Susquehanna International Group2026-Q1
SUSQUEHANNA INTERNATIONAL GROUP, LLP の2026年第1四半期（3月31日）の13F提出書類では、コアETFであるSPYへの資金シフトが最大の動きとなった。同銘柄は+$46.52Bの純増加となり、ポートフォリオ・ウェイトが8.91%%から13.87%%へと上昇した。
| Ticker | Action | Value ($) | % of Portfolio |
|---|---|---|---|
| — | 新規ポジションおよび完全売却は該当四半期中に確認されず | — | — |
全てのアクションは既存保有の増減（add／trim）に集中している。以下は主要な変動をまとめたものである。
| 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 |
| XOM | add | +$2.00B | +0.22pts |
| XLE | add | +$1.77B | +0.19pts |
| IGV | add | +$1.43B | +0.16pts |
| HYG | add | +$1.29B | +0.14pts |
| XOP | add | +$1.25B | +0.14pts |
| CVX | add | +$1.21B | +0.14pts |
| WMT | add | +$1.16B | +0.12pts |
| GEV | add | +$1.14B | +0.12pts |
| WDC | add | +$1.14B | +0.13pts |
| EEM | add | +$1.14B | +0.12pts |
| VOO | add | +$1.14B | +0.13pts |
| ASML | add | +$1.04B | +0.11pts |
| XLP | add | +$984.7M | +0.10pts |
| NFLX | add | +$938.2M | +0.08pts |
| AMAT | add | +$899.8M | +0.10pts |
| EWY | add | +$868.9M | +0.10pts |
| 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 |
| HOOD | trim | -$2.54B | -0.30pts |
| UNH | trim | -$2.30B | -0.29pts |
| LLY | trim | -$2.25B | -0.28pts |
| BKNG | trim | -$2.16B | -0.26pts |
| BABA | trim | -$1.99B | -0.24pts |
| AVGO | trim | -$1.93B | -0.25pts |
| FSLR | trim | -$1.81B | -0.22pts |
| CVNA | trim | -$1.54B | -0.19pts |
| GOOG | trim | -$1.39B | -0.19pts |
| COIN | trim | -$1.17B | -0.15pts |
| COST | trim | -$1.11B | -0.14pts |
| PEP | trim | -$944.7M | -0.11pts |
| LULU | trim | -$936.5M | -0.11pts |
| BRK-B | trim | -$883.8M | -0.11pts |
| RDDT | trim | -$805.2M | -0.10pts |
| NEM | trim | -$786.5M | -0.10pts |
大幅なポジション変更に伴い、ポートフォリオ全体の集中度（HHI）は0.019から0.029へ上昇した。情報技術セクターの構成比は36.53%から40.27%へと拡大している。
| Metric | This Quarter | Prior Quarter |
|---|---|---|
| Holdings Count | 6,848 | 6,420 |
| Turnover Ratio | 0.307 | 0.233 |
| Mapped Value Ratio | 0.632 | 0.696 |
| HHI（集中度） | 0.029 | 0.019 |
| Momentum Tilt（ppts） | 0.015 | 0.014 |
| Coefficient of Variation | 14.08 | 11.11 |
| Information Technology | 40.27% | 36.53% |
| Consumer Discretionary | 15.09% | 17.85% |
| Communication Services | 10.84% | 12.45% |
| Financials | 9.42% | 10.09% |
| Health Care | 7.12% | 8.20% |
| Industrials | 6.91% | 5.94% |
| Energy | 3.46% | 2.07% |
| Consumer Staples | 3.08% | 3.18% |
| Materials | 2.16% | 2.15% |
| Utilities | 1.09% | 1.06% |
| Real Estate | 0.57% | 0.48% |
SUSQUEHANNAは今四半期、SPYを最大の単一ポジションとするために積極的な資金移動を実行した。一方でTSLA、META、AAPL、NVDAなどの大型グロース株は大幅に手放し、ポートフォリオ全体の集中度を高める方向へと舵を切った。ポートフォリオの回転率は0.233から0.307へ加速し、変動係数（CV）も11.11から14.08へ上昇した。