SEC 13F Intelligence

Managers / Q4 2024 · view latest →

WHITEBOX ADVISORS LLC

CIK 0001257391 · 3033 EXCELSIOR BLVD., SUITE 500, MINNEAPOLIS, MN, 55416 · 612-253-6001

Reported Value
$3.5B
Q4 2024
Positions
270
Filings on Record
30
2019–present window
Filed
Feb 14, 2025
original filing

Summary

Whitebox Advisors LLC reported $3.5B in U.S.-listed holdings across 270 positions for Q4 2024.

Its largest position, Microstrategy, represents 6.0% of the portfolio.

Compared with Q3 2024, the fund opened 62 new positions and exited 112.

Portfolio Metrics

Turnover
+25.5%
vs prior filed quarter
Top-10 Concentration
+30.3%
share of reported value
Largest Position
+6.0%
Microstrategy
New / Exited
62 / 112
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $2.2BQ4 ’18Q1 ’19: $3.3BQ2 ’19: $2.8BQ3 ’19: $2.8BQ4 ’19: $3.0BQ4 ’19Q1 ’20: $2.0BQ2 ’20: $1.8BQ3 ’20: $2.4BQ4 ’20: $3.2BQ4 ’20Q1 ’21: $3.1BQ2 ’21: $4.9BQ3 ’21: $4.8BQ4 ’21: $4.9BQ4 ’21Q1 ’22: $5.0BQ2 ’22: $3.2BQ3 ’22: $3.6BQ4 ’22: $3.6BQ4 ’22Q1 ’23: $2.9BQ2 ’23: $3.7BQ3 ’23: $3.2BQ4 ’23: $3.6BQ4 ’23Q1 ’24: $4.0BQ2 ’24: $3.5BQ3 ’24: $3.7BQ4 ’24: $3.5BQ4 ’24Q1 ’25: $3.9BQ2 ’25: $4.7BQ3 ’25: $6.5BQ4 ’25: $7.0BQ4 ’25Q1 ’26: $8.1Bfilingsflow.com

Portfolio Composition

By security type
US DOMESTIC: 57.8%Common Stock: 17.4%ETP: 15.3%Other: 4.1%GLOBAL: 2.4%Other: 2.9%
  • US DOMESTIC · 57.8% · $2.0B
  • Common Stock · 17.4% · $603M
  • ETP · 15.3% · $529M
  • Other · 4.1% · $142M
  • GLOBAL · 2.4% · $84M
  • Other · 2.9% · $102M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WESTERN DIGITAL CORPNEW+116.05M116.05M+$154M$154M
SPHERE ENTERTAINMENT CONEW+51.00M51.00M+$70M$70M
RIVIAN AUTOMOTIVE INCNEW+62.74M62.74M+$56M$56M
ECHOSTAR CORPNEW+43.33M43.33M+$46M$46M
BOEING CONEW+650.0K650.0K+$40M$40M
LUMENTUM HLDGS INCNEW+25.00M25.00M+$27M$27M
TYLER TEX INDPT SCH DISTNEW+18.52M18.52M+$22M$22M
EVERGY INCNEW+20.00M20.00M+$22M$22M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2024

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MICROSTRATEGY INCNOTE 2/16.00%$208M100.72M
2WESTERN DIGITAL CORPNOTE 3.000%11/14.44%$154M116.05M
3INSMED INCNOTE 0.750% 6/04.16%$144M66.58M
4FRESHPET INCNOTE 3.000% 4/03.52%$122M55.10M
5LUMENTUM HLDGS INCNOTE 1.500%12/1 · NOTE 0.500%12/12.38%$82M64.44M
6AMERICAN AIRLINES GROUP INCNOTE 6.500% 7/02.27%$79M67.49M
7SEA LTDNOTE 2.375%12/02.14%$74M58.59M
8SPHERE ENTERTAINMENT CONOTE 3.500%12/02.01%$70M51.00M
9BLOOM ENERGY CORPNOTE 3.000% 6/01.99%$69M49.86M
10LBRDKLIBERTY BROADBAND CORPhistory →COM SER C1.93%$67M894.7K
11WAYFAIR INCNOTE 3.500%11/1 · NOTE 0.625%10/01.84%$64M55.75M
12SEMTECH CORPNOTE 1.625%11/01.81%$63M35.50M
13CINEMARK HLDGS INCNOTE 4.500% 8/11.72%$60M27.48M
14RIVIAN AUTOMOTIVE INCNOTE 3.625%10/11.62%$56M62.74M
15ENCORE CAP GROUP INCNOTE 4.000% 3/11.55%$54M53.20M
16ON SEMICONDUCTOR CORPNOTE 5/01.38%$48M36.50M
17ECHOSTAR CORPNOTE 3.875%11/31.32%$46M43.33M
18ARRAY TECHNOLOGIES INCNOTE 1.000%12/01.29%$45M61.29M
19SUNNOVA ENERGY INTL INC.NOTE 0.250%12/01.24%$43M72.65M
200J7QIAC INChistory →COM NEW1.17%$41M939.3K
21BOEING CODEP CONV PFD A1.14%$40M650.0K
22COLLEGIUM PHARMACEUTICAL INCNOTE 2.875% 2/11.13%$39M37.45M
23NOVAVAX INCNOTE 5.000%12/11.00%$35M34.75M
24XOMETRY INCNOTE 1.000% 2/01.00%$35M32.81M
25TFPMTRIPLE FLAG PRECIOUS METALhistory →COM1.00%$35M2.30M
26COINBASE GLOBAL INCNOTE 0.500% 6/00.98%$34M32.42M
27CANADIAN SOLAR INCNOTE 2.500%10/00.95%$33M35.38M
28HEI/AHEICO CORP NEWhistory →CL A0.86%$30M160.0K
29GRFSGRIFOLS S Ahistory →SP ADR REP B NVT0.85%$29M3.95M
30HERBALIFE LTDNOTE 4.250% 6/10.82%$28M36.88M
31BLCOBAUSCH PLUS LOMB CORPhistory →COMMON SHARES0.75%$26M1.44M
32WOLFSPEED INCNOTE 1.875%12/00.73%$25M61.00M
33HCI GROUP INCNOTE 4.750% 6/00.72%$25M16.25M
34ZYNEX INCNOTE 5.000% 5/10.71%$25M25.00M
35ARTIVION INCNOTE 4.250% 7/00.71%$25M19.25M
36TYLER TEX INDPT SCH DISTNOTE 0.250% 3/10.64%$22M18.52M
37NABORS INDS INCNOTE 1.750% 6/10.64%$22M30.54M
38EVERGY INCNOTE 4.500%12/10.63%$22M20.00M
39CHRDCHORD ENERGY CORPORATIONhistory →COM NEW0.63%$22M185.3K
40GPORGULFPORT ENERGY CORPhistory →COMMON SHARES0.61%$21M115.6K
41VALARIS LTDCL A0.59%$20M459.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$8.1B568May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$7.0B492Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$6.5B427Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$4.7B382Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$3.9B312May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$3.5B270Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.7B321Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$3.5B349Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$4.0B340May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.6B332Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$3.2B385Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$3.7B438Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.9B569May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$3.6B771Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$3.6B949Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$3.2B913Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$5.0B941May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$4.9B819Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$4.8B645Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$4.9B538Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$3.1B381May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$3.2B149Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.4B95Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.8B72Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$2.0B79May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$3.0B89Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.8B97Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.8B98Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$3.3B89May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$2.2B96Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.