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 | |
|---|---|---|---|---|---|---|
2026
CALL
MSCI
MSCI
$41B
| $23.9M | ﹤0.01% |
41,700
-7,600
| -15% | -$4.26M |
|
|
VISN
2027
Vistance Networks Inc
VISN
$2.55B
| $23.9M | ﹤0.01% |
1,319,352
-1,323,934
| -50% | -$22.8M |
|
2028
NIO
NIO
$10.9B
| $23.9M | ﹤0.01% |
4,684,842
-4,867,034
| -51% | -$30M |
|
2029
CALL
Turning Point Brands
TPB
$1.77B
| $23.9M | ﹤0.01% |
220,300
+25,200
| +13% | +$2.46M |
|
2030
Parker-Hannifin
PH
$131B
| $23.8M | ﹤0.01% |
27,072
-3,143
| -10% | -$2.57M |
|
2031
CALL
Floor & Decor
FND
$5.78B
| $23.8M | ﹤0.01% |
390,600
-103,300
| -21% | -$6.7M |
|
2032
CALL
State Street SPDR S&P Bank ETF
KBE
$1.7B
| $23.8M | ﹤0.01% |
391,800
-97,000
| -20% | -$5.71M |
|
|
BLSH
2033
PUT
Bullish
BLSH
$5.02B
| $23.8M | ﹤0.01% |
627,800
-73,600
| -10% | -$3.58M |
|
2034
iShares ESG Aware MSCI EAFE ETF
ESGD
$12.3B
| $23.8M | ﹤0.01% |
+249,842
| New | +$23.6M |
|
2035
PUT
DaVita
DVA
$11.5B
| $23.7M | ﹤0.01% |
209,000
+11,000
| +6% | +$1.34M |
|
2036
CALL
Public Service Enterprise Group
PEG
$36.9B
| $23.7M | ﹤0.01% |
295,600
-67,900
| -19% | -$5.54M |
|
2037
Illumina
ILMN
$34B
| $23.7M | ﹤0.01% |
180,437
+114,527
| +174% | +$13.4M |
|
2038
PUT
Enbridge
ENB
$110B
| $23.6M | ﹤0.01% |
494,200
-159,100
| -24% | -$7.6M |
|
2039
PUT
ArcelorMittal
MT
$56.2B
| $23.6M | ﹤0.01% |
518,000
+193,200
| +59% | +$7.94M |
|
2040
PUT
Teladoc Health
TDOC
$1.15B
| $23.5M | ﹤0.01% |
3,362,400
+786,800
| +31% | +$6.16M |
|
2041
Atlassian
TEAM
$42.6B
| $23.5M | ﹤0.01% |
145,106
-168,307
| -54% | -$26.4M |
|
2042
CALL
Vanguard World Funds Extended Duration ETF
EDV
$3.55B
| $23.5M | ﹤0.01% |
361,700
+174,000
| +93% | +$11.8M |
|
2043
Inhibrx
INBX
$1.84B
| $23.5M | ﹤0.01% |
+297,116
| New | +$20.2M |
|
2044
PUT
Exelon
EXC
$45.8B
| $23.4M | ﹤0.01% |
537,600
+366,200
| +214% | +$16.7M |
|
|
PMT
2045
PUT
PennyMac Mortgage Investment
PMT
$805M
| $23.3M | ﹤0.01% |
1,857,600
+183,700
| +11% | +$2.29M |
|
2046
CALL
Direxion Daily S&P Biotech Bear 3X ETF
LABD
$59M
| $23.3M | ﹤0.01% |
1,106,100
-301,200
| -21% | -$8.17M |
|
2047
PUT
CF Industries
CF
$19B
| $23.3M | ﹤0.01% |
301,100
-95,800
| -24% | -$7.87M |
|
2048
iShares Core MSCI Europe ETF
IEUR
$9.48B
| $23.3M | ﹤0.01% |
328,058
+225,303
| +219% | +$15.6M |
|
2049
PUT
International Paper
IP
$21.9B
| $23.3M | ﹤0.01% |
590,800
-638,800
| -52% | -$26.3M |
|
2050
PUT
TG Therapeutics
TGTX
$8.42B
| $23.2M | ﹤0.01% |
778,300
-30,200
| -4% | -$986K |
|
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.