13F Filing Watch2026-Q1 SUSQUEHANNA INTERNATIONAL GROUP, LLP 13F Filing: SPY becomes top holding after +$46.52B addition
Susquehanna International Group boosted its SPY holding by +$46.52B in Q1 2026, pushing the ETF to 13.87% of the total portfolio. The firm simultaneously trimmed -$8.50B from TSLA and -$6.88B from META, funding a broad shift into index products and energy.
New Positions & Full Exits
| Ticker | Action | Value ($) | % of Portfolio |
|---|---|---|---|
| — | No new positions or full exits in the reported changes | — | — |
All significant portfolio activity this quarter consisted of scaling existing positions rather than establishing new ones or exiting entirely.
Increased & Trimmed Positions
| Ticker | Action | Value Change | Weight Change (pts) |
|---|---|---|---|
| SPY | ADD | +$46.52B | +4.96pts |
| MU | ADD | +$6.64B | +0.71pts |
| SNDK | ADD | +$5.41B | +0.61pts |
| QQQ | ADD | +$4.58B | +0.37pts |
| MSFT | ADD | +$4.31B | +0.43pts |
| USO | ADD | +$3.02B | +0.33pts |
| TSM | ADD | +$2.87B | +0.29pts |
| SMH | ADD | +$2.51B | +0.27pts |
| LITE | ADD | +$2.50B | +0.28pts |
| GLD | ADD | +$2.40B | +0.21pts |
| TSLA | TRIM | -$8.50B | -1.08pts |
| META | TRIM | -$6.88B | -0.86pts |
| AAPL | TRIM | -$4.48B | -0.57pts |
| NVDA | TRIM | -$4.21B | -0.59pts |
| GOOGL | TRIM | -$3.38B | -0.43pts |
| APP | TRIM | -$2.89B | -0.35pts |
| PLTR | TRIM | -$2.85B | -0.35pts |
| AMZN | TRIM | -$2.61B | -0.34pts |
| UNH | TRIM | -$2.30B | -0.29pts |
| LLY | TRIM | -$2.25B | -0.28pts |
| AVGO | TRIM | -$1.93B | -0.25pts |
The SPY addition alone exceeds the combined value change of every reported trim. Semiconductor and energy sectors received the most significant active inflows outside of the core ETF buildup.
Portfolio Snapshot
| Metric | This Quarter | Prior Quarter |
|---|---|---|
| Holding Count | 6848 | -- |
| Turnover Ratio | 0.306518 | -- |
| HHI Score | 0.029071 | -- |
| Momentum Tilt (pts) | 0.014557 | -- |
| Coefficient of Variation | 14.075168 | -- |
| Information Technology | 40.27% | -- |
| Consumer Discretionary | 15.09% | -- |
| Communication Services | 10.84% | -- |
| Financials | 9.42% | -- |
| Health Care | 7.12% | -- |
| Industrials | 6.91% | -- |
| Energy | 3.46% | -- |
| Consumer Staples | 3.08% | -- |
| Materials | 2.16% | -- |
| Utilities | 1.09% | -- |
| Real Estate | 0.57% | -- |
Bottom Line
Susquehanna's Q1 strategy pivoted heavily toward passive broad-market exposure. The SPY position grew by +$46.52B to a 13.87% weight. The firm funded this by trimming -$8.50B from TSLA, -$6.88B from META, and substantial amounts from NVDA, AAPL, and GOOGL. Despite the heavy trading activity driving a turnover ratio of 0.3065, the portfolio remains heavily tilted toward Information Technology at 40.27%.