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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
XSW icon
351
PUT
State Street SPDR S&P Software & Services ETF
XSW
$478M
$208K ﹤0.01%
1,300
-1,100
-46% -$201K
VOX icon
352
CALL
Vanguard Communication Services ETF
VOX
$5.73B
$208K ﹤0.01%
+1,400
New +$222K
CEE
353
Central and Eastern Europe Fund
CEE
$137M
$208K ﹤0.01%
14,395
+395
+3% +$5.44K
USCI icon
354
US Commodity Index
USCI
$361M
$203K ﹤0.01%
2,810
-5,200
-65% -$363K
MIDU icon
355
PUT
Direxion Daily Mid Cap Bull 3X ETF
MIDU
$73.4M
$202K ﹤0.01%
+4,900
New +$252K
RDTE
356
PUT
Roundhill Russell 2000 0DTE Covered Call Strategy ETF
RDTE
$177M
$202K ﹤0.01%
+5,700
New +$223K
PTIR
357
PUT
GraniteShares 2x Long PLTR Daily ETF
PTIR
$430M
$199K ﹤0.01%
22,500
-529,500
-96% -$5.77M
KTB icon
358
PUT
Kontoor Brands
KTB
$4.62B
$199K ﹤0.01%
+3,100
New +$240K
SIL icon
359
PUT
Global X Silver Miners ETF NEW
SIL
$4.5B
$197K ﹤0.01%
5,000
– –
PACS icon
360
PUT
PACS Group
PACS
$7.22B
$197K ﹤0.01%
+17,500
New +$230K
HUT
361
CALL
Hut 8
HUT
$10.4B
$193K ﹤0.01%
77,200
-172,000
-69% -$3.18M
PRCH icon
362
CALL
Porch Group
PRCH
$1.79B
$190K ﹤0.01%
26,100
+10,300
+65% +$55.8K
SDOW icon
363
CALL
ProShares UltraPro Short Dow 30
SDOW
$135M
$187K ﹤0.01%
14,300
-5,700
-29% -$277K
VTWG icon
364
PUT
Vanguard Russell 2000 Growth ETF
VTWG
$1.53B
$186K ﹤0.01%
+1,000
New +$206K
SVIX icon
365
-1x Short VIX Futures ETF
SVIX
$183M
$182K ﹤0.01%
8,954
-2,800
-24% -$67.5K
GRAB icon
366
CALL
Grab
GRAB
$15.3B
$180K ﹤0.01%
+39,800
New +$186K
FAN icon
367
CALL
First Trust Global Wind Energy ETF
FAN
$274M
$180K ﹤0.01%
+12,000
New +$181K
IAK icon
368
iShares US Insurance ETF
IAK
$541M
$179K ﹤0.01%
1,300
-400
-24% -$52.3K
SMST
369
Defiance Daily Target 2x Short MSTR ETF
SMST
$27.3M
$176K ﹤0.01%
2,146
+415
+24% +$42.8K
NVDL icon
370
PUT
GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF
NVDL
$3.88B
$172K ﹤0.01%
13,800
-472,500
-97% -$8.68M
BKCH icon
371
Global X Blockchain ETF
BKCH
$207M
$170K ﹤0.01%
5,148
-52
-1% -$2.51K
PPLT
372
abrdn Physical Platinum Shares ETF
PPLT
$2B
$168K ﹤0.01%
+18,340
New +$162K
TSDD icon
373
PUT
GraniteShares 2x Short TSLA Daily ETF
TSDD
$30.7M
$167K ﹤0.01%
2,900
+2,850
+5,700% +$135K
PRN icon
374
PUT
Invesco Dorsey Wright Industrials Momentum ETF
PRN
$431M
$165K ﹤0.01%
1,200
-4,800
-80% -$725K
AISP
375
CALL
Airship AI Holdings
AISP
$65.8M
$164K ﹤0.01%
42,600
+6,500
+18% +$30.2K
13 14
15
16 17

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Qube Research & Technologies (QRT)
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Sanders Capital
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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.