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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
TSLR icon
1001
GraniteShares 2x Long TSLA Daily ETF
TSLR
$58.1M
– –
-21,747
Closed -$401K
TSLT icon
1002
CALL
T-REX 2X Long Tesla Daily Target ETF
TSLT
$123M
– –
-3,600
Closed -$47K
TSLT icon
1003
T-REX 2X Long Tesla Daily Target ETF
TSLT
$123M
– –
-20,347
Closed -$266K
TSLT icon
1004
PUT
T-REX 2X Long Tesla Daily Target ETF
TSLT
$123M
– –
-1,100
Closed -$14.4K
TSLZ icon
1005
PUT
T-Rex 2X Inverse Tesla Daily Target ETF
TSLZ
$49M
– –
-15
Closed -$1.26K
TSM icon
1006
TSMC
TSM
$2.09T
– –
-1,627
Closed -$270K
TTE icon
1007
TotalEnergies
TTE
$193B
– –
-220
Closed -$14.2K
TTE icon
1008
PUT
TotalEnergies
TTE
$193B
– –
-4,000
Closed -$259K
TUYA
1009
Tuya Inc
TUYA
$1.04B
– –
-39,571
Closed -$120K
UNL icon
1010
United States 12 Month Natural Gas Fund
UNL
$13.5M
– –
-27,373
Closed -$249K
URE icon
1011
ProShares Ultra Real Estate
URE
$58.4M
– –
-7,330
Closed -$479K
URNM icon
1012
CALL
Sprott Uranium Miners ETF
URNM
$1.79B
– –
-700
Closed -$22.7K
URNM icon
1013
Sprott Uranium Miners ETF
URNM
$1.79B
– –
-1,577
Closed -$51.2K
URNM icon
1014
PUT
Sprott Uranium Miners ETF
URNM
$1.79B
– –
-15,400
Closed -$500K
USCI icon
1015
US Commodity Index
USCI
$369M
– –
-2,810
Closed -$203K
UYG icon
1016
ProShares Ultra Financials
UYG
$829M
– –
-5,000
Closed -$446K
VIS icon
1017
CALL
Vanguard Industrials ETF
VIS
$8.04B
– –
-400
Closed -$99K
VIS icon
1018
Vanguard Industrials ETF
VIS
$8.04B
– –
-130
Closed -$32.2K
VIS icon
1019
PUT
Vanguard Industrials ETF
VIS
$8.04B
– –
-1,000
Closed -$248K
VOOV icon
1020
CALL
Vanguard S&P 500 Value ETF
VOOV
$6.61B
– –
-1,700
Closed -$313K
VOOV icon
1021
PUT
Vanguard S&P 500 Value ETF
VOOV
$6.61B
– –
-500
Closed -$92.1K
VOX icon
1022
Vanguard Communication Services ETF
VOX
$5.52B
– –
-131
Closed -$20.1K
VSH icon
1023
CALL
Vishay Intertechnology
VSH
$5.18B
– –
-21,900
Closed -$348K
VTEB icon
1024
CALL
Vanguard Tax-Exempt Bond Index Fund
VTEB
$45.2B
– –
-700
Closed -$34.7K
VTI icon
1025
CALL
Vanguard Morningstar Total Stock Market ETF
VTI
$657B
– –
-3,800
Closed -$1.04M
39 40
41
42 43

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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.