Q3 2025 · 13F-HR
ZEGA Investments, LLCholdings as filed
Filed 2025-10-27 · accession 0001172661-25-004437
$747.2M
Reported value
157
Positions
2025-09-30
Period end
The Brief · ZEGA Investments, LLC · Q3 2025
AI · grounded in 13F
ZEGA Investments, LLC established a new position in SPY valued at $234.2M. The fund also initiated new stakes in AAPL for $114.5M and HYBL for $36.7M. Additional new positions include NVDA at $32.8M and AMZN at $32.2M. Total assets under management stand at $747.2M across 139 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $107.2M | 14.3% | 160,900 | CALL | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $87.0M | 11.6% | 130,600 | PUT | NONE |
| 037833100 | AAPL | APPLE INC | $68.4M | 9.15% | 268,626 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $40.0M | 5.35% | 60,060 | Common | NONE |
| 78470P846 | HYBL | SSGA ACTIVE TR | $36.7M | 4.91% | 1,279,680 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $36.3M | 4.85% | 142,400 | CALL | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $24.7M | 3.31% | 132,452 | Common | NONE |
| 886364660 | ZHDG | TIDAL TRUST I | $17.7M | 2.37% | 778,903 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $17.6M | 2.36% | 34,076 | Common | NONE |
| 023135106 | AMZN | AMAZON COM INC | $17.2M | 2.30% | 78,142 | Common | NONE |
| 78468R408 | SJNK | SPDR SERIES TRUST | $15.4M | 2.06% | 600,295 | Common | NONE |
| 023135106 | AMZN | AMAZON COM INC | $15.0M | 2.01% | 68,400 | CALL | NONE |
| 78467V608 | SRLN | SSGA ACTIVE ETF TR | $14.9M | 1.99% | 357,232 | Common | NONE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $11.7M | 1.56% | 12,603 | Common | NONE |
| 88160R101 | TSLA | TESLA INC | $10.4M | 1.40% | 23,475 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $9.9M | 1.32% | 38,800 | PUT | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $8.3M | 1.11% | 73,639 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $8.1M | 1.08% | 13,500 | PUT | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $8.0M | 1.08% | 43,100 | CALL | NONE |
| 001055102 | AFL | AFLAC INC | $7.6M | 1.01% | 67,859 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $7.1M | 0.95% | 62,900 | CALL | NONE |
| 001055102 | AFL | AFLAC INC | $6.6M | 0.89% | 59,400 | CALL | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $5.9M | 0.79% | 25,520 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $5.7M | 0.76% | 11,000 | CALL | NONE |
| 532457108 | LLY | ELI LILLY & CO | $5.0M | 0.67% | 6,608 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $4.7M | 0.63% | 15,035 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $4.4M | 0.59% | 19,100 | CALL | NONE |
| 78468R663 | BIL | SPDR SERIES TRUST | $4.2M | 0.56% | 45,798 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $4.2M | 0.56% | 13,200 | CALL | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $4.0M | 0.53% | 6,600 | CALL | NONE |
| 02079K107 | GOOG | ALPHABET INC | $3.7M | 0.50% | 15,396 | Common | NONE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $3.7M | 0.49% | 10,647 | Common | NONE |
| 92826C839 | V | VISA INC | $3.6M | 0.48% | 10,416 | Common | NONE |
| 30303M102 | META | META PLATFORMS INC | $3.2M | 0.43% | 4,405 | Common | NONE |
| 88636J568 | SPYT | TIDAL TRUST II | $3.1M | 0.41% | 165,984 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $2.9M | 0.39% | 12,039 | Common | NONE |
| 437076102 | HD | HOME DEPOT INC | $2.9M | 0.38% | 7,070 | Common | NONE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $2.8M | 0.38% | 15,523 | Common | NONE |
| 594972408 | MSTR | STRATEGY INC | $2.8M | 0.38% | 8,769 | Common | NONE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $2.7M | 0.36% | 8,934 | Common | NONE |
| 46641Q332 | JEPI | J P MORGAN EXCHANGE TRADED F | $2.7M | 0.36% | 46,458 | Common | NONE |
| 88636J659 | YMAX | TIDAL TRUST II | $2.6M | 0.35% | 205,123 | Common | NONE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $2.6M | 0.34% | 14,000 | CALL | NONE |
| 58155Q103 | MCK | MCKESSON CORP | $2.3M | 0.31% | 2,974 | Common | NONE |
| 931142103 | WMT | WALMART INC | $2.3M | 0.31% | 22,226 | Common | NONE |
| 149123101 | CAT | CATERPILLAR INC | $2.0M | 0.27% | 4,184 | Common | NONE |
| 464287200 | IVV | ISHARES TR | $2.0M | 0.27% | 2,961 | Common | NONE |
| 69374H360 | COWG | PACER FDS TR | $1.9M | 0.25% | 51,786 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.8M | 0.25% | 3,662 | Common | NONE |
| 11135F101 | AVGO | BROADCOM INC | $1.8M | 0.24% | 5,426 | Common | NONE |
| 931142103 | WMT | WALMART INC | $1.7M | 0.22% | 16,100 | CALL | NONE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $1.7M | 0.22% | 11,551 | Common | NONE |
| 98149E303 | GLDM | WORLD GOLD TR | $1.7M | 0.22% | 21,609 | Common | NONE |
| 291011104 | EMR | EMERSON ELEC CO | $1.6M | 0.21% | 12,059 | Common | NONE |
| 902973304 | USB | US BANCORP DEL | $1.6M | 0.21% | 32,604 | Common | NONE |
| 78464A672 | SPTI | SPDR SERIES TRUST | $1.5M | 0.21% | 53,448 | Common | NONE |
| 902973304 | USB | US BANCORP DEL | $1.5M | 0.21% | 31,900 | CALL | NONE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $1.5M | 0.20% | 10,600 | CALL | NONE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $1.5M | 0.20% | 5,692 | Common | NONE |
| 701094104 | PH | PARKER-HANNIFIN CORP | $1.4M | 0.19% | 1,900 | Common | NONE |
| 22788C105 | CRWD | CROWDSTRIKE HLDGS INC | $1.4M | 0.18% | 2,767 | Common | NONE |
| 040413205 | ANET | ARISTA NETWORKS INC | $1.3M | 0.18% | 9,079 | Common | NONE |
| 64110L106 | NFLX | NETFLIX INC | $1.3M | 0.18% | 1,093 | Common | NONE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $1.3M | 0.17% | 44,467 | Common | NONE |
| 68389X105 | ORCL | ORACLE CORP | $1.3M | 0.17% | 4,471 | Common | NONE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $1.2M | 0.16% | 7,484 | Common | NONE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $1.2M | 0.16% | 5,846 | Common | NONE |
| 863667101 | SYK | STRYKER CORPORATION | $1.2M | 0.16% | 3,213 | Common | NONE |
| 512807306 | LRCX | LAM RESEARCH CORP | $1.2M | 0.16% | 8,765 | Common | NONE |
| 78464A854 | SPYM | SPDR SERIES TRUST | $1.2M | 0.16% | 14,977 | Common | NONE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $1.2M | 0.16% | 6,320 | Common | NONE |
| 74762E102 | QURE | QUANTA SVCS INC | $1.2M | 0.16% | 2,798 | Common | NONE |
| 713448108 | PEP | PEPSICO INC | $1.2M | 0.15% | 8,190 | Common | NONE |
| 191216100 | KO | COCA COLA CO | $1.1M | 0.15% | 17,318 | Common | NONE |
| 482480100 | KLAC | KLA CORP | $1.1M | 0.15% | 1,050 | Common | NONE |
| H2906T109 | GRMN | GARMIN LTD | $1.1M | 0.15% | 4,553 | Common | NONE |
| 369604301 | GE | GE AEROSPACE | $1.1M | 0.15% | 3,621 | Common | NONE |
| 46138G649 | QQQM | INVESCO EXCH TRADED FD TR II | $1.1M | 0.14% | 4,373 | Common | NONE |
| 127387108 | CDNS | CADENCE DESIGN SYSTEM INC | $1.1M | 0.14% | 3,076 | Common | NONE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $1.1M | 0.14% | 3,252 | Common | NONE |
| 36828A101 | GEV | GE VERNOVA INC | $1.1M | 0.14% | 1,722 | Common | NONE |
| 38141G104 | GS | GOLDMAN SACHS GROUP INC | $1.1M | 0.14% | 1,319 | Common | NONE |
| 064058100 | BK | BANK NEW YORK MELLON CORP | $1.1M | 0.14% | 9,640 | Common | NONE |
| 693718108 | PCAR | PACCAR INC | $1.0M | 0.14% | 10,500 | Common | NONE |
| 461202103 | INTU | INTUIT | $1.0M | 0.14% | 1,505 | Common | NONE |
| G29183103 | ETN | EATON CORP PLC | $1.0M | 0.14% | 2,722 | Common | NONE |
| 05464C101 | AXON | AXON ENTERPRISE INC | $998,237 | 0.13% | 1,391 | Common | NONE |
| 61174X109 | MNST | MONSTER BEVERAGE CORP NEW | $992,015 | 0.13% | 14,738 | Common | NONE |
| G96629103 | WTW | WILLIS TOWERS WATSON PLC LTD | $984,533 | 0.13% | 2,850 | Common | NONE |
| 88636J576 | QQQT | TIDAL TRUST II | $983,048 | 0.13% | 52,937 | Common | NONE |
| 30212P303 | EXPE | EXPEDIA GROUP INC | $968,929 | 0.13% | 4,533 | Common | NONE |
| 922908736 | VUG | VANGUARD INDEX FDS | $941,014 | 0.13% | 1,962 | Common | NONE |
| 922908769 | VTI | VANGUARD INDEX FDS | $923,799 | 0.12% | 2,815 | Common | NONE |
| 921946406 | VYM | VANGUARD WHITEHALL FDS | $921,549 | 0.12% | 6,538 | Common | NONE |
| 855244109 | SBUX | STARBUCKS CORP | $917,268 | 0.12% | 10,842 | Common | NONE |
| 580135101 | MCD | MCDONALDS CORP | $897,226 | 0.12% | 2,952 | Common | NONE |
| 538034109 | LYV | LIVE NATION ENTERTAINMENT IN | $888,733 | 0.12% | 5,439 | Common | NONE |
| 92840M102 | VST | VISTRA CORP | $871,060 | 0.12% | 4,446 | Common | NONE |
| 78409V104 | SPGI | S&P GLOBAL INC | $834,708 | 0.11% | 1,715 | Common | NONE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $829,347 | 0.11% | 5,398 | Common | NONE |
| 464287150 | ITOT | ISHARES TR | $829,010 | 0.11% | 5,692 | Common | NONE |
| 88636R818 | SOXY | TIDAL TRUST II | $822,030 | 0.11% | 14,567 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $776,285 | 0.10% | 24,825 | Common | NONE |
| 00724F101 | ADBE | ADOBE INC | $745,714 | 0.10% | 2,114 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $716,365 | 0.10% | 1,193 | Common | NONE |
| 375558103 | GILD | GILEAD SCIENCES INC | $679,635 | 0.09% | 6,123 | Common | NONE |
| 38747R827 | NVDL | GRANITESHARES ETF TR | $650,565 | 0.09% | 6,949 | Common | NONE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $639,547 | 0.09% | 7,630 | Common | NONE |
| 501044101 | KR | KROGER CO | $599,650 | 0.08% | 8,896 | Common | NONE |
| 78468R440 | CERY | SPDR SERIES TRUST | $591,307 | 0.08% | 20,639 | Common | NONE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $588,365 | 0.08% | 4,112 | Common | NONE |
| 81762P102 | NOW | SERVICENOW INC | $570,574 | 0.08% | 620 | Common | NONE |
| 79466L302 | CRM | SALESFORCE INC | $551,736 | 0.07% | 2,328 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $540,716 | 0.07% | 4,037 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $490,939 | 0.07% | 15,700 | CALL | NONE |
| 132061201 | SYLD | CAMBRIA ETF TR | $460,133 | 0.06% | 6,702 | Common | NONE |
| 88636J162 | GIAX | TIDAL TRUST II | $453,360 | 0.06% | 25,951 | Common | NONE |
| 02072L565 | BOXX | EA SERIES TRUST | $450,772 | 0.06% | 3,959 | Common | NONE |
| 389637109 | GBTC | GRAYSCALE BITCOIN TRUST ETF | $448,850 | 0.06% | 5,000 | Common | NONE |
| 88636R560 | SDTY | TIDAL TRUST II | $431,071 | 0.06% | 9,419 | Common | NONE |
| 465741106 | ITRI | ITRON INC | $404,197 | 0.05% | 3,245 | Common | NONE |
| 166764100 | CVX | CHEVRON CORP NEW | $391,727 | 0.05% | 2,523 | Common | NONE |
| 09175A206 | BMNR | BITMINE IMMERSION TECNOLOGIE | $385,528 | 0.05% | 7,424 | Common | NONE |
| 46641Q837 | JPST | J P MORGAN EXCHANGE TRADED F | $380,729 | 0.05% | 7,505 | Common | NONE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $371,110 | 0.05% | 3,788 | Common | NONE |
| 97717Y527 | USFR | WISDOMTREE TR | $360,486 | 0.05% | 7,171 | Common | NONE |
| 438516106 | HON | HONEYWELL INTL INC | $358,692 | 0.05% | 1,704 | Common | NONE |
| 921910873 | MGC | VANGUARD WORLD FD | $313,412 | 0.04% | 1,284 | Common | NONE |
| 88636R750 | BIGY | TIDAL TRUST II | $306,498 | 0.04% | 5,843 | Common | NONE |
| 02072L649 | BRNY | EA SERIES TRUST | $301,074 | 0.04% | 6,219 | Common | NONE |
| 464287655 | IWM | ISHARES TR | $297,127 | 0.04% | 1,228 | Common | NONE |
| 88634T493 | — | TIDAL TRUST II | $296,334 | 0.04% | 21,227 | Common | NONE |
| 88634T881 | GDXY | TIDAL TRUST II | $290,007 | 0.04% | 16,422 | Common | NONE |
| 92647N527 | UITB | VICTORY PORTFOLIOS II | $285,690 | 0.04% | 6,012 | Common | NONE |
| 46641Q670 | JCPB | J P MORGAN EXCHANGE TRADED F | $282,590 | 0.04% | 5,943 | Common | NONE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $279,565 | 0.04% | 4,301 | Common | NONE |
| 78464A409 | SPYG | SPDR SERIES TRUST | $274,311 | 0.04% | 2,625 | Common | NONE |
| 452308109 | ITW | ILLINOIS TOOL WKS INC | $268,322 | 0.04% | 1,029 | Common | NONE |
| 88634T436 | JPO | TIDAL TRUST II | $265,422 | 0.04% | 15,307 | Common | NONE |
| 88634T774 | NVDY | TIDAL TRUST II | $260,500 | 0.03% | 15,506 | Common | NONE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $253,837 | 0.03% | 446 | Common | NONE |
| 316092840 | FDVV | FIDELITY COVINGTON TRUST | $245,514 | 0.03% | 4,407 | Common | NONE |
| 780259305 | SHEL | SHELL PLC | $228,774 | 0.03% | 3,198 | Common | NONE |
| 88636J451 | YQQQ | TIDAL TRUST II | $227,171 | 0.03% | 17,796 | Common | NONE |
| 922908553 | VNQ | VANGUARD INDEX FDS | $223,818 | 0.03% | 2,448 | Common | NONE |
| 922908363 | VOO | VANGUARD INDEX FDS | $219,844 | 0.03% | 359 | Common | NONE |
| 88636R735 | GPTY | TIDAL TRUST II | $216,920 | 0.03% | 4,639 | Common | NONE |
| 042068205 | ARM | ARM HOLDINGS PLC | $215,065 | 0.03% | 1,520 | Common | NONE |
| 88636J444 | — | TIDAL TRUST II | $193,370 | 0.03% | 20,506 | Common | NONE |
| 192108504 | CDE | COEUR MNG INC | $189,476 | 0.03% | 10,100 | Common | NONE |
| 88634T790 | GOOY | TIDAL TRUST II | $182,355 | 0.02% | 12,887 | Common | NONE |
| 88634T857 | APLY | TIDAL TRUST II | $166,283 | 0.02% | 12,209 | Common | NONE |
| 88634T840 | AMZY | TIDAL TRUST II | $150,471 | 0.02% | 10,574 | Common | NONE |
| 88636J527 | — | TIDAL TRUST II | $109,395 | 0.01% | 19,999 | Common | NONE |
| 88636J485 | — | TIDAL TRUST II | $96,023 | 0.01% | 16,220 | Common | NONE |
| 88636J519 | — | TIDAL TRUST II | $95,204 | 0.01% | 30,612 | Common | NONE |
| 88636J477 | — | TIDAL TRUST II | $91,490 | 0.01% | 33,513 | 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.