Q4 2025 · 13F-HR
ZEGA Investments, LLCholdings as filed
Filed 2026-01-27 · accession 0001172661-26-000317
$848.3M
Reported value
173
Positions
2025-12-31
Period end
The Brief · ZEGA Investments, LLC · Q4 2025
AI · grounded in 13F
ZEGA Investments, LLC increased its position in NVDL by 1715.61%. The fund also accumulated shares in META by 199.86% and COST by 114.63%. On the selling side, the fund trimmed its holdings in JEPI by 89.46% and BIL by 47.55%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $100.0M | 11.8% | 146,600 | CALL | NONE |
| 037833100 | AAPL | APPLE INC | $94.4M | 11.1% | 347,055 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $82.3M | 9.70% | 120,700 | PUT | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $49.6M | 5.84% | 72,663 | Common | NONE |
| 78470P846 | HYBL | SSGA ACTIVE TR | $47.9M | 5.65% | 1,685,210 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $45.4M | 5.35% | 167,000 | CALL | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $26.0M | 3.07% | 139,669 | Common | NONE |
| 886364660 | ZHDG | TIDAL TRUST I | $21.3M | 2.51% | 941,836 | Common | NONE |
| 023135106 | AMZN | AMAZON COM INC | $19.9M | 2.34% | 86,138 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $18.0M | 2.12% | 37,179 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $16.3M | 1.92% | 87,400 | CALL | NONE |
| 023135106 | AMZN | AMAZON COM INC | $14.4M | 1.70% | 62,300 | CALL | NONE |
| 88160R101 | TSLA | TESLA INC | $14.3M | 1.69% | 31,895 | Common | NONE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $13.9M | 1.64% | 16,150 | Common | NONE |
| 78468R408 | SJNK | SPDR SERIES TRUST | $10.9M | 1.28% | 429,398 | Common | NONE |
| 78467V608 | SRLN | SSGA ACTIVE ETF TR | $10.6M | 1.25% | 257,316 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $10.6M | 1.25% | 17,200 | PUT | NONE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $9.4M | 1.11% | 10,900 | CALL | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $8.9M | 1.05% | 73,862 | Common | NONE |
| 30303M102 | META | META PLATFORMS INC | $8.7M | 1.03% | 13,209 | Common | NONE |
| 532457108 | LLY | ELI LILLY & CO | $8.2M | 0.97% | 7,656 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $8.2M | 0.96% | 30,100 | PUT | NONE |
| 001055102 | AFL | AFLAC INC | $7.5M | 0.88% | 67,975 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $7.4M | 0.87% | 61,300 | CALL | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $6.9M | 0.82% | 14,300 | CALL | NONE |
| 001055102 | AFL | AFLAC INC | $6.6M | 0.77% | 59,400 | CALL | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $6.1M | 0.72% | 26,775 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $5.7M | 0.67% | 25,000 | CALL | NONE |
| 38747R827 | NVDL | GRANITESHARES ETF TR | $5.6M | 0.66% | 63,467 | Common | NONE |
| 38747R827 | NVDL | GRANITESHARES ETF TR | $5.5M | 0.65% | 62,700 | CALL | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $5.3M | 0.62% | 16,788 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $5.3M | 0.62% | 16,305 | Common | NONE |
| 02079K107 | GOOG | ALPHABET INC | $4.9M | 0.58% | 15,686 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $4.1M | 0.49% | 12,800 | CALL | NONE |
| 92826C839 | V | VISA INC | $3.8M | 0.45% | 10,817 | Common | NONE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $3.7M | 0.44% | 11,276 | Common | NONE |
| 11135F101 | AVGO | BROADCOM INC | $3.4M | 0.40% | 9,874 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $2.8M | 0.33% | 4,600 | CALL | NONE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $2.8M | 0.33% | 15,610 | Common | NONE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $2.6M | 0.30% | 8,934 | Common | NONE |
| 931142103 | WMT | WALMART INC | $2.5M | 0.29% | 22,204 | Common | NONE |
| 437076102 | HD | HOME DEPOT INC | $2.4M | 0.29% | 7,118 | Common | NONE |
| 58155Q103 | MCK | MCKESSON CORP | $2.4M | 0.29% | 2,972 | Common | NONE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $2.4M | 0.28% | 13,600 | CALL | NONE |
| 78468R663 | BIL | SPDR SERIES TRUST | $2.2M | 0.26% | 24,021 | Common | NONE |
| 88636J568 | SPYT | TIDAL TRUST II | $2.2M | 0.26% | 125,137 | Common | NONE |
| 88636R750 | BIGY | TIDAL TRUST II | $2.2M | 0.26% | 41,477 | Common | NONE |
| 149123101 | CAT | CATERPILLAR INC | $2.1M | 0.25% | 3,659 | Common | NONE |
| 464287200 | IVV | ISHARES TR | $2.0M | 0.24% | 2,956 | Common | NONE |
| 14020W106 | CGDV | CAPITAL GROUP DIVIDEND VALUE | $2.0M | 0.24% | 45,950 | Common | NONE |
| 69374H360 | COWG | PACER FDS TR | $2.0M | 0.23% | 55,621 | Common | NONE |
| 78464A672 | SPTI | SPDR SERIES TRUST | $2.0M | 0.23% | 67,823 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.9M | 0.23% | 3,873 | Common | NONE |
| 931142103 | WMT | WALMART INC | $1.8M | 0.21% | 16,100 | CALL | NONE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $1.8M | 0.21% | 5,696 | Common | NONE |
| 88636J659 | YMAX | TIDAL TRUST II | $1.7M | 0.20% | 171,644 | Common | NONE |
| 98149E303 | GLDM | WORLD GOLD TR | $1.7M | 0.20% | 19,931 | Common | NONE |
| 902973304 | USB | US BANCORP DEL | $1.7M | 0.20% | 31,467 | Common | NONE |
| 701094104 | PH | PARKER-HANNIFIN CORP | $1.6M | 0.19% | 1,841 | Common | NONE |
| 902973304 | USB | US BANCORP DEL | $1.6M | 0.19% | 30,100 | CALL | NONE |
| 78464A854 | SPYM | SPDR SERIES TRUST | $1.6M | 0.19% | 19,614 | Common | NONE |
| 291011104 | EMR | EMERSON ELEC CO | $1.6M | 0.18% | 11,729 | Common | NONE |
| 22788C105 | CRWD | CROWDSTRIKE HLDGS INC | $1.5M | 0.17% | 3,129 | Common | NONE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $1.4M | 0.17% | 6,569 | Common | NONE |
| 46138G649 | QQQM | INVESCO EXCH TRADED FD TR II | $1.3M | 0.15% | 5,190 | Common | NONE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $1.3M | 0.15% | 6,334 | Common | NONE |
| 30212P303 | EXPE | EXPEDIA GROUP INC | $1.3M | 0.15% | 4,605 | Common | NONE |
| 88636R818 | SOXY | TIDAL TRUST II | $1.3M | 0.15% | 21,894 | Common | NONE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $1.3M | 0.15% | 11,417 | Common | NONE |
| 512807306 | LRCX | LAM RESEARCH CORP | $1.3M | 0.15% | 7,509 | Common | NONE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $1.2M | 0.14% | 44,467 | Common | NONE |
| 38141G104 | GS | GOLDMAN SACHS GROUP INC | $1.2M | 0.14% | 1,386 | Common | NONE |
| 191216100 | KO | COCA COLA CO | $1.2M | 0.14% | 17,415 | Common | NONE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $1.2M | 0.14% | 3,290 | Common | NONE |
| 61174X109 | MNST | MONSTER BEVERAGE CORP NEW | $1.2M | 0.14% | 15,599 | Common | NONE |
| 064058100 | BK | BANK NEW YORK MELLON CORP | $1.2M | 0.14% | 10,129 | Common | NONE |
| 713448108 | PEP | PEPSICO INC | $1.2M | 0.14% | 8,162 | Common | NONE |
| 88579Y101 | MMM | 3M CO | $1.2M | 0.14% | 7,291 | Common | NONE |
| 36828A101 | GEV | GE VERNOVA INC | $1.2M | 0.14% | 1,778 | Common | NONE |
| 482480100 | KLAC | KLA CORP | $1.2M | 0.14% | 950 | Common | NONE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $1.2M | 0.14% | 6,261 | Common | NONE |
| 693718108 | PCAR | PACCAR INC | $1.1M | 0.14% | 10,500 | Common | NONE |
| 369604301 | GE | GE AEROSPACE | $1.1M | 0.13% | 3,686 | Common | NONE |
| 863667101 | SYK | STRYKER CORPORATION | $1.1M | 0.13% | 3,215 | Common | NONE |
| 040413205 | ANET | ARISTA NETWORKS INC | $1.1M | 0.13% | 8,608 | Common | NONE |
| 922908736 | VUG | VANGUARD INDEX FDS | $1.1M | 0.13% | 2,179 | Common | NONE |
| 127387108 | CDNS | CADENCE DESIGN SYSTEM INC | $1.0M | 0.12% | 3,356 | Common | NONE |
| 74762E102 | QURE | QUANTA SVCS INC | $1.0M | 0.12% | 2,485 | Common | NONE |
| 872540109 | TJX | TJX COS INC NEW | $1.0M | 0.12% | 6,764 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD TR | $1.0M | 0.12% | 2,611 | Common | NONE |
| 78409V104 | SPGI | S&P GLOBAL INC | $1.0M | 0.12% | 1,957 | Common | NONE |
| 464287150 | ITOT | ISHARES TR | $1.0M | 0.12% | 6,819 | Common | NONE |
| 002824100 | ABT | ABBOTT LABS | $1.0M | 0.12% | 8,012 | Common | NONE |
| 461202103 | INTU | INTUIT | $996,942 | 0.12% | 1,505 | Common | NONE |
| 88636J659 | YMAX | TIDAL TRUST II | $992,012 | 0.12% | 99,400 | PUT | NONE |
| 68389X105 | ORCL | ORACLE CORP | $987,609 | 0.12% | 5,067 | Common | NONE |
| 29273V100 | ET | ENERGY TRANSFER L P | $926,156 | 0.11% | 56,165 | Common | NONE |
| 580135101 | MCD | MCDONALDS CORP | $915,276 | 0.11% | 2,995 | Common | NONE |
| 855244109 | SBUX | STARBUCKS CORP | $913,208 | 0.11% | 10,844 | Common | NONE |
| 693475105 | PNC | PNC FINL SVCS GROUP INC | $910,898 | 0.11% | 4,364 | Common | NONE |
| 64110L106 | NFLX | NETFLIX INC | $888,845 | 0.10% | 9,480 | Common | NONE |
| 922908769 | VTI | VANGUARD INDEX FDS | $884,778 | 0.10% | 2,639 | Common | NONE |
| G29183103 | ETN | EATON CORP PLC | $850,422 | 0.10% | 2,670 | Common | NONE |
| 83406F102 | SOFI | SOFI TECHNOLOGIES INC | $843,677 | 0.10% | 32,226 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $840,997 | 0.10% | 1,369 | Common | NONE |
| 097023105 | BA | BOEING CO | $835,261 | 0.10% | 3,847 | Common | NONE |
| 09789C861 | XONE | BONDBLOXX ETF TRUST | $829,766 | 0.10% | 16,751 | Common | NONE |
| 09789C788 | XHLF | BONDBLOXX ETF TRUST | $828,974 | 0.10% | 16,497 | Common | NONE |
| 166764100 | CVX | CHEVRON CORP NEW | $825,578 | 0.10% | 5,417 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $817,262 | 0.10% | 25,492 | Common | NONE |
| 05464C101 | AXON | AXON ENTERPRISE INC | $813,844 | 0.10% | 1,433 | Common | NONE |
| 88636J576 | QQQT | TIDAL TRUST II | $794,371 | 0.09% | 45,570 | Common | NONE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $769,236 | 0.09% | 5,368 | Common | NONE |
| 244199105 | DE | DEERE & CO | $750,033 | 0.09% | 1,611 | Common | NONE |
| 00724F101 | ADBE | ADOBE INC | $745,479 | 0.09% | 2,130 | Common | NONE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $724,071 | 0.09% | 7,769 | Common | NONE |
| 594972408 | MSTR | STRATEGY INC | $710,518 | 0.08% | 4,676 | Common | NONE |
| 88636R560 | SDTY | TIDAL TRUST II | $700,544 | 0.08% | 15,784 | Common | NONE |
| 19260Q107 | COIN | COINBASE GLOBAL INC | $647,891 | 0.08% | 2,865 | Common | NONE |
| 79466L302 | CRM | SALESFORCE INC | $641,955 | 0.08% | 2,423 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $641,125 | 0.08% | 3,974 | Common | NONE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $605,502 | 0.07% | 4,028 | Common | NONE |
| 09789C853 | XTWO | BONDBLOXX ETF TRUST | $565,343 | 0.07% | 11,428 | Common | NONE |
| 501044101 | KR | KROGER CO | $558,679 | 0.07% | 8,942 | Common | NONE |
| 294429105 | EFX | EQUIFAX INC | $542,450 | 0.06% | 2,500 | Common | NONE |
| 78468R440 | CERY | SPDR SERIES TRUST | $532,511 | 0.06% | 18,652 | Common | NONE |
| 88636J394 | GLDY | TIDAL TRUST II | $510,493 | 0.06% | 31,052 | Common | NONE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $503,342 | 0.06% | 15,700 | CALL | NONE |
| 02072L565 | BOXX | EA SERIES TRUST | $410,562 | 0.05% | 3,567 | Common | NONE |
| 921946406 | VYM | VANGUARD WHITEHALL FDS | $395,346 | 0.05% | 2,755 | Common | NONE |
| 921910873 | MGC | VANGUARD WORLD FD | $395,090 | 0.05% | 1,573 | Common | NONE |
| 88634T436 | JPO | TIDAL TRUST II | $391,835 | 0.05% | 24,488 | Common | NONE |
| 88634T774 | NVDY | TIDAL TRUST II | $362,867 | 0.04% | 24,837 | Common | NONE |
| 97717Y527 | USFR | WISDOMTREE TR | $356,718 | 0.04% | 7,089 | Common | NONE |
| 18915M107 | NET | CLOUDFLARE INC | $353,687 | 0.04% | 1,794 | Common | NONE |
| 911312106 | UPS | UNITED PARCEL SERVICE INC | $351,331 | 0.04% | 3,542 | Common | NONE |
| 81762P102 | NOW | SERVICENOW INC | $344,831 | 0.04% | 2,251 | Common | NONE |
| 389637109 | GBTC | GRAYSCALE BITCOIN TRUST ETF | $341,800 | 0.04% | 5,000 | Common | NONE |
| 46641Q837 | JPST | J P MORGAN EXCHANGE TRADED F | $341,634 | 0.04% | 6,753 | Common | NONE |
| 438516106 | HON | HONEYWELL INTL INC | $328,141 | 0.04% | 1,682 | Common | NONE |
| 02072L649 | BRNY | EA SERIES TRUST | $326,245 | 0.04% | 6,467 | Common | NONE |
| 458140100 | INTC | INTEL CORP | $322,026 | 0.04% | 8,727 | Common | NONE |
| 88634T790 | GOOY | TIDAL TRUST II | $317,812 | 0.04% | 21,768 | Common | NONE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $310,825 | 0.04% | 3,804 | Common | NONE |
| 88636J162 | GIAX | TIDAL TRUST II | $308,386 | 0.04% | 18,747 | Common | NONE |
| 465741106 | ITRI | ITRON INC | $299,566 | 0.04% | 3,226 | Common | NONE |
| 464287655 | IWM | ISHARES TR | $295,887 | 0.03% | 1,202 | Common | NONE |
| 78464A409 | SPYG | SPDR SERIES TRUST | $292,304 | 0.03% | 2,739 | Common | NONE |
| 46641Q332 | JEPI | J P MORGAN EXCHANGE TRADED F | $280,252 | 0.03% | 4,896 | Common | NONE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $279,033 | 0.03% | 5,620 | Common | NONE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $255,982 | 0.03% | 448 | Common | NONE |
| 452308109 | ITW | ILLINOIS TOOL WKS INC | $254,182 | 0.03% | 1,032 | Common | NONE |
| 316092840 | FDVV | FIDELITY COVINGTON TRUST | $249,833 | 0.03% | 4,407 | Common | NONE |
| 88634T857 | APLY | TIDAL TRUST II | $249,806 | 0.03% | 18,740 | Common | NONE |
| 78468R424 | LVLN | SPDR SERIES TRUST | $249,676 | 0.03% | 9,896 | Common | NONE |
| 88636J451 | YQQQ | TIDAL TRUST II | $242,800 | 0.03% | 19,984 | Common | NONE |
| 97717X669 | DGRW | WISDOMTREE TR | $238,778 | 0.03% | 2,670 | Common | NONE |
| 88634T840 | AMZY | TIDAL TRUST II | $232,578 | 0.03% | 17,513 | Common | NONE |
| 780259305 | SHEL | SHELL PLC | $230,664 | 0.03% | 3,139 | Common | NONE |
| 88636X880 | TSLY | TIDAL TRUST II | $226,883 | 0.03% | 6,044 | Common | NONE |
| 496902404 | KGC | KINROSS GOLD CORP | $225,280 | 0.03% | 8,000 | Common | NONE |
| 922908363 | VOO | VANGUARD INDEX FDS | $223,885 | 0.03% | 357 | Common | NONE |
| 78464A508 | SPYV | SPDR SERIES TRUST | $219,912 | 0.03% | 3,871 | Common | NONE |
| 37954Y673 | PAVE | GLOBAL X FDS | $211,805 | 0.02% | 4,432 | Common | NONE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $209,717 | 0.02% | 708 | Common | NONE |
| 88636R347 | WNTR | TIDAL TRUST II | $209,559 | 0.02% | 5,284 | Common | NONE |
| 97717Y477 | QGRW | WISDOMTREE TR | $206,460 | 0.02% | 3,519 | Common | NONE |
| 88636R800 | PLTY | TIDAL TRUST II | $201,746 | 0.02% | 3,914 | Common | NONE |
| 464287101 | OEF | ISHARES TR | $200,981 | 0.02% | 586 | Common | NONE |
| 88634T428 | MSFO | TIDAL TRUST II | $200,419 | 0.02% | 12,972 | Common | NONE |
| 88634T816 | FBY | TIDAL TRUST II | $188,547 | 0.02% | 14,952 | Common | NONE |
| 88634T444 | DISO | TIDAL TRUST II | $182,280 | 0.02% | 15,002 | Common | NONE |
| 192108504 | CDE | COEUR MNG INC | $180,083 | 0.02% | 10,100 | 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.