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 | |
|---|---|---|---|---|---|---|---|
201
CALL
Walmart Inc
WMT
$997B
| $7.13M | 0.05% |
68,600
+45,100
| +192% | +$4.95M |
2022 Q3
16 quarters
|
|
202
PUT
MP Materials
MP
$6.55B
| $7.1M | 0.05% |
150,200
| – | – |
2021 Q2
21 quarters
|
|
203
CALL
Deere & Co
DE
$187B
| $7.05M | 0.05% |
10,500
+9,300
| +775% | +$5.92M |
2026 Q1
2 quarters
|
|
204
PUT
Johnson & Johnson
JNJ
$675B
| $7.02M | 0.05% |
26,500
+18,100
| +215% | +$4.78M |
2022 Q2
17 quarters
|
|
205
Crown Reserve Acquisition Corp I
CRAC
$230M
| $7.01M | 0.05% |
684,109
+25,830
| +4% | +$263K |
2025 Q4
3 quarters
|
|
206
XFLH Capital Corp
XFLH
$141M
| $7.01M | 0.05% |
697,695
+9,302
| +1% | +$93.1K |
2026 Q1
2 quarters
|
|
207
Taiwan Fund
TWN
$481M
| $6.97M | 0.05% |
68,416
+25,748
| +60% | +$2.45M |
2026 Q2
1 quarter
|
|
208
West Enclave Merger Corp
WENC
$161M
| $6.92M | 0.05% |
691,718
+42,067
| +6% | +$420K |
2026 Q2
1 quarter
|
|
209
CleanSpark
CLSK
$1.77B
| $6.89M | 0.05% |
535,140
+535,137
| +17,837,900% | +$7.01M |
2025 Q2
5 quarters
|
|
|
BREZ
210
Breeze Acquisition Corp II
BREZ
$199M
| $6.86M | 0.05% |
685,000
| – | – |
2026 Q2
1 quarter
|
|
211
Meshflow Acquisition Corp
MESH
$437M
| $6.83M | 0.05% |
676,955
+294,231
| +77% | +$2.96M |
2026 Q1
2 quarters
|
|
212
PUT
Hims & Hers Health
HIMS
$4.86B
| $6.83M | 0.05% |
229,200
+2,700
| +1% | +$82.9K |
2025 Q2
5 quarters
|
|
213
PUT
PayPal
PYPL
$49.4B
| $6.79M | 0.05% |
129,200
+114,500
| +779% | +$6.3M |
2024 Q2
9 quarters
|
|
214
Evolution Global Acquisition Corp
EVOX
$324M
| $6.78M | 0.05% |
669,325
+566,822
| +553% | +$5.72M |
2026 Q2
1 quarter
|
|
215
Kilroy Realty
KRC
$4.21B
| $6.74M | 0.05% |
202,690
+11,090
| +6% | +$411K |
2025 Q4
3 quarters
|
|
216
Oceanhawk Acquisition Corp
OHAC
$251M
| $6.71M | 0.05% |
671,435
-4,270
| -0.6% | -$42.5K |
2026 Q2
1 quarter
|
|
217
DELISTED
LXP Industrial Trust
LXP
| $6.69M | 0.05% |
109,827
+50,296
| +84% | +$3.01M |
2023 Q4
11 quarters
|
|
218
Hennessy Capital Investment Corp
HCIC
$355M
| $6.64M | 0.04% |
665,812
-52,143
| -7% | -$521K |
2026 Q1
2 quarters
|
|
219
OTG Acquisition Corp I
OTGA
$304M
| $6.61M | 0.04% |
643,672
-79,293
| -11% | -$809K |
2025 Q4
3 quarters
|
|
220
PUT
Denison Mines
DNN
$1.98B
| $6.6M | 0.04% |
2,550,100
+1,357,400
| +114% | +$4.19M |
2025 Q3
4 quarters
|
|
221
Eaton Vance Tax-Managed Diversified Equity Income Fund
ETY
$2.19B
| $6.48M | 0.04% |
461,017
+159,206
| +53% | +$2.29M |
2025 Q4
3 quarters
|
|
222
PUT
Whirlpool
WHR
$1.98B
| $6.47M | 0.04% |
211,000
+56,500
| +37% | +$2.14M |
2026 Q1
2 quarters
|
|
223
TRG Latin America Acquisitions Corp
TRGS
$260M
| $6.44M | 0.04% |
645,541
+2,097
| +0.3% | +$20.8K |
2026 Q2
1 quarter
|
|
224
Bitcoin Infrastructure Acquisition Corp
BIXI
$305M
| $6.41M | 0.04% |
633,010
+108,364
| +21% | +$1.09M |
2026 Q1
2 quarters
|
|
225
PUT
Intuitive Machines
LUNR
$1.97B
| $6.39M | 0.04% |
448,600
| – | – |
2025 Q3
4 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.