Belvedere Trading LLC

CIK

1632341

Location

CHICAGO, IL

Portfolio Value

Large $85,948,458,576

Diversification

Highly concentrated

Filing Date

Global Rank

#108 / 8,811 ▲ 13

Top Industry

Semiconductors 52.9%

Period ended 4 months ago

Filed Jul 31, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 85.0% of the book (60%+)

Turnover

High turnover

153.9% over the last four quarters (100%+)

Horizon

Medium horizon

Value-weighted holding period 6.1 quarters (4 to under 12)

Closest benchmark: the Nasdaq-100 as of 2026-06-30, active share 66.5%; sector active share 49.3% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

440 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

51.3%

−1.8 pts

Top 5

83.0%

−4.4 pts

Top 10

94.4%

−0.9 pts

HHI

2,932

Highly concentrated−245

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	69.2%	$59,504,401,807	296
Technology	20.6%	$17,734,702,482	50
Consumer Cyclical	8.8%	$7,567,578,581	12
Communication Services	1.1%	$956,222,271	12
Industrials	0.2%	$129,211,281	21
Financial Services	0.1%	$43,720,094	23
Healthcare	0.0%	$5,755,993	9
Basic Materials	0.0%	$4,814,381	8
Energy	0.0%	$1,542,195	6
Utilities	0.0%	$337,165	1
Real Estate	0.0%	$172,326	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SOXS	Direxion Daily Semiconductor Bear 3X Shares	+2,119,758	2,219,988	$0
NVDA	Nvidia Corp	+1,042,823	1,982,242	$396,626,801
SNXX	Tradr 2x Long SNDK Daily ETF	+333,539	360,328	$0
URA	Global X Uranium ETF	+190,971	221,436	$0
AMZN	Amazon Com Inc	+114,066	134,137	$31,970,212
DBB	Invesco Db Base Metals Fund	+83,119	92,031	$2,217,947
SCO		+80,459	100,577	$3,522,206
SIL	Global X Silver Miners ETF	+54,285	173,824	$0
VXX		+52,786	89,418	$1,975,243
SNDK	Sandisk Corp	+47,861	54,196	$123,227,071
IYW	iShares, Inc.	+41,533	52,411	$13,219,626
NVDX	T-Rex 2X Long NVIDIA Daily Target ETF	+38,921	40,118	$0
MSTR	Strategy Inc	+36,082	346,855	$30,152,105
BITI	ProShares Short Bitcoin ETF	+35,312	49,368	$1,433,153
DLLL	GraniteShares 2x Long DELL Daily ETF	+33,547	36,437	$909,467
BNO	United States Brent Oil Fund, LP	+30,524	50,148	$2,040,522
PALL	abrdn Palladium ETF Trust	+26,652	28,567	$630,759
BITU	ProShares Ultra Bitcoin ETF	+20,584	34,802	$282,592
IAUI	NEOS Gold High Income ETF	+20,059	21,021	$1,018,467
USO	United States Oil Fund, LP	+18,095	18,829	$2,004,158
CDE	Coeur Mining, Inc.	+12,915	40,946	$668,238
COPX	Global X Copper Miners ETF	+12,595	35,295	$0
RKT	Rocket Companies, Inc.	+10,618	18,047	$284,240
AVL	Direxion Daily AVGO Bull 2X Shares	+9,372	16,392	$0
UGA	United States Gasoline Fund, LP	+8,727	10,371	$1,067,901
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
IBIT	iShares Bitcoin Trust ETF	−917,748	357,726	$11,908,698
SLVP	iShares Trust	−120,681	36,929	$0
META	Meta Platforms, Inc.	−104,799	43,251	$24,362,855
SOXL	Direxion Daily Semiconductor Bull 3X Shares	−56,198	26,828	$0
SILJ		−47,893	396	$10,264
COYY	GraniteShares YieldBOOST COIN ETF	−42,018	656	$11,788
AMD	Advanced Micro Devices Inc	−38,543	29,315	$17,029,376
IRE	Defiance Daily Target 2x Long Iren ETF	−34,247	800	$0
AAPU	Direxion Daily AAPL Bull 2X Shares	−26,047	37,115	$0
GLD	Spdr Gold Trust	−23,471	54,830	$20,198,275
SPXU	ProShares UltraPro Short S&P500	−21,972	7,439	$275,763
PSQ	ProShares Short QQQ	−17,740	8,839	$221,505
ASTX	Tradr 2X Long ASTS Daily ETF	−15,240	11,040	$0
NVDD	Direxion Daily NVDA Bear 1X Shares	−12,643	6,066	$0
ICOP	iShares Copper and Metals Mining ETF	−12,350	15,587	$0
CWVX	Tradr 2X Long CRWV Daily ETF	−11,057	1,344	$0
HIMZ	Defiance Daily Target 2x Long Hims ETF	−10,069	283	$0
PPA	Victory Portfolios II	−9,988	6	$1,059
PRTH	Priority Technology Holdings, Inc.	−8,309	2,828	$18,862
OILK	ProShares K-1 Free Crude Oil ETF	−8,084	22,195	$1,054,040
SMCX	Defiance Daily Target 2x Long Smci ETF	−7,216	19,400	$0
OKLL	Defiance Daily Target 2x Long Oklo ETF	−7,151	3,874	$0
YMAX	YieldMax(R) Universe Fund of Option Income ETFs	−6,297	18,029	$0
TNA	Direxion Daily Small Cap Bull 3X Shares	−6,038	7,557	$0
AMZU	Direxion Daily AMZN Bull 2X Shares	−5,924	3,652	$0
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
MU	Micron Technology Inc	130,028	$150,090,020
INTC	Intel Corp	362,460	$50,610,289
TSLA	Tesla, Inc.	109,423	$46,023,313
AAPL	Apple Inc.	94,232	$27,266,971
AVGO	Broadcom Inc.	62,009	$23,423,899
SMCI	Super Micro Computer, Inc.	222,038	$6,512,374
—		93,789	$4,397,766
NASA	Tema Etfs LLC	123,836	$3,762,137
SPMO	Invesco Ltd.	19,547	$3,157,622
CRAK	VanEck Oil Refiners ETF	68,199	$3,142,609
UCO		87,430	$2,880,818
NUKZ	Range Nuclear Renaissance Index ETF	28,569	$1,947,263
EUV		55,693	$1,781,062
AGL	agilon health, inc.	15,023	$1,610,165
VWOB	VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND	21,398	$1,438,801
GDX	VanEck Gold Miners ETF	18,835	$1,421,100
DIA	Spdr Dow Jones Industrial Average ETF Trust	2,339	$1,221,870
FDX	Fedex Corp	3,840	$1,202,419
KLAC	Kla Corp	3,687	$1,112,404
NWPX	NWPX Infrastructure, Inc.	6,666	$999,500
VPL	VANGUARD PACIFIC STOCK INDEX FUND	8,579	$992,504
ETHD	ProShares UltraShort Ether ETF	10,136	$941,735
EMXC	iShares MSCI Emerging Markets ex China ETF	8,310	$850,113
AAOX	Investment Managers Series Trust II	26,528	$838,550
VTWG	VANGUARD RUSSELL 2000 GROWTH INDEX FUND	2,890	$831,395
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
SPY	Spdr S&P 500 ETF Trust	273,804	$178,065,693
—		378,924	$22,424,722
SLV	iShares Silver Trust	241,388	$16,448,178
PLTR	Palantir Technologies Inc.	54,016	$7,901,460
ETHA	iShares Ethereum Trust ETF	95,822	$1,516,862
PTNQ	Pacer Trendpilot 100 ETF	20,333	$1,483,495
SIVR	abrdn Silver ETF Trust	17,549	$1,256,683
NLR	VanEck Uranium and Nuclear ETF	8,183	$1,089,893
CRWV	CoreWeave, Inc.	13,907	$1,077,375
EEM	iShares MSCI Emerging Markets ETF	15,753	$894,612
LITE	Lumentum Holdings Inc.	1,248	$877,044
—		29,983	$852,416
BOIL		21,604	$696,512
BNT	Brookfield Wealth Solutions Ltd.	11,796	$488,354
XLF	State Street Corp	9,497	$468,866
CAIE	Calamos Autocallable Income ETF	18,337	$460,992
IAU	Ishares Gold Trust	4,562	$402,185
DXJ	WisdomTree Japan Hedged Equity Fund	2,381	$377,578
BWET		3,827	$376,959
GDXD		8,837	$364,614
GDXU		1,796	$361,696
AAAU	Goldman Sachs Physical Gold ETF	7,780	$359,358
PONY	Pony AI Inc.	37,948	$358,229
KOLD		15,878	$344,711
—		23,938	$332,259
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

440 tracked positions · $85,948,458,576 total · filing declares 1,038 positions · $87,612,631,382 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 440 positions by value · page 1 of 9

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT CALL	Added	58,987,100	+6,573,796	$44,049,796,667	+29.2%	—	—	51.25%
QQQ	Invesco Qqq Trust, Series 1 PUT CALL	Added	13,155,600	+809,100	$9,687,783,840	+35.9%	—	—	11.27%
NVDA	Nvidia Corp PUT CALL + SHARES Technology	Reduced	33,299,242	-5,712,677	$6,662,845,331	−2.1%	12	unpriced	7.75%
TSLA	Tesla, Inc. PUT CALL + SHARES Consumer Cyclical	Reduced	15,693,323	-2,491,677	$6,600,611,653	−2.4%	1	$397.72	7.68%
SMH	VanEck Semiconductor ETF PUT CALL	Added	6,603,300	+2,974,100	$4,331,038,437	+211.3%	—	—	5.04%
MU	Micron Technology Inc PUT CALL + SHARES Technology	Added	2,559,528	+2,551,128	$2,954,437,575	+104008.1%	1	$749.89	3.44%
AMD	Advanced Micro Devices Inc PUT CALL + SHARES Technology	Added	4,774,715	+1,034,657	$2,773,679,690	+264.6%	7	$143.89	3.23%
SNDK	Sandisk Corp PUT CALL + SHARES Technology	Added	741,796	+683,561	$1,686,643,819	+4458.6%	3	$1,284.05	1.96%
AAPL	Apple Inc. PUT CALL + SHARES Technology	Added	4,393,132	+323,832	$1,271,196,675	+23.1%	1	$286.04	1.48%
AVGO	Broadcom Inc. PUT CALL + SHARES Technology	Added	2,885,809	+360,509	$1,090,114,349	+39.5%	1	$400.96	1.27%
AMZN	Amazon Com Inc PUT CALL + SHARES Consumer Cyclical	Added	4,013,737	+425,766	$956,634,076	+28.0%	11	$242.21	1.11%
META	Meta Platforms, Inc. PUT CALL + SHARES Communication Services	Reduced	1,690,351	-580,799	$952,157,814	−26.7%	2	$640.86	1.11%
GLD	Spdr Gold Trust PUT CALL + SHARES	Reduced	1,659,730	-1,210,771	$611,411,337	−50.5%	3	$398.89	0.71%
INTC	Intel Corp PUT CALL + SHARES Technology	Added	3,253,160	+3,218,160	$454,238,730	+29309.1%	1	$101.12	0.53%
PLTR	Palantir Technologies Inc. PUT CALL Technology	Reduced	3,163,500	-342,916	$369,085,545	−28.0%	—	—	0.43%
MSTR	Strategy Inc PUT CALL + SHARES Technology	Added	3,382,355	+107,282	$294,028,120	−28.1%	9	$206.00	0.34%
SLV	iShares Silver Trust PUT CALL	Reduced	4,533,400	-1,765,688	$242,400,898	−43.5%	—	—	0.28%
IBIT	iShares Bitcoin Trust ETF PUT CALL + SHARES	Reduced	7,061,826	-1,344,048	$235,088,187	−27.2%	7	$51.59	0.27%
SPCX	Space Exploration Technologies Corp PUT CALL Industrials	NEW	680,800	NEW	$116,321,488	NEW	—	—	0.14%
SMCI	Super Micro Computer, Inc. PUT CALL + SHARES Technology	Reduced	3,440,538	-2,802,562	$100,910,979	−29.0%	1	$31.86	0.12%
CBRS	Cerebras Systems Inc. PUT CALL Technology	NEW	228,200	NEW	$50,432,200	NEW	—	—	0.06%
IYW	iShares, Inc. PUT + SHARES	Added	181,011	+147,233	$45,656,404	+645.0%	2	$222.13	0.05%
MULL	GraniteShares 2x Long MU Daily ETF PUT CALL	Added	812,400	+784,348	$29,912,568	—	—	—	0.03%
XSD	State Street(R) SPDR(R) S&P(R) Semiconductor ETF PUT CALL	Added	26,900	+22,135	$16,777,530	+979.7%	—	—	0.02%
EWZ	iShares MSCI Brazil ETF PUT CALL + SHARES	NEW	391,294	NEW	$13,499,643	NEW	1	$37.37	0.02%
USO	United States Oil Fund, LP PUT CALL + SHARES	Added	108,829	+104,095	$11,583,758	+1822.9%	2	$129.38	0.01%
VOOG	VANGUARD S&P 500 GROWTH INDEX FUND PUT CALL	Added	104,800	+88,200	$8,658,576	+27.9%	—	—	0.01%
CRCL	Circle Internet Group, Inc. PUT CALL Financial Services	Reduced	137,600	-23,100	$8,617,888	−43.8%	—	—	0.01%
PSI	Victory Portfolios II PUT CALL	Added	43,600	+37,500	$8,188,952	+1322.4%	—	—	0.01%
ASST	Strive, Inc. PUT CALL + SHARES Financial Services	Added	746,607	+688,070	$8,145,482	+1288.7%	2	unpriced	0.01%
XLE	State Street(R) Energy Select Sector SPDR(R) ETF CALL	NEW	151,900	NEW	$8,067,409	NEW	—	—	0.01%
NASA	Tema Etfs LLC PUT CALL + SHARES	NEW	255,136	NEW	$7,751,031	NEW	1	$31.95	0.01%
AMDW	Roundhill AMD WeeklyPay ETF PUT CALL	NEW	61,600	NEW	$7,074,144	NEW	—	—	0.01%
BNO	United States Brent Oil Fund, LP PUT CALL + SHARES	Added	163,348	+135,724	$6,646,630	+362.6%	2	$45.55	0.01%
VWOB	VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND PUT + SHARES	NEW	98,798	NEW	$6,643,177	NEW	1	$66.83	0.01%
AAOX	Investment Managers Series Trust II PUT CALL + SHARES	NEW	206,228	NEW	$6,518,867	NEW	1	unpriced	0.01%
COIN	Coinbase Global, Inc. PUT CALL + SHARES Financial Services	Reduced	44,039	-25,136	$6,438,061	−46.7%	3	$297.98	0.01%
FDX	Fedex Corp PUT CALL + SHARES Industrials	NEW	16,540	NEW	$5,179,170	NEW	1	unpriced	0.01%
XSW	State Street(R) SPDR(R) S&P(R) Software & Services ETF PUT CALL + SHARES	Added	29,123	+5,824	$5,003,622	+50.9%	2	$161.10	0.01%
MVLL	GraniteShares 2x Long MRVL Daily ETF PUT CALL + SHARES	NEW	82,285	NEW	$4,723,159	NEW	1	unpriced	0.01%
	PUT CALL + SHARES	NEW	99,189	NEW	$4,650,972	NEW	1	$42.37	0.01%
SPMO	Invesco Ltd. PUT CALL + SHARES Financial Services	NEW	28,147	NEW	$4,546,866	NEW	1	$140.96	0.01%
SCO	PUT CALL + SHARES	Added	121,577	+101,459	$4,257,626	+535.9%	2	unpriced	0.00%
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND PUT CALL + SHARES	Added	34,708	+30,392	$4,148,300	—	2	unpriced	0.00%
WDC	Western Digital Corp PUT CALL + SHARES Technology	Added	6,298	+257	$4,022,658	+146.2%	4	$340.77	0.00%
REMX	VanEck Rare Earth and Strategic Metals ETF PUT CALL + SHARES	Reduced	43,534	-22,716	$3,852,759	−33.9%	2	$90.02	0.00%
DIA	Spdr Dow Jones Industrial Average ETF Trust PUT + SHARES	NEW	7,339	NEW	$3,833,820	NEW	1	$499.41	0.00%
BITI	ProShares Short Bitcoin ETF PUT CALL + SHARES	Added	130,468	+67,612	$3,787,486	—	3	unpriced	0.00%
CVNA	Carvana Co. PUT CALL + SHARES Consumer Cyclical	Added	57,493	+45,193	$3,784,189	−2.1%	1	unpriced	0.00%
AGL	agilon health, inc. PUT CALL + SHARES Healthcare	NEW	327,923	NEW	$3,518,401	NEW	1	$65.50	0.00%

Showing the top 50 of 440 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.