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 | |
|---|---|---|---|---|---|---|
301
CALL
General Motors
GM
$77.2B
| $419M | 0.05% |
5,154,000
+1,404,400
| +37% | +$99M |
|
302
Oracle
ORCL
$422B
| $418M | 0.05% |
2,142,882
+312,463
| +17% | +$74.4M |
|
303
PUT
Bristol-Myers Squibb
BMY
$137B
| $415M | 0.05% |
7,695,700
-100,000
| -1% | -$4.81M |
|
|
SNDK
304
CALL
Sandisk
SNDK
$234B
| $414M | 0.05% |
1,744,200
+597,500
| +52% | +$120M |
|
305
CALL
Freeport-McMoran
FCX
$110B
| $414M | 0.05% |
8,145,100
+1,183,100
| +17% | +$51.3M |
|
306
PUT
Danaher
DHR
$154B
| $413M | 0.05% |
1,804,100
+801,000
| +80% | +$176M |
|
307
PUT
FedEx
FDX
$76.9B
| $412M | 0.05% |
1,427,700
-57,200
| -4% | -$15M |
|
308
PUT
Ulta Beauty
ULTA
$22.4B
| $407M | 0.05% |
672,900
+81,800
| +14% | +$45M |
|
309
PUT
iShares MSCI Brazil ETF
EWZ
$8.52B
| $406M | 0.05% |
12,791,600
-3,052,100
| -19% | -$96.5M |
|
|
NVO
310
CALL
Novo Nordisk
NVO
$207B
| $406M | 0.05% |
7,973,600
+1,153,700
| +17% | +$59M |
|
311
PUT
AutoZone
AZO
$48.3B
| $399M | 0.05% |
117,500
-67,500
| -36% | -$255M |
|
312
CALL
ProShares UltraPro Short QQQ
SQQQ
$2.07B
| $398M | 0.05% |
5,814,900
+4,746,080
| +444% | +$336M |
|
313
PUT
Amgen
AMGN
$238B
| $397M | 0.05% |
1,214,000
-146,100
| -11% | -$46.3M |
|
|
314
PUT
Freeport-McMoran
FCX
$110B
| $396M | 0.05% |
7,787,400
-5,343,200
| -41% | -$232M |
|
315
PUT
KKR & Co
KKR
$97.4B
| $395M | 0.05% |
3,100,900
+84,100
| +3% | +$10.5M |
|
316
CALL
RTX Corp
RTX
$283B
| $395M | 0.05% |
2,152,500
+244,500
| +13% | +$42.5M |
|
317
PUT
Verizon
VZ
$205B
| $395M | 0.05% |
9,685,900
-2,220,400
| -19% | -$90.1M |
|
318
PUT
Texas Instruments
TXN
$241B
| $391M | 0.05% |
2,255,100
-153,200
| -6% | -$26.2M |
|
319
CALL
Starbucks
SBUX
$122B
| $391M | 0.05% |
4,641,100
-858,200
| -16% | -$72.4M |
|
320
CALL
Seagate
STX
$193B
| $390M | 0.04% |
1,415,400
-317,700
| -18% | -$82.5M |
|
321
PUT
Coca-Cola
KO
$392B
| $388M | 0.04% |
5,546,500
+1,505,800
| +37% | +$105M |
|
|
322
iShares 20+ Year Treasury Bond ETF
TLT
$45.5B
| $382M | 0.04% |
4,388,405
-4,767,781
| -52% | -$426M |
|
323
CALL
Cameco
CCJ
$44.6B
| $382M | 0.04% |
4,176,100
+92,300
| +2% | +$8.31M |
|
324
CALL
Occidental Petroleum
OXY
$61.3B
| $381M | 0.04% |
9,274,500
+278,900
| +3% | +$11.6M |
|
325
PUT
Albemarle
ALB
$16.9B
| $381M | 0.04% |
2,693,000
-457,000
| -15% | -$51.9M |
|
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.