Simplify Asset Management Inc.

Simplify Asset Management's $6.52B Q1 2026 13F is an unusual beast: 71% of the book sits in the firm's own Simplify Behavioral Income ETF (SBIL), making this filing as much a product-disclosure document as a portfolio snapshot. Beneath that dominant wrapper, the manager made a notable rotation out of high-profile healthcare names — Regeneron was cut 65%, Eli Lilly 40%, and Amgen 70% — while adding to fixed-income through AGG (+46% shares) and launching fresh positions in Novo Nordisk, Thermo Fisher, 3M, and AbbVie. The single most interesting line-item is the $23M reduction in IBIT, the iShares Bitcoin Trust, which the manager trimmed as Bitcoin prices consolidated after the post-election rally. The whaleScore of 75 reflects the absolute size of the SBIL wrapper and the healthcare sleeve, not a diversified stock-picking book.