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Belvedere Trading LLC

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1632341
Institutional-grade research for retail investors

Sector Allocation

  • Technology69.8%$837.7M
  • Other16.4%$196.9M
  • Financials6.5%$78.6M
  • Consumer Discretionary6.5%$78.5M
  • Industrials0.3%$4.1M
  • Healthcare0.2%$2.2M
  • Materials0.2%$1.9M
  • Utilities0.0%$354,797
  • Energy0.0%$181,681
  • Communication Services0.0%$158,262

AUM History

13fpro.ai/research/fund/belvedere-trading-llc-1632341

Conviction and streaks

Diversifying · top 10 = 75.4%

From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.

NVDA$NVDAConviction hold33.0% weight · held 10 quartersAMZN$AMZNConviction hold2.7% weight · held 10 quartersMSTR$MSTRConviction hold2.5% weight · held 9 quartersAMD$AMDConviction hold1.4% weight · held 7 quarters$Conviction hold1.1% weight · held 4 quarters$Accumulating+2202% shares · 4 quarters runningMSTR$MSTRAccumulating+291% shares · 3 quarters runningYMM$YMMAccumulating+1435% shares · 3 quarters runningNVDA$NVDAAccumulating+1199% shares · 2 quarters runningAAPL$AAPLAccumulating+258% shares · 2 quarters runningAMD$AMDTrimming-96% shares · 6 quarters running$Trimming-91% shares · 3 quarters runningGE$GETrimming-99% shares · 3 quarters runningAVGO$AVGOTrimming-83% shares · 2 quarters running$Trimming-48% shares · 2 quarters running

Largest positions — Q2 2026

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/belvedere-trading-llc-1632341

Belvedere Trading LLC 13F holdings — Q2 2026

$87.6B portfolio (+3.8% QoQ) · 1,038 holdings · Q2 2026 13F · top 10 are 75% of the stock portfolio

Includes $86.4B of put/call options ($46.1B puts, $40.3B calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $1.2B. Weights use the stock portfolio.

All holdings — Belvedere Trading LLC (Q2 2026)

1,038 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated. The page lists up to 1,000; every position is in the Excel export.

Company
SPY$SPYPUTSPDR S&P 500 ETF TRUST$23.9B+23%
SPY$SPYCALLSPDR S&P 500 ETF TRUST$20.1B+3%
QQQ$QQQCALLINVESCO QQQ TRUST, SERIES 1$5.1B+3%
QQQ$QQQPUTINVESCO QQQ TRUST, SERIES 1$4.6B+11%
TSLA$TSLAPUTTesla, Inc.$3.4B-16%
NVDA$NVDAPUTNVIDIA CORP$3.3B-15%
TSLA$TSLACALLTesla, Inc.$3.1B-12%
NVDA$NVDACALLNVIDIA CORP$3.0B-21%
— PUTVANECK - ETF TRUST SEMICONDUCTR ETF$2.8B+100%
MU$MUCALLMICRON TECHNOLOGY INC$1.6BNew
— CALLVANECK - ETF TRUST SEMICONDUCTR ETF$1.5B+56%
AMD$AMDPUTADVANCED MICRO DEVICES INC$1.4B+30%
AMD$AMDCALLADVANCED MICRO DEVICES INC$1.3B+29%
MU$MUPUTMICRON TECHNOLOGY INC$1.2BNew
SNDK$SNDKPUTSandisk Corp$1.1B+1060%

What changed in Q2 2026

Against the previous quarter's 13F: 597 new, 201 added to, 203 trimmed, 294 sold out. Share-count changes; largest moves by dollar size first.

New positions (597)

  • INTC$INTCPUTINTEL CORP$225.8M

    first bought this quarter

  • MU$MUMICRON TECHNOLOGY INC$150.1M

    first bought this quarter

  • SPCX$SPCXCALLSPACE EXPLORATION TECHNOLOGIES CORP$65.6M

    first bought this quarter

  • SPCX$SPCXPUTSPACE EXPLORATION TECHNOLOGIES CORP$50.7M

    first bought this quarter

  • INTC$INTCINTEL CORP$50.6M

    first bought this quarter

  • TSLA$TSLATesla, Inc.$46.0M

    first bought this quarter

+591 more in the Excel export

Added to (201)

  • SPY$SPYPUTSPDR S&P 500 ETF TRUST+23%

    now $23.9B

  • PUTVANECK - ETF TRUST SEMICONDUCTR ETF+100%

    now $2.8B

  • SNDK$SNDKPUTSandisk Corp+1060%

    now $1.1B

  • SPY$SPYCALLSPDR S&P 500 ETF TRUST+3%

    now $20.1B

  • CALLVANECK - ETF TRUST SEMICONDUCTR ETF+56%

    now $1.5B

  • SNDK$SNDKCALLSandisk Corp+1791%

    now $503.2M

+195 more in the Excel export

Trimmed (203)

  • NVDA$NVDACALLNVIDIA CORP-21%

    now $3.0B

  • TSLA$TSLAPUTTesla, Inc.-16%

    now $3.4B

  • NVDA$NVDAPUTNVIDIA CORP-15%

    now $3.3B

  • TSLA$TSLACALLTesla, Inc.-12%

    now $3.1B

  • GLD$GLDCALLSPDR GOLD TRUST-52%

    now $263.2M

  • PUTISHARES - TR RUSSELL 2000 ETF-22%

    now $834.4M

+197 more in the Excel export

Sold out (294)

  • ES$ESPUTEVERSOURCE ENERGYwas $14.8B
  • ES$ESCALLEVERSOURCE ENERGYwas $3.9B
  • SPY$SPYSPDR S&P 500 ETF TRUSTwas $178.1M

    held 9+ qtrs

  • RTO$RTOPUTRENTOKIL INITIAL PLC /FIwas $30.5M
  • MQ$MQPUTMarqeta, Inc.was $25.4M
  • ISHARESwas $25.0M

+288 more in the Excel export

Share

Holdings by quarter

Every 13F Belvedere Trading LLC has filed, 39 earlier quarters. Pick one to see what it held then.

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Is it too late to follow Belvedere Trading?

Q2 2026 13F filed with the SEC on Jul 31, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of Belvedere Trading's top 20 holdings: 79/100 (our AI quality score, weighted by position size; 12 of the 20 are scored)

Top 10 since filing

+8.4%

Value-weighted move of the 10 largest stock positions

Turnover

45%

Last quarter; 160% over the last 4

Top 10 weight

75%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

50%

Share of portfolio value in positions held a year or more

Highest-quality names it owns(among its 100 largest positions)

The 8 highest-scoring companies in this portfolio are a Pro feature.

How these are measured
  • Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
  • Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
  • Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
  • Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
  • Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.

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 $NVDA (NVIDIA CORP) at 33.0% of the equity portfolio, followed by $MU and $SNDK. 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 (69.8% of disclosed assets). All figures are sourced directly from Belvedere Trading LLC’s Form 13F-HR filing with the SEC under CIK 1632341.

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AI-Powered Hedge Fund Analysis: Belvedere Trading LLC

13F Pro is an AI hedge fund tracker and stock research platform. For Belvedere Trading LLC (SEC CIK: 1632341), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.

Every holding in Belvedere Trading LLC's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.