9AT: WOLVERINE ASSET MANAGEMENT, LLC

other names

WOLVERINE ASSET MANAGEMENT, LLC

Adviser Profile

As of Date	03/28/2025
Adviser Type - Large advisory firm
Number of Employees	47 2%
of those in investment advisory functions	23 5%
Registration	SEC, Approved, 08/09/2011

AUM^*	11,234,881,055 33%
of that, discretionary	11,234,881,055 33%
Private Fund GAV^*	11,234,881,055 41%
Avg Account Size	3,744,960,352 33%
SMA’s	No
Private Funds	3 2
Contact Info	312 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count3	GAV$11,234,881,055

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser ZACKS INVESTMENT MANAGEMENT, INC.	Hedge Fund12.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV12.2m	AUM12.4b	#Funds2
Adviser SONA ASSET MANAGEMENT (US) LLC	Hedge Fund19.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV19.6b	AUM22.6b	#Funds6
Adviser COMPASS ROSE ASSET MANAGEMENT	Hedge Fund18.7b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV18.7b	AUM11.9b	#Funds3
Adviser FREESTONE CAPITAL MANAGEMENT, LLC	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund423.6m	Total Private Fund GAV1.8b	AUM11.5b	#Funds18
Adviser GREEN COURT CAPITAL MANAGEMENT LIMITED	Hedge Fund1.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.6b	AUM4.8b	#Funds10
Adviser NEUBERGER BERMAN CANADA ULC	Hedge Fund299.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV299.8m	AUM11.7b	#Funds3
Adviser PAAMCO PRISMA, LLC	Hedge Fund2.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.4b	AUM5.2b	#Funds15
Adviser ONE WILLIAM STREET CAPITAL MANAGEMENT, LP.	Hedge Fund10.2b	Liquidity Fund-	Private Equity Fund49.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV10.2b	AUM10.8b	#Funds25
Adviser LOMBARD ODIER ASSET MANAGEMENT (USA) CORP	Hedge Fund5.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund24.6m	Total Private Fund GAV5.3b	AUM5.7b	#Funds19
Adviser TRUTINO CAPITAL MANAGEMENT, LLC	Hedge Fund1.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2b	AUM9.6b	#Funds3

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker549498202	Stock NameLUCID GROUP INC (PUT)	$ Position$482,953,653	% Position4.00%	$ Change	# Change
Stck Ticker594972408	Stock NameSTRATEGY INC (PUT)	$ Position$429,828,140	% Position3.00%	$ Change-25.00%	# Change-6.00%
Stck Ticker093712AK3	Stock NameBLOOM ENERGY CORP	$ Position$389,647,609	% Position3.00%	$ Change204.00%	# Change0.00%
Stck Ticker01609WBG6	Stock NameALIBABA GROUP HLDG LTD	$ Position$397,666,713	% Position3.00%	$ Change137.00%	# Change65.00%
Stck TickerQ4982L109	Stock NameIREN LIMITED (PUT)	$ Position$247,349,258	% Position2.00%	$ Change284.00%	# Change19.00%
Stck Ticker76954A103	Stock NameRIVIAN AUTOMOTIVE INC (PUT)	$ Position$205,370,264	% Position2.00%	$ Change11.00%	# Change4.00%
Stck Ticker594972AQ4	Stock NameSTRATEGY INC	$ Position$236,096,903	% Position2.00%	$ Change	# Change
Stck Ticker594972AJ0	Stock NameSTRATEGY INC	$ Position$85,506,599	% Position1.00%	$ Change-22.00%	# Change-3.00%
Stck Ticker11135F101	Stock NameBROADCOM INC (PUT)	$ Position$82,048,617	% Position1.00%	$ Change1.00%	# Change-16.00%
Stck Ticker007973AE0	Stock NameADVANCED ENERGY INDS	$ Position$73,674,901	% Position1.00%	$ Change81.00%	# Change57.00%

Brochure Summary

Overview

i) Firm Description Wolverine Asset Management, LLC (“WAM” or “us” or “we”) was formed in 2001 to provide discretionary investment management services to institutional clients using structural arbitrage and relative value strategies. The indirect principal owners of WAM are Christopher Gust and Robert Bellick. ii) Types of Advisory Services WAM offers investment advisory services to institutional clients, including pooled investment vehicles (e.g., hedge funds). WAM serves as the discretionary investment manager to the funds listed below and may, in the future, serve as the discretionary investment manager to additional pooled investment vehicles, accounts, and other arrangements with institutional clients (collectively, the “WAM Funds”). The WAM Funds are offered only to sophisticated institutional investors and qualified purchasers. The “WAM Funds” include:
• Wolverine Flagship Fund, LLC (U.S.-domiciled feeder fund);
• Wolverine Flagship Fund Limited (Cayman-domiciled feeder fund); and
• Wolverine Flagship Fund Trading

Limited (a Cayman-domiciled master fund) (“WFFTL”). The objective of the WAM Funds is to seek returns on capital through arbitrage and relative value strategies. See Item 8 for a more detailed explanation of the specific strategies the WAM Funds implemented. All investment and trading activity takes place at the WFFTL level for the WAM Funds. The general purpose of the U.S.-domiciled feeder fund is to accept investments from U.S. taxable investors, and the general purpose of the Cayman-domiciled feeder fund is to accept investments from U.S. tax-exempt investors and non-U.S. investors. Transactions WAM entered on behalf of WFFTL are outlined in the confidential information memorandum or any other written agreement between WAM and the WAM Funds. Transactions WAM entered on behalf of the WAM Funds are not based on the individual needs of investors in the WAM Funds. iii) Management of Client Assets As of December 31, 2023, WAM managed approximately $3,937,184,721 in client assets on a discretionary basis on behalf of the WAM Funds.

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WOLVERINE ASSET MANAGEMENT, LLC

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