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 | |
|---|---|---|---|---|---|---|
|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $33.5B | 6.82% |
75,620,900
-10,662,300
| -12% | -$4.47B |
|
|
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $22.7B | 4.62% |
51,291,200
-21,148,000
| -29% | -$8.88B |
|
3
CALL
Tesla
TSLA
$1.43T
| $17.2B | 3.51% |
65,848,400
-6,447,700
| -9% | -$1.29B |
|
|
4
PUT
Tesla
TSLA
$1.43T
| $14.4B | 2.93% |
55,108,500
+1,076,600
| +2% | +$215M |
|
|
5
PUT
Invesco QQQ Trust
QQQ
$486B
| $14.4B | 2.92% |
38,918,100
+4,547,900
| +13% | +$1.53B |
|
|
6
PUT
NVIDIA
NVDA
$5.2T
| $10.9B | 2.22% |
258,280,000
+112,672,000
| +77% | +$3.74B |
|
|
7
CALL
Invesco QQQ Trust
QQQ
$486B
| $9.79B | 1.99% |
26,509,100
-3,305,700
| -11% | -$1.11B |
|
|
8
CALL
Apple
AAPL
$4.51T
| $9.53B | 1.94% |
49,144,100
+2,478,200
| +5% | +$432M |
|
|
9
CALL
NVIDIA
NVDA
$5.2T
| $8.36B | 1.7% |
197,692,000
+31,912,000
| +19% | +$1.06B |
|
|
10
PUT
iShares Russell 2000 ETF
IWM
$81.9B
| $6.84B | 1.39% |
36,549,400
-16,609,600
| -31% | -$2.96B |
|
|
11
PUT
Apple
AAPL
$4.51T
| $6.5B | 1.32% |
33,490,200
+663,800
| +2% | +$116M |
|
12
CALL
Amazon
AMZN
$2.79T
| $6.37B | 1.3% |
48,879,800
-11,462,500
| -19% | -$1.31B |
|
|
13
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $6.3B | 1.28% |
14,216,148
-4,128,540
| -23% | -$1.73B |
|
|
14
CALL
Microsoft
MSFT
$3.59T
| $5.98B | 1.22% |
17,559,800
-3,319,500
| -16% | -$1.04B |
|
|
15
PUT
Amazon
AMZN
$2.79T
| $5.59B | 1.14% |
42,889,800
+2,630,700
| +7% | +$300M |
|
|
16
PUT
Microsoft
MSFT
$3.59T
| $5.3B | 1.08% |
15,562,900
+1,972,300
| +15% | +$618M |
|
17
CALL
Meta Platforms (Facebook)
META
$1.4T
| $5.1B | 1.04% |
17,757,400
-1,814,400
| -9% | -$448M |
|
|
18
PUT
Meta Platforms (Facebook)
META
$1.4T
| $3.37B | 0.69% |
11,742,200
+920,000
| +9% | +$227M |
|
|
19
NVIDIA
NVDA
$5.2T
| $3.03B | 0.62% |
71,658,020
+54,012,040
| +306% | +$1.79B |
|
20
PUT
Alphabet (Google) Class A
GOOGL
$4.22T
| $3B | 0.61% |
25,080,800
+6,089,200
| +32% | +$701M |
|
|
21
CALL
iShares Russell 2000 ETF
IWM
$81.9B
| $2.98B | 0.61% |
15,925,800
+1,279,400
| +9% | +$228M |
|
|
22
CALL
Alphabet (Google) Class C
GOOG
$4.18T
| $2.61B | 0.53% |
21,608,200
+1,378,500
| +7% | +$160M |
|
23
PUT
Netflix
NFLX
$331B
| $2.56B | 0.52% |
58,054,000
+304,000
| +0.5% | +$11.2M |
|
|
24
CALL
Netflix
NFLX
$331B
| $2.53B | 0.51% |
57,420,000
+2,284,000
| +4% | +$84.1M |
|
|
25
Microsoft
MSFT
$3.59T
| $2.45B | 0.5% |
7,202,893
+1,742,377
| +32% | +$546M |
|
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.