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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
TMF icon
151
Direxion Daily 20+ Year Treasury Bull 3X ETF
TMF
$2.22B
$872K ﹤0.01%
22,232
+21,767
+4,681% +$840K
MSTU
152
CALL
T-Rex 2X Long MSTR Daily Target ETF
MSTU
$326M
$861K ﹤0.01%
9,950
-4,440
-31% -$336K
BTCL
153
T-Rex 2X Long Bitcoin Daily Target ETF
BTCL
$22.2M
$860K ﹤0.01%
16,044
+8,455
+111% +$396K
CONL icon
154
PUT
GraniteShares 2x Long COIN Daily ETF
CONL
$485M
$858K ﹤0.01%
+18,600
New +$437K
CONI
155
GraniteShares 2x Short COIN Daily ETF
CONI
$11.4M
$851K ﹤0.01%
+17,652
New +$3.16M
SMCX
156
CALL
Defiance Daily Target 2X Long SMCI ETF
SMCX
$127M
$850K ﹤0.01%
8,600
-4,600
-35% -$320K
IVE icon
157
CALL
iShares S&P 500 Value ETF
IVE
$49.1B
$840K ﹤0.01%
+4,300
New +$801K
QQQM icon
158
CALL
Invesco NASDAQ 100 ETF
QQQM
$93B
$840K ﹤0.01%
3,700
+1,400
+61% +$287K
NLR icon
159
PUT
VanEck Uranium + Nuclear Energy ETF
NLR
$3.67B
$823K ﹤0.01%
7,400
-5,500
-43% -$489K
GGLL icon
160
Direxion Daily GOOGL Bull 2X ETF
GGLL
$889M
$808K ﹤0.01%
+23,250
New +$721K
MARA icon
161
PUT
Marathon Digital Holdings
MARA
$3.83B
$806K ﹤0.01%
51,400
+12,000
+30% +$172K
GOOGL icon
162
Alphabet (Google) Class A
GOOGL
$4.12T
$802K ﹤0.01%
+4,553
New +$745K
MAGX icon
163
CALL
Roundhill Daily 2X Long Magnificent Seven ETF
MAGX
$48.5M
$800K ﹤0.01%
+18,700
New +$650K
UBRL
164
CALL
GraniteShares 2x Long UBER Daily ETF
UBRL
$19.1M
$800K ﹤0.01%
+24,000
New +$647K
CRWL
165
CALL
GraniteShares 2x Long CRWD Daily ETF
CRWL
$37.3M
$783K ﹤0.01%
18,500
+5,400
+41% +$173K
BIDU icon
166
CALL
Baidu
BIDU
$35.7B
$772K ﹤0.01%
9,000
-27,500
-75% -$2.37M
FBL icon
167
CALL
GraniteShares ETF Trust GraniteShares 2x Long META Daily ETF
FBL
$172M
$769K ﹤0.01%
16,800
-28,700
-63% -$956K
ION icon
168
CALL
ProShares S&P Global Core Battery Metals ETF
ION
$11.5M
$757K ﹤0.01%
26,100
+100
+0.4% +$2.63K
TSLR icon
169
CALL
GraniteShares 2x Long TSLA Daily ETF
TSLR
$54.3M
$756K ﹤0.01%
40,000
+22,400
+127% +$413K
RIOX
170
CALL
Defiance Daily Target 2X Long RIOT ETF
RIOX
$12.2M
$756K ﹤0.01%
17,000
+16,067
+1,722% +$448K
LVWR icon
171
CALL
LiveWire
LVWR
$530M
$752K ﹤0.01%
+163,500
New +$490K
SIVR icon
172
abrdn Physical Silver Shares ETF
SIVR
$3.98B
$742K ﹤0.01%
+21,572
New +$692K
KORU icon
173
CALL
Direxion Daily MSCI South Korea Bull 3X ETF
KORU
$902M
$736K ﹤0.01%
+182,000
New +$458K
QBTX
174
CALL
Tradr 2X Long QBTS Daily ETF
QBTX
$60.6M
$731K ﹤0.01%
+31,800
New +$741K
VRT icon
175
Vertiv
VRT
$85.7B
$726K ﹤0.01%
+5,652
New +$550K
5 6
7
8 9

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Mariner
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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.