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 | |
|---|---|---|---|---|---|---|
51
CALL
Carvana
CVNA
$76.9B
| $3.03B | 0.35% |
35,935,000
+6,235,000
| +21% | +$464M |
|
52
CALL
Alibaba
BABA
$286B
| $2.95B | 0.34% |
20,131,900
-6,804,900
| -25% | -$1.11B |
|
53
PUT
VanEck Semiconductor ETF
SMH
$68.6B
| $2.93B | 0.34% |
8,125,000
+2,530,400
| +45% | +$888M |
|
54
CALL
Applovin
APP
$102B
| $2.85B | 0.33% |
4,223,200
-1,878,200
| -31% | -$1.18B |
|
55
CALL
Robinhood
HOOD
$97.2B
| $2.82B | 0.33% |
24,963,300
-3,748,600
| -13% | -$488M |
|
|
56
PUT
Applovin
APP
$102B
| $2.76B | 0.32% |
4,098,300
-1,234,700
| -23% | -$778M |
|
57
CALL
Boeing
BA
$169B
| $2.67B | 0.31% |
12,305,500
+3,068,500
| +33% | +$631M |
|
58
PUT
VanEck Gold Miners ETF
GDX
$31.8B
| $2.66B | 0.31% |
31,034,600
+12,532,400
| +68% | +$990M |
|
59
PUT
Costco
COST
$420B
| $2.65B | 0.31% |
3,070,200
-539,400
| -15% | -$489M |
|
|
60
CALL
Costco
COST
$420B
| $2.5B | 0.29% |
2,898,200
+6,500
| +0.2% | +$5.89M |
|
|
61
Invesco QQQ Trust
QQQ
$486B
| $2.49B | 0.29% |
4,050,151
+1,908,276
| +89% | +$1.17B |
|
62
PUT
Booking.com
BKNG
$158B
| $2.38B | 0.27% |
11,087,500
-755,000
| -6% | -$155M |
|
63
PUT
iShares Silver Trust
SLV
$33.8B
| $2.34B | 0.27% |
36,351,000
+14,690,300
| +68% | +$735M |
|
64
CALL
Coinbase
COIN
$49.2B
| $2.33B | 0.27% |
10,299,400
-1,849,700
| -15% | -$551M |
|
|
65
PUT
Alibaba
BABA
$286B
| $2.33B | 0.27% |
15,875,100
+5,649,400
| +55% | +$920M |
|
66
PUT
Strategy Inc
MSTR
$47.4B
| $2.28B | 0.26% |
14,979,000
-508,300
| -3% | -$117M |
|
67
PUT
iShares MSCI EAFE ETF
EFA
$80B
| $2.17B | 0.25% |
22,623,000
+2,886,300
| +15% | +$274M |
|
68
PUT
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46.4B
| $2.14B | 0.25% |
4,449,900
-180,400
| -4% | -$85.3M |
|
69
CALL
Intel
INTC
$476B
| $2.13B | 0.25% |
57,634,900
-5,808,400
| -9% | -$219M |
|
|
70
PUT
Boeing
BA
$169B
| $2.07B | 0.24% |
9,525,000
-711,200
| -7% | -$146M |
|
71
PUT
First Solar
FSLR
$23B
| $2.04B | 0.24% |
7,810,400
-517,000
| -6% | -$130M |
|
72
CALL
iShares Bitcoin Trust
IBIT
$57.7B
| $2.04B | 0.24% |
41,078,700
-9,443,300
| -19% | -$536M |
|
73
CALL
CrowdStrike
CRWD
$195B
| $2.02B | 0.23% |
17,278,800
-500,400
| -3% | -$63.7M |
|
|
74
CALL
First Solar
FSLR
$23B
| $2B | 0.23% |
7,666,400
-276,300
| -3% | -$69.7M |
|
75
PUT
Berkshire Hathaway Class B
BRK.B
$1.06T
| $1.85B | 0.21% |
3,671,500
-53,300
| -1% | -$26.5M |
|
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.