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Hap Trading, LLC
HAP Trading, LLC is a New York-based hedge fund and proprietary trading firm specializing in market-making and quantitative trading strategies. Founded in the early 2000s, HAP leverages advanced technology and analytical talent from top universities. The firm uses proprietary systems and a machine learning approach to execute trades across global markets. Their team comprises experts in mathematics, engineering, and trading, maintaining a flat organizational structure that fosters innovation. HAP Trading employs fewer than 100 people and primarily serves institutional clients and counterparties through its market activity.
Investment Strategy
HAP Trading employs market-making and proprietary quantitative trading strategies, utilizing a combination of cutting-edge technology, custom applications, and machine learning to make disciplined pricing decisions across equities and derivatives markets. The firm focuses on systematic, rational, and consistent trade execution, seeking to profit from market inefficiencies while providing liquidity. They continually refine their algorithms and risk systems, recruiting top quantitative talent to optimize performance and adapt to changing market conditions.
Latest 13F Filing Activity
Hap Trading, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 107 equity positions and 613 options positions with a total 13F market value of $1B. The fund increased holdings in Vaneck Etf Trust, Ishares Inc., Amazon Com Inc. among other positions. Hap Trading, LLC reduced exposure to Nvidia Corporation, Alibaba Group HLDG LTD, SPDR S&P 500 Etf TR among others.
Top Holdings
Equity Positions (107)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SMH | VANECK ETF TRUST | 1.08% | $11.4M | 40,961 | $278.88 | $278.88 | +$11.4M |
E EWC | ISHARES INC | 1.05% | $11.1M | 239,905 | $45.37 | $46.20 | +$9.7M |
C COIN | COINBASE GLOBAL INC | 0.99% | $10.5M | 29,886 | $198.59 | $350.49 | +$1.1M |
A AMZN | AMAZON COM INC | 0.90% | $9.5M | 43,388 | $219.39 | $219.39 | +$9.5M |
T TSM | TAIWAN SEMICONDUCTOR MFG LTD | 0.85% | $8.9M | 39,505 | $166.00 | $226.49 | -$3.6M |
Options Positions (613)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
A APP | APPLOVIN CORP | Sold | Call | $192.2M | 6,389 | $350.08 | $56.29 | -55 | +$53.0M |
M META | META PLATFORMS INC | Sold | Call | $136.3M | 4,777 | $738.09 | $361.33 | -790 | +$40.5M |
C COIN | COINBASE GLOBAL INC | Bought | Call | $62.5M | 5,263 | $350.49 | $260.47 | +876 | +$43.9M |
A AVGO | BROADCOM INC | Sold | Call | $53.3M | 4,761 | $275.65 | $130.11 | -186 | +$38.1M |
N NVDA | NVIDIA CORPORATION | Bought | Call | $37.9M | 6,318 | $157.99 | $73.13 | +883 | +$22.7M |
Industry Allocation
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