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Simplex Trading

Simplex Trading Portfolio holdings

AUM $149B
1-Year Est. Return 62.07%
 

Simplex Trading, founded in 2004 and headquartered in Chicago, Illinois, is a technology-driven proprietary trading firm specializing in market-making and liquidity provision, primarily in U.S. equity options and futures options. Leveraging advanced proprietary software and data-driven analysis, the firm optimizes trading strategies and develops innovative solutions to capitalize on financial market opportunities, maintaining a competitive edge through automation and a collaborative team of technologists and traders. With a workforce exceeding 300 and led by CEO Erik Swanson since 2014, Simplex operates with a low-ego, high-intelligence culture, focusing on minimal bureaucracy and rapid execution, while also making strategic venture capital investments in fintech startups. Recognized as a top workplace in Chicago by Built In’s 2025 awards, Simplex continues to evolve, blending cutting-edge technology with a commitment to market efficiency and growth.

This Fund
S&P 500
This Quarter Est. Return
-4.36%
1 Year Est. Return
+62.07%
3 Year Est. Return
+116.86%
5 Year Est. Return
+116.02%
10 Year Est. Return
+774.44%
AUM
$156B
AUM Growth
-$22.4B
Cap. Flow
-$7.93B
Cap. Flow %
-5.08%
Top 10 Hldgs %
50.56%
Holding
10,070
New
1,566
Increased
3,139
Reduced
3,654
Closed
1,547

Top Buys

Rank Stock Value
1
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$272M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$99M
3
NVDA icon
NVIDIA
NVDA
+$89.9M
4
TSM icon
TSMC
TSM
+$87.7M
5
AMZN icon
Amazon
AMZN
+$61M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$518M
2
MSTR icon
Strategy Inc
MSTR
+$81.2M
3
BABA icon
Alibaba
BABA
+$66.7M
4
AMD icon
Advanced Micro Devices
AMD
+$44.3M
5
UBER icon
Uber
UBER
+$41.3M

Sector Composition

Rank Sector Weight
1 Technology 0.41%
2 Consumer Discretionary 0.22%
3 Healthcare 0.17%
4 Communication Services 0.15%
5 Financials 0.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NGVT icon
9251
PUT
Ingevity
NGVT
$2.54B
– –
-200
Closed -$8K
NIC icon
9252
Nicolet Bankshares
NIC
$3.56B
– –
-69
Closed -$7K
NIC icon
9253
PUT
Nicolet Bankshares
NIC
$3.56B
– –
-100
Closed -$10K
NINE
9254
PUT
DELISTED
Nine Energy Service
NINE
– –
-1,100
Closed -$1K
NLOP
9255
PUT
Net Lease Office Properties
NLOP
$170M
– –
-900
Closed -$28K
NLY icon
9256
Annaly Capital Management
NLY
$16.7B
– –
-94,292
Closed -$1.94M
NMM icon
9257
Navios Maritime Partners
NMM
$2.17B
– –
-42,127
Closed -$1.78M
NMR icon
9258
CALL
Nomura Holdings
NMR
$28.6B
– –
-300
Closed -$1K
NMRA icon
9259
PUT
Neumora Therapeutics
NMRA
$282M
– –
-276,600
Closed -$2.93M
NNBR icon
9260
CALL
NN Inc
NNBR
$260M
– –
-900
Closed -$2K
NNBR icon
9261
NN Inc
NNBR
$260M
– –
-1,751
Closed -$5K
NNBR icon
9262
PUT
NN Inc
NNBR
$260M
– –
-2,500
Closed -$8K
NNVC icon
9263
PUT
NanoViricides
NNVC
$35.6M
– –
-2,300
Closed -$3K
NOA
9264
North American Construction
NOA
$376M
$0 ﹤0.01%
2
+1
+100% +$19
NOAH
9265
CALL
Noah Holdings
NOAH
$591M
– –
-1,100
Closed -$12K
NOVA
9266
DELISTED
Sunnova Energy
NOVA
– –
-93,350
Closed -$180K
NOVT icon
9267
Novanta
NOVT
$5.1B
– –
-56
Closed -$8.05K
NPCE icon
9268
Neuropace
NPCE
$496M
$0 ﹤0.01%
61
+25
+69% +$313
NREF
9269
PUT
NexPoint Real Estate Finance
NREF
$309M
– –
-100
Closed -$1K
NRP icon
9270
Natural Resource Partners
NRP
$1.27B
– –
-1,763
Closed -$185K
NSA icon
9271
National Storage Affiliates Trust
NSA
– –
-565
Closed -$21.3K
NSIT icon
9272
CALL
Insight Enterprises
NSIT
$3.51B
– –
-1,800
Closed -$273K
NSP icon
9273
CALL
Insperity
NSP
$1.85B
– –
-500
Closed -$38K
NSP icon
9274
PUT
Insperity
NSP
$1.85B
– –
-900
Closed -$69K
NSSC icon
9275
Napco Security Technologies
NSSC
$1.26B
$0 ﹤0.01%
+24
New +$681
369 370
371
372 373

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Simplex Trading's Q1 2025 Portfolio in Review

As of Q1 2025, Simplex Trading held 10,070 positions worth $156B, down 13% from $179B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Simplex Trading withdrew a net $7.93B in Q1 2025, closing 1,547 positions and reducing 3,654 holdings. Its most notable exit was Alibaba, an estimated $66.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 0.41% of assets, down from 0.68% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Simplex Trading opened a new position in iShares 20+ Year Treasury Bond ETF worth $278M.

  • Simplex Trading's largest Q1 2025 buy was iShares 20+ Year Treasury Bond ETF: 3,057,978 shares worth $278M.
  • Simplex Trading added most to NVIDIA in Q1 2025, an estimated $89.9M increase.
  • Simplex Trading's biggest Q1 2025 reduction was Apple, cutting an estimated $518M.
  • Simplex Trading fully exited Alibaba in Q1 2025, selling an estimated $66.7M.
  • Simplex Trading's ten largest holdings make up 51% of its $156B portfolio in Q1 2025.
  • Simplex Trading opened 1,566 new positions and closed 1,547 in Q1 2025.
  • Simplex Trading's portfolio value fell 13% quarter-over-quarter to $156B.

Based on Simplex Trading's 13F filing for Q1 2025, filed 12 May 2025.