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 |
iShares Russell 2000 ETF
IWM
|
+$580M |
| 2 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$256M |
| 3 |
iShares Russell 2000 Growth ETF
IWO
|
+$200M |
| 4 |
Cheniere Energy
LNG
|
+$147M |
| 5 |
WisdomTree Japan Hedged Equity Fund
DXJ
|
+$141M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$889M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$332M |
| 3 |
HIG.WS
Hartford Financial Services Grp
HIG.WS
|
+$329M |
| 4 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$231M |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$191M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 3.62% |
| 2 | Financials | 1.79% |
| 3 | Consumer Discretionary | 1.58% |
| 4 | Energy | 1.56% |
| 5 | Communication Services | 1.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
CALL
Citigroup
C
$221B
| $503M | 0.23% |
9,661,200
-97,000
| -1% | -$4.91M |
|
52
PUT
Baidu
BIDU
$31.6B
| $503M | 0.23% |
2,825,900
-28,900
| -1% | -$4.67M |
|
53
PUT
IBM
IBM
$222B
| $501M | 0.23% |
2,793,866
+467,876
| +20% | +$80.7M |
|
54
CALL
Herbalife
HLF
$1.33B
| $488M | 0.23% |
12,404,800
+2,035,000
| +20% | +$70.5M |
|
|
55
PUT
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $485M | 0.22% |
11,613,600
-7,718,000
| -40% | -$323M |
|
56
CALL
Micron Technology
MU
$1.09T
| $485M | 0.22% |
22,269,200
+5,755,400
| +35% | +$112M |
|
57
CALL
General Motors
GM
$77.2B
| $481M | 0.22% |
11,766,600
+6,974,400
| +146% | +$264M |
|
|
58
PUT
Herbalife
HLF
$1.33B
| $471M | 0.22% |
11,976,800
-1,070,200
| -8% | -$37.1M |
|
59
PUT
iShares MSCI Brazil ETF
EWZ
$8.52B
| $467M | 0.22% |
10,442,200
+1,315,000
| +14% | +$62.5M |
|
60
CALL
Chipotle Mexican Grill
CMG
$46.7B
| $462M | 0.21% |
43,345,000
+5,895,000
| +16% | +$59.9M |
|
|
VXX
61
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $457M | 0.21% |
670,694
+543,821
| +429% | +$434M |
|
|
TWTR
62
PUT
DELISTED
Twitter, Inc.
TWTR
| $453M | 0.21% |
+7,113,200
| New | +$353M |
|
63
CALL
iShares MSCI EAFE ETF
EFA
$80B
| $444M | 0.2% |
6,618,800
-1,253,700
| -16% | -$81.9M |
|
64
CALL
Intel
INTC
$476B
| $437M | 0.2% |
16,840,900
+7,352,100
| +77% | +$178M |
|
65
CALL
Procter & Gamble
PG
$336B
| $433M | 0.2% |
5,320,800
+1,739,000
| +49% | +$142M |
|
66
PUT
Caterpillar
CAT
$381B
| $432M | 0.2% |
4,758,500
+810,200
| +21% | +$69.2M |
|
|
67
CALL
IBM
IBM
$222B
| $431M | 0.2% |
2,402,767
+1,159,387
| +93% | +$200M |
|
|
CELG
68
CALL
DELISTED
Celgene Corp
CELG
| $429M | 0.2% |
5,072,600
+1,497,200
| +42% | +$118M |
|
69
PUT
Gilead Sciences
GILD
$181B
| $429M | 0.2% |
5,702,100
+1,404,900
| +33% | +$97.8M |
|
70
CALL
Goldman Sachs
GS
$303B
| $428M | 0.2% |
2,414,100
-510,800
| -17% | -$84.2M |
|
|
71
PUT
General Motors
GM
$77.2B
| $427M | 0.2% |
10,440,500
+5,804,200
| +125% | +$219M |
|
|
LNKD
72
PUT
DELISTED
LinkedIn Corporation
LNKD
| $426M | 0.2% |
1,962,500
+332,700
| +20% | +$75.7M |
|
73
Mastercard
MA
$509B
| $411M | 0.19% |
4,914,280
+1,893,060
| +63% | +$141M |
|
|
74
PUT
Procter & Gamble
PG
$336B
| $401M | 0.19% |
4,923,300
-1,568,200
| -24% | -$128M |
|
75
PUT
Bank of America
BAC
$431B
| $400M | 0.18% |
25,711,600
-24,983,100
| -49% | -$371M |
|
Similar funds
Jeff Yass's Q4 2013 Portfolio in Review
As of Q4 2013, Jeff Yass held 9,880 positions worth $217B, up 15% from $189B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Jeff Yass deployed $9.58B of net new capital in Q4 2013, opening 1,544 new positions and adding to 3,872 existing holdings. Its largest new stake was American Airlines Group: 1,433,148 shares worth $36.2M.
By sector, the portfolio is most concentrated in Technology at 3.6% of assets, down from 3.9% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was Apple, an estimated $889M trimmed.
- Jeff Yass's largest Q4 2013 buy was American Airlines Group: 1,433,148 shares worth $36.2M.
- Jeff Yass added most to iShares Russell 2000 ETF in Q4 2013, an estimated $580M increase.
- Jeff Yass's biggest Q4 2013 reduction was Apple, cutting an estimated $889M.
- Jeff Yass fully exited Hartford Financial Services Grp in Q4 2013, selling an estimated $329M.
- Jeff Yass's ten largest holdings make up 24% of its $217B portfolio in Q4 2013.
- Jeff Yass opened 1,544 new positions and closed 949 in Q4 2013.
- Jeff Yass's portfolio value rose 15% quarter-over-quarter to $217B.
Based on Susquehanna International Group's 13F filing for Q4 2013, filed 13 Feb 2014.