS CORP | 16,273,000 | $13.7B | 0.21% | |
| 76 | RKTROCKET COS INC | 700,000 | $13.6B | 0.21% | Put |
| 77 | CIVICIVITAS RESOURCES INC | 400,000 | $13.0B | 0.20% | |
| 78 | HPOSERVICE PPTYS TR | 4,746,236 | $12.9B | 0.20% | Call |
| 79 | 0J7QIAC INC | 375,808 | $12.8B | 0.20% | |
| 80 | GLIBKGCI LIBERTY INC | 342,215 | $12.8B | 0.20% | |
| 81 | VALVALARIS LTD | 253,925 | $12.4B | 0.19% | |
| 82 | BLCOBAUSCH PLUS LOMB CORP | 807,125 | $12.2B | 0.19% | |
| 83 | HTZHERTZ GLOBAL HLDGS INC | 1,669,700 | $11.4B | 0.18% | Put |
| 84 | UAAUNDER ARMOUR INC | 2,251,897 | $11.2B | 0.17% | |
| 85 | CSTMCONSTELLIUM SE | 661,260 | $9.8B | 0.15% | |
| 86 | TWO 6.25 01/15/26TWO HARBORS INVENTMENT CORPO | 9,279,000 | $9.3B | 0.14% | |
| 87 | WOLFWOLFSPEED INC | 4,724,348 | $9.1B | 0.14% | Put |
| 88 | MPTMEDICAL PPTYS TRUST INC | 1,776,000 | $9.0B | 0.14% | Put |
| 89 | NWSANEWS CORP NEW | 280,440 | $8.6B | 0.13% | |
| 90 | HTZ 8 07/15/29HERTZ CORP | 6,399,997 | $8.5B | 0.13% | |
| 91 | VNMEVENDOME ACQUISITION CORP I | 825,000 | $8.2B | 0.13% | |
| 92 | HLFHERBALIFE LTD | 970,000 | $8.2B | 0.13% | Put |
| 93 | TACHTITAN ACQUISITION CORP | 800,000 | $8.1B | 0.13% | |
| 94 | AMCAMC ENTMT HLDGS INC | 2,778,400 | $8.1B | 0.12% | Put |
| 95 | OTLY 9.25 09/14/28OATLY GROUP AB | 9,024,806 | $8.0B | 0.12% | |
| 96 | GIGGIGCAPITAL7 CORP | 760,000 | $8.0B | 0.12% | |
| 97 | PDD 0 12/01/25PDD HOLDINGS INC | 8,000,000 | $7.9B | 0.12% | |
| 98 | CYHCOMMUNITY HEALTH SYS INC NEW | 2,385,086 | $7.7B | 0.12% | |
| 99 | FERAFIFTH ERA ACQUISITION CORP I | 750,000 | $7.6B | 0.12% | |
| 100 | XRXXEROX HOLDINGS CORP | 2,000,000 | $7.5B | 0.12% | Put |
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