Belvedere Trading LLC
13F Reported Value
ⓘ$87.6B
incl. option notional
Equity Holdings
ⓘ$1.2B
Option Notional
ⓘ$86.4B
$46.1B puts / $40.3B calls
Holdings
1,038
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
Belvedere Trading LLC disclosed 1,038 positions worth $87.6B in its Form 13F-HR for Q2 2026 — $1.2B in common stock plus $86.4B of put/call option positions (reported at underlying notional value, not premium at risk), led by $SPY (SPDR S&P 500 ETF TRUST) puts, followed by $SPY and $QQQ. During the quarter the fund opened 597 new positions and exited 294 — including a new stake in $INTC and a full exit from $ES. The portfolio is most concentrated in Technology (69.6% of disclosed assets). All figures are sourced directly from Belvedere Trading LLC’s Form 13F-HR filing with the SEC under CIK 1632341.
AI Fund Analysis
Diversifying
$NVDA
$AMZN
$MSTR
$AMD$MSTR
$YMM$NVDA
$AAPLSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- —
Quality
$23.9B32,015,100 sh - —
Quality
$20.1B26,972,000 sh - $5.1B6,955,000 sh
- $4.6B6,200,600 sh
- 53.9
Quality
$3.4B8,185,500 sh - 85.9
Quality
$3.3B16,533,900 sh - 53.9
Quality
$3.1B7,398,400 sh - 85.9
Quality
$3.0B14,783,100 sh VANECK - ETF TRUST SEMICONDUCTR ETF PUT
—Quality
$2.8B4,282,600 sh- 86.2
Quality
$1.6B1,370,200 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 SPDR S&P 500 ETF TRUST$SPYPUT | — | $23.9B | 32,015,100 |
| SPDR S&P 500 ETF TRUST$SPYCALL | — | $20.1B | 26,972,000 |
 INVESCO QQQ TRUST, SERIES 1$QQQCALL | — | $5.1B | 6,955,000 |
| INVESCO QQQ TRUST, SERIES 1$QQQPUT | — | $4.6B | 6,200,600 |
 Tesla, Inc.$TSLAPUT | 53.9 | $3.4B | 8,185,500 |
| NVIDIA CORP$NVDAPUT | 85.9 | $3.3B | 16,533,900 |
| Tesla, Inc.$TSLACALL | 53.9 | $3.1B | 7,398,400 |
| NVIDIA CORP$NVDACALL | 85.9 | $3.0B | 14,783,100 |
| VANECK - ETF TRUST SEMICONDUCTR ETF PUT | — | $2.8B | 4,282,600 |
 MICRON TECHNOLOGY INC$MUCALL | 86.2 | $1.6B | 1,370,200 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Belvedere Trading LLC's 1,038 positions.
Showing top 10 of 1,038 holdings.
Sector Allocation
Technology
$836.0M
Other
$196.9M
Financials
$78.6M
Industrials
$51.9M
Consumer Discretionary
$32.5M
Healthcare
$2.2M
Materials
$1.9M
Utilities
$354,797
Top Holdings — Belvedere Trading LLC (Q2 2026)
Top 150 of 1,038 disclosed positions (by reported value) from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $SPYPUT | SPDR S&P 500 ETF TRUST | $23.9B | — | +23% | — |
| 2 | $SPYCALL | SPDR S&P 500 ETF TRUST | $20.1B | — | +3% | — |
| 3 | $QQQCALL | INVESCO QQQ TRUST, SERIES 1 | $5.1B | — | +3% | — |
| 4 | $QQQPUT | INVESCO QQQ TRUST, SERIES 1 | $4.6B | — | +11% | — |
| 5 | $TSLAPUT | Tesla, Inc. | $3.4B | — | -16% | 53.9 |
| 6 | $NVDAPUT | NVIDIA CORP | $3.3B | — | -15% | 85.9 |
| 7 | $TSLACALL | Tesla, Inc. | $3.1B | — | -12% | 53.9 |
| 8 | $NVDACALL | NVIDIA CORP | $3.0B | — | -21% | 85.9 |
| 9 | — | VANECK - ETF TRUST SEMICONDUCTR ETF | $2.8B | — | +100% | — |
| 10 | $MUCALL | MICRON TECHNOLOGY INC | $1.6B | — | NEW | 86.2 |
| 11 | — | VANECK - ETF TRUST SEMICONDUCTR ETF | $1.5B | — | +56% | — |
| 12 | $AMDPUT | ADVANCED MICRO DEVICES INC | $1.4B | — | +30% | 79.8 |
| 13 | $AMDCALL | ADVANCED MICRO DEVICES INC | $1.3B | — | +29% | 79.8 |
| 14 | $MUPUT | MICRON TECHNOLOGY INC | $1.2B | — | NEW | 86.2 |
| 15 |  $SNDKPUT | Sandisk Corp | $1.1B | — | +1060% | 87.7 |
| 16 | — | ISHARES - TR RUSSELL 2000 ETF | $834.4M | — | -22% | — |
| 17 | $AAPLPUT | Apple Inc. | $622.2M | — | +9% | 76.4 |
| 18 | $AAPLCALL | Apple Inc. | $621.8M | — | +3% | 76.4 |
| 19 |  $AVGOPUT | Broadcom Inc. | $611.1M | — | +15% | 84.5 |
| 20 |  $METACALL | Meta Platforms, Inc. | $552.6M | — | -19% | 79.6 |
| 21 | — | ISHARES - TR RUSSELL 2000 ETF | $504.6M | — | -18% | — |
| 22 | $SNDKCALL | Sandisk Corp | $503.2M | — | +1791% | 87.7 |
| 23 | $AMZNCALL | AMAZON COM INC | $491.9M | — | +1% | 68.7 |
| 24 | $AVGOCALL | Broadcom Inc. | $455.6M | — | +8% | 84.5 |
| 25 | $AMZNPUT | AMAZON COM INC | $432.7M | — | +20% | 68.7 |
| 26 | $NVDA | NVIDIA CORP | $396.6M | 33.0% | +111% | 85.9 |
| 27 | $METAPUT | Meta Platforms, Inc. | $375.2M | — | -27% | 79.6 |
| 28 |  $GLDPUT | SPDR GOLD TRUST | $328.0M | — | -32% | — |
| 29 | $GLDCALL | SPDR GOLD TRUST | $263.2M | — | -52% | — |
| 30 |  $INTCPUT | INTEL CORP | $225.8M | — | NEW | 45.6 |
| 31 |  $PLTRPUT | Palantir Technologies Inc. | $203.0M | — | -11% | 84.6 |
| 32 | $INTCCALL | INTEL CORP | $177.8M | — | +3539% | 45.6 |
| 33 | $PLTRCALL | Palantir Technologies Inc. | $166.1M | — | -5% | 84.6 |
| 34 | $MU | MICRON TECHNOLOGY INC | $150.1M | 12.5% | NEW | 86.2 |
| 35 |  $SLVCALL | iShares Silver Trust | $149.6M | — | -20% | — |
| 36 | $MSTRPUT | Strategy Inc | $144.8M | — | +8% | 17.9 |
| 37 | $SNDK | Sandisk Corp | $123.2M | 10.3% | +756% | 87.7 |
| 38 |  $IBITCALL | iShares Bitcoin Trust ETF | $123.0M | — | -2% | — |
| 39 | $MSTRCALL | Strategy Inc | $119.1M | — | -4% | 17.9 |
| 40 | $IBITPUT | iShares Bitcoin Trust ETF | $100.2M | — | -10% | — |
| 41 | $SLVPUT | iShares Silver Trust | $92.8M | — | -32% | — |
| 42 |  $SPCXCALL | SPACE EXPLORATION TECHNOLOGIES CORP | $65.6M | — | NEW | — |
| 43 |  $SMCIPUT | Super Micro Computer, Inc. | $51.2M | — | -29% | 62 |
| 44 | $SPCXPUT | SPACE EXPLORATION TECHNOLOGIES CORP | $50.7M | — | NEW | — |
| 45 | $INTC | INTEL CORP | $50.6M | 4.2% | NEW | 45.6 |
| 46 | $TSLA | Tesla, Inc. | $46.0M | 3.8% | NEW | 53.9 |
| 47 | $SMCICALL | Super Micro Computer, Inc. | $43.2M | — | -61% | 62 |
| 48 |  $CBRSCALL | Cerebras Systems Inc. | $41.1M | — | NEW | — |
| 49 | — | ISHARES TR U.S. - TECH ETF | $32.4M | — | +462% | — |
| 50 | $AMZN | AMAZON COM INC | $32.0M | 2.7% | +568% | 68.7 |
| 51 | $MSTR | Strategy Inc | $30.2M | 2.5% | +12% | 17.9 |
| 52 | $AAPL | Apple Inc. | $27.3M | 2.3% | NEW | 76.4 |
| 53 | — | ROUNDHILL - ETF TRUST MEMORY ETF | $25.0M | 2.1% | NEW | — |
| 54 | $META | Meta Platforms, Inc. | $24.4M | 2.0% | -71% | 79.6 |
| 55 | $AVGO | Broadcom Inc. | $23.4M | 1.9% | NEW | 84.5 |
| 56 | — | GRANITESHARES ETF TR 2X LO MU - DA ETF | $22.9M | — | +4192% | — |
| 57 | $GLD | SPDR GOLD TRUST | $20.2M | 1.7% | -30% | — |
| 58 | — | ISHARES TR MSCI - USA MMENTM | $19.8M | — | NEW | — |
| 59 | $AMD | ADVANCED MICRO DEVICES INC | $17.0M | 1.4% | -57% | 79.8 |
| 60 | — | DIREXION SHARES ETF TRUST DLY MU - BULL 2X | $15.8M | — | NEW | — |
| 61 | — | INVESTMENT MANAGERS SER TR I TRAD 2X - SNDK ETF | $15.2M | 1.3% | +1245% | — |
| 62 | — | SPDR SERIES TRUST ST STR - SP SEMI | $14.3M | — | +4480% | — |
| 63 | — | DIREXION SHARES ETF TRUST DLY MU - BULL 2X | $13.5M | — | NEW | — |
| 64 | — | GLOBAL X FDS GLOBAL - X SILVER | $13.5M | 1.1% | +45% | — |
| 65 | — | ISHARES TR U.S. - TECH ETF | $13.2M | 1.1% | +382% | — |
| 66 | — | ISHARES INC - MSCI BRAZIL ETF | $12.4M | — | NEW | — |
| 67 | $IBIT | iShares Bitcoin Trust ETF | $11.9M | 1.0% | -72% | — |
| 68 | — | DIREXION SHARES ETF TRUST DLY MU - BULL 2X | $11.0M | 0.9% | -25% | — |
| 69 | — | ROUNDHILL - ETF TRUST MEMORY ETF | $10.8M | — | NEW | — |
| 70 | $YMM | Full Truck Alliance Co. Ltd. | $9.7M | 0.8% | +627% | — |
| 71 | $CBRSPUT | Cerebras Systems Inc. | $9.4M | — | NEW | — |
| 72 | — | GLOBAL X FDS GLOBAL - X SILVER | $8.8M | — | +2% | — |
| 73 | — | INVESTMENT MANAGERS SER TR I TRAD 2X - SNDK ETF | $8.3M | — | +700% | — |
| 74 | — | DIREXION SHARES ETF TRUST DLY AAPL - BULL 2X | $8.1M | — | NEW | — |
| 75 | — | SELECT SECTOR SPDR TR ST - STR ENERG ETF | $8.1M | — | NEW | — |
| 76 | $YMMPUT | Full Truck Alliance Co. Ltd. | $7.8M | — | +253% | — |
| 77 |  $USOCALL | United States Oil Fund, LP | $7.5M | — | +1650% | — |
| 78 | — | DIREXION SHARES ETF TRUST DAI SEM - 3X ETF | $7.2M | 0.6% | +2115% | — |
| 79 | — | DIREXION SHARES ETF TRUST DAI SEM - BUL ETF | $7.2M | 0.6% | -68% | — |
| 80 |  $IVZCALL | Invesco Ltd. | $7.1M | — | +631% | — |
| 81 | — | GRANITESHARES ETF TR 2X LO MU - DA ETF | $7.0M | — | +1384% | — |
| 82 | $SMCI | Super Micro Computer, Inc. | $6.5M | 0.5% | NEW | 62 |
| 83 | — | ROUNDHILL ETF TRUST - AMD WEEKL ETF | $5.6M | — | NEW | — |
| 84 |  $WDCCALL | WESTERN DIGITAL CORP | $5.5M | — | -10% | 80.7 |
| 85 |  $SNPSPUT | SYNOPSYS INC | $5.2M | — | NEW | 67.9 |
| 86 | — | INVESTMENT MANAGERS SER TR I TRAD 2X - SNDK ETF | $5.2M | — | +40% | — |
| 87 | — | ETF OPPORTUNITIES TRUST T RE 2X - SNDK ETF | $5.2M | — | NEW | — |
| 88 |  $CRCLCALL | Circle Internet Group, Inc. | $4.9M | — | -27% | 67.5 |
| 89 | — | TIDAL TRUST II DEF LON - ION ETF | $4.6M | — | +163% | — |
| 90 | — | VANGUARD ADMIRAL FDS INC 500 GRTH - IDX F | $4.4M | — | +768% | — |
| 91 | — | KRANESHARES - TRUST PUBLIC-PRIVATE A | $4.4M | 0.4% | NEW | — |
| 92 |  $COINPUT | Coinbase Global, Inc. | $4.3M | — | +130% | 44.8 |
| 93 | — | VANGUARD ADMIRAL FDS INC 500 GRTH - IDX F | $4.2M | — | +390% | — |
| 94 | — | ISHARES INC CORE - MSCI EMKT | $4.0M | — | NEW | — |
| 95 | — | SPDR SERIES TRUST ST STR - SW SERV | $3.9M | — | +75% | — |
| 96 | — | INVESTMENT MANAGERS SER TR I TRADR - 2X LONG | $3.8M | — | NEW | — |
| 97 | — | TEMA - ETF TRUST SPACE INNOV ETF | $3.8M | 0.3% | NEW | — |
| 98 | $CRCLPUT | Circle Internet Group, Inc. | $3.7M | — | +10% | 67.5 |
| 99 | — | PROSHARES TR - II ULSHT BLOOMB OIL | $3.5M | 0.3% | NEW | — |
| 100 | — | ISHARES INC MSCI STH - KOR ETF | $3.5M | — | +121% | — |
| 101 | — | ISHARES - TR CHINA LG-CAP ETF | $3.4M | 0.3% | NEW | — |
| 102 | — | GRANITESHARES ETF TR 2X - LONG MRVL | $3.2M | — | NEW | — |
| 103 | $IVZ | Invesco Ltd. | $3.2M | 0.3% | NEW | — |
| 104 | — | VANECK ETF TRUST - OIL REFINERS ETF | $3.1M | 0.3% | NEW | — |
| 105 | — | GRANITESHARES ETF TR GRANITE - 2X LONG | $3.1M | — | NEW | — |
| 106 |  $BNOCALL | United States Brent Oil Fund, LP | $3.1M | — | +864% | — |
| 107 | — | ISHARES TR - CORE S&P500 ETF | $3.0M | 0.3% | +505% | — |
| 108 | — | PROSHARES TR II - ULTA BLMBG 2017 | $2.9M | 0.2% | NEW | — |
| 109 | — | ISHARES TR 20 YR TR - BD ETF | $2.8M | 0.2% | NEW | — |
| 110 | — | GLOBAL X FDS GLOBAL - X COPPER | $2.7M | 0.2% | +55% | — |
| 111 | — | NEOS ETF TRUST NEOS - S&P 500 HI | $2.7M | — | NEW | — |
| 112 | — | STATE STR SPDR DOW JONES IND UT - SER 1 | $2.6M | — | NEW | — |
| 113 |  $ALABCALL | Astera Labs, Inc. | $2.6M | — | NEW | 75.1 |
| 114 |  $FDXPUT | FEDEX CORP | $2.6M | — | NEW | 60.3 |
| 115 | — | VANGUARD WORLD FD COMM - SRVC ETF | $2.5M | — | NEW | — |
| 116 | — | ETF OPPORTUNITIES TRUST T REX - 2X LONG | $2.5M | — | -55% | — |
| 117 | — | SPDR SERIES TRUST ST STR - SP SEMI | $2.5M | — | -2% | — |
| 118 | — | SPROTT FDS - TR SILVER MINERS | $2.5M | — | +83% | — |
| 119 |  $COFCALL | CAPITAL ONE FINANCIAL CORP | $2.4M | — | +23% | 62.4 |
| 120 | — | ISHARES - TR EXPANDED TECH | $2.4M | — | NEW | — |
| 121 | $FDXCALL | FEDEX CORP | $2.3M | — | NEW | 60.3 |
| 122 | — | ENTREPRENEURSHARES SERIES TR ERSH PRI - PUB ETF | $2.2M | — | NEW | — |
| 123 | — | TEMA - ETF TRUST SPACE INNOV ETF | $2.2M | — | NEW | — |
| 124 |  $DBB | INVESCO DB BASE METALS FUND | $2.2M | 0.2% | +933% | — |
| 125 | $USOPUT | United States Oil Fund, LP | $2.1M | — | NEW | — |
| 126 | — | PROSHARES TR SHOR BITC - ET NEW | $2.1M | — | +140% | — |
| 127 |  $ASSTCALL | Strive, Inc. | $2.1M | — | +5921% | 39.8 |
| 128 | $BNO | United States Brent Oil Fund, LP | $2.0M | 0.2% | +156% | — |
| 129 | $USO | United States Oil Fund, LP | $2.0M | 0.2% | +2465% | — |
| 130 | — | VANGUARD WORLD FD INF - TECH ETF | $2.0M | — | +690% | — |
| 131 |  $CVNACALL | CARVANA CO. | $2.0M | — | +301% | 71.6 |
| 132 | — | TIDAL TRUST III VIST ARTI - IN ETF | $2.0M | — | NEW | — |
| 133 | — | BARCLAYS BANK PLC IPATH - S&P 500 SH | $2.0M | 0.2% | +144% | — |
| 134 | — | EXCHANGE TRADED CONCEPTS TRU RANG NUCL - RE ETF | $1.9M | 0.2% | NEW | — |
| 135 | — | TIDAL TRUST - II ROUNDHILL GENER | $1.9M | 0.2% | NEW | — |
| 136 | — | FIRST TR EXCHANGE TRADED - FD NASDQ SEMCNDTR | $1.9M | — | +39% | — |
| 137 |  $GMECALL | GameStop Corp. | $1.9M | — | +11% | 61.2 |
| 138 | — | INVESTMENT MANAGERS SER TR I TRADR - 2X LONG | $1.9M | — | NEW | — |
| 139 | — | ISHARES INC MSCI STH - KOR ETF | $1.8M | — | +14% | — |
| 140 | — | ISHARES TR US AER - DEF ETF | $1.8M | — | -29% | — |
| 141 | — | NEOS ETF TRUST GOLD HIG - INC ETF | $1.8M | — | +679% | — |
| 142 | — | CORGI ETF TR - I LITHOGRAPHY SEMI | $1.8M | 0.1% | NEW | — |
| 143 | — | TEMA - ETF TRUST SPACE INNOV ETF | $1.8M | — | NEW | — |
| 144 | — | ROUNDHILL - ETF TRUST MEMORY ETF | $1.8M | — | NEW | — |
| 145 | — | ISHARES TR 0-3 - MTH TREASURY | $1.7M | — | +162% | — |
| 146 | — | PROSHARES - TR ULTRA ETHER ETF | $1.7M | — | +1600% | — |
| 147 | — | INVESTMENT MANAGERS SER TR I TRADR - 2X LONG | $1.7M | 0.1% | NEW | — |
| 148 | — | TIDAL TRUST II DEFI 2X - HIMS ETF | $1.7M | — | +82% | — |
| 149 | — | SPDR SERIES TRUST ST STR - MSCI GEN | $1.7M | — | NEW | — |
| 150 | — | ISHARES TR MSCI - USA MMENTM | $1.7M | — | NEW | — |
New Positions (597)
$INTCPUT INTEL CORP$225.8M$MU MICRON TECHNOLOGY INC$150.1M$SPCXCALL SPACE EXPLORATION TECHNOLOGIES CORP$65.6M$SPCXPUT SPACE EXPLORATION TECHNOLOGIES CORP$50.7M$INTC INTEL CORP$50.6M$TSLA Tesla, Inc.$46.0M$CBRSCALL Cerebras Systems Inc.$41.1M$AAPL Apple Inc.$27.3M$AVGO Broadcom Inc.$23.4M$CBRSPUT Cerebras Systems Inc.$9.4MExited Positions (294)
$ESPUT EVERSOURCE ENERGY$ESCALL EVERSOURCE ENERGY$SPY SPDR S&P 500 ETF TRUST
$RTOPUT RENTOKIL INITIAL PLC /FI
$MQPUT Marqeta, Inc.$MQCALL Marqeta, Inc.$SLV iShares Silver Trust$RTOCALL RENTOKIL INITIAL PLC /FI$PLTR Palantir Technologies Inc.
$SIVRCALL abrdn Silver ETF Trust$SIVRPUT abrdn Silver ETF TrustBrowse Top Institutional Investors
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