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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
MMM icon
651
3M
MMM
$93.6B
$54K ﹤0.01%
+337
New +$55.1K
APPX
652
Tradr 2X Long APP Daily ETF
APPX
$66.4M
$53.7K ﹤0.01%
505
-9,048
-95% -$954K
CRWU
653
CALL
T-REX 2X Long CRWV Daily Target ETF
CRWU
$43.1M
$52.8K ﹤0.01%
+10,500
New +$144K
CRWG
654
Leverage Shares 2X Long CRWV Daily ETF
CRWG
$165M
$52.5K ﹤0.01%
1,939
-744
-28% -$55.2K
NVD icon
655
PUT
GraniteShares 2x Short NVDA Daily ETF
NVD
$49M
$52.2K ﹤0.01%
7,300
+5,300
+265% +$44.3K
ABUS icon
656
Arbutus Biopharma
ABUS
$873M
$51.6K ﹤0.01%
+10,721
New +$48.2K
GIL icon
657
PUT
Gildan
GIL
$10.5B
$51.6K ﹤0.01%
+7,200
New +$428K
AVTX icon
658
CALL
Avalo Therapeutics
AVTX
$980M
$50.8K ﹤0.01%
+2,800
New +$47.3K
BTCZ
659
PUT
T-Rex 2X Inverse Bitcoin Daily Target ETF
BTCZ
$23M
$50.1K ﹤0.01%
11,900
+100
+0.8% +$356
GE icon
660
PUT
GE Aerospace
GE
$391B
$47.1K ﹤0.01%
100
– –
GIL icon
661
Gildan
GIL
$10.5B
$46.9K ﹤0.01%
+751
New +$44.6K
KYMR icon
662
PUT
Kymera Therapeutics
KYMR
$8.59B
$46.7K ﹤0.01%
+600
New +$40.5K
RGTI icon
663
CALL
Rigetti Computing
RGTI
$5.8B
$46.5K ﹤0.01%
+2,100
New +$68.5K
BITO icon
664
CALL
ProShares Bitcoin Strategy ETF
BITO
$1.43B
$46.2K ﹤0.01%
3,800
– –
GMEU
665
T-REX 2X Long GME Daily Target ETF
GMEU
$15.9M
$46.2K ﹤0.01%
5,305
+3,494
+193% +$40.5K
IYM icon
666
CALL
iShares US Basic Materials ETF
IYM
$1.21B
$46.2K ﹤0.01%
+300
New +$44.4K
METU
667
CALL
Direxion Daily META Bull 2X ETF
METU
$368M
$45K ﹤0.01%
+1,400
New +$48K
UNL icon
668
CALL
United States 12 Month Natural Gas Fund
UNL
$13.3M
$44.3K ﹤0.01%
+6,000
New +$47.8K
CCCX
669
CALL
DELISTED
Churchill Capital Corp X
CCCX
$43.7K ﹤0.01%
+2,800
New +$47.1K
ETQ
670
PUT
DELISTED
T-Rex 2X Inverse Ether Daily Target ETF
ETQ
$43.2K ﹤0.01%
20,000
+19,000
+1,900% +$766K
ITA icon
671
CALL
iShares US Aerospace & Defense ETF
ITA
$14.7B
$42.9K ﹤0.01%
200
-1,400
-88% -$293K
BITU icon
672
PUT
ProShares Ultra Bitcoin ETF
BITU
$351M
$42K ﹤0.01%
1,900
-36,200
-95% -$1.41M
REKT
673
CALL
DELISTED
Direxion Daily Crypto Industry Bear 1X ETF
REKT
$40.8K ﹤0.01%
+2,200
New +$36K
DDL
674
Dingdong
DDL
$509M
$40.4K ﹤0.01%
+16,217
New +$32.3K
CVU icon
675
CALL
CPI Aerostructures
CVU
$64.9M
$39.6K ﹤0.01%
+10,000
New +$27.4K
25 26
27
28 29

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Qube Research & Technologies (QRT)
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Sanders Capital
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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.