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Wolverine Asset Management, LLC
Christopher Gust · Hedge Fund · Multi-Strategy
Wolverine Asset Management, LLC (WAM) is a Chicago-based alternative investment firm established in 2001 as part of the Wolverine family of companies. The firm specializes in generating absolute returns for institutional and high-net-worth investors through a diverse range of strategies, including risk arbitrage, relative value, and macro-oriented approaches. WAM focuses on asset classes such as equity, credit, commodity, and volatility, utilizing a combination of fundamental research, quantitative analysis, and sophisticated proprietary technology. Its flagship offerings include convertible arbitrage and capital structure arbitrage funds, which emphasize strategic diversification and capital preservation. By leveraging the world-class execution technology and market-making expertise of its affiliates, Wolverine Asset Management aims to deliver consistent, uncorrelated risk-adjusted returns while navigating complex market conditions across global exchanges.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +7.4% |
| YTD return | -0.5% |
| Sharpe ratio | 2.67 |
| Win rate | 61% |
| AUM | $0.6B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.6B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://wolvefunds.com |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| MIAX | Miami International Holdings, Inc. | 29.0% | -4.6% |
| BTSG | BrightSpring Health Services, Inc. Common Stock | 11.8% | +72.9% |
| IREN | IREN Ltd | 8.2% | -16.6% |
| META | Meta Platforms Inc. | 4.7% | +21.9% |
| EVAC | EQV Ventures Acquisition Corp. II | 4.4% | +1.5% |
| NVDA | NVIDIA Corporation | 4.2% | +6.0% |
| TSLA | Tesla Inc | 4.2% | -11.7% |
| ANSC | Agriculture & Natural Solutions Acquisition Corporation Class A Ordinary Shares | 3.8% | +4.1% |
| SNOW | Snowflake Inc. | 3.1% | +40.5% |
| DMII | Drugs Made In America Acquisition II Corp. Ordinary Shares | 3.0% | +1.3% |
| DMAA | Drugs Made In America Acquisition Corp. Ordinary Shares | 2.8% | +4.8% |
| AMZN | Amazon.com Inc | 2.5% | +5.2% |
| AMD | Advanced Micro Devices Inc | 2.4% | +35.2% |
| POLE | Andretti Acquisition Corp. II Class A Ordinary Shares | 2.4% | +1.8% |
| BA | The Boeing Company | 2.4% | -6.7% |
| MFA | MFA Financial Inc | 2.4% | -6.5% |
| MSFT | Microsoft Corporation | 2.2% | +0.5% |
| GOOGL | Alphabet Inc Class A | 2.2% | -1.4% |
| KRC | Kilroy Realty Corp | 2.2% | -12.0% |
| SOUL | Soulpower Acquisition Corporation | 2.1% | +0.8% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 24, 2026 | BUY | MSFT | 2.2% → 2.7% |
| Aug 24, 2026 | BUY | SSAC | 0.0% → 2.5% |
| Aug 24, 2026 | SELL | GOOGL | 2.2% → 0.0% |
| Aug 24, 2026 | SELL | AMD | 2.4% → 0.0% |
| Aug 24, 2026 | SELL | BA | 2.4% → 0.0% |
Investment Style Analysis
Wolverine Asset Management, LLC is widely recognized for employing a Multi-Strategy strategy. As of Sep 21, 2026, the firm oversees approximately $0.6B in assets under management (AUM). The portfolio demonstrates a clear preference for the Capital Markets and Shell Companies sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 24, Wolverine Asset Management, LLC made a significant move by increasing exposure to MSFT. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Wolverine Asset Management’s core philosophy revolves around the pursuit of absolute returns through the application of structural arbitrage and relative value strategies. The firm seeks to exploit market inefficiencies across corporate capital structures, volatility indices, and global equities by combining bottom-up fundamental research with advanced quantitative modeling. A critical component of their strategy is the integration of high-level risk-management technology and operational scale, allowing the team to identify securities trading below theoretical fair value while actively hedging against extreme market risks. WAM prioritizes capital preservation and strategic diversification, aiming to produce performance that remains largely uncorrelated with broader market movements.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Wolverine Asset Management, LLC.
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Frequently asked questions
How is the simulated portfolio for Wolverine Asset Management, LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Wolverine Asset Management, LLC's largest holding?
As of the latest filing, Wolverine Asset Management, LLC's top position is Miami International Holdings, Inc. (MIAX), representing 29.0% of the portfolio. This reflects a high-conviction bet by the institution.
What is Wolverine Asset Management, LLC's historical performance and risk profile?
Our simulation indicates a total return of +7.4% with a win rate of 61%. Notably, the portfolio maintains a Sharpe Ratio of 2.67, suggesting an excellent level of risk-adjusted returns compared to the broader market.
What sectors does Wolverine Asset Management, LLC primarily invest in?
Wolverine Asset Management, LLC has a strong preference for the Capital Markets sector, which makes up 37.1% of their disclosed assets. The portfolio also has exposure to Shell Companies, indicating a specific thematic focus.
Is Wolverine Asset Management, LLC's portfolio concentrated or diversified?
Wolverine Asset Management, LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 48.9% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Wolverine Asset Management, LLC performed in 2026?
Our AI-simulated model portfolio for Wolverine Asset Management, LLC tracks a Year-to-Date (YTD) return of -0.5%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Christopher Gust manage Wolverine Asset Management, LLC directly?
Yes, Christopher Gust serves as the key portfolio manager for Wolverine Asset Management, LLC, overseeing the investment strategy and final capital allocation decisions.