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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
+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
Cap. Flow
-$9.32B
Cap. Flow %
-10%
Top 10 Hldgs %
81.34%
Holding
1,246
New
362
Increased
207
Reduced
237
Closed
397

Top Buys

Rank Stock Value
1
SMCI icon
Super Micro Computer
SMCI
+$32.9M
2
GLD icon
SPDR Gold Trust
GLD
+$22.2M
3
MSTR icon
Strategy Inc
MSTR
+$17.7M
4
WDC icon
Western Digital
WDC
+$11.4M
5
PLTR icon
Palantir
PLTR
+$9.83M

Top Sells

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$188M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$171M
3
NVDA icon
NVIDIA
NVDA
+$145M
4
AVGO icon
Broadcom
AVGO
+$96.9M
5
IBIT icon
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
BIDU icon
176
PUT
Baidu
BIDU
$37.7B
$1.08M ﹤0.01%
8,300
+6,600
+388% +$819K
CRWV
177
CALL
CoreWeave
CRWV
$39.2B
$1.06M ﹤0.01%
14,800
+5,400
+57% +$548K
APLX
178
CALL
Tradr 2X Long APLD Daily ETF
APLX
$55.8M
$1.06M ﹤0.01%
62,400
+54,900
+732% +$1.6M
BTCI
179
NEOS Bitcoin High Income ETF
BTCI
$1.08B
$1.05M ﹤0.01%
+23,825
New +$1.23M
HYG icon
180
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$1.04M ﹤0.01%
+12,874
New +$1.04M
IVES
181
Dan IVES Wedbush AI Revolution ETF
IVES
$1,000M
$1.04M ﹤0.01%
32,825
-16,883
-34% -$553K
HOOW
182
Roundhill HOOD WeeklyPay ETF
HOOW
$98.3M
$1.03M ﹤0.01%
+21,665
New +$1.38M
SCHB icon
183
Schwab US Broad Market ETF
SCHB
$43.2B
$1.03M ﹤0.01%
39,154
-18,800
-32% -$489K
VRT icon
184
Vertiv
VRT
$93B
$1.01M ﹤0.01%
6,254
-1,651
-21% -$287K
SOXQ icon
185
CALL
Invesco PHLX Semiconductor ETF
SOXQ
$2.28B
$1.01M ﹤0.01%
+18,100
New +$991K
TEM
186
PUT
Tempus AI
TEM
$7.92B
$1M ﹤0.01%
17,000
-500
-3% -$39.1K
ITUB icon
187
CALL
Itaú Unibanco
ITUB
$93.2B
$1M ﹤0.01%
139,834
+137,001
+4,836% +$974K
ASTS icon
188
AST SpaceMobile
ASTS
$17.6B
$966K ﹤0.01%
+13,305
New +$949K
FTEC icon
189
CALL
Fidelity MSCI Information Technology Index ETF
FTEC
$19.8B
$966K ﹤0.01%
+4,300
New +$974K
J icon
190
PUT
Jacobs Solutions
J
$15.9B
$959K ﹤0.01%
7,200
+7,000
+3,500% +$1.03M
MARA icon
191
CALL
Marathon Digital Holdings
MARA
$4.32B
$955K ﹤0.01%
106,300
-53,300
-33% -$786K
WPC icon
192
PUT
W.P. Carey
WPC
$16.8B
$953K ﹤0.01%
+14,400
New +$959K
CDE icon
193
Coeur Mining
CDE
$15.4B
$952K ﹤0.01%
53,370
+40,573
+317% +$706K
MU icon
194
Micron Technology
MU
$930B
$936K ﹤0.01%
+3,279
New +$752K
ARKQ icon
195
CALL
ARK Autonomous Technology & Robotics ETF
ARKQ
$1.9B
$929K ﹤0.01%
+8,100
New +$934K
SLVR
196
PUT
Sprott Silver Miners & Physical Silver ETF
SLVR
$609M
$926K ﹤0.01%
16,600
+14,700
+774% +$701K
SHV icon
197
iShares 0-1 Year Treasury Bond ETF
SHV
$20.8B
$924K ﹤0.01%
+8,393
New +$925K
ETHT
198
ProShares Ultra Ether ETF
ETHT
$192M
$912K ﹤0.01%
24,268
-7,134
-23% -$418K
BMNR
199
PUT
BitMine Immersion Technologies
BMNR
$10.4B
$899K ﹤0.01%
+33,100
New +$1.34M
MTUM icon
200
iShares MSCI USA Momentum Factor ETF
MTUM
$25B
$897K ﹤0.01%
+3,585
New +$900K
6 7
8
9 10

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Focus Partners Wealth
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Qube Research & Technologies (QRT)
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Squarepoint
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Sanders Capital
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Mackenzie Financial
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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.