Jeff Yass Susquehanna International Group
Jeff Yass is a co-founder of Susquehanna International Group (SIG), a major global trading and market-making firm. SIG is known for options expertise, quantitative trading, and a training culture grounded in probabilistic decision-making. Yass’s firm is influential across derivatives markets even though it is less of a traditional long-only stock-picking franchise.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$879M |
| 2 |
Bank of America
BAC
|
+$352M |
| 3 |
Intel
INTC
|
+$243M |
| 4 |
VanEck Gold Miners ETF
GDX
|
+$232M |
| 5 |
AB InBev
BUD
|
+$188M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$1.82B |
| 2 |
Amazon
AMZN
|
+$884M |
| 3 |
Air Products & Chemicals
APD
|
+$219M |
| 4 |
Mondelez International
MDLZ
|
+$198M |
| 5 |
WFT
Weatherford International plc
WFT
|
+$181M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 1.22% |
| 2 | Technology | 1.15% |
| 3 | Consumer Discretionary | 1.1% |
| 4 | Financials | 1.05% |
| 5 | Communication Services | 0.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CALL
Visa
V
$693B
| $994M | 0.5% |
11,189,700
+1,446,100
| +15% | +$124M |
|
27
CALL
Alphabet (Google) Class A
GOOGL
$4.22T
| $980M | 0.5% |
23,124,000
-3,120,000
| -12% | -$131M |
|
28
PUT
iShares MSCI EAFE ETF
EFA
$80B
| $963M | 0.49% |
15,432,900
+3,124,400
| +25% | +$189M |
|
|
29
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $959M | 0.49% |
4,068,031
+3,782,917
| +1,327% | +$879M |
|
30
PUT
Gilead Sciences
GILD
$181B
| $801M | 0.41% |
11,793,500
+1,739,700
| +17% | +$122M |
|
31
CALL
Citigroup
C
$221B
| $778M | 0.39% |
13,009,700
-4,688,100
| -26% | -$277M |
|
|
32
CALL
Bank of America
BAC
$431B
| $769M | 0.39% |
32,615,000
-15,388,200
| -32% | -$365M |
|
33
CALL
Netflix
NFLX
$331B
| $766M | 0.39% |
51,849,000
-9,414,000
| -15% | -$132M |
|
34
CALL
SPDR Gold Trust
GLD
$152B
| $753M | 0.38% |
6,340,400
+170,300
| +3% | +$19.8M |
|
35
CALL
Microsoft
MSFT
$3.59T
| $749M | 0.38% |
11,379,100
+1,269,500
| +13% | +$81.4M |
|
|
36
Gilead Sciences
GILD
$181B
| $732M | 0.37% |
10,772,951
+2,537,841
| +31% | +$178M |
|
37
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$45.5B
| $686M | 0.35% |
5,686,000
-7,187,600
| -56% | -$863M |
|
38
PUT
iShares China Large-Cap ETF
FXI
$4.28B
| $670M | 0.34% |
17,276,000
-89,600
| -0.5% | -$3.38M |
|
39
CALL
Alibaba
BABA
$286B
| $666M | 0.34% |
6,179,900
-5,056,600
| -45% | -$515M |
|
|
40
PUT
Alibaba
BABA
$286B
| $654M | 0.33% |
6,068,800
-685,800
| -10% | -$69.8M |
|
|
41
PUT
Microsoft
MSFT
$3.59T
| $649M | 0.33% |
9,857,000
+1,474,200
| +18% | +$94.5M |
|
42
CALL
AT&T
T
$173B
| $649M | 0.33% |
20,682,998
+2,547,243
| +14% | +$80.2M |
|
43
CALL
Chipotle Mexican Grill
CMG
$46.7B
| $639M | 0.32% |
71,760,000
+20,565,000
| +40% | +$170M |
|
44
PUT
NVIDIA
NVDA
$5.2T
| $636M | 0.32% |
233,452,000
+47,396,000
| +25% | +$126M |
|
45
PUT
Goldman Sachs
GS
$303B
| $632M | 0.32% |
2,752,800
+244,000
| +10% | +$58.9M |
|
46
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $626M | 0.32% |
15,777,500
-1,626,800
| -9% | -$61.8M |
|
47
CALL
Procter & Gamble
PG
$336B
| $615M | 0.31% |
6,846,900
+2,029,000
| +42% | +$180M |
|
|
AGN
48
CALL
DELISTED
Allergan plc
AGN
| $605M | 0.31% |
2,531,900
+95,400
| +4% | +$22.2M |
|
|
49
PUT
Citigroup
C
$221B
| $564M | 0.29% |
9,420,400
+396,600
| +4% | +$23.5M |
|
50
PUT
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46.4B
| $529M | 0.27% |
2,563,200
+536,900
| +26% | +$109M |
|
Similar funds
Jeff Yass's Q1 2017 Portfolio in Review
As of Q1 2017, Jeff Yass held 10,995 positions worth $198B, up 0.36% from $197B the previous quarter. Its ten largest holdings account for 22% of the portfolio.
Jeff Yass withdrew a net $14.4B in Q1 2017, closing 2,170 positions and reducing 3,726 holdings. Its most notable exit was Air Products & Chemicals, an estimated $219M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 1.2% of assets, down from 1.2% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Jeff Yass opened a new position in iShares MSCI EAFE ETF worth $131M.
- Jeff Yass's largest Q1 2017 buy was iShares MSCI EAFE ETF: 2,100,985 shares worth $131M.
- Jeff Yass added most to State Street SPDR S&P 500 ETF Trust in Q1 2017, an estimated $879M increase.
- Jeff Yass's biggest Q1 2017 reduction was Apple, cutting an estimated $1.82B.
- Jeff Yass fully exited Air Products & Chemicals in Q1 2017, selling an estimated $219M.
- Jeff Yass's ten largest holdings make up 22% of its $198B portfolio in Q1 2017.
- Jeff Yass opened 1,488 new positions and closed 2,170 in Q1 2017.
- Jeff Yass's portfolio value rose 0.36% quarter-over-quarter to $198B.
Based on Susquehanna International Group's 13F filing for Q1 2017, filed 15 May 2017.