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ZI

ZEGA Investments Portfolio holdings

AUM $973M
1-Year Est. Return 27.27%
This Fund
S&P 500
This Quarter Est. Return
+9.85%
1 Year Est. Return
+27.27%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$747M
AUM Growth
+$14.7M
Cap. Flow
-$47.6M
Cap. Flow %
-6.38%
Top 10 Hldgs %
60.59%
Holding
186
New
45
Increased
60
Reduced
44
Closed
29

Top Buys

Rank Stock Value
1
COST icon
Costco
COST
+$6.94M
2
NVDA icon
NVIDIA
NVDA
+$6.19M
3
ZHDG icon
Zega Buy & Hedge ETF
ZHDG
+$2.88M
4
HYBL icon
State Street Blackstone High Income ETF
HYBL
+$2.64M
5
NSC icon
Norfolk Southern
NSC
+$2.48M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$4.91M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$4.31M
3
KNG icon
FT Vest S&P 500 Dividend Aristocrats Target Income ETF
KNG
+$3.82M
4
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$3.42M
5
GSY icon
Invesco Ultra Short Duration ETF
GSY
+$3.39M

Sector Composition

Rank Sector Weight
1 Technology 17.79%
2 Consumer Discretionary 4.65%
3 Financials 3.64%
4 Healthcare 2.74%
5 Consumer Staples 2.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JPM icon
26
JPMorgan Chase
JPM
$950B
$4.74M 0.63%
15,035
+7,339
+95% +$2.18M
ABBV icon
27
CALL
AbbVie
ABBV
$435B
$4.42M 0.59%
19,100
+7,500
+65% +$1.53M
BIL icon
28
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.7B
$4.2M 0.56%
45,798
+4,662
+11% +$427K
JPM icon
29
CALL
JPMorgan Chase
JPM
$950B
$4.16M 0.56%
+13,200
New +$3.93M
QQQ icon
30
CALL
Invesco QQQ Trust
QQQ
$481B
$3.96M 0.53%
6,600
-1,000
-13% -$573K
GOOG icon
31
Alphabet (Google) Class C
GOOG
$4.32T
$3.75M 0.5%
15,396
-20,515
-57% -$4.31M
UNH icon
32
UnitedHealth
UNH
$370B
$3.68M 0.49%
10,647
-7
-0.1% -$2.12K
V icon
33
Visa
V
$677B
$3.56M 0.48%
10,416
+188
+2% +$65.1K
META icon
34
Meta Platforms (Facebook)
META
$1.51T
$3.23M 0.43%
4,405
-688
-14% -$512K
SPYT icon
35
Defiance S&P 500 Income Target ETF
SPYT
$159M
$3.07M 0.41%
165,984
+6,528
+4% +$119K
GOOGL icon
36
Alphabet (Google) Class A
GOOGL
$4.33T
$2.93M 0.39%
12,039
+4,975
+70% +$1.04M
HD icon
37
Home Depot
HD
$355B
$2.86M 0.38%
7,070
+1,430
+25% +$562K
PLTR icon
38
Palantir
PLTR
$413B
$2.83M 0.38%
15,523
+8,625
+125% +$1.4M
MSTR icon
39
Strategy Inc
MSTR
$38.4B
$2.83M 0.38%
8,769
+3,082
+54% +$1.14M
NSC icon
40
Norfolk Southern
NSC
$75.1B
$2.68M 0.36%
+8,934
New +$2.48M
JEPI icon
41
JPMorgan Equity Premium Income ETF
JEPI
$45.9B
$2.65M 0.36%
46,458
-48,952
-51% -$2.78M
YMAX icon
42
YieldMax Universe Fund of Option Income ETFs
YMAX
$396M
$2.63M 0.35%
205,123
-22,124
-10% -$292K
PLTR icon
43
CALL
Palantir
PLTR
$413B
$2.55M 0.34%
+14,000
New +$2.27M
MCK icon
44
McKesson
MCK
$101B
$2.3M 0.31%
2,974
+4
+0.1% +$2.82K
WMT icon
45
Walmart Inc
WMT
$890B
$2.29M 0.31%
22,226
+12
+0.1% +$1.2K
CAT icon
46
Caterpillar
CAT
$387B
$2M 0.27%
4,184
+2,508
+150% +$1.07M
IVV icon
47
iShares Core S&P 500 ETF
IVV
$904B
$1.98M 0.27%
2,961
-63
-2% -$40.6K
COWG icon
48
Pacer US Large Cap Cash Cows Growth Leaders ETF
COWG
$2.27B
$1.88M 0.25%
51,786
-2,185
-4% -$77.2K
BRK.B icon
49
Berkshire Hathaway Class B
BRK.B
$1.13T
$1.84M 0.25%
3,662
+66
+2% +$32K
AVGO icon
50
Broadcom
AVGO
$2.04T
$1.79M 0.24%
5,426
+3,341
+160% +$1.02M
1
2
3 4 5

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ZEGA Investments's Q3 2025 Portfolio in Review

As of Q3 2025, ZEGA Investments held 186 positions worth $747M, up 2% from $733M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

ZEGA Investments withdrew a net $47.6M in Q3 2025, closing 29 positions and reducing 44 holdings. Its most notable exit was FT Vest S&P 500 Dividend Aristocrats Target Income ETF, an estimated $3.82M position sold in full.

By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 13% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, ZEGA Investments opened a new position in Norfolk Southern worth $2.68M.

  • ZEGA Investments's largest Q3 2025 buy was Norfolk Southern: 8,934 shares worth $2.68M.
  • ZEGA Investments added most to Costco in Q3 2025, an estimated $6.94M increase.
  • ZEGA Investments's biggest Q3 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $4.91M.
  • ZEGA Investments fully exited FT Vest S&P 500 Dividend Aristocrats Target Income ETF in Q3 2025, selling an estimated $3.82M.
  • ZEGA Investments's ten largest holdings make up 61% of its $747M portfolio in Q3 2025.
  • ZEGA Investments opened 45 new positions and closed 29 in Q3 2025.
  • ZEGA Investments's portfolio value rose 2% quarter-over-quarter to $747M.

Based on ZEGA Investments's 13F filing for Q3 2025, filed 27 Oct 2025.