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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
ETHD
101
CALL
ProShares UltraShort Ether ETF
ETHD
$55.7M
$1.41M ﹤0.01%
+2,590
New +$878K
FBL icon
102
CALL
GraniteShares ETF Trust GraniteShares 2x Long META Daily ETF
FBL
$177M
$1.39M ﹤0.01%
45,500
+40,000
+727% +$1.57M
CWEB icon
103
Direxion Daily CSI China Internet Index Bull 2X ETF
CWEB
$250M
$1.38M ﹤0.01%
31,978
-7,360
-19% -$296K
SPYG icon
104
CALL
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
$54.1B
$1.37M ﹤0.01%
17,100
+700
+4% +$61.1K
ROAD icon
105
CALL
Construction Partners
ROAD
$5.78B
$1.36M ﹤0.01%
18,900
+5,900
+45% +$465K
PTIR
106
CALL
GraniteShares 2x Long PLTR Daily ETF
PTIR
$423M
$1.36M ﹤0.01%
153,000
-27,000
-15% -$294K
BERY
107
CALL
DELISTED
Berry Global Group, Inc.
BERY
$1.35M ﹤0.01%
18,000
– –
NVDU icon
108
CALL
Direxion Daily NVDA Bull 2X ETF
NVDU
$626M
$1.33M ﹤0.01%
25,300
-6,400
-20% -$498K
LEN icon
109
Lennar Class A
LEN
$20.5B
$1.28M ﹤0.01%
+11,165
New +$1.39M
SARK icon
110
CALL
Tradr 2X Long Innovation ETFShort Innovation Daily ETF
SARK
$43.6M
$1.25M ﹤0.01%
+27,400
New +$1.09M
LEN icon
111
PUT
Lennar Class A
LEN
$20.5B
$1.22M ﹤0.01%
+9,500
New +$1.19M
BABX icon
112
CALL
GraniteShares ETF Trust GraniteShares 2x Long BABA Daily ETF
BABX
$110M
$1.16M ﹤0.01%
+32,600
New +$954K
BITU icon
113
PUT
ProShares Ultra Bitcoin ETF
BITU
$356M
$1.16M ﹤0.01%
34,800
-13,100
-27% -$608K
XMMO icon
114
PUT
Invesco S&P MidCap Momentum ETF
XMMO
$7.49B
$1.15M ﹤0.01%
10,100
+9,400
+1,343% +$1.16M
DXJ icon
115
CALL
WisdomTree Japan Hedged Equity Fund
DXJ
$7.37B
$1.1M ﹤0.01%
10,000
-3,000
-23% -$330K
ROBN
116
T-Rex 2X Long HOOD Daily Target ETF
ROBN
$91.4M
$1.1M ﹤0.01%
+87,463
New +$1.73M
DVY icon
117
CALL
iShares Select Dividend ETF
DVY
$23.5B
$1.07M ﹤0.01%
+8,000
New +$1.07M
SKYY icon
118
CALL
First Trust Cloud Computing ETF
SKYY
$3.02B
$1.07M ﹤0.01%
10,500
+10,400
+10,400% +$1.24M
NLR icon
119
VanEck Uranium + Nuclear Energy ETF
NLR
$4.07B
$1.07M ﹤0.01%
14,546
+4,172
+40% +$350K
VTI icon
120
CALL
Vanguard Morningstar Total Stock Market ETF
VTI
$680B
$1.04M ﹤0.01%
+3,800
New +$1.1M
VXX icon
121
CALL
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$147M
$1.04M ﹤0.01%
20,200
-43,700
-68% -$2.02M
INDA icon
122
PUT
iShares MSCI India ETF
INDA
$6.61B
$1.03M ﹤0.01%
+20,000
New +$1.01M
MTUM icon
123
iShares MSCI USA Momentum Factor ETF
MTUM
$26.4B
$1.01M ﹤0.01%
+4,997
New +$1.07M
DXJ icon
124
PUT
WisdomTree Japan Hedged Equity Fund
DXJ
$7.37B
$1M ﹤0.01%
9,100
+8,500
+1,417% +$935K
AGQ icon
125
ProShares Ultra Silver
AGQ
$1.26B
$998K ﹤0.01%
+21,630
New +$887K
3 4
5
6 7

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Focus Partners Wealth
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Qube Research & Technologies (QRT)
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Squarepoint
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Sanders Capital
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Mackenzie Financial
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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.