Susquehanna International Group Portfolio holdings

AUM $65.4B

1-Year Return 2.14%

Susquehanna International Group (SIG), founded in 1987 by Jeff Yass and a group of friends, is a privately held global quantitative trading and technology firm headquartered in Bala Cynwyd, Pennsylvania. Specializing in trading equities, fixed income, commodities, derivatives, and ETFs, SIG has grown into a major market maker, handling around 600 equity options and 45 index options across exchanges like the CBOE, while employing over 3,000 people worldwide. The firm leverages a data-driven, probabilistic approach—rooted in the founders’ poker-playing days—to provide liquidity and competitive pricing in financial markets, with additional ventures in private equity, venture capital (notably an early investment in ByteDance, TikTok’s parent company), and sports betting analytics. Known for its innovative culture and use of game theory, SIG operates offices across North America, Europe, Asia, and Australia, maintaining a low-profile yet influential presence in global finance.

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+1.23%

1 Year Return

+2.14%

3 Year Return

+8.79%

5 Year Return

+11.99%

10 Year Return

+18.31%

AUM

$49.1B

AUM Growth

+$7.69B (+19%)

Cap. Flow

+$4.93B

Cap. Flow % of AUM

10.04%

Top 10 Holdings % Top 10 Hldgs %

28.53%

Holding

4,789

New

1,080

Increased

1,697

Reduced

1,322

Closed

400

Top Buys

1	SPDR S&P 500 ETF Trust SPY	+$2.28B
2	Weyerhaeuser WY	+$725M
3	Apple AAPL	+$656M
4	PARA Paramount Global Class B PARA	+$631M
5	iShares MSCI Emerging Markets ETF EEM	+$614M

Top Sells

1	Alphabet (Google) Class C GOOG	+$459M
2	iShares Russell 2000 ETF IWM	+$330M
3	Micron Technology MU	+$310M
4	Booking.com BKNG	+$261M
5	Bank of America BAC	+$257M

Sector Composition

1	Technology	12.02%
2	Consumer Discretionary	9.32%
3	Financials	9.11%
4	Communication Services	7.69%
5	Energy	7.33%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1101	1101 SPDR S&P Aerospace & Defense ETF XAR $4.04B	$4.33M	﹤0.01%	87,062 +68,304	+364%	+$3.4M
1102	SWY 1102 DELISTED SAFEWAY INC SWY	$4.32M	﹤0.01%	125,911 -1,175,843	-90%	-$40.4M
1103	NSR 1103 DELISTED Neustar Inc NSR	$4.32M	﹤0.01%	165,958 +143,995	+656%	+$3.75M
1104	1104 Main Street Capital MAIN $6.01B	$4.31M	﹤0.01%	+130,784	New	+$4.31M
1105	1105 Align Technology ALGN $9.85B	$4.3M	﹤0.01%	76,672 -60,849	-44%	-$3.41M
1106	WP 1106 DELISTED Worldpay, Inc. WP	$4.29M	﹤0.01%	+127,656	New	+$4.29M
1107	CMCSK 1107 DELISTED COMCAST CORP SPL A (NEW) CMCSK	$4.29M	﹤0.01%	80,360 -2,645,172	-97%	-$141M
1108	KS 1108 DELISTED KapStone Paper and Pack Corp. KS	$4.28M	﹤0.01%	129,242 +44,029	+52%	+$1.46M
1109	1109 iShares MSCI Ireland ETF EIRL $60.9M	$4.27M	﹤0.01%	119,132 +109,106	+1,088%	+$3.91M
1110	1110 Labcorp LH $22.7B	$4.26M	﹤0.01%	48,446 +10,542	+28%	+$927K
1111	IBCC 1111 DELISTED iShares iBonds Mar 2018 Term Corporate ex-Financials ETF IBCC	$4.25M	﹤0.01%	+171,092	New	+$4.25M
1112	1112 Owens Corning OC $13.2B	$4.24M	﹤0.01%	109,596 +90,139	+463%	+$3.49M
1113	1113 Air Lease Corp AL $7.11B	$4.22M	﹤0.01%	109,300 +9,400	+9%	+$363K
1114	THOR 1114 DELISTED THORATEC CORPORATION THOR	$4.21M	﹤0.01%	120,682 +105,188	+679%	+$3.67M
1115	1115 Cousins Properties CUZ $4.91B	$4.2M	﹤0.01%	119,590 +22,880	+24%	+$804K
1116	SIVB 1116 DELISTED SVB Financial Group SIVB	$4.19M	﹤0.01%	35,924 +18,154	+102%	+$2.12M
1117	1117 ProShares Ultra MSCI Japan EZJ $9.58M	$4.19M	﹤0.01%	141,111 +56,214	+66%	+$1.67M
1118	1118 iShares US Healthcare ETF IYH $2.79B	$4.18M	﹤0.01%	163,130 +154,630	+1,819%	+$3.97M
1119	LEMF 1119 DELISTED EGA EMERGING GLOBAL SHS TR EGSHARES TCW EM LONG TERM LEMF	$4.18M	﹤0.01%	+199,649	New	+$4.18M
1120	CJES 1120 DELISTED C&J ENERGY SVCS LTD CJES	$4.17M	﹤0.01%	123,587 +97,489	+374%	+$3.29M
1121	EBIX 1121 DELISTED Ebix Inc EBIX	$4.17M	﹤0.01%	291,143 -117,816	-29%	-$1.69M
1122	1122 Vanguard Dividend Appreciation ETF VIG $97.9B	$4.16M	﹤0.01%	53,420 -219,042	-80%	-$17.1M
1123	1123 OGE Energy OGE $8.85B	$4.16M	﹤0.01%	106,471 +60,999	+134%	+$2.38M
1124	1124 Ziff Davis ZD $1.5B	$4.16M	﹤0.01%	94,006 +18,106	+24%	+$801K
1125	1125 PENN Entertainment PENN $2.92B	$4.16M	﹤0.01%	342,283 -440,566	-56%	-$5.35M