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 | |
|---|---|---|---|---|---|---|
901
PUT
Direxion Daily S&P 500 Bull 3x ETF
SPXL
$6.82B
| $98.7M | 0.01% |
447,300
-103,200
| -19% | -$22.4M |
|
|
CRCL
902
Circle Internet Group
CRCL
$22.3B
| $98.3M | 0.01% |
1,239,141
-1,908,941
| -61% | -$197M |
|
903
PUT
Teradyne
TER
$57B
| $98.1M | 0.01% |
506,700
-2,872,100
| -85% | -$493M |
|
904
CALL
United States Natural Gas Fund
UNG
$511M
| $98M | 0.01% |
7,995,500
+2,634,400
| +49% | +$35.5M |
|
905
PUT
Linde
LIN
$226B
| $97.9M | 0.01% |
229,700
-213,500
| -48% | -$91.5M |
|
906
Coeur Mining
CDE
$21.5B
| $97.9M | 0.01% |
5,491,794
+1,264,030
| +30% | +$22M |
|
907
CALL
Guardant Health
GH
$21.9B
| $97.7M | 0.01% |
956,200
+143,800
| +18% | +$12.9M |
|
908
CALL
Energy Transfer Partners
ET
$72.6B
| $97M | 0.01% |
5,883,400
-3,032,900
| -34% | -$50.5M |
|
909
PUT
argenx
ARGX
$63.3B
| $97M | 0.01% |
115,300
+25,900
| +29% | +$22.2M |
|
910
State Street Energy Select Sector SPDR ETF
XLE
$41.5B
| $96.4M | 0.01% |
2,155,764
-20,276
| -0.9% | -$903K |
|
911
CALL
Sherwin-Williams
SHW
$84.2B
| $96.2M | 0.01% |
297,000
+57,600
| +24% | +$19.3M |
|
912
PUT
iShares Biotechnology ETF
IBB
$10.7B
| $96.1M | 0.01% |
569,700
+100,500
| +21% | +$16.3M |
|
913
PUT
Twilio
TWLO
$34.2B
| $95.8M | 0.01% |
673,700
-28,600
| -4% | -$3.54M |
|
914
CALL
Carpenter Technology
CRS
$23.6B
| $95.8M | 0.01% |
304,200
+219,100
| +257% | +$65.9M |
|
915
PUT
Duke Energy
DUK
$95.1B
| $95.6M | 0.01% |
816,000
-388,800
| -32% | -$47.5M |
|
|
ECHO
916
PUT
EchoStar
ECHO
$24.8B
| $95.6M | 0.01% |
879,700
-1,083,800
| -55% | -$88.3M |
|
917
Lam Research
LRCX
$388B
| $95.5M | 0.01% |
557,836
-199,652
| -26% | -$31.1M |
|
918
CALL
Novartis
NVS
$300B
| $95.4M | 0.01% |
692,100
+126,300
| +22% | +$16.5M |
|
919
CALL
Globalstar
GSAT
$10.6B
| $95.3M | 0.01% |
1,560,800
-86,100
| -5% | -$4.75M |
|
920
PUT
Applied Digital
APLD
$7.64B
| $95.1M | 0.01% |
3,878,400
-1,277,300
| -25% | -$36.8M |
|
921
JD.com
JD
$39.4B
| $95M | 0.01% |
3,308,813
+885,762
| +37% | +$27.7M |
|
922
PUT
Autodesk
ADSK
$53.7B
| $94.7M | 0.01% |
319,900
-87,900
| -22% | -$26.6M |
|
923
CALL
Pinterest
PINS
$13.3B
| $94.4M | 0.01% |
3,647,200
+918,100
| +34% | +$26.4M |
|
924
Wynn Resorts
WYNN
$10.2B
| $94.3M | 0.01% |
783,356
-263,378
| -25% | -$32.6M |
|
925
CALL
SoundHound AI
SOUN
$3.11B
| $94.2M | 0.01% |
9,443,500
-2,065,900
| -18% | -$29.7M |
|
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.