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Belvedere Trading

Belvedere Trading Portfolio holdings

AUM $84.4B
1-Year Est. Return 52.68%
This Fund
S&P 500
This Quarter Est. Return
+34.98%
1 Year Est. Return
+52.68%
3 Year Est. Return
+262.56%
5 Year Est. Return
+468.62%
10 Year Est. Return
–
AUM
$85.5B
AUM Growth
-$3.23B
Cap. Flow
-$16.2B
Cap. Flow %
-18.92%
Top 10 Hldgs %
83.44%
Holding
1,068
New
391
Increased
157
Reduced
200
Closed
265

Top Buys

Rank Stock Value
1
SMH icon
VanEck Semiconductor ETF
SMH
+$87.7M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$84.3M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$48.6M
4
SMCI icon
Super Micro Computer
SMCI
+$35.5M
5
GLD icon
SPDR Gold Trust
GLD
+$33.5M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$272M
2
NVDA icon
NVIDIA
NVDA
+$170M
3
META icon
Meta Platforms (Facebook)
META
+$48.4M
4
AMZN icon
Amazon
AMZN
+$18.6M
5
AAPL icon
Apple
AAPL
+$13.2M

Sector Composition

Rank Sector Weight
1 Technology 0.85%
2 Consumer Discretionary 0.03%
3 Communication Services 0.02%
4 Financials 0.01%
5 Healthcare 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSTR icon
26
Strategy Inc
MSTR
$34.3B
$380M 0.44%
939,151
+42,379
+5% +$15.4M
AVGO icon
27
CALL
Broadcom
AVGO
$1.79T
$348M 0.41%
1,263,700
+659,500
+109% +$143M
SMCI icon
28
PUT
Super Micro Computer
SMCI
$17.7B
$253M 0.3%
5,157,300
+1,635,900
+46% +$63.1M
SMCI icon
29
CALL
Super Micro Computer
SMCI
$17.7B
$235M 0.27%
4,790,100
+573,000
+14% +$22.1M
IBIT icon
30
PUT
iShares Bitcoin Trust
IBIT
$46.7B
$191M 0.22%
3,119,800
+2,834,400
+993% +$159M
NVDA icon
31
NVIDIA
NVDA
$4.69T
$175M 0.2%
1,107,341
-1,354,194
-55% -$170M
IBIT icon
32
CALL
iShares Bitcoin Trust
IBIT
$46.7B
$127M 0.15%
2,079,500
+1,441,000
+226% +$80.7M
SLV icon
33
CALL
iShares Silver Trust
SLV
$27.4B
$117M 0.14%
3,551,600
-1,381,900
-28% -$42.3M
SMH icon
34
VanEck Semiconductor ETF
SMH
$63.2B
$105M 0.12%
+378,298
New +$87.7M
IBIT icon
35
iShares Bitcoin Trust
IBIT
$46.7B
$95.7M 0.11%
1,563,391
+1,503,839
+2,525% +$84.3M
SLV icon
36
PUT
iShares Silver Trust
SLV
$27.4B
$70.9M 0.08%
2,160,100
-127,700
-6% -$3.91M
SPY icon
37
State Street SPDR S&P 500 ETF Trust
SPY
$780B
$65.1M 0.08%
105,417
-476,680
-82% -$272M
AMD icon
38
Advanced Micro Devices
AMD
$739B
$64M 0.07%
450,918
-36,799
-8% -$4.01M
AVGO icon
39
Broadcom
AVGO
$1.79T
$59.7M 0.07%
216,437
+91,822
+74% +$19.9M
QQQ icon
40
Invesco QQQ Trust
QQQ
$441B
$53.9M 0.06%
+97,711
New +$48.6M
SMCI icon
41
Super Micro Computer
SMCI
$17.7B
$45.1M 0.05%
+919,958
New +$35.5M
IWM icon
42
iShares Russell 2000 ETF
IWM
$79.9B
$39.8M 0.05%
184,395
-15,853
-8% -$3.19M
GLD icon
43
SPDR Gold Trust
GLD
$131B
$33.7M 0.04%
+110,487
New +$33.5M
PLTR icon
44
PUT
Palantir
PLTR
$284B
$27.1M 0.03%
198,500
+175,200
+752% +$20.5M
COIN icon
45
PUT
Coinbase
COIN
$42.2B
$25M 0.03%
71,300
-34,100
-32% -$7.97M
PLTR icon
46
CALL
Palantir
PLTR
$284B
$24.9M 0.03%
182,400
+160,100
+718% +$18.8M
COIN icon
47
CALL
Coinbase
COIN
$42.2B
$19.3M 0.02%
55,200
-67,600
-55% -$15.8M
META icon
48
Meta Platforms (Facebook)
META
$1.51T
$18.2M 0.02%
24,611
-78,368
-76% -$48.4M
AMZN icon
49
Amazon
AMZN
$2.48T
$17.8M 0.02%
81,294
-94,012
-54% -$18.6M
PPLT
50
abrdn Physical Platinum Shares ETF
PPLT
$1.81B
$10.8M 0.01%
879,020
+860,680
+4,693% +$8.42M
1
2
3 4 5

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Mackenzie Financial
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Mariner
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BNP Paribas Asset Management
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US Bancorp
US Bancorp Minneapolis, Minnesota $82.4B AUM 19.69% 1-Year Est. Return
Prudential Financial
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Focus Partners Wealth
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Belvedere Trading's Q2 2025 Portfolio in Review

As of Q2 2025, Belvedere Trading held 1,068 positions worth $85.5B, down 3.6% from $88.7B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Belvedere Trading withdrew a net $16.2B in Q2 2025, closing 265 positions and reducing 200 holdings. Its most notable exit was Direxion Daily TSLA Bull 2X ETF, an estimated $3.11M position sold in full.

By sector, the portfolio is most concentrated in Technology at 0.85% of assets, up from 0.7% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Belvedere Trading opened a new position in VanEck Semiconductor ETF worth $105M.

  • Belvedere Trading's largest Q2 2025 buy was VanEck Semiconductor ETF: 378,298 shares worth $105M.
  • Belvedere Trading added most to iShares Bitcoin Trust in Q2 2025, an estimated $84.3M increase.
  • Belvedere Trading's biggest Q2 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $272M.
  • Belvedere Trading fully exited Direxion Daily TSLA Bull 2X ETF in Q2 2025, selling an estimated $3.11M.
  • Belvedere Trading's ten largest holdings make up 83% of its $85.5B portfolio in Q2 2025.
  • Belvedere Trading opened 391 new positions and closed 265 in Q2 2025.
  • Belvedere Trading's portfolio value fell 3.6% quarter-over-quarter to $85.5B.

Based on Belvedere Trading's 13F filing for Q2 2025, filed 1 Aug 2025.