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

+1.79%

1 Year Return

+2.14%

3 Year Return

+8.79%

5 Year Return

+11.99%

10 Year Return

+18.31%

AUM

$42B

AUM Growth

+$4.39B (+12%)

Cap. Flow

+$201M

Cap. Flow % of AUM

0.48%

Top 10 Holdings % Top 10 Hldgs %

26.76%

Holding

4,592

New

933

Increased

1,608

Reduced

1,250

Closed

463

Top Buys

1	iShares Russell 2000 ETF IWM	+$606M
2	iShares 20+ Year Treasury Bond ETF TLT	+$249M
3	iShares Russell 2000 Growth ETF IWO	+$209M
4	Cheniere Energy LNG	+$159M
5	Mastercard MA	+$158M

Top Sells

1	Apple AAPL	+$943M
2	iShares MSCI Emerging Markets ETF EEM	+$331M
3	HIG.WS Hartford Financial Services Grp HIG.WS	+$329M
4	Vanguard FTSE Emerging Markets ETF VWO	+$230M
5	SPDR S&P 500 ETF Trust SPY	+$199M

Sector Composition

1	Technology	18.39%
2	Financials	9.12%
3	Consumer Discretionary	7.93%
4	Energy	7.39%
5	Healthcare	6%

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
1251	UFS 1251 DELISTED DOMTAR CORPORATION (New) UFS	$3.26M	﹤0.01%	69,006 +5,348	+8%	+$252K
1252	AH 1252 DELISTED ACCRETIVE HEALTH, INC COMMON STOCK AH	$3.25M	﹤0.01%	355,275 +273,615	+335%	+$2.51M
1253	SCIN 1253 DELISTED Columbia India Small Cap ETF SCIN	$3.23M	﹤0.01%	277,422 +192,424	+226%	+$2.24M
1254	GTAT 1254 DELISTED GT ADVANCED TECHNOLOGIES INC COM STK (DE) GTAT	$3.23M	﹤0.01%	370,485 +315,124	+569%	+$2.75M
1255	SONC 1255 DELISTED Sonic Corp SONC	$3.23M	﹤0.01%	+159,867	New	+$3.23M
1256	1256 iShares US Pharmaceuticals ETF IHE $576M	$3.23M	﹤0.01%	81,933 +46,932	+134%	+$1.85M
1257	1257 Donaldson DCI $9.52B	$3.21M	﹤0.01%	73,954 -49,939	-40%	-$2.17M
1258	RDEN 1258 DELISTED ELIZABETH ARDEN INC RDEN	$3.21M	﹤0.01%	+90,644	New	+$3.21M
1259	1259 Euronet Worldwide EEFT $3.54B	$3.21M	﹤0.01%	67,030 +35,830	+115%	+$1.71M
1260	MW 1260 DELISTED THE MENS WAREHOUSE INC MW	$3.21M	﹤0.01%	62,799 +32,467	+107%	+$1.66M
1261	ALD 1261 DELISTED WisdomTree Asia Local Debt Fund ALD	$3.21M	﹤0.01%	67,068 +13,715	+26%	+$656K
1262	1262 MasTec MTZ $15.7B	$3.2M	﹤0.01%	97,903 +26,951	+38%	+$882K
1263	1263 RenaissanceRe RNR $11.4B	$3.2M	﹤0.01%	+32,909	New	+$3.2M
1264	OUBS 1264 DELISTED USB AG (NEW) OUBS	$3.2M	﹤0.01%	+166,071	New	+$3.2M
1265	1265 Invesco S&P International Developed Low Volatility ETF IDLV $332M	$3.19M	﹤0.01%	101,165 -33,592	-25%	-$1.06M
1266	1266 HSBC HSBC $240B	$3.18M	﹤0.01%	66,989 +59,636	+811%	+$2.83M
1267	NTI 1267 DELISTED NORTHERN TIER ENERGY LP CLASS A NTI	$3.18M	﹤0.01%	129,094 -447,652	-78%	-$11M
1268	1268 Pricesmart PSMT $3.61B	$3.17M	﹤0.01%	27,460 +24,475	+820%	+$2.83M
1269	UKF 1269 DELISTED PROSHARES ULTRA RUSSELL 1000 GROWTH UKF	$3.17M	﹤0.01%	28,800 +8,880	+45%	+$977K
1270	1270 Wendy's WEN $1.81B	$3.16M	﹤0.01%	362,619 +259,872	+253%	+$2.27M
1271	ELNK 1271 DELISTED EarthLink Holdings Corp. ELNK	$3.15M	﹤0.01%	622,084 +609,553	+4,864%	+$3.09M
1272	BSCL 1272 DELISTED Invesco BulletShares 2021 Corporate Bond ETF BSCL	$3.15M	﹤0.01%	157,250 -29,045	-16%	-$581K
1273	IIF 1273 Morgan Stanley India Investment Fund IIF $258M	$3.15M	﹤0.01%	+179,977	New	+$3.15M
1274	1274 Electronic Arts EA $43.3B	$3.15M	﹤0.01%	137,073 -268,028	-66%	-$6.15M
1275	1275 iShares US Consumer Discretionary ETF IYC $1.78B	$3.14M	﹤0.01%	103,192 -176,484	-63%	-$5.37M