Susquehanna Portfolio Strategies, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Susquehanna Portfolio Strategies, LLC reported 988 stock positions worth $6.5 billion. Its top holding was Merck (MRK) at 1.3% of the portfolio, followed by Micron Technology (MU, 1.2%) and Apple (AAPL, 1.1%). Compared with Q3 2025, it opened 128 new positions, sold out of 165, added to 192 and reduced 291. The biggest buy was Philip Morris International (PM, shares +4067%) and the biggest sale an exit from Visa Class A (V).
- Most Recent 13F
- Q2 2026
- Location
- Bala Cynwyd, PA
- CIK
- 0001996449
- Portfolio Value
- $6.5B (Q4 2025)
- SEC Filing
- 0001996449-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 988 stocks · $6.5B
| MRK Merck & Co. Inc. | 1.29% | 791,735 | $83.3M | No change |
| MU Micron Technology Inc. | 1.20% | 273,177 | $78.0M | No change |
| AAPL Apple Inc. | 1.12% | 266,713 | $72.5M | No change |
| GM General Motors Co. | 1.00% | 797,054 | $64.8M | Add +0.1% |
| ORCL Oracle Corp. | 0.97% | 323,651 | $63.1M | No change |
| PM Philip Morris International | 0.97% | 390,533 | $62.6M | Add +4066.6% |
| PFE Pfizer Inc. | 0.95% | 2,475,761 | $61.6M | No change |
| BLK BlackRock Inc. | 0.95% | 57,457 | $61.5M | No change |
| AMZN Amazon.com Inc. | 0.94% | 263,293 | $60.8M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.94% | 394,927 | $60.7M | Add +24.8% |
| COST Costco Wholesale Corp. | 0.93% | 70,130 | $60.5M | New |
| MCD McDonald's Corp. | 0.90% | 191,402 | $58.5M | Add +450.2% |
| ANET Arista Networks Inc. | 0.89% | 442,266 | $58.0M | No change |
| AXP American Express Co. | 0.87% | 152,949 | $56.6M | No change |
| SPG Simon Property Group Inc. | 0.85% | 296,689 | $54.9M | No change |
| SBUX Starbucks Corp. | 0.85% | 651,794 | $54.9M | Add +214.6% |
| CMI Cummins Inc. | 0.81% | 102,815 | $52.5M | No change |
| BKR Baker Hughes Co. | 0.80% | 1,141,980 | $52.0M | No change |
| INTC Intel Corp. | 0.79% | 1,392,214 | $51.4M | No change |
| HLT Hilton Worldwide Holdings Inc. | 0.78% | 176,275 | $50.6M | Reduce -0.1% |
| WMB Williams Cos Inc. | 0.75% | 808,812 | $48.6M | Add +402.1% |
| GS Goldman Sachs Group Inc. | 0.75% | 54,985 | $48.3M | No change |
| KR Kroger Co. | 0.71% | 739,712 | $46.2M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.69% | 390,311 | $44.4M | New |
| CBRE CBRE Group Inc. Class A | 0.67% | 269,086 | $43.3M | No change |
| GOOGL Alphabet Inc. Class A | 0.67% | 138,156 | $43.2M | No change |
| ISRG Intuitive Surgical Inc. | 0.66% | 75,860 | $43.0M | New |
| DAL Delta Air Lines Inc. | 0.63% | 589,953 | $40.9M | No change |
| O Realty Income Corp. | 0.63% | 718,822 | $40.5M | Reduce -16.8% |
| PLD Prologis Inc. | 0.62% | 313,172 | $40.0M | Add +36.7% |
| HUM Humana Inc. | 0.59% | 150,399 | $38.5M | Reduce -7.5% |
| JPM JPMorgan Chase & Co. | 0.59% | 118,349 | $38.1M | No change |
| SYK Stryker Corp. | 0.58% | 106,667 | $37.5M | Add +19.9% |
| TER Teradyne Inc. | 0.57% | 189,398 | $36.7M | No change |
| INSM Insmed Inc. | 0.56% | 207,527 | $36.1M | No change |
| LITE Lumentum Holdings Inc. | 0.55% | 97,378 | $35.9M | No change |
| EQIX Equinix Inc. | 0.55% | 46,494 | $35.6M | Add +57.1% |
| DXCM Dexcom Inc. | 0.54% | 527,492 | $35.0M | New |
| RY Royal Bank of Canada | 0.54% | 205,100 | $35.0M | No change |
| CNC Centene Corp. | 0.54% | 849,468 | $35.0M | No change |
| CVS CVS Health Corp. | 0.53% | 436,093 | $34.6M | No change |
| HBAN Huntington Bancshares Inc. | 0.52% | 1,941,097 | $33.7M | Add +11.3% |
| EXE Expand Energy Corp. | 0.51% | 299,020 | $33.0M | New |
| DVN Devon Energy Corp. | 0.50% | 892,858 | $32.7M | Add +0.2% |
| QCOM Qualcomm Inc. | 0.50% | 191,030 | $32.7M | Reduce -19.8% |
| VTR Ventas Inc. | 0.50% | 418,559 | $32.4M | Add +25.9% |
| LLY Eli Lilly & Co. | 0.49% | 29,564 | $31.8M | No change |
| URI United Rentals Inc. | 0.49% | 38,851 | $31.4M | Reduce -11.1% |
| SU Suncor Energy Inc. | 0.49% | 708,400 | $31.4M | Reduce -22.9% |
| TRGP Targa Resources Corp. | 0.48% | 168,558 | $31.1M | Add +95.6% |
| C Citigroup Inc. | 0.48% | 263,975 | $30.8M | No change |
| META Meta Platforms Inc. Class A | 0.46% | 45,479 | $30.0M | Reduce -1.1% |
| CTRA Coterra Energy Inc. | 0.46% | 1,133,179 | $29.8M | New |
| FLUT Flutter Entertainment PLC-Di | 0.46% | 138,027 | $29.7M | Add +2387.4% |
| WST West Pharmaceutical Services | 0.45% | 106,451 | $29.3M | Add +26.9% |
| EXAS Exact Sciences Corp. | 0.43% | 277,108 | $28.1M | No change |
| EA Electronic Arts Inc. | 0.43% | 137,555 | $28.1M | No change |
| VMC Vulcan Materials Co. | 0.43% | 98,122 | $28.0M | Reduce -38.7% |
| PHM Pultegroup Inc. | 0.43% | 235,385 | $27.6M | Reduce -8.5% |
| XEL Xcel Energy Inc. | 0.42% | 366,300 | $27.1M | No change |
| MLM Martin Marietta Materials | 0.41% | 42,983 | $26.8M | Reduce -8.6% |
| RGLD Royal Gold Inc. | 0.41% | 119,837 | $26.6M | Add +185.7% |
| NBIX Neurocrine Biosciences Inc. | 0.40% | 184,035 | $26.1M | No change |
| AER Aercap Holdings NV | 0.39% | 177,059 | $25.5M | No change |
| NTAP Netapp Inc. | 0.39% | 236,731 | $25.4M | No change |
| RDDT Reddit Inc. Class A | 0.39% | 109,311 | $25.1M | No change |
| ETN Eaton Corp. PLC | 0.39% | 78,304 | $24.9M | Reduce -18.4% |
| HST Host Hotels & Resorts Inc. | 0.37% | 1,360,470 | $24.1M | No change |
| FTI Technipfmc PLC | 0.37% | 533,291 | $23.8M | Add +1.8% |
| DECK Deckers Outdoor Corp. | 0.36% | 225,854 | $23.4M | Add +26.1% |
| TSLA Tesla Inc. | 0.35% | 50,270 | $22.6M | No change |
| CI The Cigna Group | 0.34% | 81,188 | $22.3M | New |
| PR Permian Resources Corp. Class A | 0.34% | 1,560,414 | $21.9M | Add +35.0% |
| HAS Hasbro Inc. | 0.34% | 264,792 | $21.7M | Add +5.3% |
| COO The Cooper Cos Inc. | 0.33% | 263,274 | $21.6M | Reduce -22.0% |
| WDC Western Digital Corp. | 0.33% | 124,661 | $21.5M | No change |
| RIVN Rivian Automotive Inc. Class A | 0.33% | 1,086,281 | $21.4M | No change |
| AZO AutoZone Inc. | 0.33% | 6,284 | $21.3M | Add +2656.1% |
| EVRG Evergy Inc. | 0.33% | 292,952 | $21.2M | No change |
| LDOS Leidos Holdings Inc. | 0.33% | 116,957 | $21.1M | No change |
| TXRH Texas Roadhouse Inc. | 0.32% | 125,837 | $20.9M | New |
| HSY The Hershey Co. | 0.32% | 113,529 | $20.7M | Add +9.4% |
| PEN Penumbra Inc. | 0.32% | 66,403 | $20.6M | Add +362.6% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.32% | 543,231 | $20.6M | Add +263.0% |
| FANG Diamondback Energy Inc. | 0.31% | 134,352 | $20.2M | Reduce -7.0% |
| ALLE Allegion PLC | 0.31% | 126,356 | $20.1M | Reduce -13.4% |
| CSX CSX Corp. | 0.31% | 554,661 | $20.1M | Reduce -8.3% |
| CART Maplebear Inc. | 0.30% | 434,713 | $19.6M | Reduce -10.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.30% | 166,697 | $19.4M | No change |
| ORLY O'reilly Automotive Inc. | 0.30% | 210,489 | $19.2M | Add +142.3% |
| AVB Avalonbay Communities Inc. | 0.29% | 103,998 | $18.9M | Reduce -35.8% |
| BIIB Biogen Inc. | 0.29% | 106,114 | $18.7M | New |
| EVR Evercore Inc. Class A | 0.28% | 54,206 | $18.4M | No change |
| GEHC GE Healthcare Technology | 0.28% | 223,759 | $18.4M | Reduce -57.7% |
| W Wayfair Inc. Class A | 0.28% | 182,231 | $18.3M | No change |
| ES Eversource Energy | 0.27% | 263,380 | $17.7M | Reduce -0.9% |
| CYTK Cytokinetics Inc. | 0.27% | 278,429 | $17.7M | No change |
| MET Metlife Inc. | 0.27% | 221,931 | $17.5M | Reduce -62.3% |
| DINO HF Sinclair Corp. | 0.27% | 376,203 | $17.3M | Reduce -1.3% |
| LMT Lockheed Martin Corp. | 0.27% | 35,574 | $17.2M | No change |
Other holdings (3): bonds, preferreds, convertibles and warrants · $43K (not counted above)
Total filed on the 13F, all lines: $6.5B.
Portfolio Sells Q3 2025 → Q4 2025
| V Visa Inc. Class A | Sold out | 0.00% | −0.63 |
| CMG Chipotle Mexican Grill Inc. | Reduce -76.9% | 0.17% | −0.63 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.53 |
| MET Metlife Inc. | Reduce -62.3% | 0.27% | −0.50 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.49 |
| ET Energy Transfer LP | Reduce -92.2% | 0.04% | −0.47 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.43 |
| CME Cme Group Inc. | Reduce -73.3% | 0.15% | −0.43 |
| BRO Brown & Brown Inc. | Sold out | 0.00% | −0.42 |
| GDDY GoDaddy Inc. Class A | Sold out | 0.00% | −0.40 |
| ARM Arm Holdings PLC-ADR | Reduce -93.7% | 0.02% | −0.40 |
| GRMN Garmin Ltd. | Reduce -81.9% | 0.07% | −0.39 |
| WEC WEC Energy Group Inc. | Reduce -87.9% | 0.05% | −0.37 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.37 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.36 |
| WM Waste Management Inc. | Sold out | 0.00% | −0.35 |
| VMC Vulcan Materials Co. | Reduce -38.7% | 0.43% | −0.35 |
| GEHC GE Healthcare Technology | Reduce -57.7% | 0.28% | −0.35 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −0.31 |
| VLTO Veralto Corp. | Reduce -96.9% | 0.01% | −0.30 |
| DKS Dick's Sporting Goods Inc. | Reduce -77.7% | 0.07% | −0.27 |
| ARE Alexandria Real Estate Equit | Reduce -85.5% | 0.02% | −0.27 |
| FFIV F5 Inc. | Sold out | 0.00% | −0.25 |
| PCG P G & E Corp. | Sold out | 0.00% | −0.24 |
| DUOL Duolingo | Sold out | 0.00% | −0.23 |
| PSN Parsons Corp. | Reduce -78.3% | 0.04% | −0.23 |
| KBR KBR Inc. | Reduce -94.6% | 0.01% | −0.21 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.21 |
| O Realty Income Corp. | Reduce -16.8% | 0.63% | −0.21 |
| EQH Equitable Holdings Inc. | Reduce -90.8% | 0.02% | −0.21 |
| AVB Avalonbay Communities Inc. | Reduce -35.8% | 0.29% | −0.21 |
| CNP Centerpoint Energy Inc. | Reduce -95.4% | 0.01% | −0.20 |
| EXP Eagle Materials Inc. | Reduce -97.4% | 0.00% | −0.19 |
| TRU Transunion | Sold out | 0.00% | −0.19 |
| ETN Eaton Corp. PLC | Reduce -18.4% | 0.39% | −0.18 |
| MPC Marathon Petroleum Corp. | Reduce -83.6% | 0.03% | −0.18 |
| URI United Rentals Inc. | Reduce -11.1% | 0.49% | −0.18 |
| CHRD Chord Energy Corp. | Reduce -79.1% | 0.04% | −0.17 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.17 |
| CCC CCC Intelligent Solutions Ho | Sold out | 0.00% | −0.16 |
| DTE DTE Energy Company | Reduce -40.9% | 0.18% | −0.16 |
| MOH Molina Healthcare Inc. | Reduce -41.6% | 0.17% | −0.16 |
| FNF Fidelity National Financial | Reduce -41.5% | 0.16% | −0.15 |
| TYL Tyler Technologies Inc. | Sold out | 0.00% | −0.15 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -77.0% | 0.05% | −0.15 |
| EXR Extra Space Storage Inc. | Sold out | 0.00% | −0.15 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −0.15 |
| TTEK Tetra Tech Inc. | Sold out | 0.00% | −0.14 |
| AS Amer Sports Inc. | Sold out | 0.00% | −0.14 |
| INTU Intuit Inc. | Reduce -72.8% | 0.05% | −0.14 |
Portfolio Buys Q3 2025 → Q4 2025
| PM Philip Morris International | Add +4066.6% | 0.97% | +0.94 |
| COST Costco Wholesale Corp. | New | 0.93% | +0.93 |
| MCD McDonald's Corp. | Add +450.2% | 0.90% | +0.74 |
| KR Kroger Co. | New | 0.71% | +0.71 |
| DIS The Walt Disney Co. | New | 0.69% | +0.69 |
| ISRG Intuitive Surgical Inc. | New | 0.66% | +0.66 |
| WMB Williams Cos Inc. | Add +402.1% | 0.75% | +0.59 |
| SBUX Starbucks Corp. | Add +214.6% | 0.85% | +0.57 |
| DXCM Dexcom Inc. | New | 0.54% | +0.54 |
| EXE Expand Energy Corp. | New | 0.51% | +0.51 |
| CTRA Coterra Energy Inc. | New | 0.46% | +0.46 |
| FLUT Flutter Entertainment PLC-Di | Add +2387.4% | 0.46% | +0.44 |
| CI The Cigna Group | New | 0.34% | +0.34 |
| TXRH Texas Roadhouse Inc. | New | 0.32% | +0.32 |
| AZO AutoZone Inc. | Add +2656.1% | 0.33% | +0.31 |
| BIIB Biogen Inc. | New | 0.29% | +0.29 |
| RGLD Royal Gold Inc. | Add +185.7% | 0.41% | +0.28 |
| PEN Penumbra Inc. | Add +362.6% | 0.32% | +0.26 |
| TRGP Targa Resources Corp. | Add +95.6% | 0.48% | +0.25 |
| SFM Sprouts Farmers Market Inc. | New | 0.25% | +0.25 |
| GM General Motors Co. | Add +0.1% | 1.00% | +0.23 |
| BRKR Bruker Corp. | New | 0.22% | +0.22 |
| MRNA Moderna Inc. | New | 0.21% | +0.21 |
| REG Regency Centers Corp. | Add +3269.5% | 0.22% | +0.21 |
| TJX TJX Companies Inc. | Add +24.8% | 0.94% | +0.21 |
| TTD Trade Desk Inc./the Class A | Add +263.0% | 0.32% | +0.20 |
| PLD Prologis Inc. | Add +36.7% | 0.62% | +0.20 |
| AEO American Eagle Outfitters | New | 0.20% | +0.20 |
| LAD Lithia Motors Inc. | Add +816.6% | 0.22% | +0.19 |
| SO The Southern Co. | New | 0.19% | +0.19 |
| AMGN Amgen Inc. | New | 0.19% | +0.19 |
| CZR Caesars Entertainment Inc. | New | 0.19% | +0.19 |
| OLLI Ollie's Bargain Outlet Holdi | Add +6271.1% | 0.19% | +0.19 |
| BG Bunge Global SA | Add +354.9% | 0.23% | +0.18 |
| EQIX Equinix Inc. | Add +57.1% | 0.55% | +0.18 |
| DVA Davita Inc. | Add +541.7% | 0.22% | +0.18 |
| CHH Choice Hotels Intl Inc. | New | 0.18% | +0.18 |
| WES Western Midstream Partners L | New | 0.18% | +0.18 |
| ALC Alcon Inc. | Add +203.5% | 0.24% | +0.16 |
| FER Ferrovial NV | Add +635.3% | 0.18% | +0.16 |
| DD Dupont DE Nemours Inc. | New | 0.16% | +0.16 |
| FRPT Freshpet Inc. | New | 0.15% | +0.15 |
| URBN Urban Outfitters Inc. | Add +1184.6% | 0.16% | +0.15 |
| ORLY O'reilly Automotive Inc. | Add +142.3% | 0.30% | +0.15 |
| PINS Pinterest Inc. Class A | Add +537.1% | 0.18% | +0.15 |
| SKY Champion Homes Inc. | New | 0.13% | +0.13 |
| VTR Ventas Inc. | Add +25.9% | 0.50% | +0.13 |
| FOXA Fox Corp. Class A | New | 0.13% | +0.13 |
| VIPS Vipshop Holdings Ltd. - ADR | Add +504.1% | 0.15% | +0.12 |
| GT Goodyear Tire & Rubber Co. | Add +551.5% | 0.14% | +0.12 |
Notes & Other Activity Q3 2025 → Q4 2025
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 23,751 | $12K |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 23,751 | $9K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 829 | $6.3B | INTC, ABBV, SHW, MDT, PM |
| Q1 2026 | 955 | $6.7B | MRK, MU, COST, BKR, PFE |
| Q4 2025 | 988 | $6.5B | MRK, MU, AAPL, GM, ORCL |
| Q3 2025 | 1,025 | $6.3B | ORCL, AAPL, BLK, MRK, ANET |
| Q2 2025 | 831 | $4.6B | ORCL, PFE, MRK, BLK, AMZN |
| Q1 2025 | 160 | $232.6M | SU, MFC, ALC, ETN, BCE |
| Q4 2024 | 16 | $29.7M | FNV, JWN, JNPR, RLI, HBAN |
| Q3 2024 | 348 | $1.5B | TMO, SYK, V, TFC, MRK |
| Q2 2024 | 499 | $2.4B | KVUE, EME, SYK, TMO, V |
| Q1 2024 | 778 | $4.3B | KVUE, EME, LOW, AMZN, SYK |