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 | |
|---|---|---|---|---|---|---|
451
CALL
S&P Global
SPGI
$127B
| $258M | 0.03% |
493,400
+31,900
| +7% | +$15.8M |
|
452
PUT
Constellation Brands
STZ
$23.2B
| $254M | 0.03% |
1,838,400
-748,400
| -29% | -$103M |
|
453
CALL
Hims & Hers Health
HIMS
$7.88B
| $251M | 0.03% |
7,740,700
-691,800
| -8% | -$29.6M |
|
454
CALL
T-Mobile US
TMUS
$196B
| $250M | 0.03% |
1,233,300
+61,800
| +5% | +$13.1M |
|
455
PUT
Progressive
PGR
$127B
| $250M | 0.03% |
1,099,000
+466,500
| +74% | +$105M |
|
456
CALL
Comcast
CMCSA
$95.3B
| $250M | 0.03% |
8,372,300
+2,389,100
| +40% | +$68.2M |
|
457
PUT
Humana
HUM
$45.5B
| $249M | 0.03% |
971,500
-304,200
| -24% | -$79.7M |
|
458
iShares MSCI EAFE ETF
EFA
$80B
| $248M | 0.03% |
2,577,596
+1,448,721
| +128% | +$137M |
|
459
PUT
Dollar Tree
DLTR
$25.3B
| $246M | 0.03% |
1,997,100
-634,000
| -24% | -$67.9M |
|
460
CALL
ProShares Ultra Silver
AGQ
$1.63B
| $245M | 0.03% |
1,581,600
+1,260,300
| +392% | +$130M |
|
461
CALL
Trade Desk
TTD
$6.19B
| $245M | 0.03% |
6,450,400
-389,000
| -6% | -$17.2M |
|
|
EA
462
CALL
DELISTED
Electronic Arts
EA
| $245M | 0.03% |
1,197,600
-355,500
| -23% | -$71.8M |
|
463
PUT
State Street SPDR S&P Retail ETF
XRT
$491M
| $245M | 0.03% |
2,869,100
-1,101,700
| -28% | -$92.5M |
|
|
464
PUT
Hims & Hers Health
HIMS
$7.88B
| $244M | 0.03% |
7,527,500
+256,500
| +4% | +$11M |
|
|
HUT
465
CALL
Hut 8
HUT
$9.97B
| $243M | 0.03% |
5,294,100
+868,400
| +20% | +$38.3M |
|
466
CALL
Zoom
ZM
$31.5B
| $243M | 0.03% |
2,812,900
+80,500
| +3% | +$6.78M |
|
467
Nike
NKE
$60.5B
| $242M | 0.03% |
3,806,178
+1,094,081
| +40% | +$71.3M |
|
|
AXON
468
CALL
Axon Enterprise
AXON
$51B
| $242M | 0.03% |
426,900
+15,600
| +4% | +$9.68M |
|
469
PUT
Northrop Grumman
NOC
$78.3B
| $239M | 0.03% |
419,400
+50,300
| +14% | +$29.2M |
|
470
PUT
McKesson
MCK
$100B
| $239M | 0.03% |
291,400
-45,300
| -13% | -$37M |
|
471
CALL
Celsius Holdings
CELH
$8.44B
| $238M | 0.03% |
5,197,400
+280,400
| +6% | +$14.1M |
|
472
PUT
Insmed
INSM
$27.5B
| $236M | 0.03% |
1,354,600
+375,800
| +38% | +$68.6M |
|
473
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $235M | 0.03% |
4,287,688
+255,044
| +6% | +$13.6M |
|
474
CALL
Sea Limited
SE
$72B
| $233M | 0.03% |
1,824,500
-597,400
| -25% | -$88.5M |
|
475
CALL
Cipher Digital
CIFR
$6.55B
| $233M | 0.03% |
15,759,000
+3,948,900
| +33% | +$69.7M |
|
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.