US Investment Firm Belvedere Trading Discloses $170.8 Billion Stock Portfolio, Heavy on AI Leaders Like Nvidia and AMD
Belvedere Trading filed its Q3 13F showing over $170 billion in US equity securities, with significant positions in AI infrastructure stocks including Nvidia, AMD, and Micron.
US investment firm Belvedere Trading LLC filed its Form 13F-HR with the U.S. Securities and Exchange Commission (SEC) on November 5, 2026, for the quarter ended September 30, 2026. The filing discloses that the firm held approximately $170.77 billion in reportable US equity securities. It is important to note that this figure represents only the market value of specific stocks held in US markets as of the quarter-end snapshot; it does not reflect the firm's total Assets Under Management (AUM), which remains undisclosed in this form.
The portfolio reveals substantial institutional exposure to the artificial intelligence sector. Key holdings include significant positions in NVIDIA Corporation, Advanced Micro Devices Inc, and Micron Technology Inc. For instance, call options on NVIDIA alone correspond to nearly $3.5 billion in underlying share value, while positions in Micron and AMD also reach into the billions. Additionally, the firm holds positions in Amazon, Apple, Meta Platforms, and Broadcom Inc.
13F filings are quarterly snapshots required from large institutional investors, reflecting holdings at quarter-end rather than real-time trading activity or complete asset portfolios (excluding shorts, detailed derivatives, and non-US assets). Despite the lag, Belvedere Trading's disclosure of such a massive portfolio provides concrete quantitative evidence of how top-tier institutional capital is positioned within the AI infrastructure ecosystem.