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 | |
|---|---|---|---|---|---|---|
601
lululemon athletica
LULU
$13.7B
| $170M | 0.02% |
817,481
-1,586,880
| -66% | -$287M |
|
602
State Street Materials Select Sector SPDR ETF
XLB
$8.87B
| $170M | 0.02% |
3,741,664
+3,056,822
| +446% | +$135M |
|
603
PUT
ProShares UltraPro Short QQQ
SQQQ
$1.85B
| $169M | 0.02% |
2,474,000
+1,730,400
| +233% | +$122M |
|
604
CALL
Northrop Grumman
NOC
$78.3B
| $169M | 0.02% |
297,100
+6,400
| +2% | +$3.71M |
|
605
PUT
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.9B
| $169M | 0.02% |
279,400
-42,900
| -13% | -$25.7M |
|
606
CALL
State Street Health Care Select Sector SPDR ETF
XLV
$45.4B
| $168M | 0.02% |
1,086,500
-438,900
| -29% | -$65.7M |
|
607
PUT
Biogen
BIIB
$32B
| $168M | 0.02% |
953,500
+44,600
| +5% | +$7.29M |
|
608
PUT
Vanguard Information Technology ETF
VGT
$145B
| $167M | 0.02% |
1,775,200
+313,600
| +21% | +$29.8M |
|
609
PUT
Boston Scientific
BSX
$73B
| $167M | 0.02% |
1,750,200
-699,400
| -29% | -$68.6M |
|
610
IBM
IBM
$222B
| $167M | 0.02% |
563,306
+233,715
| +71% | +$70M |
|
611
PUT
Agnico Eagle Mines
AEM
$109B
| $167M | 0.02% |
983,900
-109,000
| -10% | -$18.3M |
|
612
PUT
Marriott International
MAR
$92.9B
| $166M | 0.02% |
535,500
+88,100
| +20% | +$25.2M |
|
613
CALL
Cummins
CMI
$80.9B
| $166M | 0.02% |
325,300
+45,500
| +16% | +$21.3M |
|
614
PUT
Abbott
ABT
$202B
| $166M | 0.02% |
1,323,500
-492,200
| -27% | -$62.7M |
|
615
Rocket Companies
RKT
$39.4B
| $166M | 0.02% |
8,559,394
+5,323,583
| +165% | +$95.2M |
|
616
PUT
Fair Isaac
FICO
$25.3B
| $166M | 0.02% |
97,900
-47,800
| -33% | -$82.3M |
|
617
PUT
Honeywell
HON
$68.4B
| $165M | 0.02% |
847,700
-203,645
| -19% | -$39.8M |
|
618
CALL
Elevance Health
ELV
$86.9B
| $165M | 0.02% |
471,000
-105,200
| -18% | -$35.6M |
|
|
TLN
619
PUT
Talen Energy Corp
TLN
$15.1B
| $165M | 0.02% |
438,900
-181,600
| -29% | -$70.6M |
|
620
Progressive
PGR
$127B
| $164M | 0.02% |
720,319
+561,352
| +353% | +$127M |
|
621
State Street SPDR S&P Dividend ETF
SDY
$22.1B
| $164M | 0.02% |
1,176,575
+1,148,613
| +4,108% | +$160M |
|
622
PUT
Moderna
MRNA
$57.9B
| $163M | 0.02% |
5,539,800
-1,553,700
| -22% | -$42.2M |
|
623
CALL
American Airlines Group
AAL
$9.15B
| $162M | 0.02% |
10,580,300
-1,512,100
| -13% | -$20.4M |
|
624
CALL
Rio Tinto
RIO
$171B
| $161M | 0.02% |
2,014,100
+341,800
| +20% | +$24.6M |
|
625
Wells Fargo
WFC
$254B
| $160M | 0.02% |
1,720,760
+987,977
| +135% | +$85.8M |
|
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.