Belvedere Trading LLC
•CIK: 1632341•Filing: Q4 2025
Belvedere Trading LLC, led by the renowned trader Bill Hwang, maintains a concentrated portfolio with a heavy emphasis on energy and technology, notably holding 42.5% in E-mini S&P 500 futures and 17.4% in Tesla. The fund recently exited TIP and VRNA, while significantly increasing positions in AAPL and NDQ, reflecting a strategic pivot towards growth-oriented tech stocks amid market volatility.
Total AUM
$235.7M
+ $28.3B in options
QoQ Performance
-69.1%
Positions
89
+ 215 options
Top 10 Concentration
93.9%
Latest Filing
Q4 2025
Top Holdings Allocation
ES
TSLA
NDQ
ES42.5%
TSLA17.4%
NDQ13.5%
SO4.6%
IWM3.4%
META3.3%
AAPL2.8%
SMH2.7%
📈 Biggest Buys
📉 Biggest Sells
Sector Breakdown
Other68.0%
Consumer19.2%
Technology8.1%
Utilities4.6%
ETF0.1%
Financial0.0%
Healthcare0.0%
Industrial0.0%
🚪 Exited Positionssold since Q3 2025
+271 more exited positions
Changes from Q3 2025
NEW66 new positions
↑82 increased
↓42 decreased
Historical Filings
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023