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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
BBH icon
201
CALL
VanEck Biotech ETF
BBH
$408M
$472K ﹤0.01%
+3,000
New +$487K
PTEC
202
CALL
DELISTED
Global X PropTech ETF
PTEC
$467K ﹤0.01%
+13,800
New +$482K
SARK icon
203
PUT
Tradr 2X Long Innovation ETFShort Innovation Daily ETF
SARK
$43.6M
$463K ﹤0.01%
+9,000
New +$359K
SDEM icon
204
CALL
Global X MSCI SuperDividend Emerging Markets ETF
SDEM
$44.7M
$457K ﹤0.01%
+17,700
New +$446K
JUCY icon
205
PUT
Aptus Enhanced Yield ETF
JUCY
$317M
$454K ﹤0.01%
+19,900
New +$455K
METU
206
PUT
Direxion Daily META Bull 2X ETF
METU
$373M
$453K ﹤0.01%
14,900
+10,900
+273% +$432K
MARA icon
207
PUT
Marathon Digital Holdings
MARA
$4.21B
$453K ﹤0.01%
39,400
+5,800
+17% +$92.3K
UYG icon
208
ProShares Ultra Financials
UYG
$855M
$446K ﹤0.01%
5,000
+899
+22% +$81.9K
EWG icon
209
PUT
iShares MSCI Germany ETF
EWG
$1.61B
$445K ﹤0.01%
+12,000
New +$429K
QQQM icon
210
CALL
Invesco NASDAQ 100 ETF
QQQM
$101B
$444K ﹤0.01%
2,300
-1,800
-44% -$377K
COOP
211
PUT
DELISTED
Mr. Cooper
COOP
$443K ﹤0.01%
+3,700
New +$386K
METU
212
CALL
Direxion Daily META Bull 2X ETF
METU
$373M
$438K ﹤0.01%
14,400
+10,700
+289% +$424K
VTV icon
213
CALL
Vanguard Morningstar Value ETF
VTV
$191B
$432K ﹤0.01%
2,500
– –
BITO icon
214
PUT
ProShares Bitcoin Strategy ETF
BITO
$1.44B
$431K ﹤0.01%
23,500
-124,000
-84% -$2.69M
XSD icon
215
CALL
State Street SPDR S&P Semiconductor ETF
XSD
$2.95B
$422K ﹤0.01%
+2,100
New +$499K
CRWD icon
216
CrowdStrike
CRWD
$211B
$421K ﹤0.01%
+4,776
New +$455K
YMAX icon
217
PUT
YieldMax Universe Fund of Option Income ETFs
YMAX
$399M
$418K ﹤0.01%
31,300
+15,000
+92% +$235K
MSTU
218
PUT
T-Rex 2X Long MSTR Daily Target ETF
MSTU
$349M
$417K ﹤0.01%
7,630
-98,550
-93% -$7.94M
BKCH icon
219
PUT
Global X Blockchain ETF
BKCH
$208M
$413K ﹤0.01%
12,500
+3,900
+45% +$188K
K
220
PUT
DELISTED
Kellanova
K
$412K ﹤0.01%
5,000
-400
-7% -$32.8K
NVDX icon
221
CALL
T-Rex 2X Long NVIDIA Daily Target ETF
NVDX
$502M
$412K ﹤0.01%
42,400
-86,700
-67% -$1M
SRLN icon
222
PUT
State Street Blackstone Senior Loan ETF
SRLN
$5.33B
$411K ﹤0.01%
+10,000
New +$416K
SRLN icon
223
State Street Blackstone Senior Loan ETF
SRLN
$5.33B
$411K ﹤0.01%
+9,997
New +$416K
SPUU icon
224
PUT
Direxion Daily S&P 500 Bull 2X ETF
SPUU
$280M
$410K ﹤0.01%
+3,100
New +$457K
VONE icon
225
CALL
Vanguard Russell 1000 ETF
VONE
$8.53B
$406K ﹤0.01%
1,600
+900
+129% +$241K
7 8
9
10 11

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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.