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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
AVXL icon
676
CALL
Anavex Life Sciences
AVXL
$292M
$39.2K ﹤0.01%
+11,000
New +$67.4K
IYM icon
677
iShares US Basic Materials ETF
IYM
$1.21B
$38.5K ﹤0.01%
+250
New +$37K
ASMG
678
CALL
Leverage Shares 2X Long ASML Daily ETF
ASMG
$37.7M
$38.4K ﹤0.01%
1,700
-3,500
-67% -$86K
CRCA
679
CALL
ProShares Ultra CRCL
CRCA
$80.2M
$38.4K ﹤0.01%
950
-2,160
-69% -$185K
LABU icon
680
Direxion Daily S&P Biotech Bull 3X ETF
LABU
$542M
$38.3K ﹤0.01%
+240
New +$33K
CRCG
681
Leverage Shares 2X Long CRCL Daily ETF
CRCG
$85.4M
$38K ﹤0.01%
1,462
+908
+164% +$49.6K
HOOY
682
CALL
YieldMax HOOD Option Income Strategy ETF
HOOY
$132M
$37.9K ﹤0.01%
+800
New +$48.4K
DBJP icon
683
PUT
Xtrackers MSCI Japan Hedged Equity ETF
DBJP
$689M
$37.9K ﹤0.01%
400
+100
+33% +$9.15K
VOR icon
684
CALL
Vor Biopharma
VOR
$1.21B
$37.3K ﹤0.01%
57,400
-57,700
-50% -$1.07M
TSLY icon
685
YieldMax TSLA Option Income Strategy ETF
TSLY
$665M
$35.9K ﹤0.01%
957
-31,082
-97% -$1.26M
UVXY icon
686
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$245M
$35.2K ﹤0.01%
15,300
+12,240
+400% +$613K
SIRI icon
687
SiriusXM
SIRI
$10.4B
$35.1K ﹤0.01%
1,757
+89
+5% +$1.91K
CLSX
688
PUT
Tradr 2X Long CLSK Daily ETF
CLSX
$20.2M
$34K ﹤0.01%
+2,100
New +$96.2K
BKKT icon
689
CALL
Bakkt Inc
BKKT
$338M
$34K ﹤0.01%
80,100
-11,300
-12% -$250K
CRWU
690
T-REX 2X Long CRWV Daily Target ETF
CRWU
$43.1M
$33.9K ﹤0.01%
+6,748
New +$92.6K
ASMG
691
PUT
Leverage Shares 2X Long ASML Daily ETF
ASMG
$37.7M
$33.9K ﹤0.01%
1,500
-1,800
-55% -$44.2K
ETH
692
PUT
Grayscale Ethereum Staking Mini ETF Shares
ETH
$1.71B
$33.7K ﹤0.01%
+1,200
New +$39.1K
SQQQ icon
693
PUT
ProShares UltraPro Short QQQ
SQQQ
$1.7B
$32.9K ﹤0.01%
+2,400
New +$170K
SIRI icon
694
PUT
SiriusXM
SIRI
$10.4B
$32.8K ﹤0.01%
11,200
– –
MVLL
695
GraniteShares 2x Long MRVL Daily ETF
MVLL
$332M
$32.3K ﹤0.01%
4,500
-1,995
-31% -$16.1K
FTC icon
696
PUT
First Trust Large Cap Growth AlphaDEX Fund
FTC
$1.38B
$32K ﹤0.01%
200
+100
+100% +$16K
KULR icon
697
CALL
KULR Technology Group
KULR
$130M
$31.4K ﹤0.01%
82,500
+17,200
+26% +$63.1K
CRSH
698
PUT
YieldMax Short TSLA Option Income Strategy ETF
CRSH
$16.4M
$30.3K ﹤0.01%
11,700
+9,190
+366% +$259K
AMLX icon
699
PUT
Amylyx Pharmaceuticals
AMLX
$2.43B
$30.2K ﹤0.01%
+2,500
New +$34K
URA icon
700
CALL
Global X Uranium ETF
URA
$5.89B
$29.9K ﹤0.01%
+700
New +$33.9K
26 27
28
29 30

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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.