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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
AZEK
151
DELISTED
The AZEK Co
AZEK
$793K ﹤0.01%
+16,228
New +$769K
MSTX
152
PUT
Defiance Daily Target 2x Long MSTR ETF
MSTX
$154M
$786K ﹤0.01%
1,980
-5,440
-73% -$2.06M
MSTU
153
CALL
T-Rex 2X Long MSTR Daily Target ETF
MSTU
$347M
$786K ﹤0.01%
14,390
-25,980
-64% -$2.09M
SMCX
154
CALL
Defiance Daily Target 2X Long SMCI ETF
SMCX
$170M
$783K ﹤0.01%
13,200
-3,450
-21% -$353K
IYY icon
155
CALL
iShares Dow Jones US ETF
IYY
$3.05B
$776K ﹤0.01%
5,700
+100
+2% +$14.3K
SVIX icon
156
PUT
-1x Short VIX Futures ETF
SVIX
$184M
$771K ﹤0.01%
37,900
-3,500
-8% -$84.3K
VONG icon
157
CALL
Vanguard Russell 1000 Growth ETF
VONG
$44.8B
$761K ﹤0.01%
8,200
+1,700
+26% +$173K
FUTU icon
158
PUT
Futu Holdings
FUTU
$15B
$757K ﹤0.01%
7,400
+2,100
+40% +$215K
TSLQ icon
159
CALL
Tradr TSLA Bear Daily ETF
TSLQ
$105M
$755K ﹤0.01%
+8,300
New +$938K
LEU icon
160
CALL
Centrus Energy
LEU
$3.77B
$753K ﹤0.01%
+12,100
New +$1.02M
BBCA icon
161
CALL
JPMorgan BetaBuilders Canada ETF
BBCA
$11.1B
$744K ﹤0.01%
10,400
– –
SCHG icon
162
CALL
Schwab US Large-Cap Growth ETF
SCHG
$62.4B
$721K ﹤0.01%
28,800
-2,400
-8% -$65.7K
KC
163
CALL
Kingsoft Cloud Holdings
KC
$3.61B
$718K ﹤0.01%
+50,000
New +$749K
MSTY icon
164
PUT
YieldMax MSTR Option Income Strategy ETF
MSTY
$750M
$712K ﹤0.01%
7,000
-7,740
-53% -$957K
HSAI
165
CALL
Hesai Group
HSAI
$2.73B
$690K ﹤0.01%
+46,600
New +$794K
NNE
166
PUT
Nano Nuclear Energy
NNE
$956M
$672K ﹤0.01%
25,400
+15,900
+167% +$486K
ION icon
167
CALL
ProShares S&P Global Core Battery Metals ETF
ION
$12.6M
$669K ﹤0.01%
+26,000
New +$684K
EETH icon
168
ProShares Ether Strategy ETF
EETH
$55M
$662K ﹤0.01%
+19,342
New +$976K
FXL icon
169
PUT
First Trust Technology AlphaDEX Fund
FXL
$2.69B
$661K ﹤0.01%
5,000
+2,000
+67% +$296K
BIL icon
170
PUT
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.9B
$642K ﹤0.01%
7,000
+4,800
+218% +$440K
CWEB icon
171
CALL
Direxion Daily CSI China Internet Index Bull 2X ETF
CWEB
$250M
$629K ﹤0.01%
+14,600
New +$588K
KBA icon
172
CALL
KraneShares Bosera MSCI China A 50 Connect Index ETF
KBA
$148M
$624K ﹤0.01%
+26,400
New +$619K
USG icon
173
CALL
USCF Gold Strategy Plus Income Fund
USG
$9.24M
$615K ﹤0.01%
+17,900
New +$569K
SPMO icon
174
CALL
Invesco S&P 500 Momentum ETF
SPMO
$21.9B
$611K ﹤0.01%
6,600
+2,200
+50% +$215K
BIDU icon
175
Baidu
BIDU
$37.1B
$610K ﹤0.01%
6,633
-4,201
-39% -$377K
5 6
7
8 9

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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.