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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
ARKB icon
826
PUT
ARK 21Shares Bitcoin ETF
ARKB
$2.47B
– –
-600
Closed -$16.4K
ARKK icon
827
CALL
ARK Innovation ETF
ARKK
$5.77B
– –
-30,000
Closed -$1.43M
ARKK icon
828
ARK Innovation ETF
ARKK
$5.77B
– –
-17,920
Closed -$853K
AZEK
829
DELISTED
The AZEK Co
AZEK
– –
-16,228
Closed -$813K
BBAR icon
830
PUT
BBVA Argentina
BBAR
$4.04B
– –
-100
Closed -$1.81K
BBCA icon
831
CALL
JPMorgan BetaBuilders Canada ETF
BBCA
$10.9B
– –
-10,400
Closed -$744K
BBH icon
832
CALL
VanEck Biotech ETF
BBH
$405M
– –
-3,000
Closed -$472K
BIDU icon
833
PUT
Baidu
BIDU
$36.5B
– –
-2,700
Closed -$248K
BITX icon
834
2x Bitcoin ETF
BITX
$925M
– –
-43,002
Closed -$2.07M
SRTA
835
CALL
Strata Critical Medical Inc
SRTA
$440M
– –
-11,000
Closed -$30K
SRTA
836
Strata Critical Medical Inc
SRTA
$440M
– –
-320
Closed -$874
SRTA
837
PUT
Strata Critical Medical Inc
SRTA
$440M
– –
-2,600
Closed -$7.1K
BLUE
838
CALL
DELISTED
bluebird bio
BLUE
– –
-10,300
Closed -$50.3K
BOIL icon
839
PUT
ProShares Ultra Bloomberg Natural Gas
BOIL
$340M
– –
-1,500
Closed -$257K
BTDR icon
840
CALL
Bitdeer Technologies
BTDR
$2.7B
– –
-40,000
Closed -$353K
BTDR icon
841
Bitdeer Technologies
BTDR
$2.7B
– –
-1,565
Closed -$13.8K
BTDR icon
842
PUT
Bitdeer Technologies
BTDR
$2.7B
– –
-14,000
Closed -$124K
CALF icon
843
CALL
Pacer US Small Cap Cash Cows 100 ETF
CALF
$3.7B
– –
-5,600
Closed -$210K
CAPT
844
CALL
DELISTED
Captivision
CAPT
– –
-30,400
Closed -$14.4K
CBNK icon
845
Capital Bancorp
CBNK
$603M
– –
-13,823
Closed -$392K
CHAU icon
846
CALL
Direxion Daily CSI 300 China A Share Bull 2X ETF
CHAU
$89.8M
– –
-104,400
Closed -$1.49M
CIA icon
847
PUT
Citizens
CIA
$246M
– –
-50,000
Closed -$228K
CIBR icon
848
PUT
First Trust NASDAQ Cybersecurity ETF
CIBR
$14.1B
– –
-5,700
Closed -$359K
GPGI
849
CALL
GPGI Inc
GPGI
$3.9B
– –
-5,300
Closed -$62.4K
GPGI
850
GPGI Inc
GPGI
$3.9B
– –
-11,747
Closed -$128K
32 33
34
35 36

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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.