1y return+2.6%S&P 500 +20.9%
3y return+112.0%S&P 500 +68.5%
5y return+144.0%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since March 31, 2020: $388 against $290 in the S&P 500.2
Belvedere Trading LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NVDANvidia Corporation | $396.6M | 33.0% | +111.0% |
| MUMicron Technology Inc | $150.1M | 12.5% | New |
| SNDKSandisk Corp | $123.2M | 10.3% | +755.5% |
| INTCIntel Corp | $50.6M | 4.2% | New |
| TSLATesla Inc | $46.0M | 3.8% | New |
| AMZNAmazon Com Inc | $32.0M | 2.7% | +568.3% |
| MSTRStrategy Inc Cl | $30.2M | 2.5% | +11.6% |
| AAPLApple Inc | $27.3M | 2.3% | New |
| DRAMRoundhill | $25.0M | 2.1% | New |
| METAMeta Platforms Inc | $24.4M | 2.0% | −70.8% |
| AVGOBroadcom Inc | $23.4M | 2.0% | New |
| GLDSpdr Gold Tr Gold | $20.2M | 1.7% | −30.0% |
| AMDAdvanced Micro Devices Inc | $17.0M | 1.4% | −56.8% |
| SNXXInvestment Managers Ser Tr I Trad 2x | $15.2M | 1.3% | +1245.1% |
| SILGlobal X Fds Global | $13.5M | 1.1% | +45.4% |
| IYWIshares Tr U.s. | $13.2M | 1.1% | +381.8% |
| IBITIshares Bitcoin Trust Etf Shs | $11.9M | 1.0% | −72.0% |
| MUUDirexion Shares Etf Trust Dly Mu | $11.0M | 0.9% | −24.5% |
| URAGlobal X Fds Global | $9.7M | 0.8% | +626.9% |
| Direxion Shares Etf Trust Dai SemCUSIP 25461H572 | $7.2M | 0.6% | +2114.9% |
| SOXLDirexion Shares Etf Trust Dai Sem | $7.2M | 0.6% | −67.7% |
| SMCISuper Micro Computer Inc | $6.5M | 0.5% | New |
| AGIXKraneshares | $4.4M | 0.4% | New |
| NASATema | $3.8M | 0.3% | New |
| SCOProshares Tr | $3.5M | 0.3% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| AMDAdvanced Micro Devices Inc | December 31, 2024 | +380.9% | $17.0M |
| NVDANvidia Corporation | September 30, 2023 | +360.0% | $396.6M |
| AMZNAmazon Com Inc | December 31, 2023 | +56.9% | $32.0M |
| IYWIshares Tr U.s. | March 31, 2026 | +39.0% | $13.2M |
| SNXXInvestment Managers Ser Tr I Trad 2x | March 31, 2026 | +15.5% | $15.2M |
| IVVIshares Tr | March 31, 2026 | +14.6% | $3.0M |
| SILGlobal X Fds Global | September 30, 2025 | +8.1% | $13.5M |
| COPXGlobal X Fds Global | December 31, 2025 | +7.2% | $2.7M |
| DBBInvesco Db Multi-sector Comm | March 31, 2026 | +2.6% | $2.2M |
| METAMeta Platforms Inc | March 31, 2026 | −1.5% | $24.4M |
Sold off last quarter
- SPYState Str Spdr S&p 500 Etf T Tr was $178.1M
- IWMIshares was $25.0M
- SLVRSprott Fds was $22.4M
- SLVIshares Silver Tr was $16.4M
- PLTRPalantir Technologies Inc was $7.9M
- SQQQProshares was $2.6M
- NUGTDirexion Shares Etf Trust Daily was $1.9M
- Ishares Ethereum TrCUSIP 46438R105 was $1.5M
- PTNQPacer Fds was $1.5M
- TQQQProshares was $1.5M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +6.9% | +14.8% |
| March 31, 2026 | −5.0% | −4.6% |
| December 31, 2025 | −1.9% | +2.4% |
| September 30, 2025 | +3.0% | +7.8% |
| June 30, 2025 | +28.8% | +10.5% |
| March 31, 2025 | −12.7% | −4.6% |
| December 31, 2024 | +12.6% | +2.1% |
| September 30, 2024 | +3.0% | +5.4% |
| June 30, 2024 | +18.7% | +4.0% |
| March 31, 2024 | +24.1% | +10.0% |
| December 31, 2023 | +11.1% | +11.2% |
| September 30, 2023 | −3.2% | −3.6% |
| June 30, 2023 | +11.3% | +8.3% |
| March 31, 2023 | +36.1% | +7.0% |
| December 31, 2022 | −11.7% | +7.1% |
| September 30, 2022 | −7.9% | −5.3% |
| June 30, 2022 | −13.3% | −16.5% |
| March 31, 2022 | −3.8% | −4.9% |
| December 31, 2021 | +13.9% | +10.7% |
| September 30, 2021 | −1.6% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Belvedere Trading LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1632341&type=13F-HR&dateb=&owner=include&count=40CIK 1632341
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1632341/000106299326003963/Filed July 31, 2026 · accession 0001062993-26-003963