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Wolverine Asset Management LLC
Wolverine Asset Management LLC is a Chicago-based hedge fund and asset manager founded in 2001. The firm specializes in alternative investment strategies including event-driven, arbitrage, and relative value trading. Serving institutional investors and high net worth clients, Wolverine Asset Management is recognized for its quantitative approach and use of proprietary technology. The company employs approximately 50-100 professionals skilled in quantitative research, risk management, and trading.
Investment Strategy
Wolverine Asset Management LLC pursues a multi-strategy, opportunistic investment approach with an emphasis on event-driven, arbitrage, and relative value opportunities. Utilizing proprietary quantitative models and advanced risk management techniques, the firm seeks to capitalize on inefficiencies in global markets—including equities, derivatives, convertible securities, and structured products. The investment philosophy stresses discipline, innovation, and a dynamic response to changing market conditions.
Latest 13F Filing Activity
Wolverine Asset Management LLC filed their most recent 13F report on Jun 30, 2025 disclosing 815 equity positions and 464 options positions with a total 13F market value of $11B. The fund increased holdings in Ishares Bitcoin Trust Etf, Brightspring Health SVCS Inc., Ares Acquisition Corp. II among other positions. Wolverine Asset Management LLC reduced exposure to Microsoft Corp., Nvidia Corporation, Alphabet Inc. among others.
Top Holdings
Equity Positions (815)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
I IBIT | ISHARES BITCOIN TRUST ETF | 0.66% | $71.2M | 1,162,794 | $56.18 | $61.21 | +$51.5M |
| BRIGHTSPRING HEALTH SVCS INC | 0.33% | $36.0M | 435,663 | $64.79 | $82.55 | +$21.1M | |
V VACH | VOYAGER ACQUISITION CORP | 0.24% | $25.9M | 2,492,417 | $10.21 | $10.39 | +$11.5M |
A AAM | AA MISSION ACQUISITION CORP | 0.22% | $23.8M | 2,280,397 | $10.19 | $10.42 | +$4.8M |
A AACT | ARES ACQUISITION CORP II | 0.21% | $22.9M | 2,023,711 | $11.13 | $11.33 | +$14.1M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
M MSTR | MICROSTRATEGY INC | Bought | Put | $574.3M | 14,208 | $404.23 | $205.04 | +125 | +$168.4M |
R RIVN | RIVIAN AUTOMOTIVE INC | Bought | Put | $185.3M | 134,898 | $13.74 | $12.63 | +11,985 | +$32.3M |
C COIN | COINBASE GLOBAL INC | Sold | Put | $169.5M | 4,837 | $350.49 | $92.01 | -1,472 | +$60.9M |
R RKLB | ROCKET LAB CORP | New | Put | $127.4M | 35,628 | $35.77 | $35.77 | +35,628 | +$127.4M |
M MARA | MARA HOLDINGS INC | Bought | Put | $126.7M | 80,786 | $15.68 | $15.90 | +15,492 | +$51.6M |
Industry Allocation
Investment Team (12)
| Name | Role | Location | |
|---|---|---|---|
A Alex Dengel | Senior Derivatives Trader - Portfolio Manager | Chicago, IL , United States | |
 | Portfolio Manager | Chicago, IL , United States | |
C Christian Giustini | Senior Options Trader and Portfolio Manager | Chicago, IL , United States | |
 | Quantitative Analyst | Chicago, IL , United States | |
 | Portfolio Manager | Tenafly, NJ , United States | |
 | Quantitative Analyst | Chicago, IL , United States | |
 | Quantitative Analyst | United States | |
 | Portfolio Manager | New York, NY , United States | |
S Scott Subeck | Portfolio Manager - Capital Structure Arbitrage | Winnetka, IL , United States | |
V Vitaly Shatkovsky | Senior Portfolio Manager | United States |
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