Belvedere Trading LLC Q2 2025 Filing

Filed August 1, 2025

Portfolio Value

$85.5T

Holdings

384

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (384 positions)

#StockSharesValue% PortfolioType
201
VTEIVANGUARD MUN BD FDS
4,200$414.0M0.00%Put
202
ITA*ISHARES TR
2,189$412.9M0.00%Call
203
XLGINVESCO EXCHANGE TRADED FD T
7,913$412.3M0.00%Put
204
BABOTIDAL TR II
26,901$410.0M0.00%Put
205
YMAXTIDAL TR II
29,521$406.2M0.00%Put
206
VIOOVANGUARD ADMIRAL FDS INC
4,000$404.9M0.00%Put
207
KELKELLANOVA
5,000$397.6M0.00%Put
208
DJTUETF OPPORTUNITIES TRUST
35,862$396.6M0.00%Put
209
VIXYPROSHARES TR II
9,763$393.2M0.00%Call
210
APPXINVESTMENT MANAGERS SER TR I
10,105$391.7M0.00%Put
211
RBLUETF OPPORTUNITIES TRUST
6,089$389.9M0.00%Put
212
ITUBITAU UNIBANCO HLDG S A
57,109$387.8M0.00%Call
213
IETCISHARES U S ETF TR
4,100$385.4M0.00%Put
214
SGDMSPROTT ETF TRUST
8,500$384.5M0.00%Call
215
YETHROUNDHILL ETF TRUST
15,378$384.0M0.00%Put
216
VXXBARCLAYS BANK PLC
7,968$382.9M0.00%
217
SGOVISHARES TR
3,800$382.6M0.00%Call
218
RDTEROUNDHILL ETF TRUST
11,071$378.9M0.00%Put
219
AVUVAMERICAN CENTY ETF TR
4,154$378.4M0.00%Put
220
PSIINVESCO EXCHANGE TRADED FD T
6,300$377.7M0.00%Put
221
FXLFIRST TR EXCHANGE TRADED FD
2,400$377.7M0.00%Call
222
JFINJIAYIN GROUP INC
23,538$377.1M0.00%Put
223
DAXGLOBAL X FDS
8,274$371.8M0.00%Put
224
UTHYRBB FD INC
8,794$367.9M0.00%
225
USARUSA RARE EARTH INC
33,453$366.5M0.00%Put
226
AIRRFIRST TR EXCHANGE TRADED FD
4,500$366.3M0.00%Put
227
NVDGTHEMES ETF TR
24,196$365.4M0.00%Put
228
IONQIONQ INC
8,500$365.2M0.00%Put
229
AGQPROSHARES TR
23,800$355.8M0.00%Put
230
VEAVANGUARD TAX-MANAGED FDS
6,209$354.0M0.00%Put
231
AMDYTIDAL TR II
80,312$348.6M0.00%Put
232
AMZYTIDAL TR II
21,259$345.5M0.00%Put
233
TNADIREXION SHS ETF TR
10,258$344.1M0.00%
234
CRCRANE COMPANY
1,800$341.8M0.00%Put
235
TZADIREXION SHS ETF TR
28,769$341.2M0.00%
236
CRPTFIRST TR EXCHNG TRADED FD VI
14,600$338.9M0.00%Put
237
07WAMR COOPER GROUP INC
2,211$329.9M0.00%
238
ARMARM HOLDINGS PLC
2,037$329.5M0.00%
239
VOEVANGUARD INDEX FDS
2,000$328.9M0.00%Call
240
BIZDVANECK ETF TRUST
20,000$325.6M0.00%Put
241
IVOOVANGUARD ADMIRAL FDS INC
3,100$325.4M0.00%Put
242
FMFFORMFACTOR INC
9,400$323.5M0.00%Call
243
VTEBVANGUARD MUN BD FDS
6,519$319.6M0.00%Put
244
EMXCISHARES INC
5,057$319.3M0.00%Call
245
OKLOOKLO INC
5,700$319.1M0.00%Put
246
SLVPISHARES INC
17,900$318.8M0.00%Put
247
VERAVERA THERAPEUTICS INC
13,517$318.5M0.00%Put
248
CIB1NGRUPO CIBEST SA
6,880$317.8M0.00%Put
249
VXZBARCLAYS BANK PLC
5,400$315.7M0.00%Put
250
FTECFIDELITY COVINGTON TRUST
1,593$314.2M0.00%Put
251
XYLDGLOBAL X FDS
8,000$311.5M0.00%Put
252
PRCHPORCH GROUP INC
26,100$307.7M0.00%Call
253
ASPIASP ISOTOPES INC
41,530$305.7M0.00%Put
254
IPORENAISSANCE CAP GREENWICH FD
6,600$296.6M0.00%Put
255
KBWPINVESCO EXCH TRADED FD TR II
2,400$294.8M0.00%Put
256
VBRVANGUARD INDEX FDS
1,500$292.5M0.00%Call
257
GRIDFIRST TR EXCHANGE TRADED FD
2,100$291.9M0.00%Call
258
SKYYFIRST TR EXCHANGE TRADED FD
2,400$291.9M0.00%Call
259
QAINEW YORK LIFE INVESTMENTS ET
9,000$290.9M0.00%Call
260
ETHAISHARES ETHEREUM TR
15,085$287.7M0.00%Call
261
HWKNHAWKINS INC
2,000$284.2M0.00%Put
262
IUSVISHARES TR
3,000$283.9M0.00%Call
263
BUTIDAL TR II
34,260$279.9M0.00%Put
264
BOILPROSHARES TR II
6,228$279.6M0.00%Call
265
KOLDPROSHARES TR II
10,883$278.7M0.00%
266
BBHVANECK ETF TRUST
1,800$275.9M0.00%Put
267
AAAUGOLDMAN SACHS PHYSICAL GOLD
8,423$275.3M0.00%Call
268
VONGVANGUARD SCOTTSDALE FDS
2,500$273.0M0.00%Call
269
TSLGRANITESHARES ETF TR
21,567$270.9M0.00%Put
270
UCCPROSHARES TR
6,000$270.7M0.00%Call
271
RSPHINVESCO EXCHANGE TRADED FD T
9,100$265.5M0.00%Call
272
SILGLOBAL X FDS
5,500$264.8M0.00%Put
273
INMBINMUNE BIO INC
114,500$264.5M0.00%Call
274
TMPTOMPKINS FINL CORP
4,200$263.5M0.00%Put
275
SVIXVS TRUST
16,868$261.6M0.00%Put
276
SOLTVOLATILITY SHS TR
15,700$257.5M0.00%Put
277
QGROAMERICAN CENTY ETF TR
2,300$251.0M0.00%Call
278
JAAAJANUS DETROIT STR TR
4,944$250.9M0.00%Put
279
TQQQPROSHARES TR
3,021$250.7M0.00%
280
FEPIETF OPPORTUNITIES TRUST
5,500$250.4M0.00%Put
281
HGERHARBOR ETF TRUST
10,300$250.2M0.00%Call
282
RDVIFIRST TR EXCHANGE-TRADED FD
10,100$249.6M0.00%Call
283
FNCLFIDELITY COVINGTON TRUST
3,359$248.7M0.00%Put
284
AGQPROSHARES TR
12,699$248.5M0.00%
285
JJACOBS SOLUTIONS INC
1,600$248.0M0.00%Put
286
NFENEW FORTRESS ENERGY INC
73,208$243.1M0.00%Call
287
VOXVANGUARD WORLD FD
1,400$239.4M0.00%Put
288
AQWAGLOBAL X FDS
12,600$239.0M0.00%
289
APLDAPPLIED DIGITAL CORP
23,626$237.9M0.00%Put
290
SKYTSKYWATER TECHNOLOGY INC
24,000$236.2M0.00%Call
291
ASTSAST SPACEMOBILE INC
5,000$233.7M0.00%Call
292
BAIBLACKROCK ETF TRUST
8,094$233.5M0.00%Call
293
BFPBANCO BBVA ARGENTINA S A
14,000$230.4M0.00%Call
294
AVLDIREXION SHS ETF TR
5,910$230.0M0.00%Put
295
INDAISHARES TR
4,116$229.2M0.00%
296
PHOINVESCO EXCHANGE TRADED FD T
3,271$228.7M0.00%Put
297
DXJWISDOMTREE TR
2,000$228.5M0.00%
298
ARKFARK ETF TR
4,500$226.1M0.00%Put
299
BITQEXCHANGE TRADED CONCEPTS TRU
11,431$225.4M0.00%Put
300
CEECENTRAL & EASTERN EUROPE FD
14,395$223.4M0.00%
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