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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
JFIN
476
CALL
Jiayin Group
JFIN
$131M
$206K ﹤0.01%
20,000
-2,500
-11% -$34.1K
QMOM icon
477
CALL
Alpha Architect US Quantitative Momentum ETF
QMOM
$436M
$206K ﹤0.01%
3,200
-2,000
-38% -$127K
DJT icon
478
CALL
Trump Media & Technology Group
DJT
$2.71B
$205K ﹤0.01%
12,500
+8,700
+229% +$154K
ETU
479
PUT
T-Rex 2X Long Ether Daily Target ETF
ETU
$11M
$205K ﹤0.01%
+6,000
New +$199K
FIDU icon
480
CALL
Fidelity MSCI Industrials Index ETF
FIDU
$2.39B
$205K ﹤0.01%
+2,500
New +$200K
MSTZ
481
CALL
T-Rex 2X Inverse MSTR Daily Target ETF
MSTZ
$103M
$205K ﹤0.01%
38,900
+33,100
+571% +$148K
SPYQ
482
PUT
Tradr 2X Long SPY Quarterly ETF
SPYQ
$15.2M
$204K ﹤0.01%
+1,300
New +$190K
LQIG
483
CALL
DELISTED
State Street SPDR MarketAxess Investment Grade 400 Corporate Bond ETF
LQIG
$204K ﹤0.01%
+2,100
New +$201K
IPO icon
484
Renaissance IPO ETF
IPO
$158M
$203K ﹤0.01%
4,100
-400
-9% -$19.4K
AIRR icon
485
CALL
First Trust RBA American Industrial Renaissance ETF
AIRR
$10.6B
$203K ﹤0.01%
2,100
-2,300
-52% -$206K
RAPP
486
PUT
Rapport Therapeutics
RAPP
$2.12B
$202K ﹤0.01%
+6,800
New +$121K
ION icon
487
PUT
ProShares S&P Global Core Battery Metals ETF
ION
$12.6M
$199K ﹤0.01%
5,100
+3,600
+240% +$122K
UBRL
488
PUT
GraniteShares 2x Long UBER Daily ETF
UBRL
$19.1M
$198K ﹤0.01%
5,600
-2,100
-27% -$69.1K
SPUU icon
489
PUT
Direxion Daily S&P 500 Bull 2X ETF
SPUU
$279M
$198K ﹤0.01%
1,100
-200
-15% -$33.4K
SMCY
490
PUT
YieldMax SMCI Option Income Strategy ETF
SMCY
$107M
$198K ﹤0.01%
12,800
-8,600
-40% -$153K
MSTY icon
491
PUT
YieldMax MSTR Option Income Strategy ETF
MSTY
$749M
$195K ﹤0.01%
2,800
-1,320
-32% -$120K
YMAG icon
492
PUT
YieldMax Magnificent 7 Fund of Option Income ETFs
YMAG
$292M
$195K ﹤0.01%
+12,400
New +$192K
VUG icon
493
CALL
Vanguard Morningstar Growth ETF
VUG
$229B
$192K ﹤0.01%
2,400
-57,000
-96% -$4.36M
IWY icon
494
PUT
iShares Russell Top 200 Growth ETF
IWY
$16.5B
$192K ﹤0.01%
700
-600
-46% -$155K
XSD icon
495
CALL
State Street SPDR S&P Semiconductor ETF
XSD
$2.92B
$191K ﹤0.01%
600
-4,400
-88% -$1.24M
NVOX
496
Defiance Daily Target 2x Long NVO ETF
NVOX
$33.9M
$188K ﹤0.01%
+6,664
New +$229K
IAI icon
497
iShares US Broker-Dealers & Securities Exchanges ETF
IAI
$1.36B
$186K ﹤0.01%
+1,054
New +$183K
HOOG
498
PUT
Leverage Shares 2X Long HOOD Daily ETF
HOOG
$55.6M
$185K ﹤0.01%
+1,600
New +$115K
BITO icon
499
ProShares Bitcoin Strategy ETF
BITO
$1.44B
$184K ﹤0.01%
9,373
-4,221
-31% -$88K
DEA
500
PUT
Easterly Government Properties
DEA
$1.18B
$183K ﹤0.01%
+20,000
New +$455K
18 19
20
21 22

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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.