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 | |
|---|---|---|---|---|---|---|
401
PUT
NextEra Energy
NEE
$174B
| $300M | 0.03% |
3,743,100
+122,500
| +3% | +$10.1M |
|
402
CALL
Zscaler
ZS
$29.4B
| $300M | 0.03% |
1,335,600
+111,800
| +9% | +$31.6M |
|
403
PUT
Delta Air Lines
DAL
$54.2B
| $296M | 0.03% |
4,261,600
-330,600
| -7% | -$20.7M |
|
404
VanEck Gold Miners ETF
GDX
$31.8B
| $296M | 0.03% |
3,447,340
+1,732,025
| +101% | +$137M |
|
405
KraneShares CSI China Internet ETF
KWEB
$5.28B
| $295M | 0.03% |
8,666,674
+5,857,878
| +209% | +$225M |
|
406
CALL
Analog Devices
ADI
$182B
| $295M | 0.03% |
1,086,900
+38,700
| +4% | +$9.72M |
|
407
PUT
Baidu
BIDU
$31.6B
| $295M | 0.03% |
2,255,000
-983,000
| -30% | -$122M |
|
408
PUT
Deere & Co
DE
$175B
| $293M | 0.03% |
628,300
-79,300
| -11% | -$37.2M |
|
409
Amplify Junior Silver Miners ETF
SILJ
$4.22B
| $292M | 0.03% |
10,567,686
+6,838,246
| +183% | +$169M |
|
410
PUT
Philip Morris
PM
$293B
| $292M | 0.03% |
1,820,700
-50,900
| -3% | -$7.89M |
|
411
PUT
Roblox
RBLX
$27.4B
| $292M | 0.03% |
3,599,600
+658,900
| +22% | +$70M |
|
412
CALL
State Street Materials Select Sector SPDR ETF
XLB
$8.87B
| $292M | 0.03% |
6,430,100
-4,163,100
| -39% | -$184M |
|
413
CALL
United States Oil Fund
USO
$2.24B
| $290M | 0.03% |
4,195,500
-406,400
| -9% | -$28.7M |
|
414
PUT
ConocoPhillips
COP
$162B
| $290M | 0.03% |
3,095,400
+173,800
| +6% | +$15.7M |
|
415
CALL
ARK Innovation ETF
ARKK
$6.72B
| $289M | 0.03% |
3,751,900
-1,636,400
| -30% | -$136M |
|
|
416
CALL
ConocoPhillips
COP
$162B
| $284M | 0.03% |
3,033,500
+335,000
| +12% | +$30.3M |
|
|
AXON
417
PUT
Axon Enterprise
AXON
$51B
| $283M | 0.03% |
497,700
-75,000
| -13% | -$46.5M |
|
418
CALL
Las Vegas Sands
LVS
$30.5B
| $282M | 0.03% |
4,334,400
+1,293,500
| +43% | +$79.3M |
|
|
TLN
419
CALL
Talen Energy Corp
TLN
$15.1B
| $281M | 0.03% |
749,700
-705,700
| -48% | -$274M |
|
420
CALL
Honeywell
HON
$68.4B
| $281M | 0.03% |
1,437,800
-257,041
| -15% | -$50.3M |
|
421
CALL
TJX Companies
TJX
$155B
| $280M | 0.03% |
1,823,800
-439,100
| -19% | -$64.9M |
|
|
422
PUT
United States Oil Fund
USO
$2.24B
| $277M | 0.03% |
4,009,700
-1,690,200
| -30% | -$119M |
|
|
ETHA
423
iShares Ethereum Trust ETF
ETHA
$7.26B
| $277M | 0.03% |
12,357,794
+6,329,105
| +105% | +$166M |
|
424
PUT
Take-Two Interactive
TTWO
$44.8B
| $276M | 0.03% |
1,078,700
+585,100
| +119% | +$146M |
|
425
PUT
Datadog
DDOG
$84.6B
| $276M | 0.03% |
2,027,000
-242,200
| -11% | -$38.3M |
|
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.