Wolverine Asset Management LLC and related entities report joint ownership of 88,000 Class A ordinary shares of Integrated Wellness Acquisition Corp, representing 7.42% of the outstanding Class A shares. The filing identifies Wolverine Asset Management, Wolverine Holdings, Wolverine Trading Partners, and individuals Christopher L. Gust and Robert R. Bellick as reporting persons with shared voting and dispositive power over the 88,000 shares.
The percentage was calculated using 1,185,481 Class A shares outstanding as of September 5, 2025. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing control. Wolverine Flagship Fund Trading Limited is disclosed as having the right to receive dividends or sale proceeds related to these shares.
Positive
Transparent disclosure of shared voting and dispositive power over 88,000 shares
Clear certification that the shares are held in the ordinary course and not to influence control
Negative
Stake size of 7.42% is significant and could attract investor attention
Wolverine Flagship Fund Trading Limited is disclosed as having rights to dividends or proceeds, adding complexity to beneficial ownership
Insights
Holdings equal a material passive stake but below typical control thresholds.
The group reports shared voting and dispositive power over 88,000 shares, or 7.42% of the Class A float calculated from 1,185,481 outstanding shares as of September 5, 2025. That level is meaningful for disclosure and monitoring but is below common control thresholds that would typically indicate a takeover intent.
Key dependencies include any future purchases or dispositions that would change the 7.42% stake and whether any coordinated actions among the reporting persons emerge; monitor filings for changes within a short-term horizon (weeks to months).
The statement certifies the securities were acquired in the ordinary course and not to influence control, consistent with Schedule 13G treatment. It identifies related parties and an entity with rights to dividends or proceeds, which supports transparency around beneficial ownership.
Material next steps to watch include any subsequent amendments or a shift to Schedule 13D if the purpose or level of ownership changes; such changes typically must be reported promptly under SEC rules.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Integrated Wellness Acquisition Corp
(Name of Issuer)
Class A Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G4828B100
(CUSIP Number)
09/30/2025
(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.
G4828B100
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
88,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
88,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
88,000.00
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)
7.42 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
G4828B100
1
Names of Reporting Persons
Wolverine Trading Partners, Inc.
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
88,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
88,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
88,000.00
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)
7.42 %
12
Type of Reporting Person (See Instructions)
CO, HC
SCHEDULE 13G
CUSIP No.
G4828B100
1
Names of Reporting Persons
Wolverine Holdings, L.P.
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
88,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
88,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
88,000.00
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)
7.42 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP No.
G4828B100
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
88,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
88,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
88,000.00
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)
7.42 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
CUSIP No.
G4828B100
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
88,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
88,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
88,000.00
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)
7.42 %
12
Type of Reporting Person (See Instructions)
IN, HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Integrated Wellness Acquisition Corp
(b)
Address of issuer's principal executive offices:
1441 Broadway, 6th Floor, New York, New York, 10018
Item 2.
(a)
Name of person filing:
Wolverine Asset Management, LLC
Wolverine Holdings, L.P.
Wolverine Trading Partners, Inc.
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, L.P. - Illinois
Wolverine Trading Partners, Inc. - Illinois
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.:
G4828B100
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 manager and has voting and dispositive power over 88,000 Class A ordinary shares of the Issuer. The sole member and manager of WAM is Wolverine Holdings, L.P. ("Wolverine Holdings"). Robert R. Bellick and Christopher L. Gust may be deemed to control Wolverine Trading Partners, Inc. ("WTP"), the general partner of Wolverine Holdings.
(b)
Percent of class:
7.42%. WAM may be deemed the beneficial owner of 7.42% of the Issuer's Class A ordinary shares, and each of Wolverine Holdings, WTP, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 7.42% of the Issuer's outstanding Ordinary Shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 1,185,481 (the number of Class A ordinary shares outstanding as of September 5, 2025 according to the Issuer's Form 10-Q filed September 5, 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:
88,000
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
88,000
Item 5.
Ownership of 5 Percent or Less of a Class.
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 Class A ordinary shares covered by this statement which 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 report in Integrated Wellness Acquisition Corp (WELNF)?
The filing reports beneficial ownership of 88,000 shares, equal to 7.42% of Class A ordinary shares.
How was the 7.42% ownership percentage calculated in the filing?
The percentage uses 1,185,481 Class A ordinary shares outstanding as of September 5, 2025.
Who are the reporting persons named in the Schedule 13G for WELNF?
Reporting persons are Wolverine Asset Management LLC, Wolverine Holdings, L.P., Wolverine Trading Partners, Inc., and individuals Christopher L. Gust and Robert R. Bellick.
Does the filing indicate intent to change control of the issuer?
No. The signatories certify the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.
Is any other party entitled to dividends or sale proceeds for these shares?
Yes. The filing states that Wolverine Flagship Fund Trading Limited is known to have the right to receive dividends or proceeds related to the covered shares.
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