Jeff Yass Susquehanna International Group
Jeff Yass is a co-founder of Susquehanna International Group (SIG), a major global trading and market-making firm. SIG is known for options expertise, quantitative trading, and a training culture grounded in probabilistic decision-making. Yass’s firm is influential across derivatives markets even though it is less of a traditional long-only stock-picking franchise.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$1.17B |
| 2 |
Netflix
NFLX
|
+$753M |
| 3 |
JPMorgan International Research Enhanced Equity ETF
JIRE
|
+$749M |
| 4 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$662M |
| 5 |
Walmart Inc
WMT
|
+$405M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$2.08B |
| 2 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$426M |
| 3 |
Meta Platforms (Facebook)
META
|
+$372M |
| 4 |
TSMC
TSM
|
+$331M |
| 5 |
Pinduoduo
PDD
|
+$319M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 1.7% |
| 2 | Consumer Discretionary | 0.84% |
| 3 | Communication Services | 0.67% |
| 4 | Financials | 0.66% |
| 5 | Healthcare | 0.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
PUT
AbbVie
ABBV
$468B
| $579M | 0.07% |
2,532,100
-529,600
| -17% | -$121M |
|
227
CALL
Warner Bros
WBD
$71.6B
| $577M | 0.07% |
20,029,400
+8,039,300
| +67% | +$188M |
|
228
CALL
iShares China Large-Cap ETF
FXI
$4.28B
| $572M | 0.07% |
14,935,400
+674,000
| +5% | +$26.7M |
|
229
PUT
Target
TGT
$75.1B
| $566M | 0.07% |
5,793,600
-2,112,700
| -27% | -$195M |
|
230
CALL
State Street Energy Select Sector SPDR ETF
XLE
$41.7B
| $564M | 0.07% |
12,621,200
-561,400
| -4% | -$25M |
|
231
CALL
Vanguard S&P 500 ETF
VOO
$1.02T
| $562M | 0.06% |
896,800
+301,700
| +51% | +$187M |
|
232
CALL
Lumentum
LITE
$77.7B
| $559M | 0.06% |
1,515,300
+604,100
| +66% | +$155M |
|
233
PUT
McDonald's
MCD
$192B
| $552M | 0.06% |
1,804,800
-93,000
| -5% | -$28.5M |
|
234
Advanced Micro Devices
AMD
$773B
| $550M | 0.06% |
2,566,245
+212,193
| +9% | +$47.7M |
|
235
PUT
Applied Materials
AMAT
$391B
| $548M | 0.06% |
2,130,600
-1,843,100
| -46% | -$442M |
|
|
236
CALL
McDonald's
MCD
$192B
| $546M | 0.06% |
1,784,900
-231,500
| -11% | -$70.9M |
|
237
PUT
State Street Materials Select Sector SPDR ETF
XLB
$8.87B
| $543M | 0.06% |
11,972,500
-1,750,700
| -13% | -$77.4M |
|
238
CALL
Constellation Energy
CEG
$96.7B
| $543M | 0.06% |
1,535,700
+240,200
| +19% | +$87.3M |
|
239
PUT
Bloom Energy
BE
$59.3B
| $542M | 0.06% |
6,232,700
+5,900
| +0.1% | +$620K |
|
|
240
Meta Platforms (Facebook)
META
$1.4T
| $540M | 0.06% |
818,084
-557,037
| -41% | -$372M |
|
241
CALL
Direxion Daily Semiconductor Bull 3X ETF
SOXL
$20.6B
| $539M | 0.06% |
12,835,900
-864,000
| -6% | -$36.1M |
|
242
CALL
Texas Instruments
TXN
$241B
| $538M | 0.06% |
3,102,000
+837,200
| +37% | +$143M |
|
243
CALL
Chipotle Mexican Grill
CMG
$46.7B
| $538M | 0.06% |
14,543,900
+1,134,800
| +8% | +$41M |
|
244
CALL
Hilton Worldwide
HLT
$73.5B
| $538M | 0.06% |
1,872,300
+632,100
| +51% | +$172M |
|
245
CALL
Dell
DELL
$286B
| $537M | 0.06% |
4,269,100
-1,189,000
| -22% | -$167M |
|
246
PUT
Merck
MRK
$376B
| $537M | 0.06% |
5,101,000
-892,900
| -15% | -$83.8M |
|
247
CALL
State Street Technology Select Sector SPDR ETF
XLK
$120B
| $536M | 0.06% |
3,724,400
-267,800
| -7% | -$38.7M |
|
|
248
PUT
Direxion Daily Semiconductor Bull 3X ETF
SOXL
$20.6B
| $536M | 0.06% |
12,753,800
+4,799,500
| +60% | +$200M |
|
|
B
249
PUT
Barrick Mining
B
$78.3B
| $534M | 0.06% |
12,260,300
+1,343,500
| +12% | +$50.4M |
|
250
CALL
Astera Labs
ALAB
$49.4B
| $533M | 0.06% |
3,205,300
+192,200
| +6% | +$32.2M |
|
Similar funds
Jeff Yass's Q4 2025 Portfolio in Review
As of Q4 2025, Jeff Yass held 14,094 positions worth $868B, down 0.79% from $875B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Jeff Yass's Q4 2025 filing shows 1,864 new, 4,890 increased, 5,380 reduced and 1,914 closed positions. Its largest new stake was iShares Core MSCI Total International Stock ETF: 1,468,872 shares worth $124M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $2.08B.
By sector, the portfolio is most concentrated in Technology at 1.7% of assets, down from 1.7% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Jeff Yass's largest Q4 2025 buy was iShares Core MSCI Total International Stock ETF: 1,468,872 shares worth $124M.
- Jeff Yass added most to Invesco QQQ Trust in Q4 2025, an estimated $1.17B increase.
- Jeff Yass's biggest Q4 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $2.08B.
- Jeff Yass fully exited Innovator US Equity Power Buffer ETF September in Q4 2025, selling an estimated $26.5M.
- Jeff Yass's ten largest holdings make up 24% of its $868B portfolio in Q4 2025.
- Jeff Yass opened 1,864 new positions and closed 1,914 in Q4 2025.
- Jeff Yass's portfolio value fell 0.79% quarter-over-quarter to $868B.
Based on Susquehanna International Group's 13F filing for Q4 2025, filed 17 Feb 2026.