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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
VEON icon
451
CALL
VEON
VEON
$3.73B
$216K ﹤0.01%
4,100
+3,600
+720% +$182K
SMR icon
452
CALL
NuScale Power
SMR
$3.24B
$215K ﹤0.01%
+15,200
New +$435K
XOVR
453
EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF
XOVR
$1.82B
$215K ﹤0.01%
10,656
+2,341
+28% +$48K
EZA icon
454
PUT
iShares MSCI South Africa ETF
EZA
$558M
$213K ﹤0.01%
+3,100
New +$205K
BNT
455
Brookfield Wealth Solutions
BNT
$12.2B
$210K ﹤0.01%
+3,330
New +$152K
JMIA
456
Jumia Technologies
JMIA
$763M
$208K ﹤0.01%
+16,690
New +$193K
PLTU
457
CALL
Direxion Daily PLTR Bull 2X ETF
PLTU
$590M
$206K ﹤0.01%
+2,800
New +$258K
IUSG icon
458
iShares Core S&P US Growth ETF
IUSG
$33.3B
$206K ﹤0.01%
+1,226
New +$205K
CDE icon
459
PUT
Coeur Mining
CDE
$16.6B
$205K ﹤0.01%
7,200
– –
CIB icon
460
CALL
Grupo Cibest SA
CIB
$21.8B
$204K ﹤0.01%
+3,200
New +$192K
BITI icon
461
CALL
ProShares Short Bitcoin Strategy ETF
BITI
$121M
$202K ﹤0.01%
+8,700
New +$182K
IREX
462
CALL
Tradr 2X Long IREN Daily ETF
IREX
$57.4M
$200K ﹤0.01%
+6,600
New +$414K
MVLL
463
CALL
GraniteShares 2x Long MRVL Daily ETF
MVLL
$319M
$200K ﹤0.01%
27,900
-8,400
-23% -$67.9K
UNHG
464
PUT
Leverage Shares 2X Long UNH Daily ETF
UNHG
$75.5M
$200K ﹤0.01%
11,900
+7,600
+177% +$152K
WGMI icon
465
CALL
CoinShares ETF Trust CoinShares Bitcoin Mining ETF
WGMI
$271M
$199K ﹤0.01%
5,200
+3,800
+271% +$186K
LABX
466
Tradr 2X Long ALAB Daily ETF
LABX
$12.1M
$198K ﹤0.01%
+25,984
New +$233K
XXRP
467
PUT
Teucrium 2x Long Daily XRP ETF
XXRP
$89.7M
$197K ﹤0.01%
2,070
-1,020
-33% -$189K
BITU icon
468
CALL
ProShares Ultra Bitcoin ETF
BITU
$350M
$197K ﹤0.01%
8,900
-34,300
-79% -$1.33M
SGDM icon
469
Sprott Gold Miners ETF
SGDM
$566M
$195K ﹤0.01%
+2,800
New +$180K
HOOW
470
CALL
Roundhill HOOD WeeklyPay ETF
HOOW
$130M
$195K ﹤0.01%
4,100
-22,600
-85% -$1.44M
RMNI icon
471
CALL
Rimini Street
RMNI
$451M
$194K ﹤0.01%
50,000
– –
CRCA
472
ProShares Ultra CRCL
CRCA
$77M
$193K ﹤0.01%
4,767
+2,767
+138% +$237K
NVD icon
473
CALL
GraniteShares 2x Short NVDA Daily ETF
NVD
$49.9M
$192K ﹤0.01%
26,900
+11,600
+76% +$96.9K
PRN icon
474
CALL
Invesco Dorsey Wright Industrials Momentum ETF
PRN
$432M
$192K ﹤0.01%
+1,100
New +$193K
MARA icon
475
Marathon Digital Holdings
MARA
$4.41B
$192K ﹤0.01%
+21,355
New +$315K
17 18
19
20 21

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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.