WHITEBOX ADVISORS LLC

Filed: 2/14/2023ACC: 0001257391-23-000002

📋 What this filing means

WHITEBOX ADVISORS LLC filed this quarterly 13F‑HR report disclosing 771 equity positions with a total reported market value of $3.62B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

771

Positions

$3.62B

Total AUM (reported)

2.02B

Total Shares

Allocation by class

PUT$935.64M25.9%

NOTE 0.750% 7/0$163.18M4.5%

COM$138.43M3.8%

NOTE 0.375% 6/0$127.24M3.5%

NOTE 4.500% 4/1$109.71M3.0%

NOTE 6.500% 7/0$109.59M3.0%

CL A$96.29M2.7%

Portfolio Concentration

Top 3$415.47M11.5%

4–10$687.50M19.0%

11–25$854.28M23.6%

Rest$1.66B45.9%

Top 3 weight

11.5%

Top 10 weight

30.5%

Voting Authority Distribution

Total shares with voting rights: 2.02B

Sole

Full voting authority

2.02B

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole771

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings771

Rows:

PALO ALTO NETWORKS INC

SOLE

NOTE 0.750% 7/0

Shares101.51M

TypePRN

Market value$160.39M

4.44%

Sole

101.51M

Shared

0.00

None

0.00

AMERICAN AIRLS GROUP INC

SOLE

PUT

Shares10.05M

TypeSH

Market value$127.84M

3.53%

Sole

10.05M

Shared

0.00

None

0.00

PALO ALTO NETWORKS INC

SOLE

NOTE 0.375% 6/0

Shares86.18M

TypePRN

Market value$127.24M

3.52%

Sole

86.18M

Shared

0.00

None

0.00

SPDR S&P 500 ETF TR

SOLE

PUT

Shares300K

TypeSH

Market value$114.73M

3.17%

Sole

300K

Shared

0.00

None

0.00

COPA HOLDINGS SA

SOLE

NOTE 4.500% 4/1

Shares64.50M

TypePRN

Market value$109.71M

3.03%

Sole

64.50M

Shared

0.00

None

0.00

AMERICAN AIRLINES GROUP INC

SOLE

NOTE 6.500% 7/0

Shares103.98M

TypePRN

Market value$109.59M

3.03%

Sole

103.98M

Shared

0.00

None

0.00

CATERPILLAR INC

SOLE

PUT

Shares400K

TypeSH

Market value$95.82M

2.65%

Sole

400K

Shared

0.00

None

0.00

SUNNOVA ENERGY INTL INC.

SOLE

NOTE 0.250%12/0

Shares111.40M

TypePRN

Market value$86.17M

2.38%

Sole

111.40M

Shared

0.00

None

0.00

DEERE & CO

SOLE

PUT

Shares200K

TypeSH

Market value$85.75M

2.37%

Sole

200K

Shared

0.00

None

0.00

HONEYWELL INTL INC

SOLE

PUT

Shares400K

TypeSH

Market value$85.72M

2.37%

Sole

400K

Shared

0.00

None

0.00

WOLFSPEED INC

SOLE

NOTE 1.750% 5/0

Shares49.21M

TypePRN

Market value$79.05M

2.19%

Sole

49.21M

Shared

0.00

None

0.00

ZILLOW GROUP INC

SOLE

NOTE 1.375% 9/0

Shares76.29M

TypePRN

Market value$76.86M

2.13%

Sole

76.29M

Shared

0.00

None

0.00

LIBERTY BROADBAND CORP

SOLE

COM SER C

Shares998.09K

TypeSH

Market value$76.12M

2.10%

Sole

998.09K

Shared

0.00

None

0.00

ROYAL CARIBBEAN GROUP

SOLE

PUT

Shares1.40M

TypeSH

Market value$69.20M

1.91%

Sole

1.40M

Shared

0.00

None

0.00

WIX COM LTD

SOLE

NOTE 7/0

Shares67.04M

TypePRN

Market value$65.12M

1.80%

Sole

67.04M

Shared

0.00

None

0.00

DISH NETWORK CORPORATION

SOLE

NOTE 12/1

Shares92.50M

TypePRN

Market value$59.02M

1.63%

Sole

92.50M

Shared

0.00

None

0.00

VALARIS LIMITED

SOLE

CL A

Shares836K

TypeSH

Market value$56.53M

1.56%

Sole

836K

Shared

0.00

None

0.00

ENCORE CAP EUROPE FIN LTD

SOLE

NOTE 4.500% 9/0

Shares47.90M

TypePRN

Market value$56.47M

1.56%

Sole

47.90M

Shared

0.00

None

0.00

GULFPORT ENERGY CORP

SOLE

COMMON SHARES

Shares709.09K

TypeSH

Market value$52.22M

1.44%

Sole

709.09K

Shared

0.00

None

0.00

VANECK ETF TRUST

SOLE

PUT

Shares250K

TypeSH

Market value$50.73M

1.40%

Sole

250K

Shared

0.00

None

0.00

ZSCALER INC

SOLE

NOTE 0.125% 7/0

Shares42.82M

TypePRN

Market value$44.96M

1.24%

Sole

42.82M

Shared

0.00

None

0.00

WILLIS TOWERS WATSON PLC LTD

SOLE

SHS

Shares179.95K

TypeSH

Market value$44.01M

1.22%

Sole

179.95K

Shared

0.00

None

0.00

ARRAY TECHNOLOGIES INC

SOLE

NOTE 1.000%12/0

Shares43.15M

TypePRN

Market value$43.86M

1.21%

Sole

43.15M

Shared

0.00

None

0.00

TRIPLE FLAG PRECIOUS METAL

SOLE

COM

Shares2.96M

TypeSH

Market value$40.77M

1.13%

Sole

2.96M

Shared

0.00

None

0.00

NOVAVAX INC

SOLE

NOTE 3.750% 2/0

Shares39.66M

TypePRN

Market value$39.34M

1.09%

Sole

39.66M

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
PALO ALTO NETWORKS INCSOLE	NOTE 0.750% 7/0	101.51M	PRN	$160.39M 4.44%	101.51M
AMERICAN AIRLS GROUP INCSOLE	PUT	10.05M	SH	$127.84M 3.53%	10.05M
PALO ALTO NETWORKS INCSOLE	NOTE 0.375% 6/0	86.18M	PRN	$127.24M 3.52%	86.18M
SPDR S&P 500 ETF TRSOLE	PUT	300K	SH	$114.73M 3.17%	300K
COPA HOLDINGS SASOLE	NOTE 4.500% 4/1	64.50M	PRN	$109.71M 3.03%	64.50M
AMERICAN AIRLINES GROUP INCSOLE	NOTE 6.500% 7/0	103.98M	PRN	$109.59M 3.03%	103.98M
CATERPILLAR INCSOLE	PUT	400K	SH	$95.82M 2.65%	400K
SUNNOVA ENERGY INTL INC.SOLE	NOTE 0.250%12/0	111.40M	PRN	$86.17M 2.38%	111.40M
DEERE & COSOLE	PUT	200K	SH	$85.75M 2.37%	200K
HONEYWELL INTL INCSOLE	PUT	400K	SH	$85.72M 2.37%	400K
WOLFSPEED INCSOLE	NOTE 1.750% 5/0	49.21M	PRN	$79.05M 2.19%	49.21M
ZILLOW GROUP INCSOLE	NOTE 1.375% 9/0	76.29M	PRN	$76.86M 2.13%	76.29M
LIBERTY BROADBAND CORPSOLE	COM SER C	998.09K	SH	$76.12M 2.10%	998.09K
ROYAL CARIBBEAN GROUPSOLE	PUT	1.40M	SH	$69.20M 1.91%	1.40M
WIX COM LTDSOLE	NOTE 7/0	67.04M	PRN	$65.12M 1.80%	67.04M
DISH NETWORK CORPORATIONSOLE	NOTE 12/1	92.50M	PRN	$59.02M 1.63%	92.50M
VALARIS LIMITEDSOLE	CL A	836K	SH	$56.53M 1.56%	836K
ENCORE CAP EUROPE FIN LTDSOLE	NOTE 4.500% 9/0	47.90M	PRN	$56.47M 1.56%	47.90M
GULFPORT ENERGY CORPSOLE	COMMON SHARES	709.09K	SH	$52.22M 1.44%	709.09K
VANECK ETF TRUSTSOLE	PUT	250K	SH	$50.73M 1.40%	250K
ZSCALER INCSOLE	NOTE 0.125% 7/0	42.82M	PRN	$44.96M 1.24%	42.82M
WILLIS TOWERS WATSON PLC LTDSOLE	SHS	179.95K	SH	$44.01M 1.22%	179.95K
ARRAY TECHNOLOGIES INCSOLE	NOTE 1.000%12/0	43.15M	PRN	$43.86M 1.21%	43.15M
TRIPLE FLAG PRECIOUS METALSOLE	COM	2.96M	SH	$40.77M 1.13%	2.96M
NOVAVAX INCSOLE	NOTE 3.750% 2/0	39.66M	PRN	$39.34M 1.09%	39.66M

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