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 | |
|---|---|---|---|---|---|---|---|
|
126
QXO Inc
QXO
$13.3B
| $10.4M | 0.07% |
890,217
+852,958
| +2,289% | +$11.7M |
2026 Q2
1 quarter
|
|
127
Morgan Stanley
MS
$296B
| $10.2M | 0.07% |
+54,474
| New | +$11.6M |
2026 Q3
0 quarters
|
|
128
Bitwise Solana Staking ETF
BSOL
$664M
| $10.2M | 0.07% |
630,825
+150,030
| +31% | +$1.84M |
2025 Q4
3 quarters
|
|
129
ACP Holdings Acquisition Corp
ACGC
$294M
| $10.1M | 0.07% |
1,005,953
+98,951
| +11% | +$989K |
2026 Q2
1 quarter
|
|
130
PUT
GE Aerospace
GE
$343B
| $10.1M | 0.07% |
32,400
+9,300
| +40% | +$3.22M |
2023 Q1
14 quarters
|
|
131
K&F Growth Acquisition Corp II
KFII
$418M
| $10M | 0.07% |
934,577
-8,259
| -0.9% | -$87.7K |
2025 Q1
6 quarters
|
|
132
Xsolla SPAC 1
XSLL
$278M
| $10M | 0.07% |
997,337
+89,136
| +10% | +$888K |
2026 Q2
1 quarter
|
|
133
PUT
Intuitive Surgical
ISRG
$152B
| $9.9M | 0.07% |
24,400
+16,100
| +194% | +$6.15M |
2024 Q1
10 quarters
|
|
134
Armada Acquisition Corp III
AACI
$344M
| $9.9M | 0.07% |
985,018
-34,854
| -3% | -$349K |
2026 Q1
2 quarters
|
|
135
CALL
UnitedHealth
UNH
$363B
| $9.9M | 0.07% |
26,900
-14,500
| -35% | -$5.84M |
2021 Q3
20 quarters
|
|
136
CALL
Cisco
CSCO
$402B
| $9.8M | 0.07% |
91,300
-4,700
| -5% | -$530K |
2022 Q1
18 quarters
|
|
137
Collective Acquisition Corp II
CAII
$340M
| $9.8M | 0.07% |
977,383
+627,885
| +180% | +$6.26M |
2026 Q2
1 quarter
|
|
138
PUT
CVR Energy
CVI
$4.56B
| $9.7M | 0.07% |
190,700
-84,100
| -31% | -$3.31M |
2023 Q4
11 quarters
|
|
139
SPACSphere Acquisition Corp
SSAC
$238M
| $9.7M | 0.07% |
954,297
-208,933
| -18% | -$2.1M |
2026 Q1
2 quarters
|
|
140
CALL
Adobe
ADBE
$92.8B
| $9.6M | 0.06% |
39,900
+16,600
| +71% | +$4.16M |
2021 Q3
20 quarters
|
|
141
PUT
Joby Aviation
JOBY
$5.43B
| $9.6M | 0.06% |
1,578,700
+830,100
| +111% | +$6.03M |
2026 Q1
2 quarters
|
|
142
PUT
Tenet Healthcare
THC
$22.8B
| $9.46M | 0.06% |
37,000
| – | – |
2025 Q2
5 quarters
|
|
143
PUT
Enphase Energy
ENPH
$3.54B
| $9.42M | 0.06% |
285,500
| – | – |
2023 Q4
11 quarters
|
|
144
PUT
Visa
V
$784B
| $9.41M | 0.06% |
26,200
-2,700
| -9% | -$987K |
2021 Q3
20 quarters
|
|
|
145
PUT
Adobe
ADBE
$92.8B
| $9.38M | 0.06% |
39,100
+3,200
| +9% | +$801K |
2021 Q3
20 quarters
|
|
146
Roman DBDR Acquisition Corp II
DRDB
$331M
| $9.37M | 0.06% |
873,517
+84,017
| +11% | +$893K |
2025 Q1
6 quarters
|
|
147
PUT
AbbVie
ABBV
$520B
| $9.34M | 0.06% |
35,700
+24,400
| +216% | +$6.26M |
2022 Q3
16 quarters
|
|
148
PUT
Enovix
ENVX
$395M
| $9.28M | 0.06% |
3,199,600
+1,654,300
| +107% | +$6.48M |
2023 Q2
13 quarters
|
|
149
Drugs Made In America Acquisition Corp
DMAA
$265M
| $9.27M | 0.06% |
851,989
+19,896
| +2% | +$214K |
2025 Q1
6 quarters
|
|
150
PUT
Walmart Inc
WMT
$1T
| $9.26M | 0.06% |
89,100
+55,300
| +164% | +$6.07M |
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.