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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
WANT icon
1026
CALL
Direxion Daily Consumer Discretionary Bull 3X ETF
WANT
$19.2M
– –
-700
Closed -$38.1K
WANT icon
1027
Direxion Daily Consumer Discretionary Bull 3X ETF
WANT
$19.2M
– –
-4,025
Closed -$219K
WEST icon
1028
CALL
Westrock Coffee
WEST
$797M
– –
-10,000
Closed -$64.2K
WEST icon
1029
Westrock Coffee
WEST
$797M
– –
-13,145
Closed -$84.4K
WGMI icon
1030
CoinShares ETF Trust CoinShares Bitcoin Mining ETF
WGMI
$276M
– –
-26,313
Closed -$584K
WGMI icon
1031
PUT
CoinShares ETF Trust CoinShares Bitcoin Mining ETF
WGMI
$276M
– –
-30,800
Closed -$683K
WIMI
1032
CALL
WiMi Hologram Cloud
WIMI
$22.8M
– –
-3,100
Closed -$57.4K
WIMI
1033
PUT
WiMi Hologram Cloud
WIMI
$22.8M
– –
-50
Closed -$925
WPC icon
1034
CALL
W.P. Carey
WPC
$16.6B
– –
-8,700
Closed -$491K
WPC icon
1035
W.P. Carey
WPC
$16.6B
– –
-513
Closed -$27.9K
WPC icon
1036
PUT
W.P. Carey
WPC
$16.6B
– –
-1,900
Closed -$107K
X
1037
DELISTED
US Steel
X
– –
-3,052
Closed -$115K
XITK icon
1038
CALL
State Street SPDR FactSet Innovative Technology ETF
XITK
$70M
– –
-2,800
Closed -$487K
XITK icon
1039
State Street SPDR FactSet Innovative Technology ETF
XITK
$70M
– –
-1
Closed -$174
XITK icon
1040
PUT
State Street SPDR FactSet Innovative Technology ETF
XITK
$70M
– –
-100
Closed -$17.4K
XLG icon
1041
Invesco S&P 500 Top 50 ETF
XLG
$10.8B
– –
-5,494
Closed -$274K
XLG icon
1042
PUT
Invesco S&P 500 Top 50 ETF
XLG
$10.8B
– –
-1,400
Closed -$69.9K
XLU icon
1043
CALL
State Street Utilities Select Sector SPDR ETF
XLU
$22.9B
– –
-36,600
Closed -$1.39M
XOP icon
1044
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.69B
– –
-2,219
Closed -$294K
YMAX icon
1045
YieldMax Universe Fund of Option Income ETFs
YMAX
$393M
– –
-972
Closed -$15.2K
AMDL icon
1046
GraniteShares 2x Long AMD Daily ETF
AMDL
$950M
– –
-63,406
Closed -$486K
AMDL icon
1047
PUT
GraniteShares 2x Long AMD Daily ETF
AMDL
$950M
– –
-8,100
Closed -$62K
AMZZ icon
1048
GraniteShares 2x Long AMZN Daily ETF
AMZZ
$53.6M
– –
-6,130
Closed -$212K
AMZZ icon
1049
PUT
GraniteShares 2x Long AMZN Daily ETF
AMZZ
$53.6M
– –
-800
Closed -$27.6K
ALAB icon
1050
CALL
Astera Labs
ALAB
$54.6B
– –
-15,200
Closed -$2.01M
40 41
42
43 44

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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.