Belvedere Trading LLC
Belvedere Trading LLC is a leading proprietary trading firm headquartered in Chicago, Illinois. Founded in 2002, the firm specializes in equity index and commodity derivatives trading, leveraging quantitative strategies and advanced technology. It employs approximately 300 professionals, including traders, technologists, and quantitative researchers. Belvedere serves as a market-maker and liquidity provider in options and futures markets, focusing on continuous innovation, integrity, and teamwork.
Investment Strategy
Belvedere Trading LLC utilizes proprietary quantitative and algorithmic strategies to provide liquidity and price efficiency in the equity index and commodity derivatives markets. As a proprietary trading firm, it engages in high-frequency and statistical arbitrage trading, market-making, and risk management across listed derivatives including options, futures, and ETFs. Its approach is technology-driven and emphasizes speed, data analytics, and systematic modeling to capture market opportunities while managing risk exposure.
Top Holdings
Equity Positions (195)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M MSTR | MICROSTRATEGY INC | 0.44% | $379.6M | 939,151 | $292.23 | $404.23 | +$121.1M |
N NVDA | NVIDIA CORPORATION | 0.20% | $174.9M | 1,107,341 | $69.37 | $157.99 | -$91.8M |
S SMH | VANECK ETF TRUST | 0.12% | $105.5M | 378,298 | $278.88 | $278.88 | +$105.5M |
I IBIT | ISHARES BITCOIN TRUST ETF | 0.11% | $95.7M | 1,563,391 | $60.90 | $61.21 | +$92.9M |
S SPY | SPDR S&P 500 ETF TR | 0.08% | $65.1M | 105,417 | $496.67 | $617.85 | -$260.5M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Sold | Put | $21.89B | 354,374 | $617.85 | $445.48 | -115,606 | -$4.40B |
S SPY | SPDR S&P 500 ETF TR | Sold | Call | $20.39B | 329,960 | $617.85 | $484.59 | -156,307 | -$6.81B |
Q QQQ | INVESCO QQQ TR | Bought | Put | $5.18B | 93,952 | $551.64 | $395.79 | +1,987 | +$870.3M |
N NVDA | NVIDIA CORPORATION | Sold | Put | $4.77B | 302,205 | $157.99 | $65.57 | -36,284 | +$1.11B |
Q QQQ | INVESCO QQQ TR | Sold | Call | $4.31B | 78,194 | $551.64 | $385.80 | -11,976 | +$85.2M |