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 | |
|---|---|---|---|---|---|---|
1601
CALL
Schwab US Dividend Equity ETF
SCHD
$112B
| $38M | ﹤0.01% |
1,386,400
-205,500
| -13% | -$5.59M |
|
1602
CALL
iShares Biotechnology ETF
IBB
$10.9B
| $38M | ﹤0.01% |
225,200
+39,100
| +21% | +$6.35M |
|
|
VSXY
1603
CALL
Victoria's Secret
VSXY
$6.94B
| $38M | ﹤0.01% |
701,600
+21,500
| +3% | +$854K |
|
1604
Fortinet
FTNT
$113B
| $37.9M | ﹤0.01% |
477,884
+244,443
| +105% | +$20.3M |
|
1605
Schwab International Small-Cap Equity ETF
SCHC
$5.8B
| $37.9M | ﹤0.01% |
+831,997
| New | +$37.7M |
|
1606
CALL
GSK
GSK
$104B
| $37.9M | ﹤0.01% |
771,900
+77,600
| +11% | +$3.62M |
|
|
CWAN
1607
CALL
DELISTED
Clearwater Analytics
CWAN
| $37.7M | ﹤0.01% |
1,564,500
+324,100
| +26% | +$6.49M |
|
1608
CALL
PennyMac Financial
PFSI
$3.85B
| $37.7M | ﹤0.01% |
285,700
-6,100
| -2% | -$777K |
|
1609
PUT
Hertz
HTZ
$795M
| $37.6M | ﹤0.01% |
7,319,000
-1,520,800
| -17% | -$8.3M |
|
1610
CALL
Invesco Solar ETF
TAN
$1.27B
| $37.6M | ﹤0.01% |
765,500
+615,700
| +411% | +$29.7M |
|
1611
PUT
Direxion Daily FTSE China Bull 3X ETF
YINN
$676M
| $37.6M | ﹤0.01% |
882,700
+62,400
| +8% | +$2.96M |
|
|
GAP
1612
CALL
The Gap Inc
GAP
$7.25B
| $37.6M | ﹤0.01% |
1,467,300
+398,500
| +37% | +$9.65M |
|
1613
Madrigal Pharmaceuticals
MDGL
$11.8B
| $37.5M | ﹤0.01% |
64,466
-40,352
| -38% | -$20.6M |
|
1614
PUT
Ralph Lauren
RL
$21.6B
| $37.4M | ﹤0.01% |
105,800
-30,400
| -22% | -$10.4M |
|
1615
Chipotle Mexican Grill
CMG
$47.4B
| $37.4M | ﹤0.01% |
1,009,657
-335,691
| -25% | -$12.1M |
|
1616
BridgeBio Pharma
BBIO
$15.7B
| $37.3M | ﹤0.01% |
487,376
+145,510
| +43% | +$9.55M |
|
1617
CALL
Tyson Foods
TSN
$20.1B
| $37.3M | ﹤0.01% |
635,700
+121,000
| +24% | +$6.65M |
|
1618
PUT
Tower Semiconductor
TSEM
$24B
| $37.2M | ﹤0.01% |
316,500
+238,600
| +306% | +$23M |
|
1619
CALL
Mondelez International
MDLZ
$80.4B
| $37.1M | ﹤0.01% |
688,600
-85,400
| -11% | -$4.92M |
|
1620
PUT
Universal Health Services
UHS
$10.4B
| $37M | ﹤0.01% |
169,800
+78,300
| +86% | +$17.3M |
|
|
AVDL
1621
CALL
DELISTED
Avadel Pharmaceuticals
AVDL
| $36.9M | ﹤0.01% |
1,714,600
+140,800
| +9% | +$2.73M |
|
1622
Molina Healthcare
MOH
$10.4B
| $36.8M | ﹤0.01% |
212,270
+169,163
| +392% | +$27.8M |
|
1623
CALL
Global X Silver Miners ETF NEW
SIL
$5.57B
| $36.8M | ﹤0.01% |
441,000
-997,100
| -69% | -$73.5M |
|
1624
CALL
Cinemark Holdings
CNK
$4.34B
| $36.7M | ﹤0.01% |
1,578,300
-175,400
| -10% | -$4.61M |
|
1625
PUT
Kinross Gold
KGC
$39.7B
| $36.6M | ﹤0.01% |
1,301,100
+240,600
| +23% | +$6.25M |
|
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.