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Whitebox Advisors LLC
Andrew Redleaf · Hedge Fund · Multi-Strategy
Whitebox Advisors LLC is a multi-strategy alternative asset manager founded in 1999 and headquartered in Minneapolis, Minnesota. The firm manages a variety of investment vehicles, including hedge funds and institutional accounts, with a focus on delivering optimal risk-adjusted returns across diverse asset classes and global markets. Whitebox is known for its flexible and opportunistic approach, utilizing bottom-up fundamental research to identify mispriced securities and idiosyncratic opportunities in credit, equities, and structured products. With a global presence across offices in New York, London, and Austin, the firm serves a sophisticated clientele of public institutions, private entities, and qualified individuals.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | -11.2% |
| YTD return | -7.6% |
| Sharpe ratio | -2.59 |
| Win rate | 57% |
| AUM | $0.6B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.6B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.whiteboxadvisors.com/ |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| GTLS | Chart Industries Inc | 20.3% | +3.4% |
| LBRDK | Liberty Broadband Srs C | 17.6% | -40.9% |
| GPOR | Gulfport Energy Operating Corp | 7.8% | -18.0% |
| HEI | Heico Corporation | 7.5% | -5.2% |
| CFLT | Confluent Inc | 5.6% | +0.9% |
| EXAS | EXACT Sciences Corporation | 5.5% | +1.4% |
| FOXA | Fox Corp Class A | 5.1% | +4.7% |
| GRFS | Grifols SA ADR | 4.3% | -25.8% |
| CHRD | Chord Energy Corp | 3.2% | +40.3% |
| UP | Wheels Up Experience Inc | 3.1% | -82.8% |
| BLCO | Bausch + Lomb Corp | 3.0% | +14.5% |
| DCH | Dauch Corporation | 2.6% | -14.0% |
| CSTM | Constellium Nv | 2.3% | +69.3% |
| WBD | Warner Bros Discovery Inc | 2.0% | +7.6% |
| MGM | MGM Resorts International | 1.8% | +6.2% |
| GLIBA | GCI Liberty, Inc. - Series A GCI Group | 1.7% | -35.1% |
| UAA | Under Armour Inc A | 1.7% | -5.2% |
| ZTS | Zoetis Inc | 1.6% | -44.1% |
| SVC | Service Properties Trust | 1.5% | -37.6% |
| VNME | Vendome Acquisition Corporation I Class A Ordinary Shares | 1.4% | +3.6% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 21, 2026 | SELL | GPOR | 7.8% → 4.5% |
| Sep 21, 2026 | BUY | LLYVK | 0.0% → 2.1% |
| Sep 21, 2026 | BUY | TECH | 0.0% → 15.5% |
| Sep 21, 2026 | BUY | AZUL | 0.0% → 10.8% |
| Sep 21, 2026 | BUY | CYH | 0.0% → 1.1% |
Investment Style Analysis
Whitebox Advisors LLC is widely recognized for employing a Multi-Strategy strategy. As of Sep 21, 2026, the firm oversees approximately $0.6B in assets under management (AUM). The portfolio demonstrates a clear preference for the Specialty Industrial Machinery and Telecom Services sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 21, Whitebox Advisors LLC made a significant move by reducing the position in GPOR. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Whitebox Advisors follows a core investment philosophy centered on the belief that the primary source of return is the efficient reduction of risk. The firm operates under 'Ten Enduring Principles' that guide its team to seek out idiosyncratic mispricings where they can maximize exposure to the specific value driver while hedging out unrelated market variables. This security-agnostic and flexible approach allows Whitebox to navigate complex market structures and provide capital in unusual situations where traditional liquidity may be absent. Their strategy relies on rigorous, bottom-up fundamental analysis of balance sheets and cash flows to isolate value across the capital structure.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Whitebox Advisors LLC.
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Frequently asked questions
How is the simulated portfolio for Whitebox Advisors LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Whitebox Advisors LLC's largest holding?
As of the latest filing, Whitebox Advisors LLC's top position is Chart Industries Inc (GTLS), representing 20.3% of the portfolio. This reflects a high-conviction bet by the institution.
What is Whitebox Advisors LLC's historical performance and risk profile?
Our simulation indicates a total return of -11.2% with a win rate of 57%. Notably, the portfolio maintains a Sharpe Ratio of -2.59, suggesting an standard level of risk-adjusted returns compared to the broader market.
What sectors does Whitebox Advisors LLC primarily invest in?
Whitebox Advisors LLC has a strong preference for the Specialty Industrial Machinery sector, which makes up 20.3% of their disclosed assets. The portfolio also has exposure to Telecom Services, indicating a specific thematic focus.
Is Whitebox Advisors LLC's portfolio concentrated or diversified?
Whitebox Advisors LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 45.8% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Whitebox Advisors LLC performed in 2026?
Our AI-simulated model portfolio for Whitebox Advisors LLC tracks a Year-to-Date (YTD) return of -7.6%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Andrew Redleaf manage Whitebox Advisors LLC directly?
Yes, Andrew Redleaf serves as the key portfolio manager for Whitebox Advisors LLC, overseeing the investment strategy and final capital allocation decisions.