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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
(+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% |
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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.