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 | |
|---|---|---|---|---|---|---|---|
|
151
Oracle
ORCL
$368B
| $9.24M | 0.06% |
67,269
+42,077
| +167% | +$5.94M |
2025 Q4
3 quarters
|
|
152
Hall Chadwick Acquisition Corp
HCAC
$297M
| $9.21M | 0.06% |
909,213
-6,934
| -0.8% | -$69.9K |
2026 Q1
2 quarters
|
|
153
Wen Acquisition Corp
WENN
$393M
| $9.21M | 0.06% |
883,625
-222,841
| -20% | -$2.31M |
2025 Q3
4 quarters
|
|
154
Apex Treasury Corp
APXT
$468M
| $9.19M | 0.06% |
907,360
-518,638
| -36% | -$5.25M |
2025 Q4
3 quarters
|
|
155
NMP Acquisition Corp
NMP
$167M
| $9.04M | 0.06% |
872,209
-3,963
| -0.5% | -$40.9K |
2025 Q3
4 quarters
|
|
156
Cipher Digital
CIFR
$2.98B
| $9.04M | 0.06% |
570,998
+100,402
| +21% | +$1.87M |
2026 Q1
2 quarters
|
|
157
CALL
Lam Research
LRCX
$278B
| $9.03M | 0.06% |
+27,500
| New | +$8.59M |
2026 Q3
0 quarters
|
|
158
Muzero Acquisition Corp
MUZE
$274M
| $9M | 0.06% |
899,652
+486,755
| +118% | +$4.86M |
2026 Q1
2 quarters
|
|
159
PUT
Netflix
NFLX
$260B
| $8.96M | 0.06% |
128,800
+45,500
| +55% | +$3.42M |
2023 Q2
13 quarters
|
|
160
Galata Acquisition Corp II
LATA
$235M
| $8.79M | 0.06% |
861,331
+18,155
| +2% | +$184K |
2025 Q4
3 quarters
|
|
161
Texas Ventures Acquisition III Corp
TVA
$321M
| $8.71M | 0.06% |
+822,852
| New | +$8.68M |
2026 Q3
0 quarters
|
|
162
CALL
NextEra Energy
NEE
$181B
| $8.55M | 0.06% |
112,900
+2,200
| +2% | +$186K |
2022 Q3
16 quarters
|
|
|
BID
163
Tribeca Strategic Acquisition Corp
BID
$192M
| $8.52M | 0.06% |
+859,268
| New | +$8.49M |
2026 Q3
0 quarters
|
|
|
164
PUT
Lam Research
LRCX
$278B
| $8.51M | 0.06% |
+25,900
| New | +$8.09M |
2026 Q3
0 quarters
|
|
165
The Southern Company 2025 Series A Corp Units
SOMN
| $8.46M | 0.06% |
188,888
+1,836
| +1% | +$88.9K |
2026 Q2
1 quarter
|
|
166
X3 Acquisition Corp
XCBE
$282M
| $8.44M | 0.06% |
842,943
+256,081
| +44% | +$2.56M |
2026 Q1
2 quarters
|
|
167
Aldabra 4 Liquidity Opportunity Vehicle
ALOV
$376M
| $8.37M | 0.06% |
833,816
+781,946
| +1,508% | +$7.81M |
2026 Q2
1 quarter
|
|
168
Soulpower Acquisition Corp
SOUL
$358M
| $8.35M | 0.06% |
795,067
-411,896
| -34% | -$4.29M |
2025 Q2
5 quarters
|
|
169
PUT
Blackrock
BLK
$189B
| $8.25M | 0.06% |
7,800
+5,000
| +179% | +$5.46M |
2026 Q2
1 quarter
|
|
170
Orchid Island Capital
ORC
$946M
| $8.16M | 0.06% |
1,503,654
+796,799
| +113% | +$5.18M |
2024 Q3
8 quarters
|
|
171
PUT
Akamai
AKAM
$12.1B
| $8.1M | 0.05% |
76,200
| – | – |
2026 Q1
2 quarters
|
|
172
CALL
Strategy Inc
MSTR
$51.2B
| $8.08M | 0.05% |
52,800
+52,700
| +52,700% | +$6.1M |
2022 Q2
17 quarters
|
|
173
PUT
ConocoPhillips
COP
$160B
| $8.05M | 0.05% |
64,300
+26,400
| +70% | +$3.27M |
2023 Q1
14 quarters
|
|
174
CALL
Live Nation Entertainment
LYV
$42B
| $8.02M | 0.05% |
47,400
| – | – |
2025 Q4
3 quarters
|
|
175
PUT
Merck
MRK
$365B
| $7.98M | 0.05% |
54,900
-14,200
| -21% | -$1.96M |
2022 Q2
17 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.