WHITEBOX ADVISORS LLC

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CIK 1257391

13F portfolio (2026-Q1)

$1.8B

Positions

493

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

493

Top 5

32.0%

Top 10

45.8%

Effective N

33.7

HHI

0.030

This quarter

166 new · 0 exit →

By sector

Unclassified43.1%

Industrials11.3%

Health Care10.9%

Financials10.6%

Communication Services9.9%

Energy8.2%

Consumer Discretionary1.8%

Information Technology1.8%

Other2.3%

By market cap

Unknown44.4%

Large ($10–200B)31.5%

Mid ($2–10B)21.1%

Small ($300M–2B)2.3%

Micro (<$300M)0.7%

By region

North America56.9%

Other43.1%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	43.08%	432
Health Care Equipment & Supplies	9.24%	3
Media & Entertainment	8.94%	8
Machinery	8.84%	1
Oil, Gas & Consumable Fuels	8.21%	5
Banks	7.53%	1
Capital Markets	2.97%	1
Marine	1.89%	1
Communications Equipment	1.22%	1
Pharmaceuticals & Biotechnology	1.11%	3
Entertainment	0.90%	2
Automobiles & Components	0.77%	1
Hotels, Restaurants & Leisure	0.60%	3
Software & IT Services	0.59%	2
Health Care Providers & Services	0.56%	2
Commercial Services & Supplies	0.55%	6
Metals & Mining	0.49%	2
Textiles, Apparel & Luxury Goods	0.40%	1
Chemicals	0.38%	3
Real Estate Management & Development	0.35%	3
Food & Staples Retailing	0.31%	1
Equity Real Estate Investment Trusts (REITs)	0.29%	1
Construction Materials	0.27%	1
Utilities	0.15%	2
Insurance	0.10%	1
Media & Publishing	0.10%	1
Paper & Forest Products	0.08%	1
Household Durables	0.05%	1
Specialty Retail	0.03%	1
Food Products	0.01%	1
Diversified Telecommunication Services	0.01%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	GTLS	CHART INDUSTRIES INC	Industrials	8.84%
2	PEN	Penumbra Inc	Health Care	8.23%
3	WBS	WEBSTER FINANCIAL CORP	Financials	7.53%
4	LBRDK	Liberty Broadband Corp	Communication Services	4.19%
5	VAL	Valaris Ltd	Energy	3.23%
6		TERNS PHARMACEUTICALS INC	Unclassified	2.97%
7	TFPM	Triple Flag Precious Metals Corp.	Financials	2.97%
8	MASI	MASIMO CORP	Unclassified	2.71%
9	GPOR	GULFPORT ENERGY CORP	Energy	2.62%
10	WBD	Warner Bros. Discovery, Inc.	Communication Services	2.50%

61/493 names classified · sector 56.9% of weight · industry 56.9% · mkt cap 55.6%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 52 quarters

EnergyPARR, MPC, VAL, GPOR, AESI · other

Communication ServicesLBRDK, LBRDA, T, SIRI, TMUS · other

Health CareGRFS, BLCO, BAX, BHC, PEN · other

FinancialsTFPM, WTW, HUM, WBS, ITUB · other

Information TechnologyPPLI, DELL, NXPI, HPE, AAPL · other

IndustrialsGTLS, RYAAY, CCL, AAL, ADT · other

Consumer DiscretionaryDCH, GM, GTX, HLF, CNNE · other

MaterialsCSTM, GT, NEM, OI, DECK · other

Real EstateBN, RITM, SVC, BXMT, PEB · other

Consumer StaplesACI, PEP, BYND, UCFI, GIS · other

UtilitiesAQN, XIFR, NRG, D, CWEN · other

UnclassifiedALTABA INC, YAHOO INC, IAC/Interactive Corp, HYCROFT MINING HOLDING CORP, GENERAL MTRS CO WT EXP 071016 · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 56.9% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 43% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (36 classified)WHITEBOX ADVISORS LLC centroid (Small Core)

IndustrialsHealth CareEnergyFinancialsCommunication ServicesInformation TechnologyMaterialsConsumer DiscretionaryConsumer StaplesUtilities

Style box summary for WHITEBOX ADVISORS LLC: centroid Small Core. Heaviest cells: Small Growth 28.3%, Small Core 4.3%, Mid Core 4.3%.

Classified: 42.6% of book weight (36/483 names) · unclassified 57.4%: , LBRDK, TFPM, MASI, HEI.A, BLCO, LBRDA, GRFS, LLYVK, DCH +437 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 493 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	GTLSCHART INDS INC	758,887	$157M	8.8%	ADD 36%
2	PENPENUMBRA INC	445,001	$146M	8.2%	NEW
3	WBSWEBSTER FINL CORP CONN	1,925,001	$134M	7.5%	NEW
4	LBRDKLIBERTY BROADBAND CORP	1,477,741	$74M	4.2%	HOLD
5	VALVALARIS LTD	583,937	$57M	3.2%	NEW
6	TERNS PHARMACEUTICALS INC	1,000,001	$53M	3.0%	NEW
7	TFPMTRIPLE FLAG PRECIOUS METAL	1,518,950	$53M	3.0%	HOLD
8	MASIMASIMO CORP	270,001	$48M	2.7%	NEW
9	GPORGULFPORT ENERGY CORP	219,627	$46M	2.6%	TRIM −2%
10	WBDWARNER BROS DISCOVERY INC	1,615,001	$44M	2.5%	ADD 304%
11	ORACLE CORP	900,000	$41M	2.3%	NEW
12	CCLCARNIVAL PLC	1,300,036	$34M	1.9%	NEW
13	HEI.AHEICO CORP NEW	124,737	$26M	1.5%	HOLD
14	CHRDCHORD ENERGY CORPORATION	159,476	$23M	1.3%	TRIM −9%
15	LITELUMENTUM HLDGS INC	30,773	$22M	1.2%	NEW
16	SMSM ENERGY CO	602,301	$19M	1.1%	NEW
17	BLCOBAUSCH PLUS LOMB CORP	1,101,854	$18M	1.0%	ADD 16%
18	LBRDALIBERTY BROADBAND CORP	348,076	$17M	1.0%	HOLD
19	GRFSGRIFOLS S A	2,067,798	$17M	0.9%	TRIM −21%
20	LLYVKLIBERTY LIVE HOLDINGS INC	161,429	$15M	0.9%	NEW
21	DCHAMERICAN AXLE & MFG HLDGS IN	2,293,053	$14M	0.8%	TRIM −29%
22	FOXFOX CORP	175,248	$9M	0.5%	TRIM −66%
23	CYHCOMMUNITY HEALTH SYS INC NEW	3,127,884	$9M	0.5%	ADD 42%
24	PPLIIAC INC	217,383	$9M	0.5%	ADD 72%
25	CSTMCONSTELLIUM SE	346,660	$9M	0.5%	TRIM −31%
26	VNMEVENDOME ACQUISITION CORP I	825,000	$8M	0.5%	HOLD
27	TACHTITAN ACQUISITION CORP	800,000	$8M	0.5%	HOLD
28	GIWGIGCAPITAL8 CORP	800,000	$8M	0.4%	HOLD
29	IACOUIDEA ACQUISITION CORP	797,378	$8M	0.4%	NEW
30	FERAFIFTH ERA ACQUISITION CORP I	750,000	$8M	0.4%	HOLD
31	HAVAHARVARD AVE ACQUISITION CORP	750,000	$8M	0.4%	NEW
32	UAAUNDER ARMOUR INC	1,186,792	$7M	0.4%	TRIM −9%
33	PONOUPONO CAP FOUR INC	700,000	$7M	0.4%	NEW
34	MGMMGM RESORTS INTERNATIONAL	186,869	$7M	0.4%	TRIM −35%
35	XCBEX3 ACQUISITION CORP LTD	700,000	$7M	0.4%	NEW
36	SZZLSIZZLE ACQUISITION CORP. II	650,000	$7M	0.4%	HOLD
37	SOULSOULPOWER ACQUISITION CORP	650,000	$7M	0.4%	HOLD
38	BCARD. BORAL ARC ACQ I CORP.	650,000	$7M	0.4%	HOLD
39	WENNWEN ACQUISITION CORP	600,000	$6M	0.3%	HOLD
40	HDRNGIGCAPITAL7 CORP	550,000	$6M	0.3%	HOLD
41	GTGOODYEAR TIRE & RUBR CO	871,089	$6M	0.3%	ADD 18%
42	FACCARTESIAN GROWTH CORP III	550,000	$6M	0.3%	HOLD
43	ACIALBERTSONS COS INC	326,582	$6M	0.3%	TRIM −5%
44	BEPBROOKFIELD RENEWABLE PARTNER	170,000	$6M	0.3%	HOLD
45	AACIUARMADA ACQUISITION CORP III	550,000	$5M	0.3%	NEW
46	SIMASIM ACQUISITION CORP. I	500,000	$5M	0.3%	HOLD
47	REAL ASSET ACQUISITION CORP	500,000	$5M	0.3%	HOLD
48	NPACNEW PROVIDENCE ACQUISITION C	500,000	$5M	0.3%	HOLD
49	SVCSERVICE PPTYS TR	3,772,799	$5M	0.3%	TRIM −7%
50	YCYAA MISSION ACQUISITION CORP	500,000	$5M	0.3%	HOLD
51	RNGTRANGE CAP ACQUISITION CORP I	500,000	$5M	0.3%	HOLD
52	DBCAD BORAL ACQUISITION I CORP	500,000	$5M	0.3%	NEW
53	ELBMELECTRA BATTERY MATERIALS CO	8,200,099	$5M	0.3%	TRIM −4%
54	CCOCLEAR CHANNEL OUTDOOR HLDGS	2,003,835	$5M	0.3%	TRIM −19%
55	CEPFCANTOR EQUITY PARTNERS IV IN	450,000	$5M	0.3%	HOLD
56	HACQUHCM IV ACQUISITION CORP	450,000	$5M	0.3%	NEW
57	ACAAUAVERIN CAP ACQUISITION CORP	450,000	$5M	0.3%	NEW
58	DMIIDRUGS MADE IN AMER ACQ II CO	450,000	$4M	0.3%	HOLD
59	ILLUUILLUMINATION ACQUISITION CORP I	450,000	$4M	0.3%	NEW
60	BEBETGE VALUE CREATIVE SOLUTIONS	450,000	$4M	0.3%	NEW
61	ALDFALDEL FINL II INC	400,000	$4M	0.2%	HOLD
62	BEAGBOLD EAGLE ACQUISITION CORP	400,000	$4M	0.2%	HOLD
63	CHARCHARLTON ARIA ACQUISITION CO	399,000	$4M	0.2%	HOLD
64	DMAADRUGS MADE IN AMER ACQUTN CO	400,000	$4M	0.2%	HOLD
65	DRDBROMAN DBDR ACQUISITION CORP	400,000	$4M	0.2%	HOLD
66	SVCCSTELLAR V CAP CORP	400,000	$4M	0.2%	HOLD
67	RACRITHM ACQUISITION CORP	400,000	$4M	0.2%	HOLD
68	CCAQDUNE ACQUISITION CORP II	400,000	$4M	0.2%	HOLD
69	DAAQDIGITAL ASSET ACQUISITION CO	400,000	$4M	0.2%	HOLD
70	LKSPLAKE SUPERIOR ACQUISITION CO	405,103	$4M	0.2%	HOLD
71	NOEMCO2 ENERGY TRANSITION CORP	390,000	$4M	0.2%	HOLD
72	EVACEQV VENTURES AC CORP. II	400,000	$4M	0.2%	HOLD
73	EMISEMMIS ACQUISITION CORP.	400,000	$4M	0.2%	HOLD
74	KCAC.UKENSINGTON CAP ACQUIST CORP	400,000	$4M	0.2%	NEW
75	MMTXMILUNA ACQUISITION CORP	400,000	$4M	0.2%	NEW
76	CMIIUCOLUMBUS CIRCLE CAP CORP II	400,000	$4M	0.2%	NEW
77	FGIIUFG IMPERII ACQUISITION CORP	400,000	$4M	0.2%	NEW
78	CAQUUCAMBRIDGE ACQUISITION CORP	400,000	$4M	0.2%	NEW
79	PTORUPRAETORIAN ACQUISITION CORP	400,000	$4M	0.2%	NEW
80	SORNSOREN ACQUISITION CORP	400,000	$4M	0.2%	NEW
81	NTWONEWBURY STR II ACQUISITION C	375,000	$4M	0.2%	HOLD
82	MLAAMOUNTAIN LAKE ACQUISIT CORP	400,000	$4M	0.2%	NEW
83	ALOVALDABRA 4 LQDTY OPP VEH INC	400,000	$4M	0.2%	NEW
84	BNBROOKFIELD CORP	96,265	$4M	0.2%	NEW
85	RFAMURF ACQUISITION CORP III	387,000	$4M	0.2%	NEW
86	XSLLUXSOLLA SPAC 1	385,000	$4M	0.2%	NEW
87	NCMINATIONAL CINEMEDIA INC	1,242,084	$4M	0.2%	HOLD
88	LPBBLAUNCH TWO ACQUISITION CORP.	350,000	$4M	0.2%	HOLD
89	IRABIRIS ACQUISITION CORP II	375,200	$4M	0.2%	NEW
90	SIRISIRIUSXM HOLDINGS INC	153,943	$4M	0.2%	TRIM −10%
91	OTGAOTG ACQUISITION CORP. I	350,000	$4M	0.2%	HOLD
92	TRAD.UAPEX TECH ACQUISITION INC	350,000	$4M	0.2%	NEW
93	FMACUFUTURE MONEY ACQUISITION COR	350,000	$3M	0.2%	NEW
94	BWIV.UBLUE WTR ACQUISITION CORP IV	350,000	$3M	0.2%	NEW
95	IRHOIRON HORSE ACQUISIT II CORP	350,000	$3M	0.2%	NEW
96	ZKPLAFAYETTE DIGITAL ACQUISITIO	350,000	$3M	0.2%	NEW
97	TDACTRANSLATIONAL DEV ACQUISITIO	305,000	$3M	0.2%	HOLD
98	EWZISHARES INC MSCI BRAZIL ETF	83,755	$3M	0.2%	ADD 299%
99	TAVITAVIA ACQUISITION CORP	300,000	$3M	0.2%	HOLD
100	MOUNTAIN LAKE ACQUISITION CO	300,000	$3M	0.2%	HOLD
101	GSHRGESHER ACQUISITION CORP. II	300,000	$3M	0.2%	HOLD
102	COPLCOPLEY ACQUISITION CORP	300,000	$3M	0.2%	HOLD
103	RDAGREPUBLIC DIGITAL ACQUISITION	300,000	$3M	0.2%	HOLD
104	IPCXINFLECTION PT ACQUISITION CO	300,000	$3M	0.2%	HOLD
105	TLNCTALON CAP CORP	300,000	$3M	0.2%	HOLD
106	BHCBAUSCH HEALTH COS INC	564,672	$3M	0.2%	ADD 4%
107	PAIIPYROPHYTE ACQUISITION CORP.	300,000	$3M	0.2%	HOLD
108	PACHPIONEER ACQUISITION I CORP	300,000	$3M	0.2%	HOLD
109	CLBRCOLOMBIER ACQUISITION CORP I	300,000	$3M	0.2%	NEW
110	PAACUPROEM ACQUISITION CORP I	300,000	$3M	0.2%	NEW
111	CTAAUCLEARTHINK 1 ACQUISITION COR	300,000	$3M	0.2%	NEW
112	PALOUPALOMA ACQUISITION CORP I	300,000	$3M	0.2%	NEW
113	CZRCAESARS ENTERTAINMENT INC NE	113,165	$3M	0.2%	ADD 9%
114	EVOXEVOLUTION GLOBAL ACQUISITION	300,000	$3M	0.2%	NEW
115	AACOUABONY ACQUISITION CORP I	300,000	$3M	0.2%	NEW
116	APXTAPEX TREAS CORP	300,000	$3M	0.2%	HOLD
117	GPACGENERAL PURP ACQUISITION COR	300,000	$3M	0.2%	NEW
118	LEGOLEGATO MERGER CORP IV	300,000	$3M	0.2%	NEW
119	ADACAMERICAN DRIVE ACQUISITION C	300,000	$3M	0.2%	NEW
120	LPCVLAUNCHPAD CADENZA ACQU CORP	300,000	$3M	0.2%	NEW
121	VHCPVINE HILL CAP INVTS CORP II	300,000	$3M	0.2%	NEW
122	AEAQACTIVATE ENERGY ACQUISIT COR	300,000	$3M	0.2%	NEW
123	MESHMESHFLOW ACQUISITION CORP	300,000	$3M	0.2%	NEW
124	SVAQSILICON VY ACQUISITION CORP	300,000	$3M	0.2%	NEW
125	WPACWHITE PEARL ACQUISITION CORP	300,000	$3M	0.2%	NEW
126	CHECCHENGHE ACQUISITION III CO	275,000	$3M	0.2%	HOLD
127	NBRGNEWBRIDGE ACQUISITION LTD	280,000	$3M	0.2%	NEW
128	COLOGLOBAL X FDS	69,042	$3M	0.2%	ADD 6%
129	BIIIBLACK SPADE ACQUISITION III	276,200	$3M	0.2%	NEW
130	GRAFGRAF GLOBAL CORP	250,000	$3M	0.2%	HOLD
131	LPAALAUNCH ONE ACQUISITION CORP	250,000	$3M	0.2%	HOLD
132	PNIPIMCO NEW YORK MUN FD II	387,958	$3M	0.1%	NEW
133	OACCOAKTREE ACQUISITION CORP III	250,000	$3M	0.1%	HOLD
134	ONCH1RT ACQUISITION CORP.	260,000	$3M	0.1%	HOLD
135	RANGRANGE CAP ACQUISITION CORP	250,000	$3M	0.1%	HOLD
136	MYNBLACKROCK MUNIYIELD N Y QUAL	273,687	$3M	0.1%	NEW
137	FACTFACT II ACQUISITION CORP	250,000	$3M	0.1%	HOLD
138	ATIIARCHIMEDES TECH SPAC PARTNER	250,000	$3M	0.1%	HOLD
139	NHICNEWHOLD INVT CORP III	250,000	$3M	0.1%	HOLD
140	BLUWBLUE WTR ACQUISITION CORP. I	250,000	$3M	0.1%	HOLD
141	UACUNITED ACQUISITION CORP I	260,000	$3M	0.1%	NEW
142	SPEGSILVER PEGASUS ACQUISITION C	250,000	$3M	0.1%	HOLD
143	OYSEOYSTER ENTERPRISES II ACQUIS	250,000	$3M	0.1%	HOLD
144	WSTNWESTIN ACQUISITION CORP	250,000	$2M	0.1%	HOLD
145	LAFALAFAYETTE ACQUISITION CORP	250,000	$2M	0.1%	HOLD
146	SACSAFEGUARD ACQUISITION CORP	250,000	$2M	0.1%	NEW
147	MZYX.UMOZAYYX Acquisition Corp	250,000	$2M	0.1%	NEW
148	VACIVIKING ACQUISITION CORP I	250,000	$2M	0.1%	HOLD
149	IGACINVEST GREEN ACQUISITION COR	250,000	$2M	0.1%	HOLD
150	MUZEMUZERO ACQUISITION CORP	250,000	$2M	0.1%	NEW
151	MEVOM EVO GBL ACQUISITION CORP I	250,000	$2M	0.1%	NEW
152	XPCQXPIMCO CALIF MUN INCOME FD	284,471	$2M	0.1%	ADD 46%
153	CWENCLEARWAY ENERGY INC	60,542	$2M	0.1%	NEW
154	KFIIK&F GROWTH ACQUISITION CORP	225,000	$2M	0.1%	HOLD
155	LCCCLAKESHORE ACQUISITION III CO	218,500	$2M	0.1%	HOLD
156	BLRKBLUEROCK ACQUISITION CORP	218,525	$2M	0.1%	NEW
157	CRANCRANE HBR ACQUISITION CORP I	217,635	$2M	0.1%	NEW
158	POLEANDRETTI ACQUISITION CORP II	200,000	$2M	0.1%	HOLD
159	SCPQSOCIAL COMM PARTNERS CORP	214,400	$2M	0.1%	NEW
160	CEPOCANTOR EQUITY PARTNERS I INC	200,000	$2M	0.1%	HOLD
161	SSACSPACSPHERE ACQUISITION CORP	212,043	$2M	0.1%	NEW
162	HVIIHENNESSY CAP INVT CORP VII	200,000	$2M	0.1%	HOLD
163	XRPNARMADA ACQUISITION CORP II	200,000	$2M	0.1%	HOLD
164	SBXESILVERBOX CORP V	206,900	$2M	0.1%	NEW
165	TVAITHAYER VENTURES ACQ CORP II	200,000	$2M	0.1%	HOLD
166	ENHAA PARADISE ACQUISITION CORP	200,000	$2M	0.1%	HOLD
167	TMTSUSPARTACUS ACQUISITION CORP I	200,000	$2M	0.1%	NEW
168	FVAVFORTRESS VALUE ACQU CORP V	200,000	$2M	0.1%	NEW
169	GLED.UGALAXYEDGE ACQUISITION CORP	200,000	$2M	0.1%	NEW
170	BPACBLUEPORT ACQUISITION LTD	200,000	$2M	0.1%	NEW
171	KPET.UKPET ULTRA PACELINE CORP	200,000	$2M	0.1%	NEW
172	LATAGALATA ACQUISITION CORP II	200,000	$2M	0.1%	HOLD
173	ALUBALUSSA ENERGY ACQUISIT CORP	200,000	$2M	0.1%	NEW
174	ALISCALISA ACQUISITION CORP	200,000	$2M	0.1%	HOLD
175	TRGSUTRG LATIN AMER ACQUIS CORP	200,000	$2M	0.1%	NEW
176	BIXIBITCOIN INFRASTRUCTURE ACQUI	200,000	$2M	0.1%	NEW
177	DNMXDYNAMIX CORP III	200,000	$2M	0.1%	HOLD
178	DSACDAEDALUS SPL ACQUISITION COR	200,000	$2M	0.1%	NEW
179	KTWOK2 CAP ACQUISITION CORP	200,000	$2M	0.1%	NEW
180	SVIVSPRING VY ACQUISITION CORP I	200,000	$2M	0.1%	NEW
181	KRAQKRAKACQUISITION CORPORATION	200,000	$2M	0.1%	NEW
182	LEOBNY MELLON STRATEGIC MUNS IN	305,421	$2M	0.1%	HOLD
183	XCXEXMFS HIGH INCOME MUN TR	512,763	$2M	0.1%	HOLD
184	JACSJACKSON ACQUISITION CO II	175,000	$2M	0.1%	HOLD
185	SABRSABRE CORP	1,272,216	$2M	0.1%	NEW
186	ILFISHARES TR	50,841	$2M	0.1%	NEW
187	EWWISHARES INC MSCI MEXICO ETF	23,965	$2M	0.1%	TRIM −25%
188	MBIMBIA INC	304,461	$2M	0.1%	HOLD
189	BACCBLUE ACQUISITION CORP.	175,000	$2M	0.1%	HOLD
190	INACINDIGO ACQUISITION CORP	175,000	$2M	0.1%	HOLD
191	RRYDER SYS INC	8,702	$2M	0.1%	TRIM −8%
192	AXINAXIOM INTELLIGENCE AC CORP 1	175,000	$2M	0.1%	HOLD
193	NWSANEWS CORP NEW	68,507	$2M	0.1%	TRIM −72%
194	WLACWILLOW LANE ACQUISITION CORP	150,000	$2M	0.1%	HOLD
195	CANTOR EQUITY PARTNERS II IN	145,000	$2M	0.1%	HOLD
196	SBIWESTERN ASSET INTER MUNI FD	204,801	$2M	0.1%	HOLD
197	WTGWINTERGREEN ACQUISITION CORP	150,000	$2M	0.1%	HOLD
198	CHPGCHAMPIONSGATE ACQUISITION CO	150,000	$2M	0.1%	HOLD
199	JENAJENA ACQUISITION CORP II	150,000	$2M	0.1%	HOLD
200	EGHAEGH ACQUISITION CORP.	150,000	$2M	0.1%	HOLD

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

GTLSCHART INDS INC

—

318K

560K

759K

$157M

PENPENUMBRA INC

—

445K

$146M

WBSWEBSTER FINL CORP CONN

—

1.9M

$134M

LBRDKLIBERTY BROADBAND CORP

895K

999K

1.4M

1.5M

$74M

VALVALARIS LTD

459K

254K

—

584K

$57M

TERNS PHARMACEUTICALS INC

—

1.0M

$53M

TFPMTRIPLE FLAG PRECIOUS METAL

2.3M

2.5M

2.4M

1.8M

1.5M

$53M

MASIMASIMO CORP

—

270K

$48M

GPORGULFPORT ENERGY CORP

116K

135K

110K

275K

225K

220K

$46M

WBDWARNER BROS DISCOVERY INC

192K

182K

181K

60K

400K

1.6M

$44M

ORACLE CORP

—

900K

$41M

CCLCARNIVAL PLC

—

528K

420K

238K

—

1.3M

$34M

HEI/AHEICO CORP NEW

160K

117K

119K

123K

125K

$26M

CHRDCHORD ENERGY CORPORATION

185K

174K

159K

$23M

LITELUMENTUM HLDGS INC

—

31K

$22M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

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