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
|
+$1.22B |
| 2 |
Alibaba
BABA
|
+$408M |
| 3 |
State Street Energy Select Sector SPDR ETF
XLE
|
+$292M |
| 4 |
Gilead Sciences
GILD
|
+$218M |
| 5 |
Ford
F
|
+$215M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.37B |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$1.18B |
| 3 |
YHOO
Yahoo Inc
YHOO
|
+$619M |
| 4 |
Bank of America
BAC
|
+$487M |
| 5 |
Booking.com
BKNG
|
+$406M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.53% |
| 2 | Consumer Discretionary | 2.02% |
| 3 | Financials | 1.63% |
| 4 | Healthcare | 1.38% |
| 5 | Energy | 1.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
CALL
Chipotle Mexican Grill
CMG
$46.7B
| $609M | 0.24% |
44,475,000
+2,770,000
| +7% | +$36.2M |
|
52
CALL
ExxonMobil
XOM
$679B
| $609M | 0.24% |
6,583,000
-526,100
| -7% | -$49.1M |
|
53
PUT
Intel
INTC
$476B
| $605M | 0.24% |
16,677,600
-105,700
| -0.6% | -$3.68M |
|
54
PUT
AT&T
T
$173B
| $598M | 0.24% |
23,553,033
+9,558,221
| +68% | +$248M |
|
|
APC
55
CALL
DELISTED
Anadarko Petroleum
APC
| $596M | 0.24% |
7,224,000
+2,998,500
| +71% | +$261M |
|
56
CALL
iShares MSCI EAFE ETF
EFA
$80B
| $593M | 0.24% |
9,687,100
+3,050,900
| +46% | +$190M |
|
57
PUT
United States Oil Fund
USO
$2.24B
| $591M | 0.23% |
3,630,075
+2,796,850
| +336% | +$620M |
|
|
CELG
58
PUT
DELISTED
Celgene Corp
CELG
| $590M | 0.23% |
5,277,200
+28,200
| +0.5% | +$2.97M |
|
59
CALL
Baidu
BIDU
$31.6B
| $583M | 0.23% |
2,558,200
-171,800
| -6% | -$39.4M |
|
60
CALL
Microsoft
MSFT
$3.59T
| $581M | 0.23% |
12,513,900
-4,934,800
| -28% | -$232M |
|
61
CALL
SPDR Gold Trust
GLD
$152B
| $581M | 0.23% |
5,115,360
+2,215,930
| +76% | +$256M |
|
|
62
PUT
Baidu
BIDU
$31.6B
| $572M | 0.23% |
2,510,500
-541,300
| -18% | -$124M |
|
63
CALL
JPMorgan Chase
JPM
$935B
| $571M | 0.23% |
9,129,800
-1,848,000
| -17% | -$111M |
|
|
64
Bank of America
BAC
$431B
| $570M | 0.23% |
31,875,430
-28,473,215
| -47% | -$487M |
|
|
65
CALL
AT&T
T
$173B
| $558M | 0.22% |
22,010,573
+8,450,165
| +62% | +$219M |
|
66
PUT
IBM
IBM
$222B
| $555M | 0.22% |
3,616,754
+1,023,197
| +39% | +$163M |
|
|
67
CALL
State Street Energy Select Sector SPDR ETF
XLE
$41.7B
| $551M | 0.22% |
13,929,200
+8,668,000
| +165% | +$360M |
|
68
iShares 20+ Year Treasury Bond ETF
TLT
$45.5B
| $545M | 0.22% |
4,329,369
-872,346
| -17% | -$106M |
|
|
VXX
69
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $526M | 0.21% |
1,042,413
+153,213
| +17% | +$75.3M |
|
70
CALL
Citigroup
C
$221B
| $515M | 0.2% |
9,519,500
-1,475,500
| -13% | -$78.3M |
|
71
PUT
Biogen
BIIB
$32B
| $515M | 0.2% |
1,517,200
+135,500
| +10% | +$43.8M |
|
|
CELG
72
CALL
DELISTED
Celgene Corp
CELG
| $511M | 0.2% |
4,564,400
+816,000
| +22% | +$86.1M |
|
73
CALL
General Motors
GM
$77.2B
| $508M | 0.2% |
14,557,500
+2,920,000
| +25% | +$93.2M |
|
74
CALL
American Airlines Group
AAL
$9.15B
| $504M | 0.2% |
9,392,200
+4,606,700
| +96% | +$198M |
|
75
CALL
Berkshire Hathaway Class B
BRK.B
$1.06T
| $502M | 0.2% |
3,340,100
+917,800
| +38% | +$132M |
|
Similar funds
Jeff Yass's Q4 2014 Portfolio in Review
As of Q4 2014, Jeff Yass held 10,737 positions worth $252B, down 3% from $260B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Jeff Yass withdrew a net $10.2B in Q4 2014, closing 1,178 positions and reducing 4,352 holdings. Its most notable exit was Bausch Health, an estimated $68.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 2.5% of assets, up from 2.2% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Jeff Yass opened a new position in Northern Trust Morningstar Global Upstream Natural Resources ETF worth $31M.
- Jeff Yass's largest Q4 2014 buy was Northern Trust Morningstar Global Upstream Natural Resources ETF: 1,011,289 shares worth $31M.
- Jeff Yass added most to State Street SPDR S&P 500 ETF Trust in Q4 2014, an estimated $1.22B increase.
- Jeff Yass's biggest Q4 2014 reduction was iShares MSCI Emerging Markets ETF, cutting an estimated $1.37B.
- Jeff Yass fully exited Bausch Health in Q4 2014, selling an estimated $68.9M.
- Jeff Yass's ten largest holdings make up 23% of its $252B portfolio in Q4 2014.
- Jeff Yass opened 1,370 new positions and closed 1,178 in Q4 2014.
- Jeff Yass's portfolio value fell 3% quarter-over-quarter to $252B.
Based on Susquehanna International Group's 13F filing for Q4 2014, filed 17 Feb 2015.