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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
FBL icon
976
PUT
GraniteShares ETF Trust GraniteShares 2x Long META Daily ETF
FBL
$158M
– –
-2,200
Closed -$101K
FCEL icon
977
PUT
FuelCell Energy
FCEL
$1.73B
– –
-2,200
Closed -$418
FEPI icon
978
PUT
REX FANG & Innovation Equity Premium Income ETF
FEPI
$656M
– –
-5,500
Closed -$250K
FFTY icon
979
CALL
CapForce IBD 50 ETF
FFTY
$79.5M
– –
-15,200
Closed -$494K
FFTY icon
980
PUT
CapForce IBD 50 ETF
FFTY
$79.5M
– –
-1,000
Closed -$32.5K
FINV
981
CALL
FinVolution Group
FINV
$1.15B
– –
-11,800
Closed -$112K
FNCL icon
982
CALL
Fidelity MSCI Financials Index ETF
FNCL
$2.38B
– –
-1,800
Closed -$133K
FNCL icon
983
Fidelity MSCI Financials Index ETF
FNCL
$2.38B
– –
-459
Closed -$34K
FNCL icon
984
PUT
Fidelity MSCI Financials Index ETF
FNCL
$2.38B
– –
-1,100
Closed -$81.4K
FORM icon
985
CALL
FormFactor
FORM
$8.28B
– –
-9,400
Closed -$323K
FPX icon
986
CALL
First Trust US Equity Opportunities ETF
FPX
$1.47B
– –
-1,500
Closed -$217K
FTEC icon
987
CALL
Fidelity MSCI Information Technology Index ETF
FTEC
$19.9B
– –
-1,100
Closed -$217K
FTEC icon
988
Fidelity MSCI Information Technology Index ETF
FTEC
$19.9B
– –
-93
Closed -$18.3K
FTEC icon
989
PUT
Fidelity MSCI Information Technology Index ETF
FTEC
$19.9B
– –
-400
Closed -$78.9K
FTK icon
990
Flotek Industries
FTK
$852M
– –
-17,544
Closed -$259K
FTK icon
991
PUT
Flotek Industries
FTK
$852M
– –
-14,400
Closed -$213K
FXL icon
992
CALL
First Trust Technology AlphaDEX Fund
FXL
$2.53B
– –
-2,400
Closed -$378K
GDX icon
993
VanEck Gold Miners ETF
GDX
$22.6B
– –
-23,209
Closed -$1.21M
GDXJ icon
994
VanEck Junior Gold Miners ETF
GDXJ
$6.86B
– –
-15,346
Closed -$1.18M
GLD icon
995
SPDR Gold Trust
GLD
$131B
– –
-110,487
Closed -$35.2M
GOOGL icon
996
Alphabet (Google) Class A
GOOGL
$4.36T
– –
-4,553
Closed -$954K
GPIQ icon
997
CALL
Goldman Sachs ETF Trust Goldman Sachs Nasdaq-100 Premium Income ETF
GPIQ
$5.1B
– –
-20,000
Closed -$996K
GPIQ icon
998
PUT
Goldman Sachs ETF Trust Goldman Sachs Nasdaq-100 Premium Income ETF
GPIQ
$5.1B
– –
-400
Closed -$19.9K
GRAB icon
999
CALL
Grab
GRAB
$14.3B
– –
-37,700
Closed -$190K
GRAB icon
1000
Grab
GRAB
$14.3B
– –
-197
Closed -$991
38 39
40
41 42

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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.