Filing Flows › 13F managers › Wolverine Trading, LLC
Wolverine Trading, LLC: 13F portfolio Q3 2025 and what copying it returned
Wolverine Trading, LLC's 13F for the quarter ended 2025-09-30 (filed Nov 14, 2025): 400 common-share positions, $138.7B reported. Copying each 13F the day after it was filed returned +17.4% from May 19, 2025 to Feb 20, 2026, against +16.0% for SPY.
Copying the 13F
Each 13F bought at the close of the first trading day after it was filed and held, drifting, until the next one; value-weighted over the common-share positions with a price (95.3% of the portfolio on average); 3 filings since May 15, 2025. Price returns for the clone and SPY alike (no dividends, no costs). A 13F lists only US long positions at quarter end, reported up to 45 days later.
Largest holdings (2025-09-30)
| Ticker | Company | Weight | Value | Change in the quarter |
|---|---|---|---|---|
| SPY | SPDR S&P 500 ETF Trust | 0.4% | $608M | -35.0% |
| NVDA | NVIDIA | 0.1% | $180M | +28.9% |
| IYR | iShares US Real Estate ETF | 0.1% | $161M | +25.5% |
| BRK-B | Berkshire Hathaway | 0.1% | $114M | new |
| QQQ | Invesco QQQ Trust Series 1 | 0.1% | $104M | new |
| XLF | SS Financial Select Sector | 0.1% | $89.1M | +471.5% |
| GOOG | Alphabet | 0.1% | $87.2M | +80.6% |
| XLI | SS Industrial Select Sector | 0.1% | $84.5M | unchanged |
| MSFT | Microsoft | 0.1% | $82.5M | -52.3% |
| XLY | SS Consumer Disc Select Sect | 0.1% | $77.7M | +21.7% |
| TSLA | Tesla | 0.1% | $77.0M | -46.0% |
| IVV | iShares Core S&P 500 ETF | 0.1% | $76.1M | +849.1% |
| CI | Cigna | 0.1% | $64.5M | +96.4% |
| DIA | SPDR DOW Jones Industrial Average ETF Trust | 0.1% | $64.3M | -74.9% |
| XLU | ST SR UTL SL SE SPDR Etf-Usd | 0.0% | $53.6M | +20.2% |
| WYNN | Wynn Resorts | 0.0% | $51.2M | +832.3% |
| META | Meta Platforms | 0.0% | $51.0M | +467.0% |
| VOO | Vanguard S&P 500 ETF | 0.0% | $50.2M | +45.1% |
| BKNG | Booking Holdings | 0.0% | $46.0M | +590.8% |
| TSM | Taiwan Semiconductor Manufacturing | 0.0% | $44.9M | +94.5% |
| INTC | Intel | 0.0% | $43.6M | +11.2% |
| NFLX | Netflix | 0.0% | $40.1M | +5328.4% |
| AMZN | Amazon.com | 0.0% | $39.3M | new |
| AMD | Advanced Micro Devices | 0.0% | $35.5M | new |
| MU | Micron Technology | 0.0% | $33.8M | +423.0% |
Biggest adds
- BRK-B new
- QQQ new
- AMZN new
- AMD new
- AZO new
- COIN new
- ANET new
- AAPL new
- TTWO +9152.1%
- CHTR +6719.2%
- NFLX +5328.4%
- FISV +4857.3%
Biggest cuts
- XLRE exit
- LMT exit
- CAT -98.2%
- MSTR -97.7%
- SCHW -96.7%
- ZS -94.9%
- C -92.6%
- PLTR -82.6%
- XLK -80.1%
- PYPL -76.4%
- DIA -74.9%
- MRVL -74.6%
Track record
Of 2 position changes scored in 2 separate decisions, 0.0% were on the right side of SPY over the next three months (Disclosures → Smart money).
Open in Disclosures → every quarter, the clone month by month, the smart-money record
Source: SEC Form 13F-HR, filer CIK 927337. Not investment advice.