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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
CRWL
401
CALL
GraniteShares 2x Long CRWD Daily ETF
CRWL
$46.6M
$276K ﹤0.01%
7,600
-10,900
-59% -$357K
KSS icon
402
PUT
Kohl's
KSS
$2.28B
$274K ﹤0.01%
+17,800
New +$237K
SMST
403
CALL
Defiance Daily Target 2x Short MSTR ETF
SMST
$29.7M
$273K ﹤0.01%
15,100
-12,600
-45% -$318K
VBR icon
404
CALL
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.6B
$271K ﹤0.01%
1,300
-200
-13% -$40.9K
GMEU
405
CALL
T-REX 2X Long GME Daily Target ETF
GMEU
$15.6M
$270K ﹤0.01%
15,100
-3,300
-18% -$47.5K
STEM icon
406
PUT
Stem
STEM
$50.3M
$269K ﹤0.01%
22,000
+21,900
+21,900% +$310K
GEVX
407
CALL
Tradr 2X Long GEV Daily ETF
GEVX
$34.4M
$268K ﹤0.01%
+26,400
New +$278K
FDVV icon
408
CALL
Fidelity High Dividend ETF
FDVV
$10.2B
$267K ﹤0.01%
+4,800
New +$261K
BMNU
409
PUT
T-REX 2X Long BMNR Daily Target ETF
BMNU
$226M
$265K ﹤0.01%
+960
New +$260K
FETH
410
Fidelity Ethereum Fund
FETH
$1.01B
$264K ﹤0.01%
+6,345
New +$249K
UDN icon
411
Invesco DB US Dollar Index Bearish Fund
UDN
$109M
$263K ﹤0.01%
13,956
-33,890
-71% -$635K
ARR
412
PUT
Armour Residential REIT
ARR
$2.33B
$261K ﹤0.01%
41,700
– –
ARR
413
Armour Residential REIT
ARR
$2.33B
$261K ﹤0.01%
17,453
+589
+3% +$9.24K
ETHU
414
PUT
2x Ether ETF
ETHU
$730M
$260K ﹤0.01%
2,000
+1,300
+186% +$165K
NEGG icon
415
Newegg Commerce
NEGG
$283M
$258K ﹤0.01%
+6,158
New +$311K
MSFL icon
416
CALL
GraniteShares 2x Long MSFT Daily ETF
MSFL
$136M
$258K ﹤0.01%
+8,100
New +$254K
CONL icon
417
PUT
GraniteShares 2x Long COIN Daily ETF
CONL
$390M
$258K ﹤0.01%
6,900
-11,700
-63% -$479K
SGDJ icon
418
Sprott Junior Gold Miners ETF
SGDJ
$278M
$257K ﹤0.01%
3,585
-35,086
-91% -$1.97M
DUSL icon
419
Direxion Daily Industrials Bull 3X ETF
DUSL
$59.7M
$255K ﹤0.01%
+3,373
New +$244K
CDTX
420
DELISTED
Cidara Therapeutics
CDTX
$252K ﹤0.01%
+2,635
New +$168K
CIFR icon
421
PUT
Cipher Digital
CIFR
$9.13B
$252K ﹤0.01%
20,000
+4,400
+28% +$33.2K
RIOT icon
422
Riot Platforms
RIOT
$8.1B
$249K ﹤0.01%
+13,073
New +$181K
HUMN
423
CALL
Roundhill Humanoid Robotics ETF
HUMN
$83.5M
$247K ﹤0.01%
+8,200
New +$219K
SNOW icon
424
Snowflake
SNOW
$107B
$246K ﹤0.01%
+1,090
New +$234K
NEBX
425
Tradr 2X Long NBIS Daily ETF
NEBX
$236M
$246K ﹤0.01%
+11,487
New +$201K
15 16
17
18 19

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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.