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

+0.48%

1 Year Return

+2.14%

3 Year Return

+8.79%

5 Year Return

+11.99%

10 Year Return

+18.31%

AUM

$46B

AUM Growth

-$2.2B (-4.6%)

Cap. Flow

-$4.14B

Cap. Flow % of AUM

-9%

Top 10 Holdings % Top 10 Hldgs %

29.07%

Holding

4,939

New

939

Increased

1,912

Reduced

1,437

Closed

392

Top Buys

1	SPDR S&P 500 ETF Trust SPY	+$1.25B
2	Alibaba BABA	+$413M
3	Energy Select Sector SPDR Fund XLE	+$278M
4	Ford F	+$226M
5	Gilead Sciences GILD	+$199M

Top Sells

1	iShares MSCI Emerging Markets ETF EEM	+$1.33B
2	iShares Russell 2000 ETF IWM	+$1.24B
3	YHOO Yahoo Inc YHOO	+$664M
4	Bank of America BAC	+$509M
5	Booking.com BKNG	+$410M

Sector Composition

1	Technology	13.7%
2	Consumer Discretionary	10.91%
3	Financials	8.75%
4	Healthcare	7.37%
5	Energy	6.48%

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	OSIR 1251 DELISTED Osiris Therapeutics, Inc. Common Stock OSIR	$3.66M	﹤0.01%	228,555 +200,491	+714%	+$3.21M
1252	1252 Armstrong World Industries AWI $8.5B	$3.65M	﹤0.01%	71,461 +56,316	+372%	+$2.88M
1253	1253 SPDR S&P Global Infrastructure ETF GII $604M	$3.64M	﹤0.01%	75,052 +26,213	+54%	+$1.27M
1254	PMT 1254 PennyMac Mortgage Investment PMT $1.07B	$3.64M	﹤0.01%	172,642 -48,940	-22%	-$1.03M
1255	STJ 1255 DELISTED St Jude Medical STJ	$3.64M	﹤0.01%	55,930 -53,014	-49%	-$3.45M
1256	CVRR 1256 DELISTED CVR Refining, LP CVRR	$3.63M	﹤0.01%	215,917 +63,351	+42%	+$1.06M
1257	ORIG 1257 DELISTED Ocean Rig UDW Inc. Class A Common Shares ORIG	$3.62M	﹤0.01%	+42	New	+$3.62M
1258	1258 Nuveen S&P 500 Dynamic Overwrite Fund SPXX $329M	$3.62M	﹤0.01%	+253,290	New	+$3.62M
1259	1259 ProShares Ultra Technology ROM $815M	$3.62M	﹤0.01%	760,512 +674,592	+785%	+$3.21M
1260	1260 Herbalife HLF $986M	$3.62M	﹤0.01%	191,872 +146,472	+323%	+$2.76M
1261	1261 Moog MOG.A $6.27B	$3.61M	﹤0.01%	48,786 +3,715	+8%	+$275K
1262	STMP 1262 DELISTED Stamps.com, Inc. STMP	$3.61M	﹤0.01%	75,212 +17,243	+30%	+$828K
1263	HZNP 1263 DELISTED Horizon Therapeutics Public Limited Company Ordinary Shares HZNP	$3.61M	﹤0.01%	280,070 +58,801	+27%	+$758K
1264	GAF 1264 DELISTED SPDR S&P Emerging Middle East & Africa ETF GAF	$3.61M	﹤0.01%	53,815 -47,865	-47%	-$3.21M
1265	1265 SPDR S&P Health Care Services ETF XHS $76.1M	$3.61M	﹤0.01%	64,298 -14,934	-19%	-$837K
1266	FRAN 1266 DELISTED Francesca's Holdings Corporation FRAN	$3.6M	﹤0.01%	17,981 +124	+0.7%	+$24.8K
1267	1267 Veeco VECO $1.52B	$3.59M	﹤0.01%	103,035 -51,833	-33%	-$1.81M
1268	1268 Xcel Energy XEL $43.4B	$3.59M	﹤0.01%	100,008 +19,779	+25%	+$710K
1269	1269 Buckle BKE $3.04B	$3.59M	﹤0.01%	68,359 +48,784	+249%	+$2.56M
1270	1270 Dentsply Sirona XRAY $2.7B	$3.59M	﹤0.01%	67,318 +1,819	+3%	+$96.9K
1271	DISCK 1271 DELISTED Discovery, Inc. Series C Common Stock DISCK	$3.58M	﹤0.01%	106,182 +74,770	+238%	+$2.52M
1272	1272 SPDR Portfolio Europe ETF SPEU $699M	$3.58M	﹤0.01%	104,601 +83,465	+395%	+$2.86M
1273	IRY 1273 DELISTED SPDR S&P International Health Care Sector IRY	$3.58M	﹤0.01%	+76,363	New	+$3.58M
1274	1274 Patterson-UTI PTEN $2.13B	$3.57M	﹤0.01%	215,336 +106,211	+97%	+$1.76M
1275	1275 Gildan GIL $8.03B	$3.56M	﹤0.01%	126,000 +5,612	+5%	+$159K