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Wolverine Asset Management, LLC, together with Wolverine Holdings, LLC and managers Christopher L. Gust and Robert R. Bellick, reports beneficial ownership of 495,488 ordinary shares of Quartzsea Acquisition Corporation, representing 4.89% of the company’s outstanding ordinary shares.
All four reporting persons share voting and dispositive power over these 495,488 shares and report no sole voting or dispositive power. The ownership percentage is based on 10,134,518 Quartzsea ordinary shares outstanding, reflecting prior share redemptions disclosed by the company.
Key Figures
Beneficial ownership:495,488 ordinary sharesOwnership percentage:4.89%Adjusted shares outstanding:10,134,518 ordinary shares+2 more
5 metrics
Beneficial ownership495,488 ordinary sharesShares over which Wolverine Asset Management and related parties have voting and dispositive power
Ownership percentage4.89%Portion of Quartzsea Acquisition Corporation ordinary shares beneficially owned by each reporting person
Adjusted shares outstanding10,134,518 ordinary sharesQuartzsea shares outstanding used to calculate the 4.89% ownership
Shares outstanding pre-redemption11,409,900 ordinary sharesQuartzsea shares outstanding as of April 23, 2026, per its Form 10-Q
Redeemed shares1,275,382 ordinary sharesOrdinary shares redeemed at the June 23, 2026 shareholder meeting
Key Terms
beneficial owner, shared power to vote or direct the vote, dispositive power, CUSIP No.
4 terms
beneficial ownerfinancial
"WAM may be deemed the beneficial owner of 4.89% of the Issuer's outstanding Ordinary Shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
shared power to vote or direct the votefinancial
"WAM has shared power to vote or direct the vote of 495,488 of the Issuer's ordinary shares"
dispositive powerfinancial
"Each of Wolverine Holdings, Mr. Bellick, and Mr. Gust have voting and dispositive power over 495,488"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
CUSIP No.financial
"Title of class of securities: Ordinary Shares, par value $0.0001 per share (e) | CUSIP No.: G7314B104"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What percentage of Quartzsea Acquisition (QSEA) shares does Wolverine Asset Management report owning?
Wolverine Asset Management and related parties report beneficial ownership of 4.89% of Quartzsea Acquisition’s outstanding ordinary shares, equal to 495,488 shares. This percentage is disclosed for each of Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust and Robert R. Bellick.
How many Quartzsea Acquisition (QSEA) ordinary shares does Wolverine Asset Management beneficially own?
The group led by Wolverine Asset Management reports beneficial ownership of 495,488 ordinary shares of Quartzsea Acquisition Corporation. They state that each reporting person has voting and dispositive power, on a shared basis, over this same block of 495,488 ordinary shares.
Who are the reporting persons in the Quartzsea Acquisition (QSEA) Schedule 13G/A?
The reporting persons are Wolverine Asset Management, LLC, Wolverine Holdings, LLC, Christopher L. Gust, and Robert R. Bellick. Wolverine Asset Management is the investment adviser, and Wolverine Holdings is its sole member and manager, with Gust and Bellick serving as managers.
How is Wolverine Asset Management's 4.89% stake in Quartzsea (QSEA) calculated?
The 4.89% ownership is calculated by dividing 495,488 shares by 10,134,518 Quartzsea ordinary shares outstanding. That 10,134,518 figure reflects 11,409,900 shares outstanding as of April 23, 2026, minus 1,275,382 shares redeemed on June 23, 2026.
What voting and dispositive powers do Wolverine Asset Management and affiliates have over QSEA shares?
Each reporting person reports 0 sole voting and dispositive power and shared power over 495,488 ordinary shares. Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust, and Robert R. Bellick all share the power to vote and dispose of these Quartzsea shares.
Does Wolverine Asset Management report owning 5% or less of Quartzsea Acquisition (QSEA)?
Yes. The group reports beneficial ownership of 4.89% of Quartzsea Acquisition’s ordinary shares. The Schedule also marks the section titled 'Ownership of 5 percent or less of a class,' consistent with this sub‑5% reported stake.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Quartzsea Acquisition Corporation
(Name of Issuer)
Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G7314B104
(CUSIP Number)
06/30/2026
(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):
G7314B104
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
495,488.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
495,488.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
495,488.00
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)
4.89 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
G7314B104
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
495,488.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
495,488.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
495,488.00
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)
4.89 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
G7314B104
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
495,488.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
495,488.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
495,488.00
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)
4.89 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP Number(s):
G7314B104
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
495,488.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
495,488.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
495,488.00
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)
4.89 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Quartzsea Acquisition Corporation
(b)
Address of issuer's principal executive offices:
1185 Avenue of the Americas, Suite 304, New York, NY 10036
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, par value $0.0001 per share
(e)
CUSIP No.:
G7314B104
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 495,488 of the Issuer's ordinary shares. 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 495,488 of the Issuer's ordinary shares.
(b)
Percent of class:
WAM may be deemed the beneficial owner of 4.89% of the Issuer's outstanding Ordinary Shares and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 4.89% of the Issuer's outstanding Ordinary Shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 10,134,518 (11,409,900 - the number of shares outstanding as of April 23, 2026 according to the Issuer's 10-Q filed April 23, 2026, minus 1,275,382 - the number of ordinary shares redeemed at the Issuer's shareholders' meeting on June 23, 2026 according to the Issuer's 8-K filed June 24, 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 495,488 of the Issuer's ordinary shares, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to vote or direct the vote of 495,488 of the Issuer's ordinary shares, 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 shared power to dispose, or direct the disposition, of 4.89% of the Issuer's ordinary shares, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to dispose, or direct the disposition, of 4.89% of the Issuer's ordinary shares, 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.
