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ZEGA Investments Portfolio holdings
AUM
$917M
Turnover
32.46%
1-Year Est. Return
21.57%
This Fund
S&P 500
This Quarter Est. Return
+4.93%
1 Year Est. Return
+21.57%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$917M
AUM Growth
-$56.1M
(-5.8%)
Cap. Flow
-$89.9M
Cap. Flow % of AUM
Cap. Flow %
-9.81%
Top 10 Holdings %
Top 10 Hldgs %
56.1%
Holding
382
New
48
Increased
46
Reduced
163
Closed
76
Avg Time Held
Equity + Options
0.7
years
Top 10 Avg Time Held
Equity + Options
1.1
years
Top 20 Avg Time Held
Equity + Options
1.3
years
Avg Time Held Equity only
0.9
years
Top 10 Avg Time Held Equity only
1.4
years
Top 20 Avg Time Held Equity only
1.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Caterpillar
CAT
|
+$8.87M |
| 2 |
NVIDIA
NVDA
|
+$6.62M |
| 3 |
Costco
COST
|
+$5.29M |
| 4 |
Micron Technology
MU
|
+$5.2M |
| 5 |
Seagate
STX
|
+$2.55M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$13.9M |
| 2 |
Apple
AAPL
|
+$11M |
| 3 |
Meta Platforms (Facebook)
META
|
+$6.97M |
| 4 |
Zega Buy & Hedge ETF
ZHDG
|
+$6.95M |
| 5 |
Amazon
AMZN
|
+$6.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 60.57% |
| 2 | Technology | 21.66% |
| 3 | Consumer Staples | 4.01% |
| 4 | Consumer Discretionary | 3.69% |
| 5 | Industrials | 2.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$5.13T
| $96.8M | 10.55% |
290,614
-34,384
| -11% | -$11M |
2024 Q4
7 quarters
|
|
|
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$811B
| $95.5M | 10.41% |
125,200
-14,700
| -11% | -$11.2M |
2024 Q4
7 quarters
|
|
|
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$811B
| $59.9M | 6.54% |
78,600
-29,900
| -28% | -$22.7M |
2024 Q4
7 quarters
|
|
4
State Street Blackstone High Income ETF
HYBL
$584M
| $51.6M | 5.62% |
1,870,111
-63,266
| -3% | -$1.77M |
2024 Q4
7 quarters
|
|
|
5
NVIDIA
NVDA
$4.95T
| $48.1M | 5.25% |
210,642
+30,859
| +17% | +$6.62M |
2024 Q4
7 quarters
|
|
|
6
CALL
NVIDIA
NVDA
$4.95T
| $38.7M | 4.22% |
169,400
+67,600
| +66% | +$14.5M |
2025 Q1
6 quarters
|
|
|
7
State Street SPDR S&P 500 ETF Trust
SPY
$811B
| $35.5M | 3.87% |
46,486
-18,310
| -28% | -$13.9M |
2024 Q4
7 quarters
|
|
|
8
CALL
Apple
AAPL
$5.13T
| $35.1M | 3.83% |
105,500
-8,800
| -8% | -$2.83M |
2024 Q4
7 quarters
|
|
|
9
Costco
COST
$460B
| $29.2M | 3.18% |
32,023
+5,665
| +21% | +$5.29M |
2024 Q4
7 quarters
|
|
|
10
CALL
Costco
COST
$460B
| $24.1M | 2.63% |
26,500
+5,000
| +23% | +$4.67M |
2025 Q4
3 quarters
|
|
|
11
Micron Technology
MU
$943B
| $17.3M | 1.88% |
16,222
+5,472
| +51% | +$5.2M |
2026 Q1
2 quarters
|
|
|
12
Zega Buy & Hedge ETF
ZHDG
$30.9M
| $17M | 1.85% |
710,690
-292,182
| -29% | -$6.95M |
2024 Q4
7 quarters
|
|
|
13
Amazon
AMZN
$2.92T
| $15.8M | 1.73% |
63,572
-24,995
| -28% | -$6.35M |
2024 Q4
7 quarters
|
|
14
Microsoft
MSFT
$4.12T
| $15.6M | 1.7% |
30,376
-7,773
| -20% | -$3.59M |
2024 Q4
7 quarters
|
|
15
ExxonMobil
XOM
$701B
| $11.5M | 1.26% |
70,912
-278
| -0.4% | -$43.5K |
2024 Q4
7 quarters
|
|
16
Tesla
TSLA
$1.53T
| $11.4M | 1.25% |
32,260
-5,192
| -14% | -$1.86M |
2024 Q4
7 quarters
|
|
|
17
Caterpillar
CAT
$272B
| $11.3M | 1.23% |
13,902
+10,453
| +303% | +$8.87M |
2024 Q4
7 quarters
|
|
|
18
CALL
ExxonMobil
XOM
$701B
| $10.5M | 1.14% |
+64,400
| New | +$10.1M |
2026 Q3
0 quarters
|
|
|
19
CALL
Amazon
AMZN
$2.92T
| $9.37M | 1.02% |
37,600
-10,900
| -22% | -$2.77M |
2024 Q4
7 quarters
|
|
20
PUT
Invesco QQQ Trust
QQQ
$472B
| $8.29M | 0.9% |
11,200
-2,200
| -16% | -$1.57M |
2024 Q4
7 quarters
|
|
21
State Street SPDR Bloomberg Short Term High Yield Bond ETF
SJNK
$4.35B
| $7.62M | 0.83% |
314,270
-18,996
| -6% | -$471K |
2024 Q4
7 quarters
|
|
22
State Street Blackstone Senior Loan ETF
SRLN
$5.17B
| $7.62M | 0.83% |
188,627
-11,194
| -6% | -$453K |
2024 Q4
7 quarters
|
|
|
23
CALL
Microsoft
MSFT
$4.12T
| $7.59M | 0.83% |
14,800
-1,400
| -9% | -$647K |
2025 Q3
4 quarters
|
|
24
Eli Lilly
LLY
$1.26T
| $7.5M | 0.82% |
6,486
-149
| -2% | -$176K |
2024 Q4
7 quarters
|
|
25
Aflac
AFL
$62.1B
| $7.09M | 0.77% |
63,438
-4,649
| -7% | -$557K |
2024 Q4
7 quarters
|
|
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KWMG
ZEGA Investments's Q3 2026 Portfolio in Review
As of Q3 2026, ZEGA Investments held 382 positions worth $917M, down 5.8% from $973M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
ZEGA Investments withdrew a net $89.9M in Q3 2026, closing 76 positions and reducing 163 holdings. Its most notable exit was Fundstrat Granny Shots US Small & Mid-Cap ETF, an estimated $2.56M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 61% of assets, down from 61% a quarter earlier, followed by Technology and Consumer Staples.
Against the trend, ZEGA Investments opened a new position in Seagate worth $2.75M.
- ZEGA Investments's largest Q3 2026 buy was Seagate: 2,982 shares worth $2.75M.
- ZEGA Investments added most to Caterpillar in Q3 2026, an estimated $8.87M increase.
- ZEGA Investments's biggest Q3 2026 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $13.9M.
- ZEGA Investments fully exited Fundstrat Granny Shots US Small & Mid-Cap ETF in Q3 2026, selling an estimated $2.56M.
- ZEGA Investments's ten largest holdings make up 56% of its $917M portfolio in Q3 2026.
- ZEGA Investments opened 48 new positions and closed 76 in Q3 2026.
- ZEGA Investments's portfolio value fell 5.8% quarter-over-quarter to $917M.
Based on ZEGA Investments's 13F filing for Q3 2026, filed 4 Nov 2026.