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 |
NVIDIA
NVDA
|
+$1.79B |
| 2 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$576M |
| 3 |
Microsoft
MSFT
|
+$546M |
| 4 |
iShares MSCI EAFE ETF
EFA
|
+$436M |
| 5 |
JPMorgan Chase
JPM
|
+$324M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$2.48B |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.73B |
| 3 |
iShares Russell 2000 ETF
IWM
|
+$765M |
| 4 |
Apple
AAPL
|
+$656M |
| 5 |
Berkshire Hathaway Class B
BRK.B
|
+$526M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.7% |
| 2 | Consumer Discretionary | 1.66% |
| 3 | Financials | 1.18% |
| 4 | Communication Services | 1.07% |
| 5 | Healthcare | 0.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
51
PUT
JPMorgan Chase
JPM
$935B
| $1.14B | 0.23% |
7,854,600
-1,126,000
| -13% | -$155M |
|
|
52
CALL
JPMorgan Chase
JPM
$935B
| $1.13B | 0.23% |
7,800,900
-2,190,300
| -22% | -$301M |
|
53
PUT
Chipotle Mexican Grill
CMG
$46.7B
| $1.13B | 0.23% |
26,505,000
+5,250,000
| +25% | +$208M |
|
54
PUT
Boeing
BA
$169B
| $1.13B | 0.23% |
5,349,700
+1,380,400
| +35% | +$287M |
|
55
PUT
First Solar
FSLR
$23B
| $1.01B | 0.21% |
5,330,000
+1,595,600
| +43% | +$316M |
|
56
CALL
UnitedHealth
UNH
$350B
| $997M | 0.2% |
2,074,900
-69,500
| -3% | -$34M |
|
|
57
CALL
iShares MSCI EAFE ETF
EFA
$80B
| $995M | 0.2% |
13,723,200
-1,755,300
| -11% | -$127M |
|
58
CALL
Johnson & Johnson
JNJ
$651B
| $985M | 0.2% |
5,951,400
+1,984,100
| +50% | +$320M |
|
59
Tesla
TSLA
$1.43T
| $980M | 0.2% |
3,742,501
-759,457
| -17% | -$152M |
|
60
PUT
Citigroup
C
$221B
| $963M | 0.2% |
20,923,700
-4,433,600
| -17% | -$208M |
|
61
PUT
Bank of America
BAC
$431B
| $943M | 0.19% |
32,873,000
-42,800
| -0.1% | -$1.22M |
|
62
CALL
Oracle
ORCL
$422B
| $932M | 0.19% |
7,830,000
+1,266,100
| +19% | +$131M |
|
|
63
CALL
Boeing
BA
$169B
| $918M | 0.19% |
4,346,100
-406,100
| -9% | -$84.4M |
|
64
CALL
Home Depot
HD
$335B
| $908M | 0.18% |
2,923,600
+32,800
| +1% | +$9.69M |
|
65
CALL
Costco
COST
$420B
| $871M | 0.18% |
1,618,300
+48,800
| +3% | +$24.7M |
|
66
PUT
Eli Lilly
LLY
$1.12T
| $862M | 0.18% |
1,837,000
-412,500
| -18% | -$173M |
|
67
PUT
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $848M | 0.17% |
21,446,100
-931,900
| -4% | -$36.6M |
|
68
PUT
Goldman Sachs
GS
$303B
| $847M | 0.17% |
2,626,800
-132,500
| -5% | -$43.6M |
|
|
69
Apple
AAPL
$4.51T
| $843M | 0.17% |
4,347,531
-3,763,861
| -46% | -$656M |
|
70
PUT
Alibaba
BABA
$286B
| $830M | 0.17% |
9,959,700
+20,600
| +0.2% | +$1.8M |
|
71
CALL
Visa
V
$693B
| $820M | 0.17% |
3,451,400
+97,700
| +3% | +$22.4M |
|
|
72
PUT
Berkshire Hathaway Class B
BRK.B
$1.06T
| $818M | 0.17% |
2,399,000
-717,200
| -23% | -$234M |
|
|
73
CALL
Alibaba
BABA
$286B
| $809M | 0.16% |
9,704,600
-3,924,300
| -29% | -$343M |
|
74
PUT
ASML
ASML
$677B
| $808M | 0.16% |
1,115,100
+77,800
| +8% | +$52.9M |
|
|
75
PUT
Home Depot
HD
$335B
| $803M | 0.16% |
2,586,000
-1,507,700
| -37% | -$445M |
|
Similar funds
Jeff Yass's Q2 2023 Portfolio in Review
As of Q2 2023, Jeff Yass held 13,811 positions worth $492B, up 4.6% from $470B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Jeff Yass withdrew a net $23.6B in Q2 2023, closing 1,867 positions and reducing 5,559 holdings. Its most notable exit was Vanguard Intermediate-Term Corporate Bond ETF, an estimated $45.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 2.7% of assets, up from 2.3% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Jeff Yass opened a new position in State Street SPDR Portfolio Aggregate Bond ETF worth $32.9M.
- Jeff Yass's largest Q2 2023 buy was State Street SPDR Portfolio Aggregate Bond ETF: 1,297,445 shares worth $32.9M.
- Jeff Yass added most to NVIDIA in Q2 2023, an estimated $1.79B increase.
- Jeff Yass's biggest Q2 2023 reduction was Invesco QQQ Trust, cutting an estimated $2.48B.
- Jeff Yass fully exited Vanguard Intermediate-Term Corporate Bond ETF in Q2 2023, selling an estimated $45.5M.
- Jeff Yass's ten largest holdings make up 30% of its $492B portfolio in Q2 2023.
- Jeff Yass opened 1,370 new positions and closed 1,867 in Q2 2023.
- Jeff Yass's portfolio value rose 4.6% quarter-over-quarter to $492B.
Based on Susquehanna International Group's 13F filing for Q2 2023, filed 11 Aug 2023.