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 | |
|---|---|---|---|---|---|---|
101
CALL
UnitedHealth
UNH
$350B
| $379M | 0.16% |
1,534,800
-361,700
| -19% | -$92.2M |
|
102
CALL
Merck
MRK
$376B
| $373M | 0.15% |
4,702,690
-2,464,163
| -34% | -$184M |
|
103
CALL
Amgen
AMGN
$238B
| $372M | 0.15% |
1,960,500
+783,900
| +67% | +$150M |
|
104
PUT
Morgan Stanley
MS
$336B
| $370M | 0.15% |
8,777,600
+1,503,500
| +21% | +$63.3M |
|
105
PUT
CVS Health
CVS
$119B
| $369M | 0.15% |
6,835,100
+4,337,100
| +174% | +$268M |
|
106
CALL
iShares China Large-Cap ETF
FXI
$4.28B
| $368M | 0.15% |
8,316,200
-2,944,200
| -26% | -$126M |
|
107
PUT
Mastercard
MA
$509B
| $352M | 0.14% |
1,495,900
-1,738,600
| -54% | -$374M |
|
108
CALL
State Street Energy Select Sector SPDR ETF
XLE
$41.7B
| $348M | 0.14% |
10,528,600
+3,888,800
| +59% | +$125M |
|
109
CALL
Adobe
ADBE
$109B
| $347M | 0.14% |
1,303,400
-768,000
| -37% | -$194M |
|
110
PUT
AT&T
T
$173B
| $344M | 0.14% |
14,544,537
-7,844,833
| -35% | -$180M |
|
111
CALL
Comcast
CMCSA
$95.3B
| $343M | 0.14% |
8,567,400
-722,200
| -8% | -$27.2M |
|
112
PUT
Mercado Libre
MELI
$97.5B
| $339M | 0.14% |
667,700
-201,200
| -23% | -$80.2M |
|
113
Wells Fargo
WFC
$254B
| $339M | 0.14% |
7,012,324
+587,890
| +9% | +$28.9M |
|
114
Petrobras Class A
PBR.A
$111B
| $332M | 0.14% |
23,247,304
-61,700
| -0.3% | -$864K |
|
115
CALL
Eli Lilly
LLY
$1.12T
| $332M | 0.14% |
2,560,200
+858,200
| +50% | +$104M |
|
116
CALL
United States Oil Fund
USO
$2.24B
| $332M | 0.14% |
3,321,713
-2,523,200
| -43% | -$232M |
|
117
CALL
Coca-Cola
KO
$392B
| $331M | 0.14% |
7,068,900
-494,800
| -7% | -$23.1M |
|
118
CALL
Union Pacific
UNP
$183B
| $328M | 0.13% |
1,959,200
-4,337,200
| -69% | -$698M |
|
119
CALL
Advanced Micro Devices
AMD
$773B
| $325M | 0.13% |
12,737,000
-6,740,500
| -35% | -$153M |
|
120
CALL
3M
MMM
$92.3B
| $320M | 0.13% |
1,842,438
+787,566
| +75% | +$133M |
|
121
Meta Platforms (Facebook)
META
$1.4T
| $318M | 0.13% |
1,906,003
-936,355
| -33% | -$149M |
|
122
CALL
DuPont de Nemours
DD
$18.7B
| $315M | 0.13% |
2,335,445
+871,858
| +60% | +$121M |
|
123
PUT
Applied Materials
AMAT
$391B
| $313M | 0.13% |
7,894,800
-3,600
| -0% | -$137K |
|
124
PUT
Visa
V
$693B
| $312M | 0.13% |
1,994,400
-901,800
| -31% | -$130M |
|
125
PUT
AutoZone
AZO
$48.3B
| $302M | 0.12% |
294,900
-16,300
| -5% | -$14.6M |
|
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.