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 | |
|---|---|---|---|---|---|---|---|
176
PUT
PennyMac Financial
PFSI
$3.27B
| $7.97M | 0.05% |
129,200
+126,500
| +4,685% | +$9.6M |
2022 Q4
15 quarters
|
|
177
PUT
Thermo Fisher Scientific
TMO
$266B
| $7.97M | 0.05% |
11,800
+8,900
| +307% | +$5.29M |
2022 Q3
16 quarters
|
|
178
Siddhi Acquisition Corp
SDHI
$370M
| $7.87M | 0.05% |
746,672
+2,104
| +0.3% | +$22.1K |
2025 Q2
5 quarters
|
|
179
Jackson Acquisition Co II
JACS
$321M
| $7.84M | 0.05% |
723,921
-324,210
| -31% | -$3.48M |
2025 Q1
6 quarters
|
|
180
CALL
Netflix
NFLX
$260B
| $7.79M | 0.05% |
111,900
+19,300
| +21% | +$1.45M |
2022 Q1
18 quarters
|
|
181
Activate Energy Acquisition Corp
AEAQ
$318M
| $7.76M | 0.05% |
769,361
+413,788
| +116% | +$4.16M |
2026 Q1
2 quarters
|
|
182
Oxley Bridge Acquisition Ltd
OBA
$329M
| $7.75M | 0.05% |
748,900
-74,212
| -9% | -$765K |
2025 Q3
4 quarters
|
|
|
QLEP
183
Quantum Leap Acquisition Corp
QLEP
$301M
| $7.75M | 0.05% |
768,738
-28,543
| -4% | -$285K |
2026 Q2
1 quarter
|
|
184
CALL
Rivian
RIVN
$20B
| $7.69M | 0.05% |
514,400
+214,400
| +71% | +$3.48M |
2026 Q2
1 quarter
|
|
185
CALL
Intuitive Surgical
ISRG
$156B
| $7.56M | 0.05% |
18,600
+300
| +2% | +$115K |
2024 Q1
10 quarters
|
|
186
CALL
Mastercard
MA
$574B
| $7.5M | 0.05% |
13,600
+11,200
| +467% | +$6.3M |
2022 Q3
16 quarters
|
|
187
PUT
Delta Air Lines
DAL
$60.7B
| $7.49M | 0.05% |
89,800
-5,800
| -6% | -$492K |
2020 Q2
25 quarters
|
|
188
Pioneer Acquisition I Corp
PACH
$296M
| $7.47M | 0.05% |
719,927
-68,535
| -9% | -$706K |
2025 Q3
4 quarters
|
|
189
Disciplined Growth Acquisition Corporation
DGAC
$221M
| $7.42M | 0.05% |
+740,980
| New | +$7.38M |
2026 Q3
0 quarters
|
|
190
CALL
IBM
IBM
$231B
| $7.32M | 0.05% |
33,300
+27,100
| +437% | +$6.44M |
2023 Q1
14 quarters
|
|
191
CALL
Texas Instruments
TXN
$275B
| $7.31M | 0.05% |
26,100
+7,100
| +37% | +$1.96M |
2021 Q3
20 quarters
|
|
192
PUT
Deere & Co
DE
$186B
| $7.25M | 0.05% |
10,800
+8,500
| +370% | +$5.41M |
2023 Q1
14 quarters
|
|
193
Eaton Vance Enhance Equity Income Fund II
EOS
$1.07B
| $7.23M | 0.05% |
339,442
+104,716
| +45% | +$2.26M |
2025 Q3
4 quarters
|
|
194
Charlton Aria Acquisition Corp
CHAR
$120M
| $7.22M | 0.05% |
658,602
-12,773
| -2% | -$140K |
2024 Q4
7 quarters
|
|
|
195
PUT
IBM
IBM
$231B
| $7.21M | 0.05% |
32,800
+23,900
| +269% | +$5.68M |
2023 Q1
14 quarters
|
|
196
PUT
American Express
AXP
$217B
| $7.21M | 0.05% |
23,700
+2,400
| +11% | +$802K |
2024 Q1
10 quarters
|
|
197
Hims & Hers Health
HIMS
$4.46B
| $7.18M | 0.05% |
241,161
-10,458
| -4% | -$321K |
2026 Q2
1 quarter
|
|
198
Caesars Entertainment
CZR
$5.97B
| $7.16M | 0.05% |
241,533
-2,368
| -1% | -$70.6K |
2021 Q4
19 quarters
|
|
199
Solarius Capital Acquisition Corp
SOCA
$244M
| $7.15M | 0.05% |
688,419
-217,539
| -24% | -$2.24M |
2025 Q3
4 quarters
|
|
200
PUT
Chord Energy
CHRD
$7.37B
| $7.13M | 0.05% |
53,200
+3,000
| +6% | +$411K |
2025 Q1
6 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.