Belvedere Trading portfolio

What changed this quarter

269 positions with a change (111 new, 53 added to, 54 trimmed, 51 sold); also, 12 entered through an IPO, 6 exited through an acquisition or merger, 1 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• NVIDIA+111%more sharesIncreased
  21.9% → 33.0%
• State Str Spdr S&P 500 ETF T−14.8 ppof portfolioSold out
  23.7% → —
• Micron Technology+12.5 ppof portfolioNew
  — → 12.5%
• Sandisk+756%more sharesIncreased
  0.5% → 10.3%
• Meta Platforms−71%fewer sharesReduced
  11.3% → 2.0%
• Intel+4.2 ppof portfolioNew
  — → 4.2%
• Tesla+3.8 ppof portfolioNew
  — → 3.8%
• Ishares Bitcoin Trust ETF−72%fewer sharesReduced
  6.5% → 1.0%
• Apple+2.3 ppof portfolioNew
  — → 2.3%
• Amazon.com+568%more sharesIncreased
  0.6% → 2.7%
• Broadcom+2.0 ppof portfolioNew
  — → 2.0%
• iShares Silver Trust ETF−1.4 ppof portfolioSold out
  2.2% → —

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA33.0%
• Micron TechnologyMU12.5%
• SandiskSNDK10.3%
• IntelINTC4.2%
• TeslaTSLA3.8%
• Amazon.comAMZN2.7%
• StrategyMSTR2.5%
• AppleAAPL2.3%
• Roundhill ETF TrustDRAM2.1%
• Meta PlatformsMETA2.0%
• BroadcomAVGO2.0%
• SPDR Gold Shares ETFGLD1.7%
• Advanced Micro DevicesAMD1.4%
• Investment Managers SER Tr ISNXX1.3%
• Global X Silver Miners ETFSIL1.1%
• iShares Ustechnology ETFIYW1.1%
• Ishares Bitcoin Trust ETFIBIT1.0%
• Direxion Shares ETF TrustMUU0.9%
• Global X Uranium ETFURA0.8%
• Direxion Shares ETF TrustSOXSGBP0.6%
• Direxion Shares ETF TrustSOXL0.6%
• Super Micro ComputerSMCI0.5%
• Kraneshares Public-private A ETFAGIX0.4%
• Tema ETF TrustNASA0.3%
• ProShares Ultrashort Bloombe ETFSCO0.3%
• iShares China Large-cap ETFFXI0.3%
• Invesco S&P 500 Momentum ETFSPMO0.3%
• Vaneck ETF TrustCRAK0.3%
• iShares Core S&P 500 ETFIVV0.2%
• ProShares Ultra Bloomberg CR ETFUCO0.2%
• iShares 20+ Year Treasury BD ETFTLT0.2%
• Global X Copper Miners ETFCOPX0.2%
• Invesco DB Multi-sector CommDBB0.2%
• United STS Brent Oil FundBNO0.2%
• United STS Oil FundUSO0.2%
• Barclays BankVXX0.2%
• Exchange Traded Concepts TRUNUKZ0.2%
• Tidal Trust IICHAT0.2%
• Corgi Litho & Semicond Photo ETFEUV0.1%
• Investment Managers SER Tr ILABX0.1%
• ASML HoldingASML0.1%
• agilon healthAGL0.1%
• State Street SPDR S&P Aerospace DEF ETFXAR0.1%
• Vanguard Emerg Mkts GOV BND ETFVWOB0.1%
• ProShares Short Bitc ETF-usd ETFBITI0.1%
• Vaneck ETF TrustGDX0.1%
• iShares Expanded Tech-softwa ETFIGV0.1%
• Direxion Shares ETF TrustAAPU0.1%
• iShares Expanded Tech Sector ETFIGM0.1%
• iShares Msci USA Momentum FA ETFMTUM0.1%
• Vaneck ETF TrustREMX0.1%
• State Str Spdr DOW Jones INDDIA0.1%
• FedExFDX0.1%
• ETF Opportunities TrustRAM0.1%
• Direxion Shares ETF TrustAMUU0.1%
• IsharesSLVP0.1%
• iShares Msci USA Value Facto ETFVLUE0.1%
• KLAKLAC0.1%
• Vanguard Info Tech ETFVGT0.1%
• United STS Gasoline FundUGA0.1%
• Pros K-1 Free CR Oil ETF-usd ETFOILK0.1%
• Neos ETF TrustIAUI0.1%
• NWPX InfrastructureNWPX0.1%
• Vanguard International Equity Index FVPL0.1%
• Western DigitalWDC0.1%
• Proshares TrETHD0.1%
• Listed Funds TrMAGS0.1%
• Granite 2x Long Dell ETFDLLL0.1%
• Direxion Shares ETF TrustTMV0.1%
• iShares U.s. Aerospace & DEF ETFITA0.1%
• IsharesEMXC0.1%
• Investment Managers SER Tr IAAOX0.1%
• Vanguard Russell 2000 Growth ETFVTWG0.1%
• Honeywell InternationalHON0.1%
• IsharesEWZ0.1%
• Direxion Shares ETF TrustTSMX0.1%
• Direxion Shares ETF TrustYANG0.1%
• iShares Copper and Metals ETFICOP0.1%
• Themes ETF TrSPCH0.1%
• Invesco S&P 500 High Beta ET ETFSPHB0.1%
• Roundhill ETF TrustGOOW0.1%
• Ishares TrHYG0.1%
• IsharesIEMG0.1%
• Direxion Shares ETF TrustAVL0.1%
• iShares Future AI & Tech ETFARTY0.1%
• Honeywell AerospaceHONA0.1%
• Direxion Shares ETF TrustDUST0.1%
• ETF Opportunities TrustNVDX0.1%
• Coeur MiningCDE0.1%
• Abrdn Palladium ETF TrustPALL0.1%
• Vaneck ETF TrustGDXJ0.1%
• MicrosoftMSFT0.1%
• Direxion Shares ETF TrustTZAEURunder 0.1%
• Direxion Shares ETF TrustTNAunder 0.1%
• ETF Opportunities TrustFOTOunder 0.1%
• Investment Managers SER Tr ILRCUunder 0.1%
• StriveASSTunder 0.1%
• Webster FinancialWBSunder 0.1%
• First Trst Nasd CL EDG Sgiif ETFGRIDunder 0.1%
• GrahamGHMunder 0.1%