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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
GRRR
1001
PUT
Gorilla Technology Group
GRRR
$306M
– –
-4,300
Closed -$85.5K
GSAT icon
1002
PUT
Globalstar
GSAT
$10.9B
– –
-100
Closed -$165
HGER icon
1003
CALL
Harbor Commodity All-Weather Strategy ETF
HGER
$3.61B
– –
-10,300
Closed -$250K
HIMS icon
1004
CALL
Hims & Hers Health
HIMS
$6.95B
– –
-14,100
Closed -$703K
HOOD icon
1005
Robinhood
HOOD
$80.5B
– –
-10,854
Closed -$1.02M
HSAI
1006
CALL
Hesai Group
HSAI
$2.72B
– –
-21,400
Closed -$470K
AGIG
1007
CALL
Abundia Global Impact Group
AGIG
$41M
– –
-27,500
Closed -$29.1K
HWKN icon
1008
CALL
Hawkins
HWKN
$2.74B
– –
-700
Closed -$99.5K
HWKN icon
1009
PUT
Hawkins
HWKN
$2.74B
– –
-1,300
Closed -$185K
HYLN icon
1010
CALL
Hyliion Holdings
HYLN
$633M
– –
-14,100
Closed -$18.6K
IAU icon
1011
CALL
iShares Gold Trust
IAU
$62.6B
– –
-69,000
Closed -$4.3M
IDRV icon
1012
CALL
iShares Self-Driving EV and Tech ETF
IDRV
$132M
– –
-7,100
Closed -$217K
IETC icon
1013
PUT
iShares US Tech Independence Focused ETF
IETC
$673M
– –
-200
Closed -$18.8K
INDA icon
1014
iShares MSCI India ETF
INDA
$6.61B
– –
-4,116
Closed -$229K
INMB icon
1015
CALL
INmune Bio
INMB
$47.6M
– –
-114,500
Closed -$264K
ION icon
1016
CALL
ProShares S&P Global Core Battery Metals ETF
ION
$11.8M
– –
-26,100
Closed -$757K
IPO icon
1017
CALL
Renaissance IPO ETF
IPO
$151M
– –
-1,900
Closed -$85.4K
IPO icon
1018
PUT
Renaissance IPO ETF
IPO
$151M
– –
-200
Closed -$8.99K
IUSV icon
1019
CALL
iShares Core S&P US Value ETF
IUSV
$27.3B
– –
-3,000
Closed -$284K
IVOO icon
1020
CALL
Vanguard S&P Mid-Cap 400 ETF
IVOO
$3.74B
– –
-3,000
Closed -$315K
IVOO icon
1021
PUT
Vanguard S&P Mid-Cap 400 ETF
IVOO
$3.74B
– –
-100
Closed -$10.5K
IWF icon
1022
CALL
iShares Russell 1000 Growth ETF
IWF
$122B
– –
-4,400
Closed -$467K
IWF icon
1023
PUT
iShares Russell 1000 Growth ETF
IWF
$122B
– –
-400
Closed -$42.5K
IYM icon
1024
CALL
iShares US Basic Materials ETF
IYM
$1.17B
– –
-3,900
Closed -$546K
IYM icon
1025
iShares US Basic Materials ETF
IYM
$1.17B
– –
-1,872
Closed -$262K
39 40
41
42 43

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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.