Belvedere Trading LLC

Q4 2025 13F-HR Holdings

Location
Chicago, IL
Holdings as of
12/31/2025
Date filed
2/10/2026
Form type
13F-HR
Num holdings
857
Total value ($000)
$93,116,093
Net value change ($000)
+6,263,055 (7.2%)
New positions
147
Sold out positions
151
Turnover %
73.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/27/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 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)
GLD 23,038 NEW
SMCI 14,858 67.9%
WDC 13,327 1781.7%
SLV 12,161 NEW
PLTR 9,377 86.3%
KWEB 7,991 NEW
SIL 7,225 572.5%
YINN 6,969 NEW
SNDK 6,446 NEW
SLVR 6,092 46.0%
Top Reduces (Value $000, Stocks/ETFs)
TSLA -188,310 -100.0%
SPY -168,073 -92.0%
NVDA -145,415 -83.6%
IBIT -116,131 -77.3%
AVGO -87,920 -74.2%
QQQ -31,458 -37.4%
AMD -16,980 -27.0%
AMZN -16,723 -76.3%
AAPL -16,371 -100.0%
META -15,703 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 92,575,916 (99.4% 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