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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
POET icon
901
POET Technologies
POET
$1.2B
– –
-3,753
Closed -$22.3K
PR
902
CALL
Permian Resources
PR
$17.3B
– –
-40,100
Closed -$708K
PR
903
PUT
Permian Resources
PR
$17.3B
– –
-200
Closed -$4.19K
PRN icon
904
Invesco Dorsey Wright Industrials Momentum ETF
PRN
$417M
– –
-695
Closed -$105K
PSI icon
905
CALL
Invesco Semiconductors ETF
PSI
$2.26B
– –
-3,700
Closed -$214K
PSI icon
906
PUT
Invesco Semiconductors ETF
PSI
$2.26B
– –
-400
Closed -$23.2K
PTON icon
907
CALL
Peloton Interactive
PTON
$2.84B
– –
-106,300
Closed -$925K
QBTS icon
908
CALL
D-Wave Quantum Inc. Common Stock
QBTS
$7.18B
– –
-17,600
Closed -$148K
QBTS icon
909
D-Wave Quantum Inc. Common Stock
QBTS
$7.18B
– –
-55,769
Closed -$468K
QBTS icon
910
PUT
D-Wave Quantum Inc. Common Stock
QBTS
$7.18B
– –
-1,900
Closed -$16K
QGRO icon
911
CALL
American Century US Quality Growth ETF
QGRO
$1.97B
– –
-1,400
Closed -$140K
QGRO icon
912
PUT
American Century US Quality Growth ETF
QGRO
$1.97B
– –
-700
Closed -$69.8K
QQQ icon
913
Invesco QQQ Trust
QQQ
$463B
– –
-266,378
Closed -$135M
QQQY icon
914
Tidal Trust II Defiance Nasdaq 100 Weekly Distribution ETF
QQQY
$182M
– –
-6,532
Closed -$202K
QQQY icon
915
PUT
Tidal Trust II Defiance Nasdaq 100 Weekly Distribution ETF
QQQY
$182M
– –
-13,300
Closed -$403K
QSI icon
916
CALL
Quantum-Si Incorporated
QSI
$160M
– –
-50,400
Closed -$136K
QSI icon
917
Quantum-Si Incorporated
QSI
$160M
– –
-41,053
Closed -$111K
QSI icon
918
PUT
Quantum-Si Incorporated
QSI
$160M
– –
-900
Closed -$2.43K
QTEC icon
919
First Trust NASDAQ-100 Technology Index Fund
QTEC
$4.55B
– –
-690
Closed -$130K
QTEC icon
920
PUT
First Trust NASDAQ-100 Technology Index Fund
QTEC
$4.55B
– –
-1,500
Closed -$282K
QTUM icon
921
Defiance Quantum ETF
QTUM
$5.28B
– –
-20,183
Closed -$1.63M
QUBT icon
922
CALL
Quantum Computing Inc
QUBT
$1.89B
– –
-37,600
Closed -$622K
QUBT icon
923
PUT
Quantum Computing Inc
QUBT
$1.89B
– –
-10,600
Closed -$175K
RCAT icon
924
CALL
Red Cat Holdings
RCAT
$1.17B
– –
-4,400
Closed -$56.5K
RCAT icon
925
Red Cat Holdings
RCAT
$1.17B
– –
-13,294
Closed -$171K
35 36
37
38 39

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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.