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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
ETHU
576
CALL
2x Ether ETF
ETHU
$712M
$61.4K ﹤0.01%
16,000
+14,460
+939% +$692K
BORR
577
CALL
Borr Drilling
BORR
$1.25B
$61.3K ﹤0.01%
+33,500
New +$63.3K
VIOO icon
578
PUT
Vanguard S&P Small-Cap 600 ETF
VIOO
$4.13B
$60.7K ﹤0.01%
600
+100
+20% +$9.55K
CIFR icon
579
Cipher Digital
CIFR
$9.18B
$60.6K ﹤0.01%
12,687
-3,471
-21% -$11.2K
BGFV
580
CALL
DELISTED
Big 5 Sporting Goods
BGFV
$59.6K ﹤0.01%
42,000
+300
+0.7% +$322
IYW icon
581
iShares US Technology ETF
IYW
$23.4B
$59.4K ﹤0.01%
+343
New +$52K
APLD icon
582
CALL
Applied Digital
APLD
$7.93B
$59.4K ﹤0.01%
+5,900
New +$43.5K
ULCC icon
583
Frontier Group Holdings
ULCC
$1.57B
$59.3K ﹤0.01%
+16,330
New +$59.8K
TSL icon
584
PUT
GraniteShares 1.25x Long TSLA Daily ETF
TSL
$8.11M
$59K ﹤0.01%
4,700
+4,500
+2,250% +$53.8K
USAR
585
PUT
USA Rare Earth Inc
USAR
$3.55B
$58.1K ﹤0.01%
+5,300
New +$56.2K
TNGX icon
586
Tango Therapeutics
TNGX
$4.41B
$57.5K ﹤0.01%
+11,231
New +$27.8K
MSTU
587
PUT
T-Rex 2X Long MSTR Daily Target ETF
MSTU
$308M
$57.1K ﹤0.01%
660
-6,970
-91% -$527K
CR icon
588
PUT
Crane Co
CR
$12.3B
$57K ﹤0.01%
+300
New +$49.8K
VONE icon
589
PUT
Vanguard Russell 1000 ETF
VONE
$8.2B
$56.2K ﹤0.01%
200
-400
-67% -$104K
LODE icon
590
Comstock
LODE
$204M
$55K ﹤0.01%
+14,505
New +$40.3K
UVXY icon
591
CALL
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$235M
$54.8K ﹤0.01%
3,060
-260
-8% -$34.5K
WGMI icon
592
PUT
CoinShares ETF Trust CoinShares Bitcoin Mining ETF
WGMI
$254M
$54.6K ﹤0.01%
+2,400
New +$39.1K
BTCL
593
PUT
T-Rex 2X Long Bitcoin Daily Target ETF
BTCL
$21.4M
$53.6K ﹤0.01%
1,000
+500
+100% +$23.4K
VXZ icon
594
PUT
iPath Series B S&P 500 VIX Mid-Term Futures ETN
VXZ
$31.1M
$52.6K ﹤0.01%
900
-800
-47% -$48.3K
CRSH
595
YieldMax Short TSLA Option Income Strategy ETF
CRSH
$18.5M
$52K ﹤0.01%
+1,100
New +$62.1K
CRPT icon
596
CALL
First Trust SkyBridge Crypto Industry and Digital Economy ETF
CRPT
$80.8M
$51.1K ﹤0.01%
+2,200
New +$38.5K
MSFT icon
597
CALL
Microsoft
MSFT
$3.39T
$49.7K ﹤0.01%
+100
New +$43.4K
NVDU icon
598
PUT
Direxion Daily NVDA Bull 2X ETF
NVDU
$525M
$49.5K ﹤0.01%
500
-2,500
-83% -$165K
KBWP icon
599
PUT
Invesco KBW Property & Casualty Insurance ETF
KBWP
$267M
$49.1K ﹤0.01%
+400
New +$48.5K
MODV
600
CALL
DELISTED
ModivCare
MODV
$48.7K ﹤0.01%
+15,600
New +$28.7K
22 23
24
25 26

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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
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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.