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 |
iShares MSCI Emerging Markets ETF
EEM
|
+$444M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$252M |
| 3 |
Bank of America
BAC
|
+$191M |
| 4 |
Citigroup
C
|
+$182M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$140M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$2.59B |
| 2 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$518M |
| 3 |
Meta Platforms (Facebook)
META
|
+$292M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$245M |
| 5 |
AGN
Allergan plc
AGN
|
+$199M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 1.95% |
| 2 | Technology | 1.63% |
| 3 | Consumer Discretionary | 1.42% |
| 4 | Communication Services | 1.39% |
| 5 | Healthcare | 1.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
PUT
GE Aerospace
GE
$361B
| $290M | 0.15% |
1,901,058
-2,892,348
| -60% | -$408M |
|
102
PUT
Walmart Inc
WMT
$825B
| $281M | 0.15% |
12,293,700
-2,843,700
| -19% | -$62.4M |
|
103
CALL
Amgen
AMGN
$238B
| $272M | 0.14% |
1,811,700
+293,900
| +19% | +$43.7M |
|
|
RTN
104
PUT
DELISTED
Raytheon Company
RTN
| $271M | 0.14% |
2,210,800
+1,890,500
| +590% | +$233M |
|
105
CALL
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.9B
| $268M | 0.14% |
1,018,400
+81,900
| +9% | +$19.9M |
|
106
CALL
Biogen
BIIB
$32B
| $267M | 0.14% |
1,027,400
-101,000
| -9% | -$26.7M |
|
107
PUT
VanEck Gold Miners ETF
GDX
$31.8B
| $267M | 0.14% |
13,212,000
+5,631,300
| +74% | +$96.9M |
|
|
108
Citigroup
C
$221B
| $266M | 0.14% |
6,374,834
+4,351,697
| +215% | +$182M |
|
109
CALL
iShares MSCI Brazil ETF
EWZ
$8.52B
| $264M | 0.14% |
10,023,800
+2,782,100
| +38% | +$59.8M |
|
110
Walt Disney
DIS
$186B
| $255M | 0.14% |
2,570,330
-469,912
| -15% | -$45.4M |
|
|
111
PUT
iShares MSCI Brazil ETF
EWZ
$8.52B
| $255M | 0.14% |
9,703,100
+39,600
| +0.4% | +$851K |
|
|
TWC
112
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $255M | 0.14% |
1,245,600
-1,004,400
| -45% | -$190M |
|
113
CALL
Boeing
BA
$169B
| $248M | 0.13% |
1,953,400
+256,600
| +15% | +$31.8M |
|
114
CALL
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| $246M | 0.13% |
4,755,400
+2,216,600
| +87% | +$115M |
|
115
PUT
Verizon
VZ
$205B
| $244M | 0.13% |
4,503,000
-711,600
| -14% | -$35.6M |
|
116
PUT
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $241M | 0.13% |
12,208,456
-21,985,403
| -64% | -$419M |
|
117
CALL
Cisco
CSCO
$438B
| $241M | 0.13% |
8,454,100
-3,519,400
| -29% | -$90.5M |
|
118
CALL
iShares Biotechnology ETF
IBB
$10.7B
| $238M | 0.13% |
2,742,000
+98,100
| +4% | +$8.77M |
|
119
CALL
American Airlines Group
AAL
$9.15B
| $236M | 0.13% |
5,745,300
-1,932,800
| -25% | -$77.8M |
|
|
VXX
120
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $233M | 0.12% |
827,506
-253,800
| -23% | -$95.6M |
|
|
VXX
121
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $233M | 0.12% |
826,156
-357,050
| -30% | -$134M |
|
122
PUT
Intel
INTC
$476B
| $232M | 0.12% |
7,178,400
-6,924,400
| -49% | -$212M |
|
|
123
Berkshire Hathaway Class B
BRK.B
$1.06T
| $232M | 0.12% |
1,636,290
-1,849,094
| -53% | -$245M |
|
124
CALL
Broadcom
AVGO
$1.75T
| $232M | 0.12% |
15,024,000
-4,440,000
| -23% | -$60M |
|
125
PUT
Blackstone
BX
$108B
| $227M | 0.12% |
8,085,500
-2,363,400
| -23% | -$62.4M |
|
Similar funds
Jeff Yass's Q1 2016 Portfolio in Review
As of Q1 2016, Jeff Yass held 10,537 positions worth $188B, down 13% from $216B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Jeff Yass withdrew a net $22.6B in Q1 2016, closing 1,613 positions and reducing 4,303 holdings. Its most notable exit was KEURIG GREEN MTN INC, an estimated $84.4M position sold in full.
By sector, the portfolio is most concentrated in Financials at 2% of assets, down from 2.2% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Jeff Yass opened a new position in iShares National Muni Bond ETF worth $17.4M.
- Jeff Yass's largest Q1 2016 buy was iShares National Muni Bond ETF: 155,932 shares worth $17.4M.
- Jeff Yass added most to iShares MSCI Emerging Markets ETF in Q1 2016, an estimated $444M increase.
- Jeff Yass's biggest Q1 2016 reduction was Apple, cutting an estimated $2.59B.
- Jeff Yass fully exited KEURIG GREEN MTN INC in Q1 2016, selling an estimated $84.4M.
- Jeff Yass's ten largest holdings make up 24% of its $188B portfolio in Q1 2016.
- Jeff Yass opened 1,208 new positions and closed 1,613 in Q1 2016.
- Jeff Yass's portfolio value fell 13% quarter-over-quarter to $188B.
Based on Susquehanna International Group's 13F filing for Q1 2016, filed 13 May 2016.