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
|
+$6.39B |
| 2 |
iShares Russell 2000 ETF
IWM
|
+$565M |
| 3 |
Citigroup
C
|
+$429M |
| 4 |
United States Oil Fund
USO
|
+$386M |
| 5 |
iShares MSCI EAFE ETF
EFA
|
+$378M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$946M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$771M |
| 3 |
Alibaba
BABA
|
+$626M |
| 4 |
Tesla
TSLA
|
+$505M |
| 5 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$421M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.01% |
| 2 | Communication Services | 1.39% |
| 3 | Financials | 0.98% |
| 4 | Consumer Discretionary | 0.94% |
| 5 | Healthcare | 0.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
51
PUT
iShares MSCI EAFE ETF
EFA
$80B
| $886M | 0.28% |
16,571,200
-2,646,700
| -14% | -$168M |
|
|
52
Alphabet (Google) Class A
GOOGL
$4.22T
| $879M | 0.28% |
15,133,620
-11,384,980
| -43% | -$771M |
|
53
CALL
SPDR Gold Trust
GLD
$152B
| $835M | 0.27% |
5,643,000
-360,100
| -6% | -$53.6M |
|
54
CALL
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$137M
| $832M | 0.26% |
281,125
+85,556
| +44% | +$139M |
|
55
PUT
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46.4B
| $805M | 0.26% |
3,674,100
+105,700
| +3% | +$28.1M |
|
56
CALL
JPMorgan Chase
JPM
$935B
| $786M | 0.25% |
8,735,100
+1,805,600
| +26% | +$219M |
|
57
PUT
Bank of America
BAC
$431B
| $786M | 0.25% |
37,039,300
+10,621,700
| +40% | +$318M |
|
58
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $786M | 0.25% |
10,199,600
+5,842,500
| +134% | +$494M |
|
59
Boeing
BA
$169B
| $774M | 0.25% |
5,190,304
+138,103
| +3% | +$37.8M |
|
60
CALL
Johnson & Johnson
JNJ
$651B
| $769M | 0.24% |
5,867,200
+1,537,200
| +36% | +$218M |
|
61
CALL
Home Depot
HD
$335B
| $751M | 0.24% |
4,022,800
-833,500
| -17% | -$183M |
|
62
Netflix
NFLX
$331B
| $750M | 0.24% |
19,960,610
-7,497,280
| -27% | -$265M |
|
|
63
Amazon
AMZN
$2.79T
| $719M | 0.23% |
7,373,240
-9,775,080
| -57% | -$946M |
|
64
PUT
Shopify
SHOP
$192B
| $713M | 0.23% |
17,103,000
-7,001,000
| -29% | -$316M |
|
65
CALL
Gilead Sciences
GILD
$181B
| $702M | 0.22% |
9,393,400
+5,058,000
| +117% | +$349M |
|
66
CALL
Intel
INTC
$476B
| $686M | 0.22% |
12,683,200
+2,811,200
| +28% | +$166M |
|
|
67
PUT
Citigroup
C
$221B
| $673M | 0.21% |
15,972,800
+3,741,100
| +31% | +$251M |
|
|
68
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $660M | 0.21% |
8,565,300
+2,842,400
| +50% | +$240M |
|
69
PUT
UnitedHealth
UNH
$350B
| $659M | 0.21% |
2,643,900
+444,700
| +20% | +$122M |
|
|
70
CALL
iShares MSCI EAFE ETF
EFA
$80B
| $653M | 0.21% |
12,222,200
+3,895,300
| +47% | +$247M |
|
71
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $653M | 0.21% |
19,118,400
-438,100
| -2% | -$18M |
|
|
72
CALL
Bank of America
BAC
$431B
| $651M | 0.21% |
30,680,900
-2,466,000
| -7% | -$73.9M |
|
73
PUT
Adobe
ADBE
$109B
| $637M | 0.2% |
2,001,500
-204,000
| -9% | -$69.8M |
|
|
74
PUT
Gilead Sciences
GILD
$181B
| $632M | 0.2% |
8,447,300
+1,571,000
| +23% | +$109M |
|
75
CALL
Chipotle Mexican Grill
CMG
$46.7B
| $617M | 0.2% |
47,180,000
-5,515,000
| -10% | -$87.2M |
|
Similar funds
Jeff Yass's Q1 2020 Portfolio in Review
As of Q1 2020, Jeff Yass held 11,456 positions worth $314B, down 9.5% from $347B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Jeff Yass deployed $31.5B of net new capital in Q1 2020, opening 1,843 new positions and adding to 4,539 existing holdings. Its largest new stake was Invesco DB US Dollar Index Bullish Fund: 8,692,802 shares worth $233M.
By sector, the portfolio is most concentrated in Technology at 2% of assets, down from 2.2% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Amazon, an estimated $946M trimmed.
- Jeff Yass's largest Q1 2020 buy was Invesco DB US Dollar Index Bullish Fund: 8,692,802 shares worth $233M.
- Jeff Yass added most to State Street SPDR S&P 500 ETF Trust in Q1 2020, an estimated $6.39B increase.
- Jeff Yass's biggest Q1 2020 reduction was Amazon, cutting an estimated $946M.
- Jeff Yass fully exited Medicines Co in Q1 2020, selling an estimated $92M.
- Jeff Yass's ten largest holdings make up 30% of its $314B portfolio in Q1 2020.
- Jeff Yass opened 1,843 new positions and closed 1,300 in Q1 2020.
- Jeff Yass's portfolio value fell 9.5% quarter-over-quarter to $314B.
Based on Susquehanna International Group's 13F filing for Q1 2020, filed 15 May 2020.