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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
SQQQ icon
301
ProShares UltraPro Short QQQ
SQQQ
$1.89B
$454K ﹤0.01%
+6,633
New +$469K
SOLT
302
CALL
2x Solana ETF
SOLT
$115M
$454K ﹤0.01%
3,560
-2,605
-42% -$674K
PPA icon
303
CALL
Invesco Aerospace & Defense ETF
PPA
$8.48B
$454K ﹤0.01%
2,900
+700
+32% +$108K
INTW
304
GraniteShares 2x Long INTC Daily ETF
INTW
$281M
$453K ﹤0.01%
84,000
+70,200
+509% +$415K
ETHT
305
CALL
ProShares Ultra Ether ETF
ETHT
$179M
$451K ﹤0.01%
12,000
+7,900
+193% +$463K
FBL icon
306
PUT
GraniteShares ETF Trust GraniteShares 2x Long META Daily ETF
FBL
$177M
$449K ﹤0.01%
+13,800
New +$483K
INBX icon
307
PUT
Inhibrx
INBX
$1.21B
$435K ﹤0.01%
5,500
+4,000
+267% +$273K
NVDD icon
308
PUT
Direxion Daily NVDA Bear 1X ETF
NVDD
$19.5M
$433K ﹤0.01%
+11,300
New +$440K
PLTU
309
Direxion Daily PLTR Bull 2X ETF
PLTU
$388M
$429K ﹤0.01%
+5,837
New +$537K
SGDJ icon
310
CALL
Sprott Junior Gold Miners ETF
SGDJ
$278M
$429K ﹤0.01%
5,100
+400
+9% +$31.4K
URNJ icon
311
CALL
Sprott Junior Uranium Miners ETF
URNJ
$327M
$428K ﹤0.01%
+17,000
New +$468K
FAZ
312
DELISTED
Direxion Daily Financial Bear 3x ETF
FAZ
$427K ﹤0.01%
+11,110
New +$467K
PSI icon
313
CALL
Invesco Semiconductors ETF
PSI
$2.34B
$426K ﹤0.01%
5,400
-1,900
-26% -$145K
CEG icon
314
CALL
Constellation Energy
CEG
$97.7B
$424K ﹤0.01%
1,200
– –
HDB icon
315
CALL
HDFC Bank
HDB
$124B
$417K ﹤0.01%
5,700
+100
+2% +$3.6K
MGK icon
316
PUT
Vanguard Morningstar Mega Cap Growth ETF
MGK
$33.2B
$413K ﹤0.01%
+5,000
New +$411K
OND icon
317
CALL
ProShares On-Demand ETF
OND
$3.48M
$411K ﹤0.01%
10,000
-500
-5% -$22K
APP icon
318
CALL
Applovin
APP
$136B
$404K ﹤0.01%
+600
New +$378K
GEVX
319
Tradr 2X Long GEV Daily ETF
GEVX
$34.4M
$404K ﹤0.01%
39,066
+10,644
+37% +$102K
RKLX
320
PUT
Defiance Daily Target 2X Long RKLB ETF
RKLX
$189M
$398K ﹤0.01%
+10,000
New +$367K
AIQ icon
321
PUT
Global X Artificial Intelligence & Technology ETF
AIQ
$10.5B
$392K ﹤0.01%
+7,700
New +$391K
RKT icon
322
Rocket Companies
RKT
$38.7B
$387K ﹤0.01%
20,002
+16,178
+423% +$289K
JPO
323
PUT
YieldMax JP Option Income Strategy ETF
JPO
$50.6M
$386K ﹤0.01%
24,100
– –
NVDU icon
324
Direxion Daily NVDA Bull 2X ETF
NVDU
$567M
$385K ﹤0.01%
3,268
-591
-15% -$74.2K
FRGE
325
CALL
DELISTED
Forge Global Holdings
FRGE
$374K ﹤0.01%
+8,400
New +$284K
11 12
13
14 15

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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.