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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
CLSX
576
Tradr 2X Long CLSK Daily ETF
CLSX
$20.2M
$98.7K ﹤0.01%
+6,086
New +$279K
MSTU
577
CALL
T-Rex 2X Long MSTR Daily Target ETF
MSTU
$347M
$96.3K ﹤0.01%
20,500
+11,160
+119% +$264K
GMEU
578
PUT
T-REX 2X Long GME Daily Target ETF
GMEU
$15.9M
$95.8K ﹤0.01%
11,000
+7,600
+224% +$88.1K
IRE
579
CALL
Defiance Daily Target 2x Long IREN ETF
IRE
$282M
$95.6K ﹤0.01%
+4,025
New +$204K
HOOG
580
Leverage Shares 2X Long HOOD Daily ETF
HOOG
$59.1M
$92.1K ﹤0.01%
1,695
-1,131
-40% -$100K
IREX
581
PUT
Tradr 2X Long IREN Daily ETF
IREX
$56.6M
$91.1K ﹤0.01%
+3,000
New +$188K
XLB icon
582
PUT
State Street Materials Select Sector SPDR ETF
XLB
$8.52B
$90.7K ﹤0.01%
+2,000
New +$88.4K
KPTI icon
583
CALL
Karyopharm Therapeutics
KPTI
$44.4M
$90.5K ﹤0.01%
+12,300
New +$75.2K
DOUG icon
584
CALL
Douglas Elliman
DOUG
$160M
$89.8K ﹤0.01%
37,900
– –
CIFR icon
585
Cipher Digital
CIFR
$8.34B
$86.7K ﹤0.01%
5,877
-19,420
-77% -$343K
RGTI icon
586
PUT
Rigetti Computing
RGTI
$5.8B
$86.4K ﹤0.01%
+3,900
New +$127K
OKLO
587
CALL
Oklo
OKLO
$7.54B
$86.1K ﹤0.01%
1,200
-4,600
-79% -$513K
MSOX icon
588
AdvisorShares MSOS 2X Daily ETF
MSOX
$52.5M
$85.7K ﹤0.01%
+19,137
New +$112K
LABU icon
589
PUT
Direxion Daily S&P Biotech Bull 3X ETF
LABU
$542M
$85.3K ﹤0.01%
1,200
+500
+71% +$68.7K
SGDJ icon
590
Sprott Junior Gold Miners ETF
SGDJ
$289M
$84.4K ﹤0.01%
1,003
-2,582
-72% -$203K
FXL icon
591
CALL
First Trust Technology AlphaDEX Fund
FXL
$2.77B
$84.1K ﹤0.01%
+500
New +$84.7K
NFE icon
592
CALL
New Fortress Energy
NFE
$99M
$83.6K ﹤0.01%
73,300
+33,700
+85% +$49.7K
CCRN
593
PUT
DELISTED
Cross Country Healthcare
CCRN
$83.4K ﹤0.01%
+10,300
New +$113K
BTCW icon
594
PUT
WisdomTree Bitcoin Fund
BTCW
$139M
$83.4K ﹤0.01%
+900
New +$95.4K
XNTK icon
595
CALL
State Street SPDR NYSE Technology ETF
XNTK
$2.22B
$83.4K ﹤0.01%
300
+200
+200% +$55.9K
BMNU
596
PUT
T-REX 2X Long BMNR Daily Target ETF
BMNU
$243M
$83.2K ﹤0.01%
1,740
+780
+81% +$119K
CIB icon
597
PUT
Grupo Cibest SA
CIB
$21.4B
$82.7K ﹤0.01%
+1,300
New +$77.8K
AVTX icon
598
Avalo Therapeutics
AVTX
$980M
$82.2K ﹤0.01%
+4,526
New +$76.4K
GBTC icon
599
PUT
Grayscale Bitcoin Trust
GBTC
$9.65B
$82K ﹤0.01%
1,200
-4,800
-80% -$376K
MSFL icon
600
CALL
GraniteShares 2x Long MSFT Daily ETF
MSFL
$139M
$81.6K ﹤0.01%
3,000
-5,100
-63% -$151K
22 23
24
25 26

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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 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.