BT

Belvedere Trading LLC

Sector-focusedMomentum followerConcentrated strategy

Total reported value

$84.4B

Reporting period: 2026-03-31 · Number of holdings: 731

Belvedere Trading LLC disclosed 731 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $84.4B and a quarterly turnover rate of 23.3%.

Personality snowflake

Concentration
93.35
Portfolio Stability
23.29
Momentum/Contrarian
100
Sector conviction
100
Diversification
100
Sizing Uniformity
11.48

Recent moves

  • Add SPY

    +13.7%　$2.6B

  • Add ES

    +23.5%　$2.9B

  • Trim TSLA

    -23.2%　-$3.9B

  • Trim NVDA

    -24.7%　-$2.9B

  • Trim META

    -33.9%　-$968.6M

  • Trim AMD

    -36.1%　-$492.3M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 339 holdings (of 731 total)

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1SPYSs Spdr S&p 500 ETF Trust-usETF-Large Cap & Growth51.68%+6.60%+13.66%
2QQQInvesco Qqq Trust Series 1ETF-Tech10.81%-0.43%-8.16%
3NVDANvidia CORPStock-Tech10.32%-2.32%-24.69%
4TSLATesla INCStock-Consumer Disc10.25%-3.42%-23.16%
5IWMIshares Russell 2000 ETFETF-Small Cap2.14%-0.17%-18.29%
6SMHVaneck Semiconductor ETFETF-Other2.11%+0.10%-9.52%
7METAMeta Platforms Inc-class AStock-Comm Services1.97%-0.90%-33.90%
8GLDSpdr Gold SharesETF-Commodities1.87%+0.22%-1.26%
9AAPLApple INCStock-Tech1.57%-0.44%-28.26%
10AVGOBroadcom INCStock-Tech1.19%-0.24%-19.93%
11AMDAdvanced Micro DevicesStock-Tech1.15%-0.45%-36.08%
12AMZNAmazon.com INCStock-Consumer Disc1.13%-0.30%-24.69%
13PLTRPalantir Technologies Inc-aStock-Tech0.78%-0.10%-5.22%
14SLVIshares Silver TrustETF-Commodities0.65%+0.26%+77.65%
15MSTRStrategy INCStock-Tech0.62%-0.19%-19.87%
16IBITIshares Bitcoin Trust ETFETF-Crypto0.49%+0.02%+25.76%
17ESEversource EnergyStock-Utilities0.28%+5.12%+23.52%
18SMCISuper Micro Computer INCStock-Tech0.22%-0.08%-20.68%
19MQMarqeta Inc-aStock-Other0.07%+0.02%+63.93%
20RTORentokil Initial Plc-sp AdrStock-Other0.06%-0.01%-31.45%
21SNDKSandisk CORPStock-Tech0.06%+0.03%+28.12%
22SILGlobal X Silver Miners ETFETF-Commodities0.04%+0.01%+40.03%
23SLVRSprott Slvr Miner & Phy SlvrETF-Other0.04%+0.01%+12.94%
24CRCLCircle Internet Group INCStock-Financials0.02%—-12.93%
25COINCoinbase Global INC -class AStock-Financials0.02%-0.01%-9.38%
26SIVRAbrdn Physical Silver SharesETF-Commodities0.01%+0.01%+119.05%
27VOOGVanguard S&p 500 Growth ETFETF-Large Cap & Growth0.01%—-25.56%
28ITAIshares U.s. Aerospace & DefETF-Other0.01%+0.01%+749.64%
29IYWIshares Ustechnology ETFETF-Tech0.01%+0.01%NEW
30SILJAmplify Junior Silver MinersETF-Commodities0.01%—+85.72%
31SLVPIshares Msci Global Silver AETF-Commodities0.01%—+17.01%
32REMXVaneck Rar Earth Nd Stg-usdiETF-Other0.01%+0.01%+211.03%
33SNXXTradr 2x Long Sndk Daily ETFETF-Other0.01%+0.01%NEW
34PPAInvesco Aerospace & DefenseETF-Other0.01%+0.01%+663.00%
35VUGVanguard Growth ETFETF-Other0.01%—+19.59%
36NVDXT-rex 2x Lng Nvidia Dly TrgtETF-Other0.01%—-35.12%
37KORUDirexion Dly M Sk Bull 3x-uiETF-Other0.01%—+105.57%
38SOXSDirex Dai Semi Be 3x Etf-usdETF-Other0.01%—NEW
39SOXLDirex Dail Semi Bu 3x Et-usdETF-Other0.01%——
40URAGlobal X Uranium ETFETF-Other0.01%—+127.78%
41PALLAbrdn Physical Palladium ShsETF-Commodities0.01%—-12.95%
42CVNACarvana CoStock-Consumer Disc0.01%-0.02%-64.14%
43SQQQProshares Ultrapro Short QqqETF-Other0.01%—+125.18%
44EEMIshares Msci Emerging MarketETF-Emerging Markets0.01%——
45OILKPros K-1 Free Cr Oil Etf-usdETF-Other0.01%——
46XSWSs Spdr S&p Soft & Serv ETFETF-Other0.01%—+529.70%
47THDIshares Msci Thailand ETFETF-Other———
48COPXGlobal X Copper Miners ETFETF-Other——-56.92%
49IONQIonq INCStock-Tech——+635.17%
50VGTVanguard Info Tech ETFETF-Tech——+79.83%
1–50 of 339

Holding changes this quarter

Belvedere Trading LLC's most significant position changes for 2026-03-31: Sold out: Southern Co/the (SO); Sold out: Direxion Dly Ftse Ch Bl3x-ui (YINN); Sold out: Novartis Ag-sponsored Adr (NVS); Sold out: Proshares Ultra Silver (AGQ); Sold out: 2x Bitcoin Strategy ETF (BITX).

Position changes disclosed by Belvedere Trading LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1SPYSs Spdr S&p 500 ETF Trust-us+6.6%+13.66%Add
2ESEversource Energy+5.1%+23.52%Add
3SLVIshares Silver Trust+0.3%+77.65%Add
4GLDSpdr Gold Shares+0.2%-1.26%Trim
5SMHVaneck Semiconductor ETF+0.1%-9.52%Trim
6SNDKSandisk CORP0%+28.12%Add
7MQMarqeta Inc-a0%+63.93%Add
8IBITIshares Bitcoin Trust ETF0%+25.76%Add
9SILGlobal X Silver Miners ETF0%+40.03%Add
10ITAIshares U.s. Aerospace & Def0%+749.64%Add
11SIVRAbrdn Physical Silver Shares0%+119.05%Add
12REMXVaneck Rar Earth Nd Stg-usdi0%+211.03%Add
13PPAInvesco Aerospace & Defense0%+663.00%Add
14SLVRSprott Slvr Miner & Phy Slvr0%+12.94%Add
15NVDXT-rex 2x Lng Nvidia Dly Trgt—-35.12%Trim
16RTORentokil Initial Plc-sp Adr0%-31.45%Trim
17KWEBKranesh Csi China Internet0%-90.74%Trim
18NLRVaneck Urani & Nuclr Etf-usd0%-75.83%Trim
19GDXJVaneck Junior Gold Miners0%-95.02%Trim
20AVLDirex Dai Av Bull 2x Etf-usd0%-87.20%Trim
21ASTXTradr 2x Long Asts Daily ETF0%-65.26%Trim
22COINCoinbase Global INC -class A0%-9.38%Trim
23PPLTAbrdn Physical Platinum Shrs0%-86.37%Trim
24CWEBDirxn Dly Csi Cii B2x Etf-ui0%-92.05%Trim
25BABAAlibaba Group Holding-sp Adr0%-83.95%Trim
26SBITProshares Ultrashort Bitcoin0%-95.79%Trim
27CVNACarvana Co0%-64.14%Trim
28WDCWestern Digital CORP0%-96.93%Trim
29SMCISuper Micro Computer INC-0.1%-20.68%Trim
30PLTRPalantir Technologies Inc-a-0.1%-5.22%Trim
31IWMIshares Russell 2000 ETF-0.2%-18.29%Trim
32MSTRStrategy INC-0.2%-19.87%Trim
33AVGOBroadcom INC-0.2%-19.93%Trim
34AMZNAmazon.com INC-0.3%-24.69%Trim
35QQQInvesco Qqq Trust Series 1-0.4%-8.16%Trim
36AAPLApple INC-0.4%-28.26%Trim
37AMDAdvanced Micro Devices-0.5%-36.08%Trim
38METAMeta Platforms Inc-class A-0.9%-33.90%Trim
39NVDANvidia CORP-2.3%-24.69%Trim
40TSLATesla INC-3.4%-23.16%Trim
41SOSouthern Co/the—EXITSold out
42YINNDirexion Dly Ftse Ch Bl3x-ui—EXITSold out
43NVSNovartis Ag-sponsored Adr—EXITSold out
44AGQProshares Ultra Silver—EXITSold out
45BITX2x Bitcoin Strategy ETF—EXITSold out
46IYWIshares Ustechnology ETF—NEWNew buy
47FNGGDirexion Daily Nyse Fang+ Bu—EXITSold out
48SNXXTradr 2x Long Sndk Daily ETF—NEWNew buy
49UBERUber Technologies INC—EXITSold out
50SOXSDirex Dai Semi Be 3x Etf-usd—NEWNew buy

FAQ

What is Belvedere Trading LLC and what type of investor is it?
Belvedere Trading LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $84.4B, spread across 731 disclosed positions.
What are Belvedere Trading LLC's largest equity positions?
Based on the latest 13F filing, Belvedere Trading LLC's top holdings by market value are: 1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $34.1B (51.7%) 2. Invesco Qqq Trust Series 1 (QQQ) — $7.1B (10.8%) 3. Nvidia CORP (NVDA) — $6.8B (10.3%) 4. Tesla INC (TSLA) — $6.8B (10.3%) 5. Ishares Russell 2000 ETF (IWM) — $1.4B (2.1%)
What changes did Belvedere Trading LLC make in its most recent portfolio filing?
In the latest reported quarter, Belvedere Trading LLC made 50 notable position adjustments: 3 new positions were initiated, 12 existing holdings were added to, 28 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Southern Co/the (SO); Sold out: Direxion Dly Ftse Ch Bl3x-ui (YINN); Sold out: Novartis Ag-sponsored Adr (NVS); Sold out: Proshares Ultra Silver (AGQ); Sold out: 2x Bitcoin Strategy ETF (BITX)
What sectors does Belvedere Trading LLC focus on?
Belvedere Trading LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Utilities: 49.1% • Information Technology: 27.6% • Consumer Discretionary: 19.8% • Communication Services: 3.4% • Financials: 0.1% • Materials: 0.0%