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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
+18%
1 Year Est. Return
+131.08%
3 Year Est. Return
+497.29%
5 Year Est. Return
+787.25%
10 Year Est. Return
–
AUM
$86.9B
AUM Growth
+$1.37B
Cap. Flow
-$8.02B
Cap. Flow %
-9.24%
Top 10 Hldgs %
82.83%
Holding
1,210
New
406
Increased
208
Reduced
217
Closed
323

Top Buys

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$139M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$108M
3
IBIT icon
iShares Bitcoin Trust
IBIT
+$48.6M
4
AVGO icon
Broadcom
AVGO
+$43.8M
5
QQQ icon
Invesco QQQ Trust
QQQ
+$24.2M

Top Sells

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$316M
2
SMH icon
VanEck Semiconductor ETF
SMH
+$112M
3
GLD icon
SPDR Gold Trust
GLD
+$35.2M
4
NVDA icon
NVIDIA
NVDA
+$30.6M
5
SMCI icon
Super Micro Computer
SMCI
+$22.1M

Sector Composition

Rank Sector Weight
1 Technology 0.5%
2 Consumer Discretionary 0.25%
3 Communication Services 0.02%
4 Industrials 0.01%
5 Financials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SMLL
251
CALL
Harbor Active Small Cap ETF
SMLL
$14.3M
$520K ﹤0.01%
+24,400
New +$531K
NFLU
252
PUT
T-Rex 2X Long NFLX Daily Target ETF
NFLU
$54.1M
$517K ﹤0.01%
9,100
+5,400
+146% +$325K
DHR icon
253
PUT
Danaher
DHR
$139B
$514K ﹤0.01%
2,200
+1,100
+100% +$219K
PSI icon
254
CALL
Invesco Semiconductors ETF
PSI
$2.34B
$513K ﹤0.01%
7,300
+1,700
+30% +$108K
NVDU icon
255
Direxion Daily NVDA Bull 2X ETF
NVDU
$567M
$506K ﹤0.01%
3,859
-6,143
-61% -$725K
OND icon
256
CALL
ProShares On-Demand ETF
OND
$3.48M
$506K ﹤0.01%
10,500
-900
-8% -$40.2K
AAAU icon
257
Goldman Sachs Physical Gold ETF Shares
AAAU
$2.46B
$502K ﹤0.01%
13,177
+5,854
+80% +$200K
SOXS icon
258
Direxion Daily Semiconductor Bear 3X ETF
SOXS
$1.33B
$500K ﹤0.01%
484
+105
+28% +$145K
SOXL icon
259
Direxion Daily Semiconductor Bull 3X ETF
SOXL
$19.8B
$499K ﹤0.01%
14,335
-9,496
-40% -$264K
TIPT icon
260
Tiptree Inc
TIPT
$658M
$499K ﹤0.01%
+26,021
New +$580K
QUBX
261
PUT
Tradr 2X Long QUBT Daily ETF
QUBX
$27M
$499K ﹤0.01%
+4,700
New +$503K
TIPT icon
262
PUT
Tiptree Inc
TIPT
$658M
$498K ﹤0.01%
+26,000
New +$579K
BKKT icon
263
CALL
Bakkt Inc
BKKT
$329M
$495K ﹤0.01%
91,400
+20,100
+28% +$277K
XRPT
264
PUT
Volatility Shares Trust XRP 2X ETF
XRPT
$53.6M
$493K ﹤0.01%
+1,590
New +$597K
MRAL
265
PUT
GraniteShares 2x Long MARA Daily ETF
MRAL
$46M
$492K ﹤0.01%
+2,130
New +$456K
VTWG icon
266
PUT
Vanguard Russell 2000 Growth ETF
VTWG
$1.5B
$491K ﹤0.01%
+2,100
New +$463K
CRCL
267
PUT
Circle Internet Group
CRCL
$15B
$491K ﹤0.01%
3,700
-9,700
-72% -$1.53M
EFA icon
268
iShares MSCI EAFE ETF
EFA
$78.4B
$489K ﹤0.01%
5,241
-52,514
-91% -$4.77M
SLON
269
PUT
ProShares Ultra Solana ETF
SLON
$16.2M
$486K ﹤0.01%
+1,880
New +$483K
KORU icon
270
CALL
Direxion Daily MSCI South Korea Bull 3X ETF
KORU
$1.32B
$486K ﹤0.01%
92,000
-90,000
-49% -$394K
ASHR icon
271
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.55B
$485K ﹤0.01%
+14,695
New +$442K
ION icon
272
ProShares S&P Global Core Battery Metals ETF
ION
$11.8M
$480K ﹤0.01%
+12,324
New +$417K
DAT icon
273
CALL
ProShares Big Data Refiners ETF
DAT
$5.73M
$479K ﹤0.01%
+10,000
New +$463K
ILMN icon
274
CALL
Illumina
ILMN
$30B
$478K ﹤0.01%
4,600
+200
+5% +$19.8K
J icon
275
CALL
Jacobs Solutions
J
$16.4B
$470K ﹤0.01%
2,900
+1,500
+107% +$216K
9 10
11
12 13

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Focus Partners Wealth
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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 Q3 2025 Portfolio in Review

As of Q3 2025, Belvedere Trading held 1,210 positions worth $86.9B, up 1.6% from $85.5B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Belvedere Trading withdrew a net $8.02B in Q3 2025, closing 323 positions and reducing 217 holdings. Its most notable exit was VanEck Semiconductor ETF, an estimated $112M position sold in full.

By sector, the portfolio is most concentrated in Technology at 0.5% of assets, down from 0.85% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Belvedere Trading opened a new position in Palantir worth $10.9M.

  • Belvedere Trading's largest Q3 2025 buy was Palantir: 59,574 shares worth $10.9M.
  • Belvedere Trading added most to Tesla in Q3 2025, an estimated $139M increase.
  • Belvedere Trading's biggest Q3 2025 reduction was Strategy Inc, cutting an estimated $316M.
  • Belvedere Trading fully exited VanEck Semiconductor ETF in Q3 2025, selling an estimated $112M.
  • Belvedere Trading's ten largest holdings make up 83% of its $86.9B portfolio in Q3 2025.
  • Belvedere Trading opened 406 new positions and closed 323 in Q3 2025.
  • Belvedere Trading's portfolio value rose 1.6% quarter-over-quarter to $86.9B.

Based on Belvedere Trading's 13F filing for Q3 2025, filed 27 Oct 2025.