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Belvedere Trading Portfolio holdings
AUM
$84.4B
1-Year Est. Return
52.68%
This Fund
S&P 500
This Quarter
Est. Return
+0.72%
1 Year Est. Return
+52.68%
3 Year Est. Return
+262.56%
5 Year Est. Return
+468.62%
10 Year Est. Return
–
AUM
$93.1B
AUM Growth
+$6.26B
(+7.2%)
Cap. Flow
-$9.32B
Cap. Flow
% of AUM
-10%
Top 10 Holdings %
Top 10 Hldgs %
81.34%
Holding
1,246
New
362
Increased
207
Reduced
237
Closed
397
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Super Micro Computer
SMCI
|
+$32.9M |
| 2 |
SPDR Gold Trust
GLD
|
+$22.2M |
| 3 |
Strategy Inc
MSTR
|
+$17.7M |
| 4 |
Western Digital
WDC
|
+$11.4M |
| 5 |
Palantir
PLTR
|
+$9.83M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$188M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$171M |
| 3 |
NVIDIA
NVDA
|
+$145M |
| 4 |
Broadcom
AVGO
|
+$96.9M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
26
PUT
Amazon
AMZN
$2.44T
| $511M | 0.55% |
2,213,400
-351,100
| -14% | -$80.3M |
|
|
27
CALL
Broadcom
AVGO
$1.76T
| $484M | 0.52% |
1,398,200
-167,000
| -11% | -$59.7M |
|
|
28
PUT
SPDR Gold Trust
GLD
$131B
| $400M | 0.43% |
1,009,500
-546,000
| -35% | -$209M |
|
|
29
PUT
Palantir
PLTR
$295B
| $374M | 0.4% |
2,101,900
+205,100
| +11% | +$37.1M |
|
|
30
CALL
Strategy Inc
MSTR
$34.1B
| $301M | 0.32% |
1,983,200
-790,700
| -29% | -$182M |
|
|
31
PUT
Strategy Inc
MSTR
$34.1B
| $295M | 0.32% |
1,938,200
-1,658,700
| -46% | -$382M |
|
|
32
CALL
Palantir
PLTR
$295B
| $264M | 0.28% |
1,483,700
-19,700
| -1% | -$3.57M |
|
|
33
CALL
iShares Bitcoin Trust
IBIT
$47.2B
| $180M | 0.19% |
3,635,200
+332,800
| +10% | +$18.9M |
|
|
34
PUT
iShares Bitcoin Trust
IBIT
$47.2B
| $117M | 0.13% |
2,363,300
-2,057,400
| -47% | -$117M |
|
35
PUT
iShares Silver Trust
SLV
$27.7B
| $109M | 0.12% |
1,698,500
-251,000
| -13% | -$12.6M |
|
|
36
CALL
iShares Silver Trust
SLV
$27.7B
| $107M | 0.11% |
1,658,600
-1,656,200
| -50% | -$82.9M |
|
|
37
PUT
Super Micro Computer
SMCI
$16.6B
| $102M | 0.11% |
3,476,300
+390,700
| +13% | +$16.1M |
|
|
38
CALL
Super Micro Computer
SMCI
$16.6B
| $91.9M | 0.1% |
3,139,900
-626,800
| -17% | -$25.8M |
|
39
Invesco QQQ Trust
QQQ
$436B
| $52.6M | 0.06% |
85,555
-54,383
| -39% | -$33.4M |
|
40
Advanced Micro Devices
AMD
$700B
| $45.9M | 0.05% |
214,307
-174,319
| -45% | -$39.2M |
|
|
41
Super Micro Computer
SMCI
$16.6B
| $36.7M | 0.04% |
1,254,996
+798,680
| +175% | +$32.9M |
|
|
42
iShares Bitcoin Trust
IBIT
$47.2B
| $34M | 0.04% |
685,732
-1,624,692
| -70% | -$92.3M |
|
43
PUT
Rentokil
RTO
$14.8B
| $33.5M | 0.04% |
+13,300
| New | +$369K |
|
|
44
Broadcom
AVGO
$1.76T
| $30.6M | 0.03% |
88,526
-270,841
| -75% | -$96.9M |
|
|
45
NVIDIA
NVDA
$4.6T
| $28.5M | 0.03% |
152,656
-779,304
| -84% | -$145M |
|
|
46
Strategy Inc
MSTR
$34.1B
| $25.2M | 0.03% |
165,694
+77,045
| +87% | +$17.7M |
|
|
47
CALL
Rentokil
RTO
$14.8B
| $24.8M | 0.03% |
+10,000
| New | +$278K |
|
|
48
SPDR Gold Trust
GLD
$131B
| $23M | 0.02% |
+58,131
| New | +$22.2M |
|
|
49
Palantir
PLTR
$295B
| $20.2M | 0.02% |
113,889
+54,315
| +91% | +$9.83M |
|
|
SLVR
50
Sprott Silver Miners & Physical Silver ETF
SLVR
$600M
| $19.3M | 0.02% |
346,401
+47,809
| +16% | +$2.28M |
|
Similar funds
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.