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Simplex Trading, LLC
Erik Swanson · Hedge Fund · Quant/Systematic
Founded in Chicago in 2004, Simplex Trading, LLC is a leading technology-driven proprietary market-making firm and liquidity provider. The firm specializes in the electronic trading of U.S. exchange-traded securities and options, utilizing a robust suite of proprietary software and automated systems to navigate complex market environments. Simplex emphasizes a collaborative culture where talented technologists and data-driven traders work together to optimize strategies and capture opportunities through innovation and analysis. Over its history, the firm has established itself as a significant player in the derivatives market, transacting millions of contracts daily while maintaining a competitive edge through low-latency technology. Beyond its core trading operations, Simplex engages in strategic venture capital investments through Simplex Ventures, focusing on early-stage fintech and technology startups that aim to shape the future of finance and disrupt traditional industry models.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +30.3% |
| YTD return | +26.2% |
| Sharpe ratio | 2.85 |
| Win rate | 45% |
| AUM | $1.4B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $1.4B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://simplextrading.com/ |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| NVDA | NVIDIA Corporation | 24.3% | +8.3% |
| GOOGL | Alphabet Inc Class A | 12.4% | -5.4% |
| AMZN | Amazon.com Inc | 7.4% | -4.2% |
| MSFT | Microsoft Corporation | 7.1% | +10.3% |
| ORCL | Oracle Corporation | 6.5% | -14.9% |
| AAPL | Apple Inc | 6.0% | +10.0% |
| TSM | Taiwan Semiconductor Manufacturing | 4.6% | +7.1% |
| TSLA | Tesla Inc | 4.0% | +6.5% |
| MU | Micron Technology Inc | 3.8% | +5.7% |
| FCX | Freeport-McMoran Copper & Gold Inc | 3.2% | +7.1% |
| META | Meta Platforms Inc. | 2.9% | +6.9% |
| NOW | ServiceNow Inc | 2.8% | +8.7% |
| PLTR | Palantir Technologies Inc. | 2.5% | +26.5% |
| AVGO | Broadcom Inc | 2.2% | -11.3% |
| ASML | ASML Holding NV ADR | 2.0% | -0.0% |
| UNH | UnitedHealth Group Incorporated | 1.9% | -2.7% |
| KLAC | KLA-Tencor Corporation | 1.6% | -12.2% |
| COIN | Coinbase Global Inc | 1.6% | +4.8% |
| MRVL | Marvell Technology Group Ltd | 1.6% | +3.3% |
| MRNA | Moderna Inc | 1.5% | +3.5% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | SELL | MRNA | 1.7% → 1.5% |
| Sep 14, 2026 | SELL | NOW | 2.8% → 2.8% |
| Sep 14, 2026 | SELL | SOFI | 1.6% → 0.0% |
| Sep 14, 2026 | BUY | ASML | 2.1% → 2.0% |
| Sep 14, 2026 | SELL | TSLA | 4.0% → 4.0% |
Investment Style Analysis
Simplex Trading, LLC is widely recognized for employing a Quant/Systematic strategy. As of Sep 18, 2026, the firm oversees approximately $1.4B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductors and Software - Infrastructure sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, Simplex Trading, LLC made a significant move by reducing the position in MRNA. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Simplex Trading's investment philosophy centers on the integration of advanced proprietary technology with quantitative analysis to provide liquidity and capitalize on opportunities in the financial markets. As a proprietary market maker, the firm prioritizes a data-driven approach and minimal bureaucracy, aiming to execute at maximum speed and capture efficiencies in market microstructure. Their strategy involves building scalable software to identify and act on liquidity needs in real-time across various asset classes. Additionally, the firm seeks to foster long-term growth by investing in innovative fintech startups through its venture arm, aligning with their mission to transform and facilitate financial opportunities within the global economy.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Simplex Trading, LLC.
Similar Investment Style
Based on Quant/Systematic.
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Frequently asked questions
How is the simulated portfolio for Simplex Trading, LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Simplex Trading, LLC's largest holding?
As of the latest filing, Simplex Trading, LLC's top position is NVIDIA Corporation (NVDA), representing 24.3% of the portfolio. This reflects a high-conviction bet by the institution.
What is Simplex Trading, LLC's historical performance and risk profile?
Our simulation indicates a total return of +30.3% with a win rate of 45%. Notably, the portfolio maintains a Sharpe Ratio of 2.85, suggesting an excellent level of risk-adjusted returns compared to the broader market.
What sectors does Simplex Trading, LLC primarily invest in?
Simplex Trading, LLC has a strong preference for the Semiconductors sector, which makes up 36.5% of their disclosed assets. The portfolio also has exposure to Software - Infrastructure, indicating a specific thematic focus.
Is Simplex Trading, LLC's portfolio concentrated or diversified?
Simplex Trading, LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 44.1% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Simplex Trading, LLC performed in 2026?
Our AI-simulated model portfolio for Simplex Trading, LLC tracks a Year-to-Date (YTD) return of +26.2%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Erik Swanson manage Simplex Trading, LLC directly?
Yes, Erik Swanson serves as the key portfolio manager for Simplex Trading, LLC, overseeing the investment strategy and final capital allocation decisions.