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Belvedere Trading Portfolio holdings
AUM
$84.4B
1-Year Est. Return
52.68%
This Fund
S&P 500
This Quarter
Est. Return
+0.72%
1 Year Est. Return
+52.68%
3 Year Est. Return
+262.56%
5 Year Est. Return
+468.62%
10 Year Est. Return
–
AUM
$93.1B
AUM Growth
+$6.26B
(+7.2%)
Cap. Flow
-$9.32B
Cap. Flow
% of AUM
-10%
Top 10 Holdings %
Top 10 Hldgs %
81.34%
Holding
1,246
New
362
Increased
207
Reduced
237
Closed
397
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Super Micro Computer
SMCI
|
+$32.9M |
| 2 |
SPDR Gold Trust
GLD
|
+$22.2M |
| 3 |
Strategy Inc
MSTR
|
+$17.7M |
| 4 |
Western Digital
WDC
|
+$11.4M |
| 5 |
Palantir
PLTR
|
+$9.83M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$188M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$171M |
| 3 |
NVIDIA
NVDA
|
+$145M |
| 4 |
Broadcom
AVGO
|
+$96.9M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
51
PUT
Marqeta
MQ
$1.82B
| $15.7M | 0.02% |
+155
| New | +$2.98K |
|
|
52
PUT
Western Digital
WDC
$190B
| $15M | 0.02% |
85,500
+58,900
| +221% | +$8.93M |
|
|
53
State Street SPDR S&P 500 ETF Trust
SPY
$785B
| $14.7M | 0.02% |
21,554
-252,803
| -92% | -$171M |
|
|
54
Western Digital
WDC
$190B
| $14.1M | 0.02% |
81,704
+75,472
| +1,211% | +$11.4M |
|
55
iShares Russell 2000 ETF
IWM
$79.6B
| $13.6M | 0.01% |
55,237
-35,393
| -39% | -$8.7M |
|
|
PPLT
56
PUT
abrdn Physical Platinum Shares ETF
PPLT
$1.87B
| $13.4M | 0.01% |
717,000
+336,000
| +88% | +$5.18M |
|
|
57
CALL
Marqeta
MQ
$1.82B
| $12.8M | 0.01% |
+126
| New | +$2.42K |
|
58
iShares Silver Trust
SLV
$27.7B
| $12.2M | 0.01% |
+188,770
| New | +$9.45M |
|
59
PUT
ProShares UltraShort Bitcoin ETF
SBIT
$174M
| $10.3M | 0.01% |
235,300
+233,700
| +14,606% | +$8.6M |
|
60
PUT
Direxion Daily CSI China Internet Index Bull 2X ETF
CWEB
$250M
| $10.3M | 0.01% |
256,600
+253,800
| +9,064% | +$12.2M |
|
61
PUT
Direxion Daily FTSE China Bull 3X ETF
YINN
$774M
| $9.36M | 0.01% |
+219,800
| New | +$10.4M |
|
|
CRCL
62
CALL
Circle Internet Group
CRCL
$14.8B
| $9.18M | 0.01% |
115,800
+108,800
| +1,554% | +$11.2M |
|
63
PUT
Coinbase
COIN
$37.4B
| $8.77M | 0.01% |
38,800
-38,100
| -50% | -$11.4M |
|
64
Global X Silver Miners ETF NEW
SIL
$4.02B
| $8.49M | 0.01% |
101,618
+83,995
| +477% | +$6.2M |
|
65
KraneShares CSI China Internet ETF
KWEB
$5.6B
| $7.99M | 0.01% |
+234,679
| New | +$9.03M |
|
|
66
PUT
Global X Silver Miners ETF NEW
SIL
$4.02B
| $7.93M | 0.01% |
94,900
+89,700
| +1,725% | +$6.62M |
|
|
PPLT
67
CALL
abrdn Physical Platinum Shares ETF
PPLT
$1.87B
| $7.83M | 0.01% |
420,000
-142,000
| -25% | -$2.19M |
|
68
CALL
Alibaba
BABA
$292B
| $7.68M | 0.01% |
52,000
-14,600
| -22% | -$2.38M |
|
69
PUT
Carvana
CVNA
$66B
| $7.55M | 0.01% |
89,500
+4,500
| +5% | +$335K |
|
70
CALL
Vanguard S&P 500 Growth ETF
VOOG
$25.7B
| $7.11M | 0.01% |
96,000
-26,400
| -22% | -$1.94M |
|
|
71
CALL
Western Digital
WDC
$190B
| $7.1M | 0.01% |
29,300
+800
| +3% | +$121K |
|
72
PUT
VanEck Junior Gold Miners ETF
GDXJ
$6.95B
| $7.09M | 0.01% |
62,300
-103,800
| -62% | -$10.7M |
|
|
73
Direxion Daily FTSE China Bull 3X ETF
YINN
$774M
| $6.97M | 0.01% |
+163,625
| New | +$7.77M |
|
|
74
CALL
Carvana
CVNA
$66B
| $6.92M | 0.01% |
82,000
+18,500
| +29% | +$1.38M |
|
|
75
Direxion Daily CSI China Internet Index Bull 2X ETF
CWEB
$250M
| $6.82M | 0.01% |
170,106
+128,979
| +314% | +$6.19M |
|
Similar funds
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.