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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
GRMN
76
Garmin
GRMN
$60B
$1.12M 0.15%
+4,553
New +$1.05M
GE icon
77
GE Aerospace
GE
$384B
$1.09M 0.15%
+3,621
New +$990K
QQQM icon
78
Invesco NASDAQ 100 ETF
QQQM
$102B
$1.08M 0.14%
+4,373
New +$1.03M
CDNS icon
79
Cadence Design Systems
CDNS
$93.4B
$1.08M 0.14%
+3,076
New +$1.06M
AXP icon
80
American Express
AXP
$230B
$1.08M 0.14%
+3,252
New +$1.03M
GEV icon
81
GE Vernova
GEV
$264B
$1.06M 0.14%
1,722
-1,405
-45% -$851K
GS icon
82
Goldman Sachs
GS
$303B
$1.05M 0.14%
1,319
-1,198
-48% -$888K
BNY
83
Bank of New York Mellon
BNY
$107B
$1.05M 0.14%
+9,640
New +$983K
PCAR icon
84
PACCAR
PCAR
$70.1B
$1.03M 0.14%
10,500
– –
INTU icon
85
Intuit
INTU
$89B
$1.03M 0.14%
1,505
-1,300
-46% -$937K
ETN icon
86
Eaton
ETN
$174B
$1.02M 0.14%
+2,722
New +$990K
AXON
87
Axon Enterprise
AXON
$46.4B
$998K 0.13%
+1,391
New +$1.06M
MNST icon
88
Monster Beverage
MNST
$88.5B
$992K 0.13%
+14,738
New +$920K
WTW icon
89
Willis Towers Watson
WTW
$32B
$985K 0.13%
+2,850
New +$923K
QQQT
90
Defiance Nasdaq 100 Income Target ETF
QQQT
$49.4M
$983K 0.13%
52,937
-1,049
-2% -$19K
EXPE icon
91
Expedia Group
EXPE
$37.3B
$969K 0.13%
+4,533
New +$910K
VUG icon
92
Vanguard Morningstar Growth ETF
VUG
$230B
$941K 0.13%
11,772
-36
-0.3% -$2.75K
VTI icon
93
Vanguard Morningstar Total Stock Market ETF
VTI
$691B
$924K 0.12%
2,815
+176
+7% +$55.6K
VYM icon
94
Vanguard High Dividend Yield ETF
VYM
$83.5B
$922K 0.12%
+6,538
New +$898K
SBUX icon
95
Starbucks
SBUX
$120B
$917K 0.12%
10,842
+80
+0.7% +$7.16K
MCD icon
96
McDonald's
MCD
$195B
$897K 0.12%
2,952
+1,448
+96% +$441K
LYV icon
97
Live Nation Entertainment
LYV
$42.1B
$889K 0.12%
+5,439
New +$860K
VST icon
98
Vistra
VST
$47.4B
$871K 0.12%
+4,446
New +$881K
SPGI icon
99
S&P Global
SPGI
$120B
$835K 0.11%
+1,715
New +$918K
PG icon
100
Procter & Gamble
PG
$339B
$829K 0.11%
5,398
+982
+22% +$153K
2 3
4
5 6

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LOIM
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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.