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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
LEU icon
926
CALL
Centrus Energy
LEU
$3.48B
– –
-12,100
Closed -$753K
LEU icon
927
PUT
Centrus Energy
LEU
$3.48B
– –
-600
Closed -$37.3K
LLY icon
928
CALL
Eli Lilly
LLY
$1.03T
– –
-7,000
Closed -$5.78M
LQD icon
929
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
– –
-2,574
Closed -$280K
LWLG icon
930
CALL
Lightwave Logic
LWLG
$931M
– –
-92,600
Closed -$94.9K
MIDU icon
931
CALL
Direxion Daily Mid Cap Bull 3X ETF
MIDU
$69M
– –
-100
Closed -$4.13K
MIDU icon
932
PUT
Direxion Daily Mid Cap Bull 3X ETF
MIDU
$69M
– –
-4,900
Closed -$202K
MLGO
933
CALL
MicroAlgo
MLGO
$44.3M
– –
-530
Closed -$386K
MLGO
934
PUT
MicroAlgo
MLGO
$44.3M
– –
-20
Closed -$14.6K
NN icon
935
CALL
NextNav
NN
$1.83B
– –
-10,100
Closed -$123K
NN icon
936
PUT
NextNav
NN
$1.83B
– –
-1,400
Closed -$17K
NOTV
937
PUT
DELISTED
Inotiv
NOTV
– –
-100
Closed -$221
NPWR icon
938
NET Power
NPWR
$130M
– –
-9,869
Closed -$20.7K
NPWR icon
939
PUT
NET Power
NPWR
$130M
– –
-12,100
Closed -$31.8K
NUGT icon
940
Direxion Daily Gold Miners Index Bull 2X ETF
NUGT
$909M
– –
-4,265
Closed -$265K
NVDL icon
941
GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF
NVDL
$3.15B
– –
-77,409
Closed -$1.21M
NVDQ icon
942
CALL
T-Rex 2X Inverse NVIDIA Daily Target ETF
NVDQ
$23M
– –
-695
Closed -$52.3K
NVDQ icon
943
PUT
T-Rex 2X Inverse NVIDIA Daily Target ETF
NVDQ
$23M
– –
-60
Closed -$4.52K
NVDS icon
944
CALL
Tradr 1.25X NVDA Bear Daily ETF
NVDS
$16.8M
– –
-3,333
Closed -$291K
NVDS icon
945
PUT
Tradr 1.25X NVDA Bear Daily ETF
NVDS
$16.8M
– –
-133
Closed -$11.7K
PATK icon
946
CALL
Patrick Industries
PATK
$2.79B
– –
-3,150
Closed -$266K
PILL icon
947
Direxion Daily Pharmaceutical & Medical Bull 3X ETF
PILL
$22.5M
– –
-10,030
Closed -$72.4K
PLCE icon
948
CALL
Children's Place
PLCE
$54.3M
– –
-3,100
Closed -$27.1K
PLCE icon
949
Children's Place
PLCE
$54.3M
– –
-11,922
Closed -$104K
PLCE icon
950
PUT
Children's Place
PLCE
$54.3M
– –
-11,700
Closed -$102K
36 37
38
39 40

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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.