Wolverine group discloses 3.9% DT Cloud Star (DTSQ) ownership

Rhea-AI Filing Summary

DT Cloud Star Acquisition Corporation received an updated ownership report from Wolverine Asset Management and related parties. They report beneficial ownership of 140,506 ordinary shares of the issuer’s $0.0001 par value ordinary shares, representing 3.9% of the outstanding class.

The filing, dated as of an event on 12/31/2025, lists Wolverine Asset Management, LLC, Wolverine Holdings, LLC, and individuals Christopher L. Gust and Robert R. Bellick as reporting persons. They share voting and dispositive power over these shares and certify the position is held in the ordinary course of business, not to change or influence control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

DT Cloud Star Acquisition Corporation

(Name of Issuer)

Ordinary Shares, $0.0001 par value

(Title of Class of Securities)

G2853N106

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. G2853N106

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 140,506.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 140,506.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

140,506.00

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)

3.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. G2853N106

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 140,506.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 140,506.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

140,506.00

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)

3.9 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. G2853N106

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 140,506.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 140,506.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

140,506.00

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)

3.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. G2853N106

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 140,506.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 140,506.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

140,506.00

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)

3.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DT Cloud Star Acquisition Corporation
(b)	Address of issuer's principal executive offices: Office 51, 10th Fl, 31 Hudson Yards, New York, NY 10001
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: Ordinary Shares, $0.0001 par value
(e)	CUSIP No.: G2853N106
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 140,506 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 140,506 ordinary shares of the Issuer.
(b)	Percent of class: WAM may be deemed the beneficial owner of 3.90% of the Issuer's outstanding Ordinary Shares and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 3.90% of the Issuer's outstanding Ordinary Shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 3,603,409 (the number of shares outstanding as of 8/11/2025 according to the Issuer's 10-Q for the quarter ending 6/30/2025 minus the number of shares redeemed at a shareholders' meeting according to the Issuer's 8-K/A filed 10/29/2025).
(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 140,506 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 140,506 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 140,506 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 140,506 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.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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.

Wolverine Asset Management, LLC

Signature:	/s/ Kenneth L. Nadel
Name/Title:	Kenneth L. Nadel, Chief Operating Officer
Date:	02/04/2026

Wolverine Holdings, LLC

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust, Manager
Date:	02/04/2026

Christopher L. Gust

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust
Date:	02/04/2026

Robert R. Bellick

Signature:	/s/ Robert R. Bellick
Name/Title:	Robert R. Bellick
Date:	02/04/2026

FAQ

What did Wolverine Asset Management disclose about DTSQ in this Schedule 13G/A?

Wolverine Asset Management and related parties disclosed beneficial ownership of DT Cloud Star Acquisition Corporation’s ordinary shares. They reported holding 140,506 ordinary shares, reflecting 3.9% of the outstanding class as of the referenced date and based on the issuer’s disclosed share count.

How many DT Cloud Star (DTSQ) shares do the reporting persons beneficially own?

The reporting persons beneficially own 140,506 ordinary shares of DT Cloud Star Acquisition Corporation. This stake is calculated against 3,603,409 shares outstanding, as referenced from the issuer’s filings, and represents 3.9% of the company’s outstanding ordinary shares at the relevant measurement date.

What percentage of DT Cloud Star’s outstanding shares is owned by Wolverine Asset Management?

Wolverine Asset Management and its related reporting persons may be deemed to beneficially own 3.9% of DT Cloud Star’s outstanding ordinary shares. This percentage is based on 140,506 shares compared to 3,603,409 shares outstanding, as derived from the issuer’s 10-Q and 8-K/A disclosures.

Who are the reporting persons in the DT Cloud Star (DTSQ) Schedule 13G/A filing?

The reporting persons are Wolverine Asset Management, LLC, Wolverine Holdings, LLC, and individuals Christopher L. Gust and Robert R. Bellick. Wolverine Asset Management is an Illinois investment adviser, Wolverine Holdings is a Delaware entity, and Gust and Bellick are U.S. citizens associated with managing these entities.

What voting and dispositive powers do the Wolverine entities have over DTSQ shares?

The reporting persons report zero sole voting and dispositive power but shared power over 140,506 ordinary shares. Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust, and Robert R. Bellick each have shared authority to vote and dispose of these DT Cloud Star Acquisition Corporation ordinary shares.

Does the Wolverine group seek control of DT Cloud Star Acquisition Corporation?

The reporting persons certify the securities were acquired and are held in the ordinary course of business. They state the holdings were not acquired and are not held to change or influence control of DT Cloud Star Acquisition Corporation, other than activities solely related to certain nomination provisions.