Susquehanna International Group Portfolio holdings
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.
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 | |
|---|---|---|---|---|---|---|
1601
CALL
Schwab US Dividend Equity ETF
SCHD
$107B
| $38M | ﹤0.01% |
1,386,400
-205,500
| -13% | -$5.59M |
|
1602
CALL
iShares Biotechnology ETF
IBB
$9.81B
| $38M | ﹤0.01% |
225,200
+39,100
| +21% | +$6.35M |
|
|
VSXY
1603
CALL
Victoria's Secret
VSXY
$7.48B
| $38M | ﹤0.01% |
701,600
+21,500
| +3% | +$854K |
|
1604
Fortinet
FTNT
$119B
| $37.9M | ﹤0.01% |
477,884
+244,443
| +105% | +$20.3M |
|
1605
Schwab International Small-Cap Equity ETF
SCHC
$5.65B
| $37.9M | ﹤0.01% |
+831,997
| New | +$37.7M |
|
1606
CALL
GSK
GSK
$102B
| $37.9M | ﹤0.01% |
771,900
+77,600
| +11% | +$3.62M |
|
|
CWAN
1607
CALL
DELISTED
Clearwater Analytics
CWAN
| $37.7M | ﹤0.01% |
1,564,500
+324,100
| +26% | +$6.49M |
|
1608
CALL
PennyMac Financial
PFSI
$3.98B
| $37.7M | ﹤0.01% |
285,700
-6,100
| -2% | -$777K |
|
1609
PUT
Hertz
HTZ
$873M
| $37.6M | ﹤0.01% |
7,319,000
-1,520,800
| -17% | -$8.3M |
|
1610
CALL
Invesco Solar ETF
TAN
$1.38B
| $37.6M | ﹤0.01% |
765,500
+615,700
| +411% | +$29.7M |
|
1611
PUT
Direxion Daily FTSE China Bull 3X ETF
YINN
$697M
| $37.6M | ﹤0.01% |
882,700
+62,400
| +8% | +$2.96M |
|
|
GAP
1612
CALL
The Gap Inc
GAP
$7.55B
| $37.6M | ﹤0.01% |
1,467,300
+398,500
| +37% | +$9.65M |
|
1613
Madrigal Pharmaceuticals
MDGL
$12.4B
| $37.5M | ﹤0.01% |
64,466
-40,352
| -38% | -$20.6M |
|
1614
PUT
Ralph Lauren
RL
$23.7B
| $37.4M | ﹤0.01% |
105,800
-30,400
| -22% | -$10.4M |
|
1615
Chipotle Mexican Grill
CMG
$40.5B
| $37.4M | ﹤0.01% |
1,009,657
-335,691
| -25% | -$12.1M |
|
1616
BridgeBio Pharma
BBIO
$16.4B
| $37.3M | ﹤0.01% |
487,376
+145,510
| +43% | +$9.55M |
|
1617
CALL
Tyson Foods
TSN
$19.9B
| $37.3M | ﹤0.01% |
635,700
+121,000
| +24% | +$6.65M |
|
1618
PUT
Tower Semiconductor
TSEM
$28.2B
| $37.2M | ﹤0.01% |
316,500
+238,600
| +306% | +$23M |
|
1619
CALL
Mondelez International
MDLZ
$78.9B
| $37.1M | ﹤0.01% |
688,600
-85,400
| -11% | -$4.92M |
|
1620
PUT
Universal Health Services
UHS
$9.94B
| $37M | ﹤0.01% |
169,800
+78,300
| +86% | +$17.3M |
|
|
AVDL
1621
CALL
DELISTED
Avadel Pharmaceuticals
AVDL
| $36.9M | ﹤0.01% |
1,714,600
+140,800
| +9% | +$2.73M |
|
1622
Molina Healthcare
MOH
$10.2B
| $36.8M | ﹤0.01% |
212,270
+169,163
| +392% | +$27.8M |
|
1623
CALL
Global X Silver Miners ETF NEW
SIL
$4.86B
| $36.8M | ﹤0.01% |
441,000
-997,100
| -69% | -$73.5M |
|
1624
CALL
Cinemark Holdings
CNK
$4.25B
| $36.7M | ﹤0.01% |
1,578,300
-175,400
| -10% | -$4.61M |
|
1625
PUT
Kinross Gold
KGC
$32.3B
| $36.6M | ﹤0.01% |
1,301,100
+240,600
| +23% | +$6.25M |
|
Similar funds
Susquehanna International Group's Q4 2025 Portfolio in Review
As of Q4 2025, Susquehanna International Group held 14,094 positions worth $868B, down 0.79% from $875B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Susquehanna International Group'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.
- Susquehanna International Group's largest Q4 2025 buy was iShares Core MSCI Total International Stock ETF: 1,468,872 shares worth $124M.
- Susquehanna International Group added most to Invesco QQQ Trust in Q4 2025, an estimated $1.17B increase.
- Susquehanna International Group's biggest Q4 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $2.08B.
- Susquehanna International Group fully exited Innovator US Equity Power Buffer ETF September in Q4 2025, selling an estimated $26.5M.
- Susquehanna International Group's ten largest holdings make up 24% of its $868B portfolio in Q4 2025.
- Susquehanna International Group opened 1,864 new positions and closed 1,914 in Q4 2025.
- Susquehanna International Group'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.