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 | |
|---|---|---|---|---|---|---|
|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $36.1B | 4.16% |
52,953,100
-4,015,200
| -7% | -$2.71B |
|
|
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $34.4B | 3.96% |
50,466,800
-5,246,400
| -9% | -$3.55B |
|
3
CALL
Tesla
TSLA
$1.43T
| $21.3B | 2.45% |
47,374,500
-5,539,700
| -10% | -$2.46B |
|
|
4
PUT
Invesco QQQ Trust
QQQ
$486B
| $21B | 2.41% |
34,112,800
+4,073,200
| +14% | +$2.5B |
|
5
CALL
NVIDIA
NVDA
$5.2T
| $20.2B | 2.33% |
108,397,800
-18,702,900
| -15% | -$3.48B |
|
|
6
CALL
Invesco QQQ Trust
QQQ
$486B
| $19.4B | 2.24% |
31,646,200
+3,218,500
| +11% | +$1.97B |
|
|
7
PUT
Tesla
TSLA
$1.43T
| $15.8B | 1.82% |
35,050,200
-5,789,200
| -14% | -$2.57B |
|
|
8
CALL
Meta Platforms (Facebook)
META
$1.4T
| $15.7B | 1.81% |
23,742,300
+10,088,700
| +74% | +$6.74B |
|
|
9
PUT
NVIDIA
NVDA
$5.2T
| $14.5B | 1.67% |
77,722,200
-9,838,200
| -11% | -$1.83B |
|
10
CALL
SPDR Gold Trust
GLD
$152B
| $12.1B | 1.4% |
30,612,700
+10,781,800
| +54% | +$4.12B |
|
11
CALL
Apple
AAPL
$4.51T
| $12B | 1.38% |
44,192,800
+797,300
| +2% | +$214M |
|
12
PUT
iShares Russell 2000 ETF
IWM
$81.9B
| $8.98B | 1.03% |
36,491,500
-9,737,100
| -21% | -$2.39B |
|
13
CALL
Microsoft
MSFT
$3.59T
| $8.82B | 1.02% |
18,230,400
-2,862,800
| -14% | -$1.43B |
|
|
14
PUT
Meta Platforms (Facebook)
META
$1.4T
| $8.75B | 1.01% |
13,253,000
+3,160,200
| +31% | +$2.11B |
|
15
CALL
Amazon
AMZN
$2.79T
| $8.57B | 0.99% |
37,113,100
-1,671,800
| -4% | -$382M |
|
|
16
PUT
Apple
AAPL
$4.51T
| $7.65B | 0.88% |
28,135,400
-7,898,100
| -22% | -$2.12B |
|
17
CALL
Alphabet (Google) Class A
GOOGL
$4.22T
| $7.06B | 0.81% |
22,567,800
+729,800
| +3% | +$209M |
|
|
18
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $6.83B | 0.79% |
10,013,047
-3,074,637
| -23% | -$2.08B |
|
|
19
PUT
Alphabet (Google) Class A
GOOGL
$4.22T
| $6.33B | 0.73% |
20,231,900
+1,137,700
| +6% | +$325M |
|
20
CALL
UnitedHealth
UNH
$350B
| $6.3B | 0.73% |
19,085,400
-3,391,400
| -15% | -$1.15B |
|
|
21
PUT
Microsoft
MSFT
$3.59T
| $5.39B | 0.62% |
11,150,100
-2,126,000
| -16% | -$1.07B |
|
22
CALL
Palantir
PLTR
$432B
| $5.11B | 0.59% |
28,742,500
-1,485,600
| -5% | -$269M |
|
23
PUT
Broadcom
AVGO
$1.75T
| $4.99B | 0.57% |
14,416,300
+663,800
| +5% | +$237M |
|
|
24
PUT
TSMC
TSM
$2.17T
| $4.92B | 0.57% |
16,182,900
-43,700
| -0.3% | -$12.8M |
|
|
25
CALL
TSMC
TSM
$2.17T
| $4.77B | 0.55% |
15,680,600
-439,100
| -3% | -$129M |
|
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.