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 | |
|---|---|---|---|---|---|---|
126
PUT
IBM
IBM
$222B
| $1.01B | 0.12% |
3,414,600
+826,000
| +32% | +$247M |
|
127
CALL
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| $1.01B | 0.12% |
8,263,600
+5,168,600
| +167% | +$593M |
|
128
CALL
Uber
UBER
$161B
| $1B | 0.12% |
12,277,000
-1,962,700
| -14% | -$177M |
|
129
PUT
Nike
NKE
$60.5B
| $1B | 0.12% |
15,701,900
+963,900
| +7% | +$62.8M |
|
130
CALL
SoFi Technologies
SOFI
$24.4B
| $985M | 0.11% |
37,638,400
+11,375,600
| +43% | +$317M |
|
131
Microsoft
MSFT
$3.59T
| $983M | 0.11% |
2,031,786
-591,640
| -23% | -$296M |
|
132
PUT
Caterpillar
CAT
$381B
| $982M | 0.11% |
1,713,400
+7,500
| +0.4% | +$4.17M |
|
|
133
CALL
Caterpillar
CAT
$381B
| $977M | 0.11% |
1,704,800
-30,000
| -2% | -$16.7M |
|
134
CALL
Palo Alto Networks
PANW
$292B
| $977M | 0.11% |
5,302,000
-1,075,500
| -17% | -$217M |
|
135
Apple
AAPL
$4.51T
| $973M | 0.11% |
3,580,033
-883,054
| -20% | -$237M |
|
136
CALL
AST SpaceMobile
ASTS
$20.6B
| $970M | 0.11% |
13,355,800
+3,499,300
| +36% | +$250M |
|
137
CALL
Qualcomm
QCOM
$169B
| $964M | 0.11% |
5,637,700
+1,036,500
| +23% | +$178M |
|
138
PUT
ServiceNow
NOW
$133B
| $964M | 0.11% |
6,292,900
+1,052,900
| +20% | +$181M |
|
139
iShares Russell 2000 ETF
IWM
$81.9B
| $959M | 0.11% |
3,896,398
+25,742
| +0.7% | +$6.33M |
|
140
PUT
iShares Bitcoin Trust
IBIT
$57.7B
| $959M | 0.11% |
19,314,100
-5,454,000
| -22% | -$310M |
|
141
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $958M | 0.11% |
11,877,500
+7,102,200
| +149% | +$572M |
|
|
142
PUT
Palo Alto Networks
PANW
$292B
| $956M | 0.11% |
5,192,100
-395,200
| -7% | -$79.7M |
|
143
CALL
Merck
MRK
$376B
| $953M | 0.11% |
9,049,200
+2,850,700
| +46% | +$268M |
|
144
Amazon
AMZN
$2.79T
| $952M | 0.11% |
4,124,569
+293,634
| +8% | +$67.2M |
|
145
PUT
Spotify
SPOT
$110B
| $936M | 0.11% |
1,611,200
-330,100
| -17% | -$206M |
|
146
PUT
Johnson & Johnson
JNJ
$651B
| $934M | 0.11% |
4,512,000
+240,700
| +6% | +$47.6M |
|
|
147
CALL
Spotify
SPOT
$110B
| $901M | 0.1% |
1,552,100
-143,600
| -8% | -$89.8M |
|
148
PUT
Home Depot
HD
$335B
| $898M | 0.1% |
2,610,300
+83,800
| +3% | +$30.7M |
|
|
149
PUT
Uber
UBER
$161B
| $897M | 0.1% |
10,978,000
+997,900
| +10% | +$89.9M |
|
150
PUT
Arm
ARM
$260B
| $888M | 0.1% |
8,119,300
+1,264,500
| +18% | +$184M |
|
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.