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WOLVERINE TRADING, LLC — 13F Holdings & Portfolio

CIK 927337 · latest 13F-HR filed 2025-11-14

Backtest portfolio

WOLVERINE TRADING, LLC manages $138.73B in 13F-reported U.S. long-equity assets across 5,565 reported positions as of its 2025-09-30 13F-HR filing. Its largest disclosed positions are SPY (5.56%), SPY (5.39%), QQQ (4.86%). Quarter over quarter (versus its 2025-06-30 filing) the fund opened 666 new positions, exited 292, added to 547, and trimmed 297.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM

$138.73B

Long-equity book

Holdings

5,565

Distinct positions

Period

2025-09-30

Filed 2025-11-14

Q/Q Activity

+666 / −292 / ↑547 / ↓297

vs 2025-06-30

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • SELECT SECTOR SPDR TR$74.2M +495.6%
  • ISHARES TR$68.7M +924.9%
  • NVIDIA CORPORATION$58.9M +48.5%
  • ALPHABET INC$52.0M +147.5%
  • WYNN RESORTS LTD$47.3M +1204.1%
Show all 547 →

Top Trims

  • SPDR S&P 500 ETF TR-$257.9M -29.8%
  • SPDR DOW JONES INDL AVERAGE-$177.9M -73.4%
  • MICROSOFT CORP-$84.1M -50.5%
  • ISHARES TR-$51.7M -72.2%
  • ISHARES TR-$42.9M -67.6%
Show all 297 →

New Positions

  • BERKSHIRE HATHAWAY INC DEL$114.4M
  • INVESCO QQQ TR$103.8M
  • AMAZON COM INC$39.3M
  • ADVANCED MICRO DEVICES INC$35.5M
  • AUTOZONE INC$17.1M
Show all 666 →

Exited Positions

  • SELECT SECTOR SPDR TR$24.0M
  • LOCKHEED MARTIN CORP$13.4M
  • CIRCLE INTERNET GROUP INC$8.6M
  • UBER TECHNOLOGIES INC$6.1M
  • DIREXION SHS ETF TR$5.1M
Show all 292 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 SPDR S&P 500 ETF TR Put SPY 78462F103 $7.72B 5.56% 11,624,700 SH
2 SPDR S&P 500 ETF TR Call SPY 78462F103 $7.48B 5.39% 11,273,700 SH
3 INVESCO QQQ TR Call QQQ 46090E103 $6.74B 4.86% 11,263,800 SH
4 INVESCO QQQ TR Put QQQ 46090E103 $5.43B 3.91% 9,061,900 SH
5 TESLA INC Call TSLA 88160R101 $4.44B 3.20% 10,021,700 SH
6 NVIDIA CORPORATION Call NVDA 67066G104 $4.35B 3.14% 23,921,800 SH
7 META PLATFORMS INC Call META 30303M102 $3.22B 2.32% 4,335,500 SH
8 NVIDIA CORPORATION Put NVDA 67066G104 $2.61B 1.88% 14,335,200 SH
9 TESLA INC Put TSLA 88160R101 $2.46B 1.77% 5,555,500 SH
10 MICROSOFT CORP Call MSFT 594918104 $2.18B 1.57% 4,243,400 SH
11 STRATEGY INC Call MSTR 594972408 $1.86B 1.34% 5,711,200 SH
12 APPLE INC Call AAPL 037833100 $1.85B 1.33% 7,265,000 SH
13 SPDR GOLD TR Call GLD 78463V107 $1.84B 1.32% 5,212,400 SH
14 META PLATFORMS INC Put META 30303M102 $1.58B 1.14% 2,124,600 SH
15 AMAZON COM INC Call AMZN 023135106 $1.39B 1.00% 6,245,800 SH
16 MICROSOFT CORP Put MSFT 594918104 $1.28B 0.92% 2,481,400 SH
17 NETFLIX INC Put NFLX 64110L106 $1.26B 0.91% 1,041,600 SH
18 NETFLIX INC Call NFLX 64110L106 $1.15B 0.83% 956,100 SH
19 APPLE INC Put AAPL 037833100 $1.13B 0.82% 4,453,200 SH
20 PALANTIR TECHNOLOGIES INC Call PLTR 69608A108 $1.13B 0.81% 6,317,900 SH
21 STRATEGY INC Put MSTR 594972408 $1.07B 0.77% 3,285,200 SH
22 ALPHABET INC Call GOOGL 02079K305 $1.03B 0.74% 4,235,000 SH
23 BROADCOM INC Call AVGO 11135F101 $1.03B 0.74% 3,143,500 SH
24 SPDR DOW JONES INDL AVERAGE Put DIA 78467X109 $827.6M 0.60% 1,787,400 SH
25 UNITEDHEALTH GROUP INC Call UNH 91324P102 $815.5M 0.59% 2,362,400 SH
26 SPDR GOLD TR Put GLD 78463V107 $812.8M 0.59% 2,306,100 SH
27 BROADCOM INC Put AVGO 11135F101 $811.4M 0.58% 2,474,400 SH
28 AMAZON COM INC Put AMZN 023135106 $768.8M 0.55% 3,460,200 SH
29 COINBASE GLOBAL INC Call COIN 19260Q107 $757.9M 0.55% 2,269,200 SH
30 ISHARES TR Put IWM 464287655 $757.5M 0.55% 3,135,200 SH
31 ORACLE CORP Call ORCL 68389X105 $747.0M 0.54% 2,641,900 SH
32 BERKSHIRE HATHAWAY INC DEL Call BRK.B 084670702 $736.3M 0.53% 1,474,900 SH
33 ALPHABET INC Call GOOG 02079K107 $720.8M 0.52% 2,949,900 SH
34 GOLDMAN SACHS GROUP INC Call GS 38141G104 $717.4M 0.52% 892,200 SH
35 PALANTIR TECHNOLOGIES INC Put PLTR 69608A108 $706.3M 0.51% 3,949,100 SH
36 BOOKING HOLDINGS INC Put BKNG 09857L108 $700.9M 0.51% 128,500 SH
37 ELI LILLY & CO Put LLY 532457108 $675.6M 0.49% 929,900 SH
38 SPDR DOW JONES INDL AVERAGE Call DIA 78467X109 $674.9M 0.49% 1,457,600 SH
39 ELI LILLY & CO Call LLY 532457108 $665.8M 0.48% 916,400 SH
40 ADVANCED MICRO DEVICES INC Call AMD 007903107 $663.0M 0.48% 4,109,100 SH
41 APPLOVIN CORP Call APP 03831W108 $662.7M 0.48% 930,300 SH
42 SPDR S&P 500 ETF TR SPY 78462F103 $607.7M 0.44% 915,710 SH
43 ALIBABA GROUP HLDG LTD Call BABA 01609W102 $552.2M 0.40% 3,069,700 SH
44 BOOKING HOLDINGS INC Call BKNG 09857L108 $537.3M 0.39% 98,500 SH
45 GOLDMAN SACHS GROUP INC Put GS 38141G104 $531.9M 0.38% 661,500 SH
46 COSTCO WHSL CORP NEW Call COST 22160K105 $527.1M 0.38% 574,900 SH
47 COSTCO WHSL CORP NEW Put COST 22160K105 $526.4M 0.38% 574,100 SH
48 ISHARES TR Call IWM 464287655 $518.5M 0.37% 2,146,000 SH
49 UNITEDHEALTH GROUP INC Put UNH 91324P102 $512.8M 0.37% 1,485,600 SH
50 VANGUARD INDEX FDS Call VOO 922908363 $509.0M 0.37% 834,200 SH
Filing History
Period Filed AUM Holdings Accession
2025-09-30 2025-11-14 $138.73B 5,565 0000927337-25-000026
2025-06-30 2025-08-18 $99.35B 4,512 0000927337-25-000022