{ "crd_number": 121995, "slug": "whitebox-advisors-llc-minneapolis-mn-121995", "primary_business_name": "WHITEBOX ADVISORS LLC", "legal_name": "WHITEBOX ADVISORS LLC", "dbas": [ "WHITEBOX ADVISORS AUSTRALIA PTY LTD. (RELYING ADVISER)", "WHITEBOX ADVISORS LONDON, LLP (RELYING ADVISER)", "WHITEBOX CAPITAL MANAGEMENT LLC (RELYING ADVISER)" ], "city": "Minneapolis", "state": "MN", "country": "United States", "cbsa_code": "33460", "metro": { "cbsa_code": "33460", "common_name": "Minneapolis", "msa_name": "Minneapolis-St. Paul-Bloomington, MN-WI", "path": "/advisors/mn/minneapolis" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2006-01-31", "years_registered": 20, "period": "2026-10-01", "filing_date": "2026-03-25", "carried_forward": false, "raum_total": 15739556705.0, "raum_discretionary": 15739556705.0, "raum_non_discretionary": 0.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 67, "advisory_employees": 35, "client_count_bucket": null, "clients_by_type": { "pooled_investment_vehicles": { "raum": 15739556705.0, "count": 16 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 4, "states_registered": [ "MN", "NY", "TX" ], "websites": [ "https://linkedin.com/company/whitebox-advisors", "https://whiteboxadvisors.com" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/121995", "disclosure_items": [ { "item": "11.C(2)", "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?" }, { "item": "11.C(4)", "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.C(5)", "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?" }, { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" } ], "city_as_filed": "MINNEAPOLIS", "url": "https://advisorcensus.com/firm/whitebox-advisors-llc-minneapolis-mn-121995", "display_name": "Whitebox Advisors LLC", "summary": "Whitebox Advisors LLC is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.", "citation": "AdvisorCensus. Whitebox Advisors LLC (CRD 121995): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is Whitebox Advisors LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Whitebox Advisors LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees." }, { "q": "Where is Whitebox Advisors LLC located?", "a": "Whitebox Advisors LLC's principal office is in Minneapolis, MN, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F)." }, { "q": "Is Whitebox Advisors LLC registered with the SEC or a state?", "a": "Whitebox Advisors LLC is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 121995." }, { "q": "How much does Whitebox Advisors LLC manage?", "a": "Whitebox Advisors LLC reports $15,739,556,705 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary)." }, { "q": "How have Whitebox Advisors LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Whitebox Advisors LLC: Regulatory assets under management: $9,975,062,179 in the October 2021 data and $15,739,556,705 in the October 2026 data, up 58%. Total employees: 74 in October 2021 and 67 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Whitebox Advisors LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (16)." }, { "q": "Does Whitebox Advisors LLC report any disciplinary disclosures?", "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), and 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/121995" }, { "q": "What changed in Whitebox Advisors LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $11,045,111,413 to $15,739,556,705 (+43%). Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 9975062179.0, "total_employees": 74, "filing_date": "2021-08-16" }, { "period": "2022-10-01", "regulatory_assets_under_management": 10628950544.0, "total_employees": 63, "filing_date": "2022-06-01" }, { "period": "2023-10-01", "regulatory_assets_under_management": 9519581000.0, "total_employees": 68, "filing_date": "2023-07-28" }, { "period": "2024-10-01", "regulatory_assets_under_management": 9565705000.0, "total_employees": 65, "filing_date": "2024-05-15" }, { "period": "2025-10-01", "regulatory_assets_under_management": 11045111413.0, "total_employees": 67, "filing_date": "2025-05-12" }, { "period": "2026-10-01", "regulatory_assets_under_management": 15739556705.0, "total_employees": 67, "filing_date": "2026-03-25" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $11,045,111,413 to $15,739,556,705 (+43%).", "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/whitebox-advisors-llc-minneapolis-mn-121995.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 16, "fewer_than_5": false, "raum": 15739556705.0 } ], "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/121995", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }