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 | |
|---|---|---|---|---|---|---|
126
CALL
State Street Technology Select Sector SPDR ETF
XLK
$120B
| $523M | 0.11% |
6,013,800
-504,000
| -8% | -$39.7M |
|
127
CALL
ASML
ASML
$677B
| $523M | 0.11% |
721,200
+64,300
| +10% | +$43.7M |
|
128
PUT
PayPal
PYPL
$52.7B
| $520M | 0.11% |
7,788,800
+569,900
| +8% | +$38.9M |
|
129
PUT
SPDR Gold Trust
GLD
$152B
| $519M | 0.11% |
2,910,100
-260,000
| -8% | -$47.8M |
|
130
PUT
Visa
V
$693B
| $512M | 0.1% |
2,155,200
-497,600
| -19% | -$114M |
|
131
CALL
Target
TGT
$75.1B
| $504M | 0.1% |
3,819,600
+1,079,200
| +39% | +$160M |
|
132
CALL
AbbVie
ABBV
$468B
| $501M | 0.1% |
3,715,100
-194,100
| -5% | -$28.5M |
|
133
PUT
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $500M | 0.1% |
14,831,300
-3,004,300
| -17% | -$98.1M |
|
134
CALL
Occidental Petroleum
OXY
$61.3B
| $500M | 0.1% |
8,497,100
-887,100
| -9% | -$53.2M |
|
135
CALL
Morgan Stanley
MS
$336B
| $499M | 0.1% |
5,838,000
-453,700
| -7% | -$38.8M |
|
136
Booking.com
BKNG
$158B
| $493M | 0.1% |
4,568,100
-3,534,750
| -44% | -$374M |
|
137
CALL
State Street Energy Select Sector SPDR ETF
XLE
$41.7B
| $489M | 0.1% |
12,046,800
-6,239,000
| -34% | -$254M |
|
138
CALL
Bank of America
BAC
$431B
| $488M | 0.1% |
17,024,800
-6,788,500
| -29% | -$194M |
|
139
PUT
Ulta Beauty
ULTA
$22.4B
| $486M | 0.1% |
1,033,700
+158,400
| +18% | +$77.6M |
|
140
CALL
Verizon
VZ
$205B
| $486M | 0.1% |
13,079,900
+4,681,900
| +56% | +$173M |
|
141
CALL
McDonald's
MCD
$192B
| $485M | 0.1% |
1,623,800
-525,200
| -24% | -$153M |
|
142
CALL
VanEck Semiconductor ETF
SMH
$68.6B
| $478M | 0.1% |
3,137,000
-958,400
| -23% | -$130M |
|
143
PUT
Chevron
CVX
$403B
| $475M | 0.1% |
3,017,900
+143,700
| +5% | +$23M |
|
144
CALL
Snowflake
SNOW
$115B
| $474M | 0.1% |
2,690,900
-773,500
| -22% | -$126M |
|
|
145
CALL
State Street Financial Select Sector SPDR ETF
XLF
$57.8B
| $473M | 0.1% |
14,041,100
+1,252,700
| +10% | +$40.9M |
|
|
146
PUT
Occidental Petroleum
OXY
$61.3B
| $473M | 0.1% |
8,044,500
+1,358,900
| +20% | +$81.5M |
|
147
PUT
Uber
UBER
$161B
| $473M | 0.1% |
10,947,800
+230,600
| +2% | +$8.57M |
|
148
PUT
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.4B
| $471M | 0.1% |
5,551,200
+1,774,800
| +47% | +$136M |
|
149
CALL
Qualcomm
QCOM
$169B
| $467M | 0.09% |
3,919,600
+140,100
| +4% | +$16.1M |
|
150
CALL
Airbnb
ABNB
$110B
| $463M | 0.09% |
3,611,500
+455,100
| +14% | +$53.2M |
|
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.