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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
RR icon
851
CALL
Richtech Robotics
RR
$342M
$2.57K ﹤0.01%
+600
New +$1.58K
BTCZ
852
CALL
T-Rex 2X Inverse Bitcoin Daily Target ETF
BTCZ
$23.1M
$2.54K ﹤0.01%
+900
New +$2.64K
TRON
853
PUT
Tron Inc
TRON
$707M
$2.51K ﹤0.01%
+1,300
New +$7.7K
CGC
854
CALL
Canopy Growth
CGC
$405M
$2.37K ﹤0.01%
14,900
-100
-0.7% -$130
FLG
855
PUT
Flagstar Bank National Association
FLG
$5.94B
$2.31K ﹤0.01%
600
– –
BYND icon
856
Beyond Meat
BYND
$312M
$2.27K ﹤0.01%
1,199
-2,102
-64% -$6.19K
QSI icon
857
Quantum-Si Incorporated
QSI
$165M
$1.96K ﹤0.01%
1,390
-5,832
-81% -$8.43K
MCRB icon
858
PUT
Seres Therapeutics
MCRB
$48.8M
$1.92K ﹤0.01%
+100
New +$1.6K
SOXS icon
859
CALL
Direxion Daily Semiconductor Bear 3X ETF
SOXS
$1.31B
$1.72K ﹤0.01%
17
– –
QSI icon
860
PUT
Quantum-Si Incorporated
QSI
$165M
$1.69K ﹤0.01%
1,200
– –
DPRO
861
PUT
Draganfly
DPRO
$155M
$1.63K ﹤0.01%
+200
New +$991
AIFC
862
PUT
AI Financial Corp
AIFC
$56.7M
$1.61K ﹤0.01%
600
+500
+500% +$2.99K
HTZ icon
863
PUT
Hertz
HTZ
$480M
$1.36K ﹤0.01%
200
– –
LION icon
864
PUT
Lionsgate Studios
LION
$4B
$1.36K ﹤0.01%
+200
New +$1.29K
RR icon
865
PUT
Richtech Robotics
RR
$342M
$1.29K ﹤0.01%
+300
New +$789
YMAX icon
866
CALL
YieldMax Universe Fund of Option Income ETFs
YMAX
$394M
$1.28K ﹤0.01%
100
-500
-83% -$6.6K
SQNS
867
PUT
Sequans Communications SA
SQNS
$37M
$1.14K ﹤0.01%
+1,200
New +$18.4K
KULR icon
868
PUT
KULR Technology Group
KULR
$129M
$1.08K ﹤0.01%
2,000
+1,800
+900% +$9.59K
FFAI
869
CALL
Faraday Future Intelligent Electric
FFAI
$12.4M
$1.07K ﹤0.01%
285
+1
+0.4% +$317
PSQH icon
870
PUT
PSQ Holdings
PSQH
$14.7M
$955 ﹤0.01%
33
-47
-59% -$1.43K
TSLY icon
871
CALL
YieldMax TSLA Option Income Strategy ETF
TSLY
$658M
$943 ﹤0.01%
20
-2,100
-99% -$84.7K
NEGG icon
872
CALL
Newegg Commerce
NEGG
$286M
$840 ﹤0.01%
400
-19,300
-98% -$976K
ONDS icon
873
PUT
Ondas Inc
ONDS
$4.74B
$772 ﹤0.01%
+100
New +$415
LION icon
874
CALL
Lionsgate Studios
LION
$4B
$679 ﹤0.01%
+100
New +$643
IETC icon
875
iShares US Tech Independence Focused ETF
IETC
$686M
$510 ﹤0.01%
+5
New +$491
33 34
35
36 37

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Qube Research & Technologies (QRT)
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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.