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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
USFR icon
126
WisdomTree Floating Rate Treasury Fund
USFR
$18.4B
$360K 0.05%
7,171
-3,886
-35% -$196K
HON icon
127
Honeywell
HON
$77.2B
$359K 0.05%
1,808
-6,512
-78% -$1.36M
MGC icon
128
Vanguard Morningstar Mega Cap ETF
MGC
$10.4B
$313K 0.04%
1,284
+109
+9% +$25.5K
BIGY
129
YieldMax Target 12 Big 50 Option Income ETF
BIGY
$55.3M
$306K 0.04%
+5,843
New +$297K
BRNY icon
130
Burney US Factor Rotation ETF
BRNY
$601M
$301K 0.04%
+6,219
New +$288K
IWM icon
131
iShares Russell 2000 ETF
IWM
$81.4B
$297K 0.04%
1,228
+35
+3% +$8.03K
MSTY icon
132
YieldMax MSTR Option Income Strategy ETF
MSTY
$756M
$296K 0.04%
4,245
+758
+22% +$68.9K
GDXY
133
YieldMax Gold Miners Option Income Strategy ETF
GDXY
$239M
$290K 0.04%
16,422
+613
+4% +$9.59K
UITB icon
134
Victory Portfolios II VictoryShares Core Intermediate Bond ETF
UITB
$2.65B
$286K 0.04%
6,012
-3,430
-36% -$162K
JCPB icon
135
JPMorgan Core Plus Bond ETF
JCPB
$14.1B
$283K 0.04%
5,943
-3,490
-37% -$164K
IBIT icon
136
iShares Bitcoin Trust
IBIT
$47.5B
$280K 0.04%
4,301
-43,018
-91% -$2.8M
SPYG icon
137
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
$55.2B
$274K 0.04%
2,625
-474
-15% -$47.2K
ITW icon
138
Illinois Tool Works
ITW
$84.1B
$268K 0.04%
+1,029
New +$268K
JPO
139
YieldMax JP Option Income Strategy ETF
JPO
$51.6M
$265K 0.04%
15,307
+3,400
+29% +$57.4K
NVDY icon
140
YieldMax NVDA Option Income Strategy ETF
NVDY
$1.43B
$261K 0.03%
+15,506
New +$262K
MA icon
141
Mastercard
MA
$492B
$254K 0.03%
446
+6
+1% +$3.45K
FDVV icon
142
Fidelity High Dividend ETF
FDVV
$10.4B
$246K 0.03%
4,407
– –
SHEL icon
143
Shell
SHEL
$248B
$229K 0.03%
3,198
+21
+0.7% +$1.51K
YQQQ
144
YieldMax Short N100 Option Income Strategy ETF
YQQQ
$14.9M
$227K 0.03%
17,796
-12,089
-40% -$164K
VNQ icon
145
Vanguard Real Estate ETF
VNQ
$38.5B
$224K 0.03%
2,448
-554
-18% -$50.3K
VOO icon
146
Vanguard S&P 500 ETF
VOO
$1.03T
$220K 0.03%
359
-92
-20% -$54.2K
GPTY
147
YieldMax AI & Tech Portfolio Option Income ETF
GPTY
$107M
$217K 0.03%
+4,639
New +$214K
ARM icon
148
Arm
ARM
$289B
$215K 0.03%
+1,520
New +$221K
TSLY icon
149
YieldMax TSLA Option Income Strategy ETF
TSLY
$663M
$193K 0.03%
4,101
-98
-2% -$3.95K
CDE icon
150
Coeur Mining
CDE
$18.4B
$189K 0.03%
10,100
– –
4 5
6
7 8

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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.