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 |
Boeing
BA
|
+$923M |
| 2 |
Walt Disney
DIS
|
+$710M |
| 3 |
Bank of America
BAC
|
+$510M |
| 4 |
Amazon
AMZN
|
+$481M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$393M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$2.65B |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$678M |
| 3 |
Micron Technology
MU
|
+$514M |
| 4 |
iShares MSCI EAFE ETF
EFA
|
+$327M |
| 5 |
Alibaba
BABA
|
+$307M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 1.44% |
| 2 | Communication Services | 1.2% |
| 3 | Consumer Discretionary | 1.2% |
| 4 | Financials | 0.94% |
| 5 | Healthcare | 0.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
CALL
iShares MSCI Brazil ETF
EWZ
$8.52B
| $458M | 0.19% |
11,161,700
+2,371,900
| +27% | +$102M |
|
77
CALL
Goldman Sachs
GS
$303B
| $450M | 0.19% |
2,345,400
-83,700
| -3% | -$16.1M |
|
78
CALL
Johnson & Johnson
JNJ
$651B
| $439M | 0.18% |
3,138,900
-207,300
| -6% | -$27.8M |
|
79
PUT
Procter & Gamble
PG
$336B
| $439M | 0.18% |
4,215,400
+803,600
| +24% | +$78.2M |
|
80
PUT
IBM
IBM
$222B
| $435M | 0.18% |
3,224,713
-376,665
| -10% | -$48M |
|
81
CALL
Verizon
VZ
$205B
| $434M | 0.18% |
7,345,000
-1,293,000
| -15% | -$73.2M |
|
82
PUT
Biogen
BIIB
$32B
| $430M | 0.18% |
1,818,400
+616,100
| +51% | +$194M |
|
|
CELG
83
PUT
DELISTED
Celgene Corp
CELG
| $430M | 0.18% |
4,556,000
-489,500
| -10% | -$42.8M |
|
84
CALL
JPMorgan Chase
JPM
$935B
| $429M | 0.18% |
4,242,000
-287,800
| -6% | -$29.6M |
|
85
PUT
Intuitive Surgical
ISRG
$134B
| $429M | 0.18% |
2,254,500
-2,506,200
| -53% | -$445M |
|
86
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $427M | 0.18% |
4,938,500
-2,169,300
| -31% | -$184M |
|
87
PUT
Amgen
AMGN
$238B
| $411M | 0.17% |
2,164,800
+725,500
| +50% | +$139M |
|
88
PUT
Baidu
BIDU
$31.6B
| $411M | 0.17% |
2,490,900
+166,500
| +7% | +$27.9M |
|
89
PUT
Caterpillar
CAT
$381B
| $408M | 0.17% |
3,008,200
+165,100
| +6% | +$21.9M |
|
90
PUT
Broadcom
AVGO
$1.75T
| $407M | 0.17% |
13,538,000
-2,121,000
| -14% | -$57.5M |
|
91
PUT
GE Aerospace
GE
$361B
| $407M | 0.17% |
8,171,930
+1,343,380
| +20% | +$63.2M |
|
92
CALL
Chevron
CVX
$403B
| $405M | 0.17% |
3,284,500
+1,064,200
| +48% | +$126M |
|
93
PUT
Intel
INTC
$476B
| $400M | 0.16% |
7,445,400
-5,640,000
| -43% | -$286M |
|
94
NVIDIA
NVDA
$5.2T
| $396M | 0.16% |
88,315,720
-8,121,480
| -8% | -$31.5M |
|
|
95
CALL
Broadcom
AVGO
$1.75T
| $396M | 0.16% |
13,171,000
-4,518,000
| -26% | -$122M |
|
96
CALL
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46.4B
| $389M | 0.16% |
1,501,200
-455,700
| -23% | -$115M |
|
|
97
PUT
Johnson & Johnson
JNJ
$651B
| $388M | 0.16% |
2,778,000
-271,000
| -9% | -$36.3M |
|
98
PUT
UnitedHealth
UNH
$350B
| $387M | 0.16% |
1,565,100
+165,200
| +12% | +$42.1M |
|
99
CALL
Home Depot
HD
$335B
| $384M | 0.16% |
2,000,700
+486,900
| +32% | +$89.3M |
|
100
CALL
McDonald's
MCD
$192B
| $381M | 0.16% |
2,006,100
+770,100
| +62% | +$140M |
|
Similar funds
Jeff Yass's Q1 2019 Portfolio in Review
As of Q1 2019, Jeff Yass held 10,685 positions worth $243B, down 3.3% from $252B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Jeff Yass withdrew a net $43.7B in Q1 2019, closing 1,970 positions and reducing 3,279 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $678M position sold in full.
By sector, the portfolio is most concentrated in Technology at 1.4% of assets, down from 2.3% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jeff Yass opened a new position in iShares China Large-Cap ETF worth $192M.
- Jeff Yass's largest Q1 2019 buy was iShares China Large-Cap ETF: 4,340,587 shares worth $192M.
- Jeff Yass added most to Boeing in Q1 2019, an estimated $923M increase.
- Jeff Yass's biggest Q1 2019 reduction was Apple, cutting an estimated $2.65B.
- Jeff Yass fully exited State Street SPDR S&P 500 ETF Trust in Q1 2019, selling an estimated $678M.
- Jeff Yass's ten largest holdings make up 25% of its $243B portfolio in Q1 2019.
- Jeff Yass opened 1,860 new positions and closed 1,970 in Q1 2019.
- Jeff Yass's portfolio value fell 3.3% quarter-over-quarter to $243B.
Based on Susquehanna International Group's 13F filing for Q1 2019, filed 15 May 2019.