Belvedere Trading LLC

Q3 2025 13F-HR Holdings

Location
Chicago, IL
Holdings as of
9/30/2025
Date filed
10/27/2025
Form type
13F-HR
Num holdings
888
Total value ($000)
$86,853,038
Net value change ($000)
+1,367,685 (1.6%)
New positions
144
Sold out positions
110
Turnover %
22.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/1/2025 Next filing: 2/10/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
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)
TSLA 181,002 2476.8%
SPY 117,639 180.6%
AVGO 58,898 98.7%
IBIT 54,483 56.9%
QQQ 30,114 55.9%
AAPL 10,973 203.3%
PLTR 10,867 NEW
SLVR 10,727 427.4%
GE 6,484 NEW
AMZN 4,077 22.9%
Top Reduces (Value $000, Stocks/ETFs)
MSTR -351,069 -92.5%
SMH -105,500 -100.0%
GLD -33,680 -100.0%
SMCI -23,211 -51.5%
IWM -17,862 -44.9%
PPLT -10,801 -100.0%
SLV -6,112 -100.0%
EFA -4,674 -90.5%
EEM -4,021 -100.0%
PALL -2,908 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 85,607,693 (98.6% 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