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 | |
|---|---|---|---|---|---|---|
276
CALL
Arista Networks
ANET
$238B
| $468M | 0.05% |
3,571,700
-382,200
| -10% | -$52.6M |
|
277
CALL
Verizon
VZ
$205B
| $468M | 0.05% |
11,478,600
+1,439,400
| +14% | +$58.4M |
|
278
CALL
JD.com
JD
$39.7B
| $467M | 0.05% |
16,255,700
-5,880,200
| -27% | -$184M |
|
279
PUT
Lockheed Martin
LMT
$130B
| $466M | 0.05% |
962,600
+14,500
| +2% | +$6.94M |
|
280
PUT
Chevron
CVX
$403B
| $464M | 0.05% |
3,041,700
-1,045,600
| -26% | -$159M |
|
281
CALL
Amgen
AMGN
$238B
| $463M | 0.05% |
1,414,800
+264,700
| +23% | +$84M |
|
282
CALL
Wynn Resorts
WYNN
$10.3B
| $463M | 0.05% |
3,847,000
+1,111,400
| +41% | +$137M |
|
283
PUT
Astera Labs
ALAB
$49.4B
| $462M | 0.05% |
2,778,000
+408,000
| +17% | +$68.3M |
|
284
CALL
Delta Air Lines
DAL
$54.2B
| $462M | 0.05% |
6,658,800
-233,000
| -3% | -$14.6M |
|
285
CALL
CVS Health
CVS
$119B
| $462M | 0.05% |
5,818,500
-888,200
| -13% | -$70M |
|
286
CALL
Unity
U
$20.7B
| $462M | 0.05% |
10,451,000
-3,142,200
| -23% | -$128M |
|
|
CRCL
287
PUT
Circle Internet Group
CRCL
$22.3B
| $460M | 0.05% |
5,802,300
-2,231,400
| -28% | -$231M |
|
288
PUT
KLA
KLAC
$240B
| $459M | 0.05% |
3,775,000
-1,428,000
| -27% | -$167M |
|
289
CALL
Morgan Stanley
MS
$336B
| $457M | 0.05% |
2,573,400
-1,163,700
| -31% | -$194M |
|
|
290
CALL
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33.1B
| $452M | 0.05% |
4,099,500
+1,369,800
| +50% | +$152M |
|
|
291
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33.1B
| $452M | 0.05% |
4,099,100
+1,722,900
| +73% | +$192M |
|
|
NBIS
292
PUT
Nebius Group N.V.
NBIS
$59.6B
| $448M | 0.05% |
5,347,700
+1,463,100
| +38% | +$152M |
|
293
CALL
GE Aerospace
GE
$361B
| $438M | 0.05% |
1,422,700
-1,175,300
| -45% | -$354M |
|
294
CALL
MP Materials
MP
$10.7B
| $436M | 0.05% |
8,628,600
+3,261,700
| +61% | +$207M |
|
295
PUT
Accenture
ACN
$113B
| $436M | 0.05% |
1,623,600
+166,500
| +11% | +$42.3M |
|
296
PUT
Capital One
COF
$134B
| $434M | 0.05% |
1,790,900
+89,800
| +5% | +$20M |
|
297
PUT
United Airlines
UAL
$36.7B
| $426M | 0.05% |
3,809,400
-613,900
| -14% | -$62M |
|
|
298
CALL
United Airlines
UAL
$36.7B
| $425M | 0.05% |
3,801,900
+377,500
| +11% | +$38.1M |
|
299
PUT
Cameco
CCJ
$44.6B
| $425M | 0.05% |
4,642,100
+807,300
| +21% | +$72.7M |
|
300
PUT
American Express
AXP
$227B
| $420M | 0.05% |
1,134,000
-700
| -0.1% | -$250K |
|
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.