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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
CWAN
301
PUT
DELISTED
Clearwater Analytics
CWAN
$419K ﹤0.01%
+49,500
New +$1M
JPO
302
PUT
YieldMax JP Option Income Strategy ETF
JPO
$50.6M
$418K ﹤0.01%
+24,100
New +$407K
DBJP icon
303
CALL
Xtrackers MSCI Japan Hedged Equity ETF
DBJP
$673M
$416K ﹤0.01%
+4,900
New +$398K
EWG icon
304
PUT
iShares MSCI Germany ETF
EWG
$1.6B
$416K ﹤0.01%
10,000
-2,000
-17% -$83.8K
IWMY icon
305
Defiance R2000 Weekly Distribution ETF
IWMY
$97.2M
$416K ﹤0.01%
+18,068
New +$423K
XSW icon
306
CALL
State Street SPDR S&P Software & Services ETF
XSW
$465M
$415K ﹤0.01%
+2,100
New +$401K
UBRL
307
CALL
GraniteShares 2x Long UBER Daily ETF
UBRL
$20.1M
$414K ﹤0.01%
11,700
-12,300
-51% -$405K
AAPX icon
308
T-Rex 2X Long Apple Daily Target ETF
AAPX
$8.47M
$412K ﹤0.01%
+14,694
New +$332K
K
309
PUT
DELISTED
Kellanova
K
$410K ﹤0.01%
5,000
– –
SGDM icon
310
CALL
Sprott Gold Miners ETF
SGDM
$558M
$409K ﹤0.01%
6,600
-1,900
-22% -$96.6K
CWAN
311
DELISTED
Clearwater Analytics
CWAN
$408K ﹤0.01%
+22,663
New +$459K
AVUV icon
312
CALL
Avantis US Small Cap Value ETF
AVUV
$30.9B
$408K ﹤0.01%
4,100
+1,800
+78% +$174K
HOOW
313
PUT
Roundhill HOOD WeeklyPay ETF
HOOW
$129M
$405K ﹤0.01%
+5,000
New +$338K
NEBX
314
PUT
Tradr 2X Long NBIS Daily ETF
NEBX
$236M
$404K ﹤0.01%
+18,900
New +$330K
SPYI icon
315
NEOS S&P 500 High Income ETF
SPYI
$11.1B
$403K ﹤0.01%
+7,701
New +$396K
CONI
316
CALL
GraniteShares 2x Short COIN Daily ETF
CONI
$14.2M
$398K ﹤0.01%
47,300
+44,085
+1,371% +$2.06M
CEG icon
317
CALL
Constellation Energy
CEG
$97.7B
$395K ﹤0.01%
+1,200
New +$387K
RING icon
318
CALL
iShares MSCI Global Gold Miners ETF
RING
$2.16B
$395K ﹤0.01%
+6,100
New +$312K
LAC
319
Lithium Americas
LAC
$1.05B
$394K ﹤0.01%
+69,033
New +$218K
VONE icon
320
CALL
Vanguard Russell 1000 ETF
VONE
$8.39B
$393K ﹤0.01%
1,300
-300
-19% -$87.4K
SHLD icon
321
Global X Defense Tech ETF
SHLD
$7.15B
$393K ﹤0.01%
+5,588
New +$351K
TINY icon
322
CALL
ProShares Nanotechnology ETF
TINY
$17.4M
$391K ﹤0.01%
+7,700
New +$352K
ASTX
323
CALL
Tradr 2X Long ASTS Daily ETF
ASTX
$344M
$391K ﹤0.01%
+14,600
New +$423K
SARK icon
324
CALL
Tradr 2X Long Innovation ETFShort Innovation Daily ETF
SARK
$45.2M
$390K ﹤0.01%
13,600
-2,200
-14% -$72K
COF icon
325
CALL
Capital One
COF
$134B
$390K ﹤0.01%
1,800
+1,500
+500% +$328K
11 12
13
14 15

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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.