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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
WMT icon
51
CALL
Walmart Inc
WMT
$890B
$1.66M 0.22%
16,100
– –
HOOD icon
52
Robinhood
HOOD
$83.9B
$1.65M 0.22%
11,551
+9,330
+420% +$1.02M
GLDM icon
53
SPDR Gold MiniShares Trust
GLDM
$29.7B
$1.65M 0.22%
+21,609
New +$1.48M
EMR icon
54
Emerson Electric
EMR
$88.3B
$1.58M 0.21%
+12,059
New +$1.64M
USB icon
55
US Bancorp
USB
$99.6B
$1.58M 0.21%
32,604
-851
-3% -$40.2K
SPTI icon
56
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$1.54M 0.21%
53,448
+41,857
+361% +$1.2M
USB icon
57
CALL
US Bancorp
USB
$99.6B
$1.54M 0.21%
31,900
-1,000
-3% -$47.3K
HOOD icon
58
CALL
Robinhood
HOOD
$83.9B
$1.52M 0.2%
+10,600
New +$1.16M
MAR icon
59
Marriott International
MAR
$92.3B
$1.48M 0.2%
5,692
+3,984
+233% +$1.07M
PH icon
60
Parker-Hannifin
PH
$135B
$1.44M 0.19%
+1,900
New +$1.4M
CRWD icon
61
CrowdStrike
CRWD
$218B
$1.36M 0.18%
+11,068
New +$1.26M
ANET icon
62
Arista Networks
ANET
$238B
$1.32M 0.18%
9,079
+5,187
+133% +$668K
NFLX icon
63
Netflix
NFLX
$309B
$1.31M 0.18%
10,930
-3,940
-26% -$481K
KMI icon
64
Kinder Morgan
KMI
$68.7B
$1.26M 0.17%
44,467
-134
-0.3% -$3.67K
ORCL icon
65
Oracle
ORCL
$423B
$1.26M 0.17%
+4,471
New +$1.14M
AMD icon
66
Advanced Micro Devices
AMD
$789B
$1.21M 0.16%
+7,484
New +$1.21M
PANW icon
67
Palo Alto Networks
PANW
$297B
$1.19M 0.16%
5,846
-4,875
-45% -$933K
SYK icon
68
Stryker
SYK
$130B
$1.19M 0.16%
3,213
+1
+0% +$386
LRCX icon
69
Lam Research
LRCX
$390B
$1.17M 0.16%
+8,765
New +$928K
SPYM
70
State Street SPDR Portfolio S&P 500 ETF
SPYM
$169B
$1.17M 0.16%
14,977
+297
+2% +$22.4K
JNJ icon
71
Johnson & Johnson
JNJ
$625B
$1.17M 0.16%
6,320
+38
+0.6% +$6.51K
PWR icon
72
Quanta Services
PWR
$101B
$1.16M 0.16%
2,798
-1,420
-34% -$552K
PEP icon
73
PepsiCo
PEP
$190B
$1.15M 0.15%
8,190
+13
+0.2% +$1.86K
KO icon
74
Coca-Cola
KO
$375B
$1.15M 0.15%
17,318
+223
+1% +$15.3K
KLAC icon
75
KLA
KLAC
$259B
$1.13M 0.15%
+10,500
New +$980K
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.