ST

Simplex Trading, LLC

Diversified strategySector-focusedMomentum follower

Total reported value

$149.1B

Reporting period: 2026-03-31 · Number of holdings: 10161

SIMPLEX TRADING, LLC disclosed 10161 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $149.1B and a quarterly turnover rate of 31.4%.

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Personality snowflake

Concentration
20.93
Portfolio Stability
31.45
Momentum/Contrarian
65.27
Sector conviction
69.95
Diversification
100
Sizing Uniformity
0

Recent moves

  • Add 78462F953

    +2.2%　-$721.6M

  • Add SPY

    +11.4%　$827.8M

  • Trim TSLA

    -35.3%　-$2.7B

  • Trim 46090E953

    -26.8%　-$2.9B

  • Trim VOO

    -33.5%　-$2.0B

  • Trim TSLA

    -21.3%　-$1.8B

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

SIMPLEX TRADING is rotating capital out of concentrated tech single-names—TSLA, NVDA, GOOG—and adding to the SPY ETF, a deliberate shift from alpha-seeking stock selection to broad beta exposure. This is a defensive recalibration: reducing single-name risk in the cycle leaders while locking in market participation through the index.

Macro & Fundamentals

The fund is pricing in a regime shift where the narrow leadership of mega-cap tech is unsustainable, betting that breadth and the median stock will outperform the outliers. The opposing thesis is that the AI-driven momentum cycle remains intact—SIMPLEX is trimming winners too early, leaving excess returns on the table.

Blind Spots / Risks

The 8,927-holding portfolio with a 100% diversification score and zero position-sizing discipline creates a structural vulnerability: a closet index replication with a contrived momentum tilt. This crowds the strategy into consensus factor exposures and destroys the capacity for meaningful alpha, leaving the fund exposed to a sharp unwind of momentum as a reflexive, not fundamental, trade.

The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.

Top 10 holdings by weight

Full holdings list this quarter

Showing top 8927 holdings (of 10161 total)

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1✓ Spdr S&p 500 ETF TrETF-Large Cap & Growth18.39%+2.53%+2.17%
2SPYState Street SPDR S&P 500 ETF TrustETF-Large Cap & Growth9.44%+1.97%+11.41%
3✓ Stock-Other4.36%-0.96%-26.77%
4✓ Stock-Other4.02%—+8.80%
5TLTiShares 20+ Year Treasury Bond ETFETF-Gov Bonds3.43%+0.34%+1.97%
6TLTiShares 20+ Year Treasury Bond ETFETF-Gov Bonds2.60%+0.60%+27.98%
7TSLATesla, Inc.Stock-Consumer Disc2.29%-0.67%-21.34%
8NVDANVIDIA CorporationStock-Tech2.25%-0.52%-27.12%
9VOOVanguard S&P 500 ETFETF-Large Cap & Growth2.23%-0.79%-33.48%
10TSLATesla, Inc.Stock-Consumer Disc2.07%-1.19%-35.28%
11GLDSPDR Gold SharesETF-Commodities1.58%+0.15%-14.50%
12METAMeta Platforms, Inc.Stock-Comm Services1.58%-0.13%-10.77%
13AAPLApple Inc.Stock-Tech1.49%+0.07%-5.66%
14GOOGAlphabet Inc.Stock-Comm Services1.39%-0.19%-19.53%
15GLDSPDR Gold SharesETF-Commodities1.11%—-7.72%
16MSFTMicrosoft CorporationStock-Tech1.04%—+35.35%
17MCHXMarchex, Inc.Stock-Other1.03%-0.16%-22.24%
18✓ Amazon Com INCStock-Other0.98%—+19.45%
19GOOGAlphabet Inc.Stock-Comm Services0.97%-0.33%-31.32%
20✓ Meta Platforms INCStock-Other0.96%+0.06%+3.13%
21SLViShares Silver TrustETF-Commodities0.91%+0.26%+11.65%
22✓ Stock-Other0.69%+0.03%-8.37%
23AMZNAmazon.com, Inc.Stock-Consumer Disc0.61%—+0.70%
24MSFTMicrosoft CorporationStock-Tech0.59%-0.02%+5.47%
25SMHCVanEck China Semiconductor ETFETF-Emerging Markets0.55%—-30.82%
26✓ Stock-Other0.52%—+12.69%
27NFLXNetflix, Inc.Stock-Comm Services0.49%-0.04%-24.76%
28SLViShares Silver TrustETF-Commodities0.48%—-6.84%
29MUMicron Technology, Inc.Stock-Tech0.48%+0.20%+21.59%
30NFLXNetflix, Inc.Stock-Comm Services0.48%-0.03%-23.77%
31✓ Palantir Technologies INCStock-Other0.48%-0.13%-20.11%
32AMDAdvanced Micro Devices, Inc.Stock-Tech0.47%—-8.06%
33MUMicron Technology, Inc.Stock-Tech0.46%+0.23%+44.78%
34DIAState Street SPDR Dow Jones Industrial Average ETF TrustETF-Large Cap & Growth0.46%+0.27%+113.90%
35AVGOBroadcom Inc.Stock-Tech0.44%-0.27%-42.67%
36AMDAdvanced Micro Devices, Inc.Stock-Tech0.40%-0.15%-35.45%
37✓ Palantir Technologies INCStock-Other0.39%-0.23%-35.37%
38AVGOBroadcom Inc.Stock-Tech0.35%-0.16%-35.42%
39UNHUnitedHealth Group IncorporatedStock-Healthcare0.35%-0.17%-31.16%
40MSTRStrategy IncStock-Tech0.35%—+7.83%
41TLTiShares 20+ Year Treasury Bond ETFETF-Gov Bonds0.34%—+18.70%
42IBITiShares Bitcoin Trust ETFETF-Crypto0.34%-0.16%-26.44%
43TSMTaiwan Semiconductor Manufacturing Company LimitedStock-Tech0.33%+0.33%NEW
44UPSUnited Parcel Service, Inc.Stock-Industrials0.28%+0.26%+531.22%
45SMHCVanEck China Semiconductor ETFETF-Emerging Markets0.27%—+6.94%
46ORCLOracle CorporationStock-Tech0.26%—+16.68%
47IBITiShares Bitcoin Trust ETFETF-Crypto0.26%—+14.66%
48ORCLOracle CorporationStock-Tech0.24%-0.08%-16.85%
49UPSUnited Parcel Service, Inc.Stock-Industrials0.23%+0.15%+71.65%
50BABAAlibaba Group Holding LimitedStock-Consumer Disc0.22%—+3.83%
1–50 of 8,927

Holding changes this quarter

Simplex Trading, LLC's most significant position changes for 2026-03-31: New buy: Taiwan Semiconductor Manufacturing Company Limited (TSM); New buy: Taiwan Semiconductor Manufacturing Company Limited (TSM); New buy: Amazon.com INC (AMZN); Add: Spdr S&p 500 ETF Tr — shares +2.17%; Add: State Street SPDR S&P 500 ETF Trust (SPY) — shares +11.41%.

Position changes disclosed by Simplex Trading, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1✓ Spdr S&p 500 ETF Tr+2.5%+2.17%Add
2SPYState Street SPDR S&P 500 ETF Trust+2%+11.41%Add
3TLTiShares 20+ Year Treasury Bond ETF+0.6%+27.98%Add
4TLTiShares 20+ Year Treasury Bond ETF+0.3%+1.97%Add
5DIAState Street SPDR Dow Jones Industrial Average ETF Trust+0.3%+113.90%Add
6UPSUnited Parcel Service, Inc.+0.3%+531.22%Add
7SLViShares Silver Trust+0.3%+11.65%Add
8MUMicron Technology, Inc.+0.2%+44.78%Add
9MUMicron Technology, Inc.+0.2%+21.59%Add
10UPSUnited Parcel Service, Inc.+0.2%+643.40%Add
11UPSUnited Parcel Service, Inc.+0.2%+71.65%Add
12GLDSPDR Gold Shares+0.2%-14.50%Trim
13EWTiShares MSCI Taiwan ETF+0.1%+73.54%Add
14XOMExxon Mobil Corporation+0.1%+53.57%Add
15SNDKSandisk Corporation+0.1%+210.28%Add
16AAPLApple Inc.+0.1%-5.66%Trim
17✓ Meta Platforms INC+0.1%+3.13%Add
18✓ 0%-8.37%Trim
19MSFTMicrosoft Corporation0%+5.47%Add
20NFLXNetflix, Inc.0%-23.77%Trim
21NFLXNetflix, Inc.0%-24.76%Trim
22✓ Spdr Ser Tr-0.1%-37.20%Trim
23DKSDICK'S Sporting Goods, Inc.-0.1%-58.06%Trim
24ORCLOracle Corporation-0.1%-16.85%Trim
25BABAAlibaba Group Holding Limited-0.1%-30.56%Trim
26JPMJPMorgan Chase & Co.-0.1%-52.86%Trim
27UNHUnitedHealth Group Incorporated-0.1%-28.53%Trim
28AAPLApple INC-0.1%-94.39%Trim
29HOODRobinhood Markets, Inc.-0.1%-45.79%Trim
30MSTRStrategy Inc-0.1%-49.37%Trim
31METAMeta Platforms, Inc.-0.1%-10.77%Trim
32✓ Palantir Technologies INC-0.1%-20.11%Trim
33AMDAdvanced Micro Devices, Inc.-0.2%-35.45%Trim
34DIAState Street SPDR Dow Jones Industrial Average ETF Trust-0.2%-64.30%Trim
35MCHXMarchex, Inc.-0.2%-22.24%Trim
36IBITiShares Bitcoin Trust ETF-0.2%-26.44%Trim
37AVGOBroadcom Inc.-0.2%-35.42%Trim
38UNHUnitedHealth Group Incorporated-0.2%-31.16%Trim
39GOOGAlphabet Inc.-0.2%-19.53%Trim
40✓ Palantir Technologies INC-0.2%-35.37%Trim
41AVGOBroadcom Inc.-0.3%-42.67%Trim
42GOOGAlphabet Inc.-0.3%-31.32%Trim
43NVDANVIDIA Corporation-0.5%-27.12%Trim
44TSLATesla, Inc.-0.7%-21.34%Trim
45VOOVanguard S&P 500 ETF-0.8%-33.48%Trim
46✓ -1%-26.77%Trim
47TSLATesla, Inc.-1.2%-35.28%Trim
48TSMTaiwan Semiconductor Manufacturing Company Limited—NEWNew buy
49TSMTaiwan Semiconductor Manufacturing Company Limited—NEWNew buy
50AMZNAmazon.com INC—NEWNew buy

FAQ

What is Simplex Trading, LLC and what type of investor is it?
Simplex Trading, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $149.1B, spread across 10161 disclosed positions.
What are Simplex Trading, LLC's largest equity positions?
Based on the latest 13F filing, Simplex Trading, LLC's top holdings by market value are: 1. Spdr S&p 500 ETF Tr — $27.4B (18.4%) 2. State Street SPDR S&P 500 ETF Trust (SPY) — $14.1B (9.4%) 3. — $6.5B (4.4%) 4. — $6.0B (4.0%) 5. iShares 20+ Year Treasury Bond ETF (TLT) — $5.1B (3.4%)
What changes did Simplex Trading, LLC make in its most recent portfolio filing?
In the latest reported quarter, Simplex Trading, LLC made 50 notable position adjustments: 3 new positions were initiated, 16 existing holdings were added to, 31 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Taiwan Semiconductor Manufacturing Company Limited (TSM); New buy: Taiwan Semiconductor Manufacturing Company Limited (TSM); New buy: Amazon.com INC (AMZN); Add: Spdr S&p 500 ETF Tr — shares +2.17%; Add: State Street SPDR S&P 500 ETF Trust (SPY) — shares +11.41%
What sectors does Simplex Trading, LLC focus on?
Simplex Trading, LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 39.2% • Consumer Discretionary: 20.3% • Communication Services: 16.5% • Financials: 6.4% • Industrials: 5.9% • Health Care: 4.7%

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