Belvedere Trading LLC

Q1 2025 13F-HR Holdings

Location
Chicago, IL
Holdings as of
3/31/2025
Date filed
5/9/2025
Form type
13F-HR
Num holdings
681
Total value ($000)
$88,712,486
Net value change ($000)
+5,869,229 (7.1%)
New positions
97
Sold out positions
138
Turnover %
36.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 1/31/2025 Next filing: 8/1/2025 SEC filing

Snapshot: Change Analysis

Compared to Q4 2024
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
MSTR 176,473 215.1%
SPY 141,953 77.3%
IWM 35,602 819.4%
META 21,825 58.2%
AVGO 20,864 NEW
AAPL 20,344 NEW
AMZN 7,815 30.6%
VOO 5,963 399.1%
SOXL 2,040 NEW
SOXS 2,015 40300.0%
Top Reduces (Value $000, Stocks/ETFs)
NVDA -173,464 -39.4%
SMH -145,690 -100.0%
QQQ -136,180 -100.0%
AMD -34,044 -40.5%
SMCI -17,873 -100.0%
NVDL -12,567 -92.9%
T-REX 2X LONG MSTR DAILYTARGET ETF -11,290 -97.1%
GE -9,341 -100.0%
VOOG -6,422 -91.3%
TSLA -5,114 -32.9%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 87,559,260 (98.7% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type