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Belvedere Trading

Belvedere Trading Portfolio holdings

AUM $87.6B
1-Year Est. Return 131.08%
This Fund
S&P 500
This Quarter Est. Return
-8.69%
1 Year Est. Return
+131.08%
3 Year Est. Return
+497.29%
5 Year Est. Return
+787.25%
10 Year Est. Return
–
AUM
$88.7B
AUM Growth
+$5.87B
Cap. Flow
+$14.6B
Cap. Flow %
16.42%
Top 10 Hldgs %
86.79%
Holding
1,102
New
275
Increased
152
Reduced
217
Closed
425

Top Buys

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$195M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$158M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$39.2M
4
AVGO icon
Broadcom
AVGO
+$26.4M
5
META icon
Meta Platforms (Facebook)
META
+$25.1M

Top Sells

Rank Stock Value
1
SMH icon
VanEck Semiconductor ETF
SMH
+$144M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$135M
3
NVDA icon
NVIDIA
NVDA
+$104M
4
AMD icon
Advanced Micro Devices
AMD
+$23.2M
5
SMCI icon
Super Micro Computer
SMCI
+$22.3M

Sector Composition

Rank Sector Weight
1 Technology 0.7%
2 Communication Services 0.07%
3 Consumer Discretionary 0.05%
4 Energy 0%
5 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSTU
251
T-Rex 2X Long MSTR Daily Target ETF
MSTU
$351M
$339K ﹤0.01%
6,212
-146,804
-96% -$11.8M
SOUN icon
252
CALL
SoundHound AI
SOUN
$2.8B
$339K ﹤0.01%
41,700
-23,300
-36% -$290K
PLTU
253
Direxion Daily PLTR Bull 2X ETF
PLTU
$582M
$337K ﹤0.01%
+12,006
New +$416K
XSW icon
254
CALL
State Street SPDR S&P Software & Services ETF
XSW
$478M
$336K ﹤0.01%
2,100
+100
+5% +$18.2K
QTUM icon
255
PUT
Defiance Quantum ETF
QTUM
$5.53B
$335K ﹤0.01%
4,500
-2,300
-34% -$186K
JFIN
256
CALL
Jiayin Group
JFIN
$145M
$334K ﹤0.01%
+24,300
New +$229K
ROBN
257
CALL
T-Rex 2X Long HOOD Daily Target ETF
ROBN
$94M
$334K ﹤0.01%
+26,600
New +$525K
TSLR icon
258
GraniteShares 2x Long TSLA Daily ETF
TSLR
$69.5M
$329K ﹤0.01%
21,747
+19,655
+940% +$572K
SLVP icon
259
CALL
iShares MSCI Global Silver and Metals Miners ETF
SLVP
$888M
$328K ﹤0.01%
+21,900
New +$297K
SMOT icon
260
PUT
VanEck Morningstar SMID Moat ETF
SMOT
$341M
$328K ﹤0.01%
+10,000
New +$349K
ARGT icon
261
CALL
Global X MSCI Argentina ETF
ARGT
$836M
$323K ﹤0.01%
+4,000
New +$340K
VOE icon
262
CALL
Vanguard Morningstar Mid-Cap Value ETF
VOE
$24B
$321K ﹤0.01%
2,000
-300
-13% -$49K
VXZ icon
263
CALL
iPath Series B S&P 500 VIX Mid-Term Futures ETN
VXZ
$30.4M
$320K ﹤0.01%
+5,800
New +$303K
ULTY icon
264
PUT
YieldMax Ultra Option Income Strategy ETF
ULTY
$767M
$315K ﹤0.01%
5,210
+2,580
+98% +$201K
ETHD
265
PUT
ProShares UltraShort Ether ETF
ETHD
$55.8M
$315K ﹤0.01%
+580
New +$197K
VOOV icon
266
CALL
Vanguard S&P 500 Value ETF
VOOV
$6.69B
$313K ﹤0.01%
+1,700
New +$318K
VIOO icon
267
CALL
Vanguard S&P Small-Cap 600 ETF
VIOO
$4.25B
$309K ﹤0.01%
+3,200
New +$333K
SPXL icon
268
Direxion Daily S&P 500 Bull 3x ETF
SPXL
$7.34B
$309K ﹤0.01%
+2,199
New +$367K
SPXS icon
269
Direxion Daily S&P 500 Bear 3x ETF
SPXS
$309M
$307K ﹤0.01%
+4,311
New +$271K
IVOO icon
270
CALL
Vanguard S&P Mid-Cap 400 ETF
IVOO
$3.79B
$306K ﹤0.01%
3,100
-300
-9% -$31.6K
SNDK
271
PUT
Sandisk
SNDK
$200B
$305K ﹤0.01%
+6,400
New +$318K
IHY icon
272
PUT
VanEck International High Yield Bond ETF
IHY
$43.3M
$304K ﹤0.01%
14,500
– –
IHY icon
273
VanEck International High Yield Bond ETF
IHY
$43.3M
$303K ﹤0.01%
14,461
+8,100
+127% +$169K
PRN icon
274
CALL
Invesco Dorsey Wright Industrials Momentum ETF
PRN
$431M
$303K ﹤0.01%
2,200
+1,200
+120% +$181K
ARR
275
PUT
Armour Residential REIT
ARR
$2.35B
$299K ﹤0.01%
41,700
-15,200
-27% -$283K
9 10
11
12 13

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Focus Partners Wealth
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Qube Research & Technologies (QRT)
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Squarepoint
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Sanders Capital
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Mackenzie Financial
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Belvedere Trading's Q1 2025 Portfolio in Review

As of Q1 2025, Belvedere Trading held 1,102 positions worth $88.7B, up 7.1% from $82.8B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Belvedere Trading deployed $14.6B of net new capital in Q1 2025, opening 275 new positions and adding to 152 existing holdings. Its largest new stake was Broadcom: 124,615 shares worth $20.9M.

By sector, the portfolio is most concentrated in Technology at 0.7% of assets, down from 0.76% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was NVIDIA, an estimated $104M trimmed.

  • Belvedere Trading's largest Q1 2025 buy was Broadcom: 124,615 shares worth $20.9M.
  • Belvedere Trading added most to Strategy Inc in Q1 2025, an estimated $195M increase.
  • Belvedere Trading's biggest Q1 2025 reduction was NVIDIA, cutting an estimated $104M.
  • Belvedere Trading fully exited VanEck Semiconductor ETF in Q1 2025, selling an estimated $144M.
  • Belvedere Trading's ten largest holdings make up 87% of its $88.7B portfolio in Q1 2025.
  • Belvedere Trading opened 275 new positions and closed 425 in Q1 2025.
  • Belvedere Trading's portfolio value rose 7.1% quarter-over-quarter to $88.7B.

Based on Belvedere Trading's 13F filing for Q1 2025, filed 9 May 2025.