Wolverine Asset Management Portfolio holdings
Wolverine Asset Management runs hedge funds for institutional investors that look for mispriced securities through arbitrage and relative value strategies. The firm was formed in 2001, and its indirect principal owners are Christopher Gust and Robert Bellick. Its strategies include event-driven trading around corporate deals and other catalysts, closed-end fund and real estate investment trust arbitrage, and volatility trading. It is one of three Wolverine businesses, alongside Wolverine Trading, a proprietary trading group that makes markets, and Wolverine Execution Services, an independent brokerage that executes trades in stocks, options and futures. Its funds, including the Wolverine Flagship Fund, are open only to sophisticated institutions and qualified purchasers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
|
+$56.6M |
| 2 |
Grayscale Ethereum Staking Mini ETF Shares
ETH
|
+$36.9M |
| 3 |
Super Micro Computer Depositary Shares 7% Series A Preferred Stock
SMCIP
|
+$25.6M |
| 4 |
Alphabet Inc Depositary Shares Series B Preferred Stock
GOOGN
|
+$20.2M |
| 5 |
Novanta Inc Units
NOVTU
|
+$18.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Iris Energy
IREN
|
+$44.3M |
| 2 |
Oracle Corp Preferred Stock Series D
ORCL.PRD
|
+$39.5M |
| 3 |
ANSC
Agriculture & Natural Solutions Acquisition Corp
ANSC
|
+$22.7M |
| 4 |
QXO Inc 5.50% Series B Preferred Stock
QXO.PRB
|
+$22.3M |
| 5 |
Snowflake
SNOW
|
+$20.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 87.07% |
| 2 | Financials | 7.15% |
| 3 | Communication Services | 2.34% |
| 4 | Real Estate | 0.91% |
| 5 | Technology | 0.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
PUT
Amazon
AMZN
$2.8T
| $43.7M | 0.29% |
175,500
+23,700
| +16% | +$6.02M |
2021 Q3
20 quarters
|
|
27
PUT
CleanSpark
CLSK
$1.58B
| $41.5M | 0.28% |
3,224,500
-960,100
| -23% | -$12.6M |
2024 Q4
7 quarters
|
|
28
CALL
Apple
AAPL
$4.98T
| $41.1M | 0.28% |
123,500
-124,900
| -50% | -$40.1M |
2021 Q3
20 quarters
|
|
|
29
CALL
Amazon
AMZN
$2.8T
| $39.9M | 0.27% |
160,300
-3,100
| -2% | -$788K |
2021 Q3
20 quarters
|
|
30
PUT
NVIDIA
NVDA
$4.51T
| $39.6M | 0.27% |
173,500
-43,400
| -20% | -$9.3M |
2021 Q3
20 quarters
|
|
|
31
PUT
Snowflake
SNOW
$97.3B
| $38.2M | 0.26% |
112,400
-108,100
| -49% | -$33.4M |
2024 Q3
8 quarters
|
|
32
CALL
Meta Platforms (Facebook)
META
$1.56T
| $37M | 0.25% |
51,000
-4,400
| -8% | -$2.75M |
2021 Q3
20 quarters
|
|
33
CALL
Microsoft
MSFT
$3.94T
| $36.2M | 0.24% |
70,600
+12,200
| +21% | +$5.64M |
2021 Q3
20 quarters
|
|
34
PUT
Alphabet (Google) Class A
GOOGL
$3.5T
| $36.1M | 0.24% |
105,000
-23,500
| -18% | -$8.16M |
2022 Q1
18 quarters
|
|
35
Bruker Corporation 6.375% Series A Preferred Stock
BRKRP
$1.23B
| $36M | 0.24% |
76,217
-6,241
| -8% | -$2.72M |
2025 Q3
4 quarters
|
|
36
NextEra Energy Inc 7.375% Corporate Units
NEE.PRV
| $34.1M | 0.23% |
795,512
+150,340
| +23% | +$6.99M |
2026 Q1
2 quarters
|
|
|
37
CALL
NVIDIA
NVDA
$4.51T
| $33.7M | 0.23% |
147,600
-2,900
| -2% | -$622K |
2021 Q3
20 quarters
|
|
38
PUT
Riot Platforms
RIOT
$6.27B
| $32.5M | 0.22% |
1,614,400
| – | – |
2024 Q4
7 quarters
|
|
39
Shift4 Payments Inc 6.00% Series A Preferred Stock
FOUR.PRA
$570M
| $32M | 0.22% |
643,684
-23,456
| -4% | -$1.39M |
2025 Q2
5 quarters
|
|
40
CALL
Eli Lilly
LLY
$1.21T
| $31.6M | 0.21% |
27,300
+14,900
| +120% | +$17.6M |
2021 Q3
20 quarters
|
|
41
PUT
Coinbase
COIN
$35.7B
| $31.3M | 0.21% |
167,900
-94,000
| -36% | -$16M |
2021 Q2
21 quarters
|
|
42
PUT
Wayfair
W
$15.3B
| $30.7M | 0.21% |
299,700
| – | – |
2017 Q2
37 quarters
|
|
|
43
PUT
Eli Lilly
LLY
$1.21T
| $30M | 0.2% |
25,900
+11,000
| +74% | +$13M |
2021 Q3
20 quarters
|
|
44
PUT
Morgan Stanley
MS
$284B
| $29.3M | 0.2% |
155,800
+80,700
| +107% | +$17.1M |
2021 Q3
20 quarters
|
|
45
Microchip Technology Inc 7.50% Series A Preferred Stock
MCHPP
| $28.8M | 0.19% |
432,409
+167,603
| +63% | +$11.2M |
2026 Q1
2 quarters
|
|
46
PUT
First Majestic Silver
AG
$7.47B
| $28.5M | 0.19% |
1,609,700
-243,900
| -13% | -$4.49M |
2018 Q1
34 quarters
|
|
47
CALL
Intel
INTC
$299B
| $27.7M | 0.19% |
230,400
+98,900
| +75% | +$10.1M |
2021 Q3
20 quarters
|
|
48
PUT
Marathon Digital Holdings
MARA
$2.45B
| $27.1M | 0.18% |
2,394,900
-5,407,800
| -69% | -$62.2M |
2021 Q4
19 quarters
|
|
49
PUT
Broadcom
AVGO
$1.4T
| $26.3M | 0.18% |
75,000
+15,400
| +26% | +$5.8M |
2021 Q3
20 quarters
|
|
50
PUT
Micron Technology
MU
$781B
| $25.1M | 0.17% |
23,600
+5,300
| +29% | +$5.03M |
2021 Q3
20 quarters
|
|
Similar funds
Wolverine Asset Management's Q3 2026 Portfolio in Review
As of Q3 2026, Wolverine Asset Management held 1,976 positions worth $14.9B, up 31% from $11.4B the previous quarter. Its ten largest holdings account for 20% of the portfolio.
Wolverine Asset Management withdrew a net $4.58B in Q3 2026, closing 242 positions and reducing 461 holdings. Its most notable exit was Iris Energy, an estimated $44.3M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 87% of assets, up from 82% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Wolverine Asset Management opened a new position in KKR & Co worth $12.3M.
- Wolverine Asset Management's largest Q3 2026 buy was KKR & Co: 134,572 shares worth $12.3M.
- Wolverine Asset Management added most to Boeing Co 6.00% Series A Preferred Stock in Q3 2026, an estimated $56.6M increase.
- Wolverine Asset Management's biggest Q3 2026 reduction was Marathon Digital Holdings, cutting an estimated $15.9M.
- Wolverine Asset Management fully exited Iris Energy in Q3 2026, selling an estimated $44.3M.
- Wolverine Asset Management's ten largest holdings make up 20% of its $14.9B portfolio in Q3 2026.
- Wolverine Asset Management opened 283 new positions and closed 242 in Q3 2026.
- Wolverine Asset Management's portfolio value rose 31% quarter-over-quarter to $14.9B.
Based on Wolverine Asset Management's 13F filing for Q3 2026, filed 2 Nov 2026.