Susquehanna International Group, LLP
Reported US equity positions for Q1 2026 — $77.3B across 7,679 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| SPY State Street SPDR S&P 500 ETF Trust | $6.9B | 9.0% | 10,645,680 |
| QQQ Invesco QQQ Trust, Series 1 | $4.9B | 6.3% | 8,417,068 |
| TSLA Tesla, Inc. | $1.8B | 2.3% | 4,805,521 |
| MSFT Microsoft Corporation | $1.7B | 2.2% | 4,664,080 |
| NVDA NVIDIA Corporation | $1.5B | 2.0% | 8,849,544 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $1.3B | 1.7% | 3,890,060 |
| MU Micron Technology, Inc. | $1.2B | 1.6% | 3,626,163 |
| IWM iShares Russell 2000 Index Fund | $1.1B | 1.4% | 4,358,760 |
| AAPL Apple Inc. | $978.1M | 1.3% | 3,853,834 |
| GOOGL Alphabet Inc. | $901.6M | 1.2% | 3,135,358 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $860.6M | 1.1% | 3,180,281 |
| AMD Advanced Micro Devices, Inc. | $847.3M | 1.1% | 4,165,295 |
| GOOG Alphabet Inc. - Class C Capital Stock | $779.7M | 1.0% | 2,717,937 |
| META Meta Platforms, Inc. | $745.0M | 1.0% | 1,302,205 |
| AVGO Broadcom Inc. | $735.5M | 1.0% | 2,376,363 |
| AMZN Amazon.com, Inc. | $696.4M | 0.9% | 3,343,820 |
| ORCL Oracle Corporation | $667.3M | 0.9% | 4,536,275 |
| SNDK Sandisk Corp | $626.7M | 0.8% | 986,344 |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | $592.1M | 0.8% | 5,432,574 |
| WMT Walmart Inc. | $511.2M | 0.7% | 4,113,335 |
| VXUS Vanguard Total International Stock ETF | $488.4M | 0.6% | 6,333,368 |
| IVV iShares Core S&P 500 ETF | $483.3M | 0.6% | 739,892 |
| TLT iShares 20+ Year Treasury Bond ETF | $482.8M | 0.6% | 5,568,945 |
| SOXX iShares PHLX SOX Semiconductor Sector Index Fund | $474.6M | 0.6% | 1,443,988 |
| SLV iShares Silver Trust | $469.9M | 0.6% | 6,896,403 |
| XLP State Street Consumer Staples Select Sector SPDR ETF | $446.7M | 0.6% | 5,449,335 |
| GDX VanEck Gold Miners ETF | $435.1M | 0.6% | 4,741,430 |
| ADBE Adobe Inc. | $434.3M | 0.6% | 1,786,532 |
| NFLX Netflix, Inc. | $422.8M | 0.5% | 4,397,175 |
| NVO Novo Nordisk A/S | $408.1M | 0.5% | 11,106,111 |
| CVX Chevron Corporation | $360.3M | 0.5% | 1,741,271 |
| GLD SPDR Gold Shares | $315.4M | 0.4% | 733,078 |
| BRK.B Berkshire Hathaway Inc. | $314.5M | 0.4% | 656,210 |
| NKE Nike, Inc. | $312.7M | 0.4% | 5,919,613 |
| XOM ExxonMobil Holdings Corporation | $307.5M | 0.4% | 1,812,642 |
| JD JD.com, Inc. | $305.8M | 0.4% | 10,341,787 |
| XLE State Street Energy Select Sector SPDR ETF | $305.2M | 0.4% | 4,981,510 |
| IEMG iShares Core MSCI Emerging Markets ETF | $293.3M | 0.4% | 4,204,420 |
| INTC Intel Corporation | $291.7M | 0.4% | 6,610,614 |
| EFA iShares MSCI EAFE ETF | $278.4M | 0.4% | 2,866,734 |
| GS The Goldman Sachs Group, Inc. | $267.8M | 0.3% | 316,561 |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $267.4M | 0.3% | 2,254,053 |
| MRVL Marvell Technology, Inc. | $260.1M | 0.3% | 2,625,456 |
| MELI MercadoLibre, Inc. | $251.7M | 0.3% | 145,559 |
| SILJ Amplify Junior Silver Miners ETF | $245.8M | 0.3% | 8,269,466 |
| VOO Vanguard S&P 500 ETF | $245.1M | 0.3% | 410,127 |
| NOW ServiceNow, Inc. | $244.3M | 0.3% | 2,337,142 |
| LITE Lumentum Holdings Inc. | $243.6M | 0.3% | 346,604 |
| CSCO Cisco Systems, Inc. | $241.1M | 0.3% | 3,107,392 |
| N07059210 Asml Hldg Nv | $227.3M | 0.3% | 172,121 |
| C Citigroup, Inc. | $226.0M | 0.3% | 1,992,914 |
| PLTR Palantir Technologies Inc. | $222.5M | 0.3% | 1,521,041 |
| KRE State Street SPDR S&P Regional Banking ETF | $217.1M | 0.3% | 3,332,142 |
| JNJ Johnson & Johnson | $206.3M | 0.3% | 844,082 |
| MCHP Microchip Technology Incorporated | $205.3M | 0.3% | 3,177,031 |
| XLF State Street Financial Select Sector SPDR ETF | $204.2M | 0.3% | 4,136,378 |
| LRCX Lam Research Corporation | $196.3M | 0.3% | 918,775 |
| KO The Coca-Cola Company | $192.0M | 0.2% | 2,524,108 |
| HLT Hilton Worldwide Holdings Inc. | $186.1M | 0.2% | 611,977 |
| JPM JP Morgan Chase & Co. | $184.8M | 0.2% | 628,346 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| SPY State Street SPDR S&P 500 ETF Trust | Add | $6.9B | $6.8B | +6% |
| QQQ Invesco QQQ Trust, Series 1 | Add | $4.9B | $2.5B | +108% |
| TSLA Tesla, Inc. | Add | $1.8B | $1.7B | +25% |
| MSFT Microsoft Corporation | Add | $1.7B | $982.6M | +130% |
| NVDA NVIDIA Corporation | Add | $1.5B | $1.4B | +18% |
| MU Micron Technology, Inc. | Add | $1.2B | $337.9M | +206% |
| IWM iShares Russell 2000 Index Fund | Add | $1.1B | $959.1M | +12% |
| AAPL Apple Inc. | Add | $978.1M | $973.3M | +8% |
| GOOGL Alphabet Inc. | Trim | $901.6M | $1.4B | -27% |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | Add | $860.6M | $192.4M | +446% |
| AMD Advanced Micro Devices, Inc. | Add | $847.3M | $549.6M | +62% |
| GOOG Alphabet Inc. - Class C Capital Stock | Add | $779.7M | $666.9M | +28% |
| META Meta Platforms, Inc. | Add | $745.0M | $540.0M | +59% |
| AVGO Broadcom Inc. | Trim | $735.5M | $1.5B | -45% |
| AMZN Amazon.com, Inc. | Trim | $696.4M | $952.0M | -19% |
| ORCL Oracle Corporation | Add | $667.3M | $417.7M | +112% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | Trim | $592.1M | $716.0M | -16% |
| WMT Walmart Inc. | Trim | $511.2M | $515.8M | -11% |
| IVV iShares Core S&P 500 ETF | Add | $483.3M | $349.2M | +45% |
| TLT iShares 20+ Year Treasury Bond ETF | Add | $482.8M | $382.5M | +27% |
| XLP State Street Consumer Staples Select Sector SPDR ETF | Add | $446.7M | $177.4M | +139% |
| GDX VanEck Gold Miners ETF | Add | $435.1M | $295.7M | +38% |
| ADBE Adobe Inc. | Add | $434.3M | $261.8M | +139% |
| NFLX Netflix, Inc. | Trim | $422.8M | $1.0B | -60% |
| CVX Chevron Corporation | Add | $360.3M | $155.4M | +71% |
| GLD SPDR Gold Shares | Add | $315.4M | $142.3M | +104% |
| BRK.B Berkshire Hathaway Inc. | Add | $314.5M | $205.4M | +61% |
| NKE Nike, Inc. | Add | $312.7M | $242.5M | +56% |
| XOM ExxonMobil Holdings Corporation | Add | $307.5M | $177.7M | +23% |
| JD JD.com, Inc. | Add | $305.8M | $95.0M | +213% |
| XLE State Street Energy Select Sector SPDR ETF | Add | $305.2M | $96.4M | +131% |
| INTC Intel Corporation | Add | $291.7M | $209.9M | +16% |
| EFA iShares MSCI EAFE ETF | Add | $278.4M | $247.5M | +11% |
| GS The Goldman Sachs Group, Inc. | Trim | $267.8M | $351.6M | -21% |
| MRVL Marvell Technology, Inc. | Add | $260.1M | $206.9M | +8% |
| MELI MercadoLibre, Inc. | Add | $251.7M | $132.9M | +121% |
| SILJ Amplify Junior Silver Miners ETF | Trim | $245.8M | $292.4M | -22% |
| LITE Lumentum Holdings Inc. | Add | $243.6M | $122.9M | +4% |
| CSCO Cisco Systems, Inc. | Add | $241.1M | $144.7M | +65% |
| N07059210 Asml Hldg Nv | Add | $227.3M | $172.0M | +7% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.