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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
(-3.6%)
Cap. Flow
-$16.2B
Cap. Flow
% of AUM
-18.92%
Top 10 Holdings %
Top 10 Hldgs %
83.44%
Holding
1,068
New
391
Increased
157
Reduced
200
Closed
265
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Semiconductor ETF
SMH
|
+$87.7M |
| 2 |
iShares Bitcoin Trust
IBIT
|
+$84.3M |
| 3 |
Invesco QQQ Trust
QQQ
|
+$48.6M |
| 4 |
Super Micro Computer
SMCI
|
+$35.5M |
| 5 |
SPDR Gold Trust
GLD
|
+$33.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$272M |
| 2 |
NVIDIA
NVDA
|
+$170M |
| 3 |
Meta Platforms (Facebook)
META
|
+$48.4M |
| 4 |
Amazon
AMZN
|
+$18.6M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
51
PUT
2x Bitcoin ETF
BITX
$900M
| $9.52M | 0.01% |
176,200
-118,600
| -40% | -$5.7M |
|
52
Vanguard S&P 500 ETF
VOO
$960B
| $8.77M | 0.01% |
15,439
+929
| +6% | +$488K |
|
53
Tesla
TSLA
$1.19T
| $7.31M | 0.01% |
23,007
-17,153
| -43% | -$5.17M |
|
54
CALL
State Street Financial Select Sector SPDR ETF
XLF
$56.5B
| $7.26M | 0.01% |
+138,700
| New | +$6.86M |
|
55
CALL
iShares MSCI EAFE ETF
EFA
$76.7B
| $6.7M | 0.01% |
+75,000
| New | +$6.4M |
|
56
iShares Silver Trust
SLV
$28B
| $6.11M | 0.01% |
+186,270
| New | +$5.7M |
|
|
HIMZ
57
PUT
Defiance Daily Target 2X Long HIMS ETF
HIMZ
$50.1M
| $5.73M | 0.01% |
+19,064
| New | +$7.58M |
|
58
CALL
Alibaba
BABA
$277B
| $5.57M | 0.01% |
48,500
-45,100
| -48% | -$5.34M |
|
59
PUT
iShares MSCI Emerging Markets ETF
EEM
$27.7B
| $5.45M | 0.01% |
+112,900
| New | +$5.08M |
|
|
60
Apple
AAPL
$5T
| $5.4M | 0.01% |
26,310
-65,275
| -71% | -$13.2M |
|
|
61
iShares MSCI EAFE ETF
EFA
$76.7B
| $5.16M | 0.01% |
+57,755
| New | +$4.93M |
|
62
CALL
3M
MMM
$92.1B
| $4.96M | 0.01% |
30,100
+7,100
| +31% | +$1.01M |
|
63
PUT
Direxion Daily NYSE FANG+ Bull 2X ETF
FNGG
$116M
| $4.89M | 0.01% |
22,900
+19,300
| +536% | +$3.18M |
|
|
64
CALL
2x Bitcoin ETF
BITX
$900M
| $4.59M | 0.01% |
84,900
+2,400
| +3% | +$115K |
|
|
65
CALL
Direxion Daily NYSE FANG+ Bull 2X ETF
FNGG
$116M
| $4.55M | 0.01% |
21,300
-20,000
| -48% | -$3.29M |
|
|
66
PUT
iShares MSCI EAFE ETF
EFA
$76.7B
| $4.46M | 0.01% |
+49,900
| New | +$4.26M |
|
67
CALL
Vanguard Growth ETF
VUG
$213B
| $4.34M | 0.01% |
59,400
-78,000
| -57% | -$5.14M |
|
68
CALL
iShares Gold Trust
IAU
$63.1B
| $4.3M | 0.01% |
69,000
-6,300
| -8% | -$390K |
|
|
69
iShares MSCI Emerging Markets ETF
EEM
$27.7B
| $4.02M | ﹤0.01% |
83,356
+40,793
| +96% | +$1.83M |
|
70
CALL
Carvana
CVNA
$48B
| $3.88M | ﹤0.01% |
57,500
+18,500
| +47% | +$1.01M |
|
71
PUT
iShares US Broker-Dealers & Securities Exchanges ETF
IAI
$1.35B
| $3.74M | ﹤0.01% |
+22,100
| New | +$3.26M |
|
|
ROBN
72
PUT
T-Rex 2X Long HOOD Daily Target ETF
ROBN
$87.7M
| $3.69M | ﹤0.01% |
70,600
-191,900
| -73% | -$4.5M |
|
73
CALL
Novartis
NVS
$301B
| $3.59M | ﹤0.01% |
28,000
+10,000
| +56% | +$1.13M |
|
|
TEM
74
CALL
Tempus AI
TEM
$7.54B
| $3.56M | ﹤0.01% |
56,100
-2,200
| -4% | -$126K |
|
75
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$42.4B
| $3.53M | ﹤0.01% |
+40,000
| New | +$3.49M |
|
Similar funds
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.