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WHITEBOX ADVISORS LLC

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MINNEAPOLIS MN Investment Advisor Hedge Fund Activist Investor
13F Summary
Whitebox Advisors is based out of Minneapolis. Whitebox Advisors is a hedge fund with 20 clients and discretionary assets under management (AUM) of $9,565,705,000 (Form ADV from 2024-05-15). Their last reported 13F filing for Q2 2024 included $3,496,727,259 in managed 13F securities and a top 10 holdings concentration of 47.05%. Whitebox Advisors's largest holding is SPDR S&P 500 ETF TRUST with shares held of 1,019,300. Whalewisdom has at least 98 13F filings, 73 13D filings, 321 13G filings, and 64 Form 4 filings
Investment Strategy
Whitebox employs various investment strategies to achieve its investment objectives. These strategies include convertible arbitrage, which involves an opportunistic approach to convertible investing, and credit, which focuses predominantly on distressed, restructuring, and event-driven credit trades. Additionally, the firm utilizes equity arbitrage, which employs a relative value approach to equity events, primarily in global markets, and credit arbitrage, which involves capital structure arbitrage with a credit focus. It's important to note that these strategies are subject to various risks, including market-related factors and other factors beyond the control of the advisor. These risks could potentially result in the loss of some or all of an investment.
Owners
  • CONRAD, LISA, RAGGI - GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER
  • LUTZ, BRIAN, GERALD - PARTNER, HEAD OF CONVERTIBLE ARBITRAGE
  • MERCER, JACOB, PAUL - PARTNER, HEAD OF SPECIAL SITUATIONS AND RESTRUCTURING
  • STUKAS, NICKOLAS, ARTHUR - PARTNER, HEAD OF CREDIT RELATIVE VALUE
  • KARIM, MUQUARRAB, BIN - CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER
  • SKAGDAY, INC. - MEMBER OF WHITEBOX ADVISORS LLC
  • VOGEL, ROBERT, JACOB - PARTNER, CHIEF INVESTMENT OFFICER
  • LOFTON, BRIAN, JOSEPH - CHIEF RISK OFFICER
  • WAXLEY, SIMON, ANDREW - PARTNER, HEAD OF EQUITY ARBITRAGE
  • ROOS, PAUL - PARTNER, HEAD OF STRUCTURED CREDIT
  • BLUE OWL GP STAKES II (A) LP - NON-VOTING MEMBER OF WHITEBOX ADVISORS LLC
  • BLUE OWL GP STAKES II (B) LP - NON-VOTING MEMBER OF WHITEBOX GENERAL PARTNER LLC
  • Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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2024-06-30

Top Buys (13F)

Name % Change
DEBT-BREA BREAD FINANCIAL HOLD (PRN) 1.62%
DEBT-INSM INSMED INC NOTE 0.75 (PRN) 1.56%
LBRDK Liberty Broadband Co 1.4%
DEBT-FRES FRESHPET INC NOTE 3. (PRN) 1.29%
DEBT-WAYF WAYFAIR INC NOTE 3.5 (PRN) 1.28%

2024-06-30

Top Sells (13F)

2024-06-30

13F Holdings Summary

Name $ Change
SPY SPDR S&P 500 ETF TRU(PUT) 15.86%
DEBT-ROYA ROYAL CARIBBEAN GROU(PRN) 6.58%
LBRDK Liberty Broadband Co 4.67%
DEBT-FRES FRESHPET INC NOTE 3.(PRN) 4.3%
DEBT-MICR MICROSTRATEGY INC NO(PRN) 3.5%

2024-06-30

13F Activity

Market Value $3.50b, Prior: $4.03b
Inflows (Outflows) as % of Total MV (-16.8081)%
New Purchases 48 stocks
Added To 49 stocks
Sold out of 39 stocks
Reduced holdings in 42 stocks
Top 10 Holdings % 47.05%
Turnover %[1] 22.42%
Turnover Alt %[2] 18.63%
Time Held Top 20 3.9 quarters
Time Held Top 10 2.6 quarters
Time Held All 6.32 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-06-30

13F Sector Allocation Over Time

limited to past 4 quarters. Subscribe to see all available data

2024-06-30

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30

Portfolio Performance