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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
PPA icon
376
PUT
Invesco Aerospace & Defense ETF
PPA
$8.48B
$311K ﹤0.01%
2,000
-1,800
-47% -$265K
APG icon
377
CALL
APi Group
APG
$17.2B
$309K ﹤0.01%
+9,000
New +$314K
MTUM icon
378
CALL
iShares MSCI USA Momentum Factor ETF
MTUM
$25.6B
$308K ﹤0.01%
1,200
+1,100
+1,100% +$269K
ROBN
379
T-Rex 2X Long HOOD Daily Target ETF
ROBN
$89.1M
$303K ﹤0.01%
2,808
-3,775
-57% -$253K
IBB icon
380
iShares Biotechnology ETF
IBB
$9.18B
$302K ﹤0.01%
+2,094
New +$286K
ECHO
381
PUT
EchoStar
ECHO
$24.8B
$301K ﹤0.01%
8,300
-4,800
-37% -$217K
RKT icon
382
CALL
Rocket Companies
RKT
$38.7B
$301K ﹤0.01%
+16,700
New +$291K
KEEL
383
CALL
Keel Infrastructure Corp
KEEL
$2.54B
$300K ﹤0.01%
+42,200
New +$65.5K
IAK icon
384
iShares US Insurance ETF
IAK
$537M
$300K ﹤0.01%
+2,236
New +$293K
BBH icon
385
PUT
VanEck Biotech ETF
BBH
$398M
$298K ﹤0.01%
1,800
– –
XRPT
386
Volatility Shares Trust XRP 2X ETF
XRPT
$53.6M
$297K ﹤0.01%
+959
New +$360K
UX
387
CALL
Roundhill Uranium ETF
UX
$5.06M
$295K ﹤0.01%
+9,500
New +$259K
NFLU
388
CALL
T-Rex 2X Long NFLX Daily Target ETF
NFLU
$54.1M
$295K ﹤0.01%
5,200
-2,000
-28% -$120K
CRCA
389
ProShares Ultra CRCL
CRCA
$73M
$292K ﹤0.01%
+2,000
New +$322K
SPMO icon
390
CALL
Invesco S&P 500 Momentum ETF
SPMO
$21.3B
$291K ﹤0.01%
2,400
-1,300
-35% -$151K
GEVX
391
Tradr 2X Long GEV Daily ETF
GEVX
$34.4M
$289K ﹤0.01%
+28,422
New +$299K
AVGX
392
CALL
Defiance Daily Target 2X Long AVGO ETF
AVGX
$219M
$287K ﹤0.01%
6,000
-4,400
-42% -$190K
MVLL
393
CALL
GraniteShares 2x Long MRVL Daily ETF
MVLL
$264M
$286K ﹤0.01%
+36,300
New +$239K
SRDX
394
DELISTED
Surmodics
SRDX
$286K ﹤0.01%
+9,554
New +$319K
XLK icon
395
State Street Technology Select Sector SPDR ETF
XLK
$117B
$284K ﹤0.01%
+2,018
New +$267K
ULTY icon
396
YieldMax Ultra Option Income Strategy ETF
ULTY
$764M
$283K ﹤0.01%
5,183
-1,329
-20% -$78.7K
NVDX icon
397
PUT
T-Rex 2X Long NVIDIA Daily Target ETF
NVDX
$446M
$282K ﹤0.01%
14,600
-8,100
-36% -$140K
EUAD
398
PUT
Select STOXX Europe Aerospace & Defense ETF
EUAD
$1.22B
$282K ﹤0.01%
6,000
+900
+18% +$38.7K
VOR icon
399
CALL
Vor Biopharma
VOR
$1.16B
$281K ﹤0.01%
+115,100
New +$4.63M
VIOG icon
400
CALL
Vanguard S&P Small-Cap 600 Growth ETF
VIOG
$1.07B
$280K ﹤0.01%
2,300
-2,000
-47% -$237K
14 15
16
17 18

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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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US Bancorp
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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.