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 | |
|---|---|---|---|---|---|---|
76
PUT
Walt Disney
DIS
$186B
| $798M | 0.16% |
8,943,000
+295,500
| +3% | +$28M |
|
77
PUT
UnitedHealth
UNH
$350B
| $797M | 0.16% |
1,657,700
+77,100
| +5% | +$37.7M |
|
78
Alphabet (Google) Class A
GOOGL
$4.22T
| $792M | 0.16% |
6,616,177
+2,363,141
| +56% | +$272M |
|
|
79
iShares MSCI EAFE ETF
EFA
$80B
| $791M | 0.16% |
10,910,137
+6,001,745
| +122% | +$436M |
|
|
80
iShares 20+ Year Treasury Bond ETF
TLT
$45.5B
| $785M | 0.16% |
7,626,892
+5,554,509
| +268% | +$576M |
|
|
81
Invesco QQQ Trust
QQQ
$486B
| $769M | 0.16% |
2,080,390
-7,358,552
| -78% | -$2.48B |
|
82
CALL
First Solar
FSLR
$23B
| $751M | 0.15% |
3,949,700
-99,200
| -2% | -$19.7M |
|
83
CALL
Eli Lilly
LLY
$1.12T
| $734M | 0.15% |
1,565,700
-634,600
| -29% | -$266M |
|
84
CALL
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| $734M | 0.15% |
18,544,000
-15,930,200
| -46% | -$626M |
|
|
85
JPMorgan Chase
JPM
$935B
| $722M | 0.15% |
4,966,735
+2,353,616
| +90% | +$324M |
|
86
PUT
VanEck Semiconductor ETF
SMH
$68.6B
| $702M | 0.14% |
4,607,800
-452,800
| -9% | -$61.2M |
|
87
CALL
Palo Alto Networks
PANW
$292B
| $690M | 0.14% |
5,398,400
-490,400
| -8% | -$51M |
|
88
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$33.8B
| $673M | 0.14% |
6,270,100
+1,643,900
| +36% | +$166M |
|
89
PUT
ExxonMobil
XOM
$679B
| $672M | 0.14% |
6,267,400
-18,000
| -0.3% | -$1.96M |
|
90
CALL
Salesforce
CRM
$171B
| $667M | 0.14% |
3,156,100
-1,896,900
| -38% | -$387M |
|
91
PUT
Johnson & Johnson
JNJ
$651B
| $665M | 0.14% |
4,019,300
+584,800
| +17% | +$94.4M |
|
|
92
Walt Disney
DIS
$186B
| $660M | 0.13% |
7,397,890
+2,984,753
| +68% | +$283M |
|
93
PUT
Snowflake
SNOW
$115B
| $655M | 0.13% |
3,721,000
+1,250,400
| +51% | +$203M |
|
94
PUT
Mercado Libre
MELI
$97.5B
| $650M | 0.13% |
548,400
+78,500
| +17% | +$98.7M |
|
95
CALL
Goldman Sachs
GS
$303B
| $649M | 0.13% |
2,011,700
+81,800
| +4% | +$26.9M |
|
96
CALL
Uber
UBER
$161B
| $645M | 0.13% |
14,946,700
+3,659,500
| +32% | +$136M |
|
97
PUT
Target
TGT
$75.1B
| $643M | 0.13% |
4,874,900
+2,034,300
| +72% | +$302M |
|
98
Citigroup
C
$221B
| $643M | 0.13% |
13,955,955
+3,287,853
| +31% | +$154M |
|
99
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $627M | 0.13% |
8,354,000
-3,197,100
| -28% | -$239M |
|
100
CALL
TSMC
TSM
$2.17T
| $625M | 0.13% |
6,192,200
+2,141,600
| +53% | +$199M |
|
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.