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 | |
|---|---|---|---|---|---|---|
101
CALL
Procter & Gamble
PG
$336B
| $621M | 0.13% |
4,090,300
-449,200
| -10% | -$67.7M |
|
102
Bank of America
BAC
$431B
| $607M | 0.12% |
21,153,548
+1,932,606
| +10% | +$55.1M |
|
103
CALL
VanEck Gold Miners ETF
GDX
$31.8B
| $606M | 0.12% |
20,112,300
-201,500
| -1% | -$6.57M |
|
104
CALL
ProShares UltraPro QQQ
TQQQ
$35.7B
| $605M | 0.12% |
29,515,800
+684,800
| +2% | +$11M |
|
105
CALL
iShares MSCI Brazil ETF
EWZ
$8.52B
| $603M | 0.12% |
18,589,400
+537,800
| +3% | +$16M |
|
106
PUT
Micron Technology
MU
$1.09T
| $597M | 0.12% |
9,456,000
+731,300
| +8% | +$47M |
|
107
PUT
Regeneron Pharmaceuticals
REGN
$85.9B
| $594M | 0.12% |
827,200
-193,100
| -19% | -$149M |
|
108
CALL
Chevron
CVX
$403B
| $586M | 0.12% |
3,722,200
-904,200
| -20% | -$145M |
|
109
CALL
Walmart Inc
WMT
$825B
| $582M | 0.12% |
11,100,300
-7,108,200
| -39% | -$359M |
|
110
PUT
Mastercard
MA
$509B
| $580M | 0.12% |
1,475,100
-91,600
| -6% | -$34.4M |
|
111
PUT
Salesforce
CRM
$171B
| $578M | 0.12% |
2,737,700
-1,835,400
| -40% | -$375M |
|
112
CALL
PayPal
PYPL
$52.7B
| $566M | 0.12% |
8,489,400
+2,607,400
| +44% | +$178M |
|
113
CALL
iShares Silver Trust
SLV
$33.8B
| $563M | 0.11% |
26,929,200
+7,717,100
| +40% | +$172M |
|
|
114
PUT
VanEck Gold Miners ETF
GDX
$31.8B
| $561M | 0.11% |
18,644,300
+7,631,700
| +69% | +$249M |
|
115
PUT
Shopify
SHOP
$192B
| $560M | 0.11% |
8,670,600
+321,200
| +4% | +$18.2M |
|
116
PUT
McDonald's
MCD
$192B
| $556M | 0.11% |
1,864,600
+81,800
| +5% | +$23.8M |
|
|
117
CALL
Mastercard
MA
$509B
| $555M | 0.11% |
1,411,100
-708,200
| -33% | -$266M |
|
118
CALL
Mercado Libre
MELI
$97.5B
| $551M | 0.11% |
465,400
-78,100
| -14% | -$98.2M |
|
119
PUT
TSMC
TSM
$2.17T
| $550M | 0.11% |
5,454,000
-2,267,600
| -29% | -$211M |
|
120
CALL
Intel
INTC
$476B
| $544M | 0.11% |
16,258,900
-3,292,400
| -17% | -$103M |
|
121
PUT
Nike
NKE
$60.5B
| $541M | 0.11% |
4,897,600
+2,232,900
| +84% | +$261M |
|
|
122
PUT
iShares MSCI Brazil ETF
EWZ
$8.52B
| $539M | 0.11% |
16,607,400
-4,182,000
| -20% | -$124M |
|
123
PUT
Lam Research
LRCX
$393B
| $537M | 0.11% |
8,350,000
-2,545,000
| -23% | -$143M |
|
|
124
CALL
Lam Research
LRCX
$393B
| $534M | 0.11% |
8,307,000
-1,009,000
| -11% | -$56.9M |
|
125
CALL
IBM
IBM
$222B
| $525M | 0.11% |
3,922,500
-390,900
| -9% | -$50.4M |
|
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.