Stonebridge Acquisition II Corporation reports a Schedule 13G/A disclosing that Wolverine Asset Management, LLC and related entities/individuals beneficially own 401,013 Class A ordinary shares. The filing states this equals 6.54% of the outstanding Class A shares, using 6,133,750 shares outstanding as of March 18, 2026. The filing explains shared voting and dispositive power across Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust, and Robert R. Bellick, and notes Wolverine Flagship Fund Trading Limited has the right to receive dividends or sale proceeds for the covered shares.
Positive
None.
Negative
None.
Insights
13G/A shows an institutional holder crossing the 5% disclosure threshold with shared control.
The filing documents that Wolverine Asset Management and related parties have shared voting and dispositive power over 401,013 shares (6.54%) as calculated against 6,133,750 shares outstanding as of March 18, 2026. This is a standard beneficial‑ownership disclosure under Section 13.
Key dependencies include whether holdings change or if the reporting persons convert this passive position to an active intent to influence; subsequent amendments or Schedule 13D would reflect any shift. Future SEC filings will show changes in percentage or voting arrangements.
Key Figures
Reported shares beneficially owned:401,013 sharesPercent of class:6.54%Shares outstanding used for calculation:6,133,750 shares
3 metrics
Reported shares beneficially owned401,013 sharesClass A ordinary shares held by WAM and related persons
Percent of class6.54%Percent of Class A outstanding calculated vs. 6,133,750 shares
Shares outstanding used for calculation6,133,750 sharesOutstanding Class A shares as of March 18, 2026 (per Issuer 10-K)
"WAM is an investment adviser and has voting and dispositive power over 401,013"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
shared dispositive powerregulatory
"Shared power to dispose or direct the disposition of 401,013 Class A ordinary shares"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Stonebridge Acquisition II Corporation
(Name of Issuer)
Class A Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G850961080
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G850961080
1
Names of Reporting Persons
Wolverine Asset Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ILLINOIS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
401,013.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
401,013.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
401,013.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.54 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
G850961080
1
Names of Reporting Persons
Wolverine Holdings, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
401,013.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
401,013.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
401,013.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.54 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
G850961080
1
Names of Reporting Persons
Christopher L. Gust
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ILLINOIS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
401,013.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
401,013.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
401,013.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.54 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP Number(s):
G850961080
1
Names of Reporting Persons
Robert R. Bellick
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ILLINOIS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
401,013.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
401,013.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
401,013.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.54 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Stonebridge Acquisition II Corporation
(b)
Address of issuer's principal executive offices:
One World Trade Center, Suite 8500, New York, NY 10007
Item 2.
(a)
Name of person filing:
Wolverine Asset Management, LLC
Wolverine Holdings, LLC
Christopher L. Gust
Robert R. Bellick
(b)
Address or principal business office or, if none, residence:
c/o Wolverine Asset Management, LLC
175 West Jackson Boulevard, Suite 340
Chicago, IL 60604
(c)
Citizenship:
Wolverine Asset Management, LLC - Illinois
Wolverine Holdings, LLC - Delaware
Christopher L. Gust - U.S. Citizen
Robert R. Bellick - U.S. Citizen
(d)
Title of class of securities:
Class A Ordinary Shares, par value $0.0001 per share
(e)
CUSIP No.:
G850961080
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Wolverine Asset Management, LLC ("WAM") is an investment adviser and has voting and dispositive power over 401,013 Class A ordinary shares of the Issuer. The sole member and manager of WAM is Wolverine Holdings, LLC ("Wolverine Holdings"). Robert R. Bellick and Christopher L. Gust, may be deemed to control Wolverine Holdings in their roles as Managers of Wolverine Holdings. Each of Wolverine Holdings, Mr. Bellick, and Mr. Gust have voting and dispositive power over 401,013 Class A ordinary shares of the Issuer.
(b)
Percent of class:
WAM may be deemed the beneficial owner of 6.54% of the Issuer's outstanding Class A ordinary shares and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 6.54% of the Issuer's outstanding Class A Ordinary Shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 6,133,750 (the number of shares outstanding as of March 18, 2026 according to the Issuer's 10-K filed March 18, 2026).
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
WAM has shared power to vote or direct the vote of 401,013 Class A ordinary shares of the Issuer, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to vote or direct the vote of 401,013 Class A ordinary shares of the Issuer, in each case as set forth in Item4(a) above.
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
WAM has shares power to dispose or direct the disposition of 401,013 Class A ordinary shares of the Issuer, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to dispose or direct the disposition of 401,013 Class A ordinary shares of the Issuer, in each case as set forth in Item4(a) above.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Wolverine Flagship Fund Trading Limited is known to have the right to receive the receipt of dividends from, or the proceeds from the sale of, the shares of the Issuer's Class A Ordinary Shares covered by this statement that may be deemed to be beneficially owned by WAM.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Wolverine Asset Management hold in Stonebridge Acquisition II (APAC)?
Wolverine Asset Management is reported to beneficially own 401,013 shares of Class A stock. This equals 6.54% of the Class A shares based on 6,133,750 shares outstanding as of March 18, 2026 per the filing.
Who else is named with shared control over the 401,013 shares?
The filing names Wolverine Holdings, LLC, Christopher L. Gust, and Robert R. Bellick as having shared voting and dispositive power. Each is reported as having control over the same 401,013 shares.
Does the filing indicate Wolverine will sell or buy more shares?
No transaction intent is stated; the Schedule 13G/A discloses beneficial ownership and shared control. It does not describe planned purchases or sales or any change in voting intentions.
How was the 6.54% ownership percentage calculated?
The percentage was calculated by dividing 401,013 shares by 6,133,750 shares outstanding, which the filing attributes to the Issuer's 10‑K as of March 18, 2026.
Who receives dividends or sale proceeds for these shares?
The filing states Wolverine Flagship Fund Trading Limited is known to have the right to receive dividends or proceeds related to the shares reported as beneficially owned by WAM.
