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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
(+2%)
Cap. Flow
-$47.6M
Cap. Flow
% of AUM
-6.38%
Top 10 Holdings %
Top 10 Hldgs %
60.59%
Holding
186
New
45
Increased
60
Reduced
44
Closed
29
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Costco
COST
|
+$6.94M |
| 2 |
NVIDIA
NVDA
|
+$6.19M |
| 3 |
Zega Buy & Hedge ETF
ZHDG
|
+$2.88M |
| 4 |
State Street Blackstone High Income ETF
HYBL
|
+$2.64M |
| 5 |
Norfolk Southern
NSC
|
+$2.48M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$4.91M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$4.31M |
| 3 |
FT Vest S&P 500 Dividend Aristocrats Target Income ETF
KNG
|
+$3.82M |
| 4 |
JPMorgan Ultra-Short Income ETF
JPST
|
+$3.42M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
176
PGIM Ultra Short Bond ETF
PULS
$18.4B
| – | – |
-59,005
| Closed | -$2.94M |
|
|
SCHV
177
Schwab US Large-Cap Value ETF
SCHV
$16.1B
| – | – |
-107,734
| Closed | -$2.98M |
|
178
State Street SPDR Portfolio S&P 500 High Dividend ETF
SPYD
$7.71B
| – | – |
-33,605
| Closed | -$1.43M |
|
179
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
$36.5B
| – | – |
-4,536
| Closed | -$237K |
|
180
Direxion Daily Technology Bull 3x ETF
TECL
$6.21B
| – | – |
-5,300
| Closed | -$496K |
|
181
State Street Ultra Short Term Bond ETF
ULST
$526M
| – | – |
-41,836
| Closed | -$1.7M |
|
182
United Parcel Service
UPS
$88.9B
| – | – |
-2,036
| Closed | -$206K |
|
183
WisdomTree Managed Futures Strategy Fund
WTMF
$248M
| – | – |
-6,938
| Closed | -$245K |
|
184
State Street Health Care Select Sector SPDR ETF
XLV
$43.3B
| – | – |
-1,530
| Closed | -$206K |
|
|
FEAT
185
DELISTED
YieldMax Dorsey Wright Featured 5 Income ETF
FEAT
| – | – |
-6,333
| Closed | -$237K |
|
|
YFYA
186
Yields for You Income Strategy A ETF
YFYA
$22.2M
| – | – |
-15,697
| Closed | -$155K |
|
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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.