13F value (AUM)
$87.6B
BE
Belvedere Trading
BELVEDERE TRADING LLC
$87.6B
13F long value · 2026-Q2Positions1038
CategoryAsset Manager
Quarters tracked9
▲ #118 of 581 by 13F value
Size rank 8/10
6 NEW7 ADD37 2×+30 TRIM14 NEAR EXIT4 EXIT
Snapshot
Belvedere Trading's 13F portfolio at a glance — size, concentration and this quarter's activity.
Positions
1038 (19 unmapped)
Top 100 weight
99.0%
Quarters tracked
9
Latest 13F filed
Jul 31, 2026
New positions
6
Exits / near-exits
18
13F value by quarter
Total reported long value each quarter — fund flows plus market moves.
Top holdings — 2026-Q2
The fund's largest reported positions (PUT/CALL rows are option positions, reported separately). The 100 shown cover 99.0% of the portfolio.
| Ticker | Issuer | Weight | Value | Shares | Since 2026-Q2 |
|---|---|---|---|---|---|
| SPY PUT | STATE STR SPDR S&P 500 ETF T TR | 27.3% | $23.9B | 32.0M | — |
| SPY CALL | STATE STR SPDR S&P 500 ETF T TR | 23.0% | $20.1B | 27.0M | — |
| QQQ CALL | INVESCO QQQ TR UNIT | 5.8% | $5.1B | 7.0M | — |
| QQQ PUT | INVESCO QQQ TR UNIT | 5.2% | $4.6B | 6.2M | — |
| TSLA PUT | TESLA INC | 3.9% | $3.4B | 8.2M | — |
| NVDA PUT | NVIDIA CORPORATION | 3.8% | $3.3B | 16.5M | — |
| TSLA CALL | TESLA INC | 3.6% | $3.1B | 7.4M | — |
| NVDA CALL | NVIDIA CORPORATION | 3.4% | $3.0B | 14.8M | — |
| SMH PUT | VANECK | 3.2% | $2.8B | 4.3M | — |
| MU CALL | MICRON TECHNOLOGY INC | 1.8% | $1.6B | 1.4M | — |
| SMH CALL | VANECK | 1.7% | $1.5B | 2.3M | — |
| AMD PUT | ADVANCED MICRO DEVICES INC | 1.6% | $1.4B | 2.5M | — |
| AMD CALL | ADVANCED MICRO DEVICES INC | 1.5% | $1.3B | 2.3M | — |
| MU PUT | MICRON TECHNOLOGY INC | 1.4% | $1.2B | 1.1M | — |
| SNDK PUT | SANDISK CORP | 1.2% | $1.1B | 466.3K | — |
Option positions — 2026-Q2
$46.1B across 340 put positions vs $40.3B across 372 call positions — put/call ratio 1.14. Values are notional — the market value of the shares the options reference.
| Type | Ticker | Issuer | Underlying shares | Notional value | % of 13F value |
|---|---|---|---|---|---|
| PUT | SPY | STATE STR SPDR S&P 500 ETF T TR | 32.0M | $23.9B | 27.3% |
| CALL | SPY | STATE STR SPDR S&P 500 ETF T TR | 27.0M | $20.1B | 23.0% |
| CALL | QQQ | INVESCO QQQ TR UNIT | 7.0M | $5.1B | 5.8% |
| PUT | QQQ | INVESCO QQQ TR UNIT | 6.2M | $4.6B | 5.2% |
| PUT | TSLA | TESLA INC | 8.2M | $3.4B | 3.9% |
| PUT | NVDA | NVIDIA CORPORATION | 16.5M | $3.3B | 3.8% |
| CALL | TSLA | TESLA INC | 7.4M | $3.1B | 3.6% |
| CALL | NVDA | NVIDIA CORPORATION | 14.8M | $3.0B | 3.4% |
| PUT | SMH | VANECK | 4.3M | $2.8B | 3.2% |
| CALL | MU | MICRON TECHNOLOGY INC | 1.4M | $1.6B | 1.8% |
Quarterly changes — 2026-Q2
What Belvedere Trading opened, added, trimmed and exited this quarter, largest dollar moves first.
| Action | Ticker | Issuer | Prev shares | Curr shares | Change | Value Δ |
|---|---|---|---|---|---|---|
| 2×+ | NVDA | NVIDIA CORPORATION | 939.4K | 2.0M | +111.0% | +$232.8M |
| EXIT | SPY | STATE STR SPDR S&P 500 ETF T TR | 273.8K | 0 | -100.0% | -$178.1M |
| NEW | MU | MICRON TECHNOLOGY INC | — | 130.0K | — | +$150.1M |
| 2×+ | SNDK | SANDISK CORP | 6.3K | 54.2K | +755.5% | +$119.2M |
| TRIM | META | META PLATFORMS INC | 148.1K | 43.3K | -70.8% | -$60.3M |
| NEW | INTC | INTEL CORP | — | 362.5K | — | +$50.6M |
| NEW | TSLA | TESLA INC | — | 109.4K | — | +$46.0M |
| TRIM | IBIT | ISHARES BITCOIN TRUST ETF SHS | 1.3M | 357.7K | -72.0% | -$37.1M |
| 2×+ | AMZN | AMAZON COM INC | 20.1K | 134.1K | +568.3% | +$27.8M |
| NEW | AAPL | APPLE INC | — | 94.2K | — | +$27.3M |
Conviction over time
Portfolio weight of the current top long holdings, quarter by quarter — rising weight = growing conviction.