Q2 2025 · 13F-HR
ZEGA Investments, LLCholdings as filed
Filed 2025-08-06 · accession 0001172661-25-002913
$732.6M
Reported value
141
Positions
2025-06-30
Period end
The Brief · ZEGA Investments, LLC · Q2 2025
AI · grounded in 13F
ZEGA Investments, LLC established a new position in SPY valued at $282.3M. The fund also initiated new stakes in AAPL for $93.4M and AMZN for $36.3M. Other new additions include HYBL at $33.9M, NVDA at $20.9M, and MSFT at $15.4M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $128.8M | 17.6% | 208,500 | PUT | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $111.6M | 15.2% | 180,700 | CALL | NONE |
| 037833100 | AAPL | APPLE INC | $54.2M | 7.40% | 264,275 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $41.8M | 5.71% | 67,716 | Common | NONE |
| 78470P846 | HYBL | SSGA ACTIVE TR | $33.9M | 4.63% | 1,187,291 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $30.8M | 4.20% | 149,900 | CALL | NONE |
| 023135106 | AMZN | AMAZON COM INC | $18.6M | 2.54% | 84,789 | Common | NONE |
| 023135106 | AMZN | AMAZON COM INC | $17.7M | 2.42% | 80,700 | CALL | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $15.4M | 2.10% | 30,970 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $15.3M | 2.09% | 96,949 | Common | NONE |
| 78468R408 | SJNK | SPDR SERIES TRUST | $15.3M | 2.09% | 600,900 | Common | NONE |
| 78467V608 | SRLN | SSGA ACTIVE ETF TR | $14.6M | 2.00% | 351,761 | Common | NONE |
| 886364660 | ZHDG | TIDAL TRUST I | $13.8M | 1.88% | 647,649 | Common | NONE |
| 88160R101 | TSLA | TESLA INC | $8.5M | 1.15% | 26,632 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $8.4M | 1.15% | 41,000 | PUT | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $7.6M | 1.04% | 70,714 | Common | NONE |
| 001055102 | AFL | AFLAC INC | $7.2M | 0.98% | 67,859 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $6.6M | 0.90% | 61,100 | CALL | NONE |
| 02079K107 | GOOG | ALPHABET INC | $6.4M | 0.87% | 35,911 | Common | NONE |
| 001055102 | AFL | AFLAC INC | $6.3M | 0.86% | 59,400 | CALL | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $5.8M | 0.79% | 10,500 | PUT | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $5.5M | 0.76% | 35,100 | CALL | NONE |
| 46641Q332 | JEPI | J P MORGAN EXCHANGE TRADED F | $5.4M | 0.74% | 95,410 | Common | NONE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $5.3M | 0.72% | 5,363 | Common | NONE |
| 532457108 | LLY | ELI LILLY & CO | $5.0M | 0.69% | 6,476 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $4.2M | 0.57% | 7,600 | CALL | NONE |
| 33739Q705 | KNG | FIRST TR EXCHANGE-TRADED FD | $3.8M | 0.52% | 77,773 | Common | NONE |
| 46641Q837 | JPST | J P MORGAN EXCHANGE TRADED F | $3.8M | 0.52% | 74,979 | Common | NONE |
| 78468R663 | BIL | SPDR SERIES TRUST | $3.8M | 0.52% | 41,136 | Common | NONE |
| 30303M102 | META | META PLATFORMS INC | $3.8M | 0.51% | 5,093 | Common | NONE |
| 92826C839 | V | VISA INC | $3.6M | 0.50% | 10,228 | Common | NONE |
| 46090A887 | GSY | INVESCO ACTIVELY MANAGED EXC | $3.4M | 0.46% | 67,643 | Common | NONE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $3.3M | 0.45% | 10,654 | Common | NONE |
| 88636J659 | YMAX | TIDAL TR II | $3.1M | 0.43% | 227,247 | Common | NONE |
| 33739Q408 | FTSM | FIRST TR EXCHANGE-TRADED FD | $3.0M | 0.41% | 49,935 | Common | NONE |
| 808524409 | SCHV | SCHWAB STRATEGIC TR | $3.0M | 0.41% | 107,734 | Common | NONE |
| 69344A107 | PULS | PGIM ETF TR | $2.9M | 0.40% | 59,005 | Common | NONE |
| 88636J568 | SPYT | TIDAL TR II | $2.9M | 0.40% | 159,456 | Common | NONE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $2.9M | 0.40% | 47,319 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $2.7M | 0.36% | 14,359 | Common | NONE |
| 46654Q203 | JEPQ | J P MORGAN EXCHANGE TRADED F | $2.4M | 0.33% | 44,351 | Common | NONE |
| 594972408 | MSTR | MICROSTRATEGY INC | $2.3M | 0.31% | 5,687 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $2.2M | 0.30% | 7,696 | Common | NONE |
| 461202103 | INTU | INTUIT | $2.2M | 0.30% | 2,805 | Common | NONE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $2.2M | 0.30% | 10,721 | Common | NONE |
| 58155Q103 | MCK | MCKESSON CORP | $2.2M | 0.30% | 2,970 | Common | NONE |
| 931142103 | WMT | WALMART INC | $2.2M | 0.30% | 22,214 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $2.2M | 0.29% | 11,600 | CALL | NONE |
| 437076102 | HD | HOME DEPOT INC | $2.1M | 0.28% | 5,640 | Common | NONE |
| 64110L106 | NFLX | NETFLIX INC | $2.0M | 0.27% | 1,487 | Common | NONE |
| 69374H360 | COWG | PACER FDS TR | $1.9M | 0.26% | 53,971 | Common | NONE |
| 464287200 | IVV | ISHARES TR | $1.9M | 0.26% | 3,024 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD TR | $1.8M | 0.25% | 6,025 | Common | NONE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $1.8M | 0.25% | 3,363 | Common | NONE |
| 438516106 | HON | HONEYWELL INTL INC | $1.8M | 0.25% | 7,842 | Common | NONE |
| 38141G104 | GS | GOLDMAN SACHS GROUP INC | $1.8M | 0.24% | 2,517 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.7M | 0.24% | 3,596 | Common | NONE |
| 78467V707 | ULST | SSGA ACTIVE ETF TR | $1.7M | 0.23% | 41,836 | Common | NONE |
| 46434V878 | ICSH | ISHARES TR | $1.7M | 0.23% | 32,653 | Common | NONE |
| 36828A101 | GEV | GE VERNOVA INC | $1.7M | 0.23% | 3,127 | Common | NONE |
| 381430230 | GSST | GOLDMAN SACHS ETF TR | $1.7M | 0.23% | 32,656 | Common | NONE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $1.6M | 0.22% | 26,900 | CALL | NONE |
| 33740U729 | BUFZ | FIRST TR EXCHNG TRADED FD VI | $1.6M | 0.22% | 64,541 | Common | NONE |
| 74762E102 | QURE | QUANTA SVCS INC | $1.6M | 0.22% | 4,218 | Common | NONE |
| 931142103 | WMT | WALMART INC | $1.6M | 0.21% | 16,100 | CALL | NONE |
| 902973304 | USB | US BANCORP DEL | $1.5M | 0.21% | 33,455 | Common | NONE |
| 902973304 | USB | US BANCORP DEL | $1.5M | 0.20% | 32,900 | CALL | NONE |
| 743315103 | PGR | PROGRESSIVE CORP | $1.4M | 0.20% | 5,431 | Common | NONE |
| 78468R788 | SPYD | SPDR SERIES TRUST | $1.4M | 0.19% | 33,605 | Common | NONE |
| 464288257 | ACWI | ISHARES TR | $1.4M | 0.19% | 10,900 | CALL | NONE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $1.3M | 0.18% | 44,601 | Common | NONE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $1.3M | 0.17% | 9,270 | Common | NONE |
| 863667101 | SYK | STRYKER CORPORATION | $1.3M | 0.17% | 3,212 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $1.2M | 0.17% | 7,064 | Common | NONE |
| 191216100 | KO | COCA COLA CO | $1.2M | 0.17% | 17,095 | Common | NONE |
| 09661T859 | BKUI | BNY MELLON ETF TRUST | $1.2M | 0.16% | 24,220 | Common | NONE |
| 713448108 | PEP | PEPSICO INC | $1.1M | 0.15% | 8,177 | Common | NONE |
| 78464A854 | SPYM | SPDR SERIES TRUST | $1.1M | 0.15% | 14,680 | Common | NONE |
| 693718108 | PCAR | PACCAR INC | $998,130 | 0.14% | 10,500 | Common | NONE |
| 855244109 | SBUX | STARBUCKS CORP | $986,080 | 0.13% | 10,762 | Common | NONE |
| 88636J576 | QQQT | TIDAL TR II | $979,303 | 0.13% | 53,986 | Common | NONE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $959,608 | 0.13% | 6,282 | Common | NONE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $940,335 | 0.13% | 6,898 | Common | NONE |
| 922908736 | VUG | VANGUARD INDEX FDS | $862,668 | 0.12% | 1,968 | Common | NONE |
| 00724F101 | ADBE | ADOBE INC | $817,864 | 0.11% | 2,114 | Common | NONE |
| 922908769 | VTI | VANGUARD INDEX FDS | $802,071 | 0.11% | 2,639 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $761,615 | 0.10% | 24,560 | Common | NONE |
| 464287150 | ITOT | ISHARES TR | $723,843 | 0.10% | 5,360 | Common | NONE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $703,557 | 0.10% | 4,416 | Common | NONE |
| 375558103 | GILD | GILEAD SCIENCES INC | $677,065 | 0.09% | 6,107 | Common | NONE |
| 149123101 | CAT | CATERPILLAR INC | $650,640 | 0.09% | 1,676 | Common | NONE |
| 81762P102 | NOW | SERVICENOW INC | $637,410 | 0.09% | 620 | Common | NONE |
| 501044101 | KR | KROGER CO | $634,835 | 0.09% | 8,850 | Common | NONE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $610,755 | 0.08% | 7,623 | Common | NONE |
| 88636R818 | SOXY | TIDAL TR II | $582,751 | 0.08% | 11,090 | Common | NONE |
| 11135F101 | AVGO | BROADCOM INC | $574,772 | 0.08% | 2,085 | Common | NONE |
| 97717Y527 | USFR | WISDOMTREE TR | $556,278 | 0.08% | 11,057 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $553,380 | 0.08% | 1,003 | Common | NONE |
| 002824100 | ABT | ABBOTT LABS | $553,017 | 0.08% | 4,066 | Common | NONE |
| 132061201 | SYLD | CAMBRIA ETF TR | $531,315 | 0.07% | 8,170 | Common | NONE |
| 25459W102 | TECL | DIREXION SHS ETF TR | $495,974 | 0.07% | 5,300 | Common | NONE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $466,540 | 0.06% | 1,708 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $452,505 | 0.06% | 4,850 | Common | NONE |
| 92647N527 | UITB | VICTORY PORTFOLIOS II | $444,435 | 0.06% | 9,442 | Common | NONE |
| 46641Q670 | JCPB | J P MORGAN EXCHANGE TRADED F | $443,917 | 0.06% | 9,433 | Common | NONE |
| 580135101 | MCD | MCDONALDS CORP | $439,424 | 0.06% | 1,504 | Common | NONE |
| 46090F100 | PDBC | INVESCO ACTVELY MNGD ETC FD | $436,183 | 0.06% | 33,450 | Common | NONE |
| 465741106 | ITRI | ITRON INC | $426,744 | 0.06% | 3,242 | Common | NONE |
| 88636J451 | YQQQ | TIDAL TR II | $425,260 | 0.06% | 29,885 | Common | NONE |
| 88636J162 | GIAX | TIDAL TR II | $411,077 | 0.06% | 23,212 | Common | NONE |
| 040413205 | ANET | ARISTA NETWORKS INC | $398,191 | 0.05% | 3,892 | Common | NONE |
| 88634T493 | — | TIDAL TR II | $386,540 | 0.05% | 17,435 | Common | NONE |
| 88636R560 | SDTY | TIDAL TR II | $381,167 | 0.05% | 8,463 | Common | NONE |
| 166764100 | CVX | CHEVRON CORP NEW | $361,641 | 0.05% | 2,526 | Common | NONE |
| 78464A672 | SPTI | SPDR SERIES TRUST | $333,462 | 0.05% | 11,591 | Common | NONE |
| 78464A409 | SPYG | SPDR SERIES TRUST | $295,401 | 0.04% | 3,099 | Common | NONE |
| 922908553 | VNQ | VANGUARD INDEX FDS | $267,327 | 0.04% | 3,002 | Common | NONE |
| 921910873 | MGC | VANGUARD WORLD FD | $264,281 | 0.04% | 1,175 | Common | NONE |
| 464287655 | IWM | ISHARES TR | $257,437 | 0.04% | 1,193 | Common | NONE |
| 922908363 | VOO | VANGUARD INDEX FDS | $256,182 | 0.03% | 451 | Common | NONE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $247,324 | 0.03% | 440 | Common | NONE |
| 97717W125 | WTMF | WISDOMTREE TR | $244,952 | 0.03% | 6,938 | Common | NONE |
| 69374H881 | COWZ | PACER FDS TR | $241,996 | 0.03% | 4,392 | Common | NONE |
| 78464A508 | SPYV | SPDR SERIES TRUST | $237,414 | 0.03% | 4,536 | Common | NONE |
| 88636R669 | FEAT | TIDAL TR II | $236,601 | 0.03% | 6,333 | Common | NONE |
| 88634T881 | GDXY | TIDAL TR II | $235,236 | 0.03% | 15,809 | Common | NONE |
| 316092840 | FDVV | FIDELITY COVINGTON TRUST | $229,252 | 0.03% | 4,407 | Common | NONE |
| 780259305 | SHEL | SHELL PLC | $223,661 | 0.03% | 3,177 | Common | NONE |
| 88634T535 | FIAX | TIDAL TR II | $209,674 | 0.03% | 11,489 | Common | NONE |
| 47103U845 | JAAA | JANUS DETROIT STR TR | $208,767 | 0.03% | 4,114 | Common | NONE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $207,952 | 0.03% | 2,221 | Common | NONE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $206,229 | 0.03% | 1,530 | Common | NONE |
| 911312106 | UPS | UNITED PARCEL SERVICE INC | $205,514 | 0.03% | 2,036 | Common | NONE |
| 88634T436 | JPO | TIDAL TR II | $203,938 | 0.03% | 11,907 | Common | NONE |
| 88636J444 | — | TIDAL TR II | $171,523 | 0.02% | 20,994 | Common | NONE |
| 53656G357 | YFYA | LISTED FDS TR | $155,041 | 0.02% | 15,697 | Common | NONE |
| 88634T824 | — | TIDAL TR II | $112,858 | 0.02% | 12,361 | Common | NONE |
| 88636J519 | — | TIDAL TR II | $96,043 | 0.01% | 20,305 | Common | NONE |
| 192108504 | CDE | COEUR MNG INC | $89,486 | 0.01% | 10,100 | Common | NONE |
| 88636J485 | — | TIDAL TR II | $82,133 | 0.01% | 11,025 | Common | NONE |
| 88636J477 | — | TIDAL TR II | $63,608 | 0.01% | 18,491 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.