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 | |
|---|---|---|---|---|---|---|
151
CALL
Intuit
INTU
$100B
| $887M | 0.1% |
1,338,500
+402,800
| +43% | +$266M |
|
152
CALL
ProShares UltraPro QQQ
TQQQ
$35.7B
| $887M | 0.1% |
16,816,000
-7,072,200
| -30% | -$380M |
|
153
CALL
Marvell Technology
MRVL
$213B
| $881M | 0.1% |
10,372,300
-3,037,100
| -23% | -$266M |
|
154
CALL
Lam Research
LRCX
$393B
| $877M | 0.1% |
5,122,300
+359,600
| +8% | +$55.9M |
|
155
PUT
Snowflake
SNOW
$115B
| $872M | 0.1% |
3,976,800
+1,156,800
| +41% | +$282M |
|
|
156
PUT
Pinduoduo
PDD
$126B
| $871M | 0.1% |
7,685,600
-2,495,900
| -25% | -$310M |
|
157
CALL
PayPal
PYPL
$52.7B
| $863M | 0.1% |
14,786,000
+3,548,300
| +32% | +$230M |
|
|
158
CALL
Pinduoduo
PDD
$126B
| $850M | 0.1% |
7,496,700
-10,060,800
| -57% | -$1.25B |
|
159
CALL
AbbVie
ABBV
$468B
| $835M | 0.1% |
3,654,400
-1,306,200
| -26% | -$298M |
|
160
PUT
Intuitive Surgical
ISRG
$134B
| $834M | 0.1% |
1,471,700
+296,700
| +25% | +$158M |
|
161
PUT
Mastercard
MA
$509B
| $830M | 0.1% |
1,454,700
+73,800
| +5% | +$41.3M |
|
162
CALL
Johnson & Johnson
JNJ
$651B
| $830M | 0.1% |
4,010,800
-523,100
| -12% | -$103M |
|
163
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| $822M | 0.09% |
6,745,300
+1,132,700
| +20% | +$130M |
|
|
164
CALL
Mastercard
MA
$509B
| $819M | 0.09% |
1,433,900
-24,100
| -2% | -$13.5M |
|
165
CALL
MongoDB
MDB
$34.7B
| $816M | 0.09% |
1,945,000
-215,000
| -10% | -$78.2M |
|
166
CALL
Applied Materials
AMAT
$391B
| $813M | 0.09% |
3,165,300
-1,022,000
| -24% | -$245M |
|
167
CALL
Vertiv
VRT
$101B
| $807M | 0.09% |
4,981,800
+881,200
| +21% | +$153M |
|
|
168
PUT
Marvell Technology
MRVL
$213B
| $802M | 0.09% |
9,432,700
-3,535,200
| -27% | -$309M |
|
169
CALL
KraneShares CSI China Internet ETF
KWEB
$5.28B
| $795M | 0.09% |
23,353,400
+2,328,000
| +11% | +$89.5M |
|
170
PUT
Cisco
CSCO
$438B
| $792M | 0.09% |
10,279,900
+2,400,100
| +30% | +$178M |
|
|
NBIS
171
CALL
Nebius Group N.V.
NBIS
$59.6B
| $786M | 0.09% |
9,387,500
+1,865,800
| +25% | +$193M |
|
|
CRWV
172
PUT
CoreWeave
CRWV
$48.5B
| $776M | 0.09% |
10,835,700
+2,224,400
| +26% | +$226M |
|
|
173
PUT
Intuit
INTU
$100B
| $766M | 0.09% |
1,156,300
+299,300
| +35% | +$198M |
|
174
PUT
Pfizer
PFE
$160B
| $765M | 0.09% |
30,706,700
-1,676,700
| -5% | -$42.3M |
|
175
CALL
Home Depot
HD
$335B
| $761M | 0.09% |
2,211,000
-177,400
| -7% | -$65M |
|
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.