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 | |
|---|---|---|---|---|---|---|---|
51
CALL
Costco
COST
$467B
| $24.6M | 0.17% |
27,000
+23,900
| +771% | +$22.3M |
2025 Q1
6 quarters
|
|
52
EQV Ventures Acquisition Corp II
EVAC
$606M
| $24.1M | 0.16% |
2,333,261
-217,876
| -9% | -$2.24M |
2025 Q3
4 quarters
|
|
53
PUT
JetBlue
JBLU
$1.38B
| $23.7M | 0.16% |
5,591,200
+1,992,100
| +55% | +$10.3M |
2024 Q3
8 quarters
|
|
|
54
PUT
Oracle
ORCL
$362B
| $22.6M | 0.15% |
164,300
+63,900
| +64% | +$9.02M |
2022 Q3
16 quarters
|
|
55
PG&E Corp 6.000% Series A Preferred Stock
PCG.PRX
$1.07B
| $22.3M | 0.15% |
705,348
+381,228
| +118% | +$15.1M |
2024 Q4
7 quarters
|
|
56
PUT
TeraWulf
WULF
$5.67B
| $22M | 0.15% |
1,489,300
-400,000
| -21% | -$7M |
2024 Q4
7 quarters
|
|
57
PUT
Fastly Inc
FSLY
$2.56B
| $21.8M | 0.15% |
848,700
| – | – |
2025 Q1
6 quarters
|
|
58
PUT
Tesla
TSLA
$1.42T
| $21.7M | 0.15% |
61,100
-23,600
| -28% | -$8.45M |
2013 Q2
53 quarters
|
|
59
CALL
Micron Technology
MU
$781B
| $21.6M | 0.15% |
20,300
+15,300
| +306% | +$14.5M |
2024 Q4
7 quarters
|
|
60
PUT
Citigroup
C
$197B
| $21.2M | 0.14% |
163,900
+64,200
| +64% | +$8.65M |
2021 Q3
20 quarters
|
|
61
CALL
Broadcom
AVGO
$1.4T
| $20.4M | 0.14% |
58,000
+36,500
| +170% | +$13.7M |
2021 Q3
20 quarters
|
|
62
PUT
Bank of America
BAC
$341B
| $20M | 0.13% |
367,100
-111,600
| -23% | -$6.8M |
2022 Q3
16 quarters
|
|
|
63
CALL
Tesla
TSLA
$1.42T
| $19.7M | 0.13% |
55,600
+22,500
| +68% | +$8.05M |
2016 Q1
42 quarters
|
|
64
MFA Financial
MFA
$628M
| $19.6M | 0.13% |
2,492,945
+783,633
| +46% | +$7.01M |
2025 Q2
5 quarters
|
|
65
PUT
Microchip Technology
MCHP
$31.8B
| $19.4M | 0.13% |
250,000
| – | – |
2026 Q2
1 quarter
|
|
|
66
CALL
Bank of America
BAC
$341B
| $19.3M | 0.13% |
354,700
-4,800
| -1% | -$292K |
2022 Q3
16 quarters
|
|
67
Whirlpool Corp 8.50% Series A Preferred Stock
WHR.PRA
| $19.2M | 0.13% |
676,663
+235,411
| +53% | +$7.88M |
2026 Q1
2 quarters
|
|
68
Drugs Made In America Acquisition II Corp
DMII
$650M
| $18.8M | 0.13% |
1,842,235
-12,987
| -0.7% | -$132K |
2025 Q4
3 quarters
|
|
69
PUT
Palantir
PLTR
$386B
| $18.7M | 0.13% |
100,100
-22,200
| -18% | -$3.54M |
2025 Q1
6 quarters
|
|
70
PUT
Cipher Digital
CIFR
$2.98B
| $18.1M | 0.12% |
1,144,900
| – | – |
2025 Q2
5 quarters
|
|
71
PUT
Valaris
VAL
$5.54B
| $18M | 0.12% |
229,800
| – | – |
2021 Q4
19 quarters
|
|
72
PUT
Alphabet (Google) Class C
GOOG
$3.49T
| $17.9M | 0.12% |
52,600
-48,900
| -48% | -$16.9M |
2021 Q3
20 quarters
|
|
|
73
CALL
Citigroup
C
$197B
| $17.7M | 0.12% |
136,900
+72,400
| +112% | +$9.8M |
2021 Q3
20 quarters
|
|
74
PUT
ON Semiconductor
ON
$24.6B
| $17.3M | 0.12% |
224,800
| – | – |
2025 Q2
5 quarters
|
|
|
75
CALL
Oracle
ORCL
$362B
| $17.2M | 0.12% |
125,400
+60,400
| +93% | +$8.52M |
2022 Q3
16 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.