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Belvedere Trading

Belvedere Trading Portfolio holdings

AUM $87.6B
1-Year Est. Return 131.08%
This Fund
S&P 500
This Quarter Est. Return
+0.72%
1 Year Est. Return
+131.08%
3 Year Est. Return
+497.29%
5 Year Est. Return
+787.25%
10 Year Est. Return
–
AUM
$93.1B
AUM Growth
+$6.26B
Cap. Flow
-$9.32B
Cap. Flow %
-10%
Top 10 Hldgs %
81.34%
Holding
1,246
New
362
Increased
207
Reduced
237
Closed
397

Top Buys

Rank Stock Value
1
SMCI icon
Super Micro Computer
SMCI
+$32.9M
2
GLD icon
SPDR Gold Trust
GLD
+$22.2M
3
MSTR icon
Strategy Inc
MSTR
+$17.7M
4
WDC icon
Western Digital
WDC
+$11.4M
5
PLTR icon
Palantir
PLTR
+$9.83M

Top Sells

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$188M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$171M
3
NVDA icon
NVIDIA
NVDA
+$145M
4
AVGO icon
Broadcom
AVGO
+$96.9M
5
IBIT icon
iShares Bitcoin Trust
IBIT
+$92.3M

Sector Composition

Rank Sector Weight
1 Technology 0.23%
2 Consumer Discretionary 0.01%
3 Industrials 0.01%
4 Financials 0.01%
5 Healthcare 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPXL icon
226
Direxion Daily S&P 500 Bull 3x ETF
SPXL
$7B
$743K ﹤0.01%
+3,367
New +$732K
MQQQ
227
Tradr 2X Long Innovation 100 Monthly ETF
MQQQ
$208M
$732K ﹤0.01%
+4,034
New +$749K
ITA icon
228
iShares US Aerospace & Defense ETF
ITA
$14.3B
$730K ﹤0.01%
3,400
+3,337
+5,297% +$699K
VBK icon
229
CALL
Vanguard Morningstar Small-Cap Growth ETF
VBK
$23.5B
$725K ﹤0.01%
2,400
+900
+60% +$272K
NFLU
230
PUT
T-Rex 2X Long NFLX Daily Target ETF
NFLU
$53.2M
$723K ﹤0.01%
22,300
+13,200
+145% +$591K
AVL
231
CALL
Direxion Daily AVGO Bull 2X ETF
AVL
$194M
$723K ﹤0.01%
16,400
+13,600
+486% +$775K
CONI
232
CALL
GraniteShares 2x Short COIN Daily ETF
CONI
$13.4M
$716K ﹤0.01%
16,100
-31,200
-66% -$1.47M
BNT
233
PUT
Brookfield Wealth Solutions
BNT
$12B
$705K ﹤0.01%
+15,000
New +$684K
IYM icon
234
PUT
iShares US Basic Materials ETF
IYM
$1.18B
$693K ﹤0.01%
+4,500
New +$666K
VGT icon
235
CALL
Vanguard Information Technology ETF
VGT
$141B
$678K ﹤0.01%
7,200
+3,200
+80% +$304K
CRWV
236
CoreWeave
CRWV
$45.7B
$677K ﹤0.01%
+9,457
New +$959K
GSAT icon
237
CALL
Globalstar
GSAT
$10.8B
$663K ﹤0.01%
120,600
+106,400
+749% +$5.88M
PWB icon
238
CALL
Invesco Large Cap Growth ETF
PWB
$2.33B
$661K ﹤0.01%
+5,200
New +$661K
ASTX
239
Tradr 2X Long ASTS Daily ETF
ASTX
$350M
$659K ﹤0.01%
16,095
+15,595
+3,119% +$762K
OPEN icon
240
CALL
Opendoor
OPEN
$3.84B
$655K ﹤0.01%
111,600
+97,960
+718% +$702K
LIT icon
241
CALL
Global X Lithium & Battery Tech ETF
LIT
$1.5B
$649K ﹤0.01%
+10,000
New +$616K
SPUU icon
242
CALL
Direxion Daily S&P 500 Bull 2X ETF
SPUU
$272M
$644K ﹤0.01%
3,500
-1,600
-31% -$293K
NUKZ icon
243
Range Nuclear Renaissance Index ETF
NUKZ
$774M
$639K ﹤0.01%
+10,061
New +$678K
SOFX
244
PUT
Defiance Daily Target 2X Long SOFI ETF
SOFX
$81.2M
$636K ﹤0.01%
22,400
-44,600
-67% -$1.75M
URA icon
245
Global X Uranium ETF
URA
$5.65B
$634K ﹤0.01%
14,828
+404
+3% +$19.5K
INTW
246
CALL
GraniteShares 2x Long INTC Daily ETF
INTW
$280M
$613K ﹤0.01%
113,600
-78,400
-41% -$464K
BABX icon
247
CALL
GraniteShares ETF Trust GraniteShares 2x Long BABA Daily ETF
BABX
$112M
$613K ﹤0.01%
17,000
-17,800
-51% -$817K
CVX icon
248
CALL
Chevron
CVX
$385B
$609K ﹤0.01%
+3,900
New +$594K
FLG
249
CALL
Flagstar Bank National Association
FLG
$5.95B
$607K ﹤0.01%
144,900
+3,400
+2% +$40.6K
ECH icon
250
CALL
iShares MSCI Chile ETF
ECH
$1.03B
$606K ﹤0.01%
+15,000
New +$544K
8 9
10
11 12

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Qube Research & Technologies (QRT)
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Squarepoint
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Sanders Capital
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Mackenzie Financial
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Belvedere Trading's Q4 2025 Portfolio in Review

As of Q4 2025, Belvedere Trading held 1,246 positions worth $93.1B, up 7.2% from $86.9B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Belvedere Trading withdrew a net $9.32B in Q4 2025, closing 397 positions and reducing 237 holdings. Its most notable exit was Tesla, an estimated $188M position sold in full.

By sector, the portfolio is most concentrated in Technology at 0.23% of assets, down from 0.5% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Belvedere Trading opened a new position in SPDR Gold Trust worth $23M.

  • Belvedere Trading's largest Q4 2025 buy was SPDR Gold Trust: 58,131 shares worth $23M.
  • Belvedere Trading added most to Super Micro Computer in Q4 2025, an estimated $32.9M increase.
  • Belvedere Trading's biggest Q4 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $171M.
  • Belvedere Trading fully exited Tesla in Q4 2025, selling an estimated $188M.
  • Belvedere Trading's ten largest holdings make up 81% of its $93.1B portfolio in Q4 2025.
  • Belvedere Trading opened 362 new positions and closed 397 in Q4 2025.
  • Belvedere Trading's portfolio value rose 7.2% quarter-over-quarter to $93.1B.

Based on Belvedere Trading's 13F filing for Q4 2025, filed 10 Feb 2026.