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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
-$670M
Cap. Flow %
-0.72%
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 Miscellaneous 99.74%
2 Technology 0.23%
3 Consumer Discretionary 0.01%
4 Industrials 0.01%
5 Financials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMZN icon
26
PUT
Amazon
AMZN
$2.73T
$511M 0.55%
2,213,400
-351,100
-14% -$80.3M
AVGO icon
27
CALL
Broadcom
AVGO
$1.65T
$484M 0.52%
1,398,200
-167,000
-11% -$59.7M
GLD icon
28
PUT
SPDR Gold Trust
GLD
$145B
$400M 0.43%
1,009,500
-546,000
-35% -$209M
PLTR icon
29
PUT
Palantir
PLTR
$416B
$374M 0.4%
2,101,900
+205,100
+11% +$37.1M
MSTR icon
30
CALL
Strategy Inc
MSTR
$54.4B
$301M 0.32%
1,983,200
-790,700
-29% -$182M
MSTR icon
31
PUT
Strategy Inc
MSTR
$54.4B
$295M 0.32%
1,938,200
-1,658,700
-46% -$382M
PLTR icon
32
CALL
Palantir
PLTR
$416B
$264M 0.28%
1,483,700
-19,700
-1% -$3.57M
IBIT icon
33
CALL
iShares Bitcoin Trust
IBIT
$62.1B
$180M 0.19%
3,635,200
+332,800
+10% +$18.9M
IBIT icon
34
PUT
iShares Bitcoin Trust
IBIT
$62.1B
$117M 0.13%
2,363,300
-2,057,400
-47% -$117M
SLV icon
35
PUT
iShares Silver Trust
SLV
$30.6B
$109M 0.12%
1,698,500
-251,000
-13% -$12.6M
SLV icon
36
CALL
iShares Silver Trust
SLV
$30.6B
$107M 0.11%
1,658,600
-1,656,200
-50% -$82.9M
SMCI icon
37
PUT
Super Micro Computer
SMCI
$24.1B
$102M 0.11%
3,476,300
+390,700
+13% +$16.1M
SMCI icon
38
CALL
Super Micro Computer
SMCI
$24.1B
$91.9M 0.1%
3,139,900
-626,800
-17% -$25.8M
QQQ icon
39
Invesco QQQ Trust
QQQ
$477B
$52.6M 0.06%
85,555
-54,383
-39% -$33.4M
AMD icon
40
Advanced Micro Devices
AMD
$805B
$45.9M 0.05%
214,307
-174,319
-45% -$39.2M
SMCI icon
41
Super Micro Computer
SMCI
$24.1B
$36.7M 0.04%
1,254,996
+798,680
+175% +$32.9M
IBIT icon
42
iShares Bitcoin Trust
IBIT
$62.1B
$34M 0.04%
685,732
-1,624,692
-70% -$92.3M
RTO icon
43
PUT
Rentokil
RTO
$11.3B
$33.5M 0.04%
+13,300
New +$369K
AVGO icon
44
Broadcom
AVGO
$1.65T
$30.6M 0.03%
88,526
-270,841
-75% -$96.9M
NVDA icon
45
NVIDIA
NVDA
$5.09T
$28.5M 0.03%
152,656
-779,304
-84% -$145M
MSTR icon
46
Strategy Inc
MSTR
$54.4B
$25.2M 0.03%
165,694
+77,045
+87% +$17.7M
RTO icon
47
CALL
Rentokil
RTO
$11.3B
$24.8M 0.03%
+10,000
New +$278K
GLD icon
48
SPDR Gold Trust
GLD
$145B
$23M 0.02%
+58,131
New +$22.2M
PLTR icon
49
Palantir
PLTR
$416B
$20.2M 0.02%
113,889
+54,315
+91% +$9.83M
SLVR
50
Sprott Silver Miners & Physical Silver ETF
SLVR
$744M
$19.3M 0.02%
346,401
+47,809
+16% +$2.28M
1
2
3 4 5

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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's Q4 2025 filing shows 362 new, 207 increased, 237 reduced and 397 closed positions. Its largest new stake was SPDR Gold Trust: 58,131 shares worth $23M. The largest sale was Tesla, an estimated $188M.

By sector, the portfolio is most concentrated in Miscellaneous at 100% of assets, up from 99% a quarter earlier, followed by Technology and Consumer Discretionary.

  • 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.