ZEGA Investments, LLC
13F Reported Value
ⓘ$973.0M
incl. option notional
Equity Holdings
ⓘ$599.9M
Option Notional
ⓘ$373.1M
$100.3M puts / $272.8M calls
Holdings
335
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
ZEGA Investments, LLC disclosed 335 positions worth $973.0M in its Form 13F-HR for Q2 2026 — $599.9M in common stock plus $373.1M of put/call option positions (reported at underlying notional value, not premium at risk), led by $SPY (SPDR S&P 500 ETF TRUST) calls, followed by $AAPL and $SPY. During the quarter the fund opened 64 new positions and exited 27 — including a new stake in $ADP and a full exit from $KMI. The portfolio is most concentrated in Other (35.4% of disclosed assets). All figures are sourced directly from ZEGA Investments, LLC’s Form 13F-HR filing with the SEC under CIK 2045703.
AI Fund Analysis
Diversifying
$AAPL
$SPY
$NVDA
$COST$COST
$KR$NVDASector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- —
Quality
$104.5M139,900 sh - 76.4#84
Quality
$94.0M324,998 sh - —
Quality
$81.0M108,500 sh SSGA ACTIVE TR - ST STR BLACK ETF
—Quality
$54.0M1,933,377 sh- —
Quality
$48.4M64,796 sh - 85.9
Quality
$36.0M179,783 sh - 76.4
Quality
$33.1M114,300 sh - 66.2
Quality
$24.7M26,358 sh TIDAL TRUST I - ZEGA BUY HED ETF
—Quality
$23.6M1,002,872 sh- 68.7
Quality
$21.1M88,567 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| SPDR S&P 500 ETF TRUST$SPYCALL | — | $104.5M | 139,900 |
| Apple Inc.$AAPL | 76.4#84 | $94.0M | 324,998 |
| SPDR S&P 500 ETF TRUST$SPYPUT | — | $81.0M | 108,500 |
| SSGA ACTIVE TR - ST STR BLACK ETF | — | $54.0M | 1,933,377 |
| SPDR S&P 500 ETF TRUST$SPY | — | $48.4M | 64,796 |
| NVIDIA CORP$NVDA | 85.9 | $36.0M | 179,783 |
| Apple Inc.$AAPLCALL | 76.4 | $33.1M | 114,300 |
| COSTCO WHOLESALE CORP /NEW$COST | 66.2 | $24.7M | 26,358 |
| TIDAL TRUST I - ZEGA BUY HED ETF | — | $23.6M | 1,002,872 |
 AMAZON COM INC$AMZN | 68.7 | $21.1M | 88,567 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of ZEGA Investments, LLC's 335 positions.
Showing top 10 of 335 holdings.
Sector Allocation
Other
$212.4M
Technology
$205.5M
Consumer Discretionary
$57.2M
Industrials
$34.1M
Financials
$33.2M
Healthcare
$26.7M
Energy
$15.8M
Consumer Staples
$7.8M
Top Holdings — ZEGA Investments, LLC (Q2 2026)
Top 150 of 335 disclosed positions (by reported value) from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $SPYCALL | SPDR S&P 500 ETF TRUST | $104.5M | — | +1% | — |
| 2 | $AAPL | Apple Inc. | $94.0M | 15.7% | -7% | 76.4 |
| 3 | $SPYPUT | SPDR S&P 500 ETF TRUST | $81.0M | — | -7% | — |
| 4 | — | SSGA ACTIVE TR - ST STR BLACK ETF | $54.0M | 9.0% | +2% | — |
| 5 | $SPY | SPDR S&P 500 ETF TRUST | $48.4M | 8.1% | -9% | — |
| 6 | $NVDA | NVIDIA CORP | $36.0M | 6.0% | +6% | 85.9 |
| 7 | $AAPLCALL | Apple Inc. | $33.1M | — | -10% | 76.4 |
| 8 | $COST | COSTCO WHOLESALE CORP /NEW | $24.7M | 4.1% | +15% | 66.2 |
| 9 | — | TIDAL TRUST I - ZEGA BUY HED ETF | $23.6M | 3.9% | -3% | — |
| 10 | $AMZN | AMAZON COM INC | $21.1M | 3.5% | +6% | 68.7 |
| 11 | $NVDACALL | NVIDIA CORP | $20.4M | — | -15% | 85.9 |
| 12 | $COSTCALL | COSTCO WHOLESALE CORP /NEW | $20.1M | — | +14% | 66.2 |
| 13 |  $TSLA | Tesla, Inc. | $15.8M | 2.6% | +12% | 53.9 |
| 14 |  $MSFT | MICROSOFT CORP | $14.2M | 2.4% | +12% | 79.8 |
| 15 |  $MU | MICRON TECHNOLOGY INC | $12.4M | 2.1% | +3109% | 86.2 |
| 16 | $AMZNCALL | AMAZON COM INC | $11.6M | — | +3% | 68.7 |
| 17 |  $QQQPUT | INVESCO QQQ TRUST, SERIES 1 | $9.9M | — | -22% | — |
| 18 |  $XOM.R34088 | EXXON MOBIL CORP | $9.7M | 1.6% | +0% | 57.9 |
| 19 |  $GOOG | Alphabet Inc. | $9.2M | 1.5% | +47% | 78.2 |
| 20 | — | SPDR SERIES TRUST - ST TERM HIGH ETF | $8.3M | 1.4% | -1% | — |
| 21 | — | SSGA ACTIVE ETF TR - ST STR BL LN ETF | $8.1M | 1.3% | -0% | — |
| 22 |  $AFL | AFLAC INC | $8.0M | 1.3% | +0% | 61.3 |
| 23 |  $LLY | ELI LILLY & Co | $8.0M | 1.3% | -15% | 87.5 |
| 24 |  $META | Meta Platforms, Inc. | $7.5M | 1.2% | -5% | 79.6 |
| 25 | $AFLCALL | AFLAC INC | $7.0M | — | +0% | 61.3 |
| 26 |  $ABBV | AbbVie Inc. | $6.4M | 1.1% | -5% | 72.6 |
| 27 | $MSFTCALL | MICROSOFT CORP | $6.0M | — | +69% | 79.8 |
| 28 | $ABBVCALL | AbbVie Inc. | $6.0M | — | -5% | 72.6 |
| 29 | — | GRANITESHARES ETF TR - 2X LONG NVDA ETF | $5.7M | 0.9% | +200% | — |
| 30 |  $UNH | UNITEDHEALTH GROUP INC | $5.1M | 0.8% | +9% | 62.7 |
| 31 | $QQQCALL | INVESCO QQQ TRUST, SERIES 1 | $5.1M | — | -3% | — |
| 32 | $METACALL | Meta Platforms, Inc. | $5.1M | — | +41% | 79.6 |
| 33 |  $GOOGL | Alphabet Inc. | $3.8M | 0.6% | -28% | 78.2 |
| 34 |  $V | VISA INC. | $3.7M | 0.6% | +0% | 82.9 |
| 35 |  $CAT | CATERPILLAR INC | $3.7M | 0.6% | -6% | 66.5 |
| 36 |  $ANET | Arista Networks, Inc. | $3.5M | 0.6% | +168% | 81.9 |
| 37 |  $AVGO | Broadcom Inc. | $3.5M | 0.6% | -4% | 84.5 |
| 38 |  $WMT | Walmart Inc. | $3.2M | 0.5% | -5% | 60.2 |
| 39 | $QQQ | INVESCO QQQ TRUST, SERIES 1 | $3.0M | 0.5% | -1% | — |
| 40 | — | GLOBAL X FDS - US INFR DEV ETF | $3.0M | 0.5% | +57% | — |
| 41 | — | TIDAL TRUST II - YIELDMAX TRGT12 | $2.9M | 0.5% | +39% | — |
| 42 | — | SPDR SERIES TRUST - ST INTER ETF | $2.9M | 0.5% | +23% | — |
| 43 |  $NSC | NORFOLK SOUTHERN CORP | $2.8M | 0.5% | +0% | 63.2 |
| 44 | $NSCCALL | NORFOLK SOUTHERN CORP | $2.8M | — | +0% | 63.2 |
| 45 |  $HD | HOME DEPOT, INC. | $2.7M | 0.5% | +10% | 60.3 |
| 46 |  $AMD | ADVANCED MICRO DEVICES INC | $2.7M | 0.5% | -27% | 79.8 |
| 47 | — | CAPITAL GROUP DIVIDEND VALUE - SHS CREAT UNIT | $2.6M | 0.4% | +18% | — |
| 48 |  $ADP | AUTOMATIC DATA PROCESSING INC | $2.6M | 0.4% | NEW | 69.8 |
| 49 | — | TIDAL TRUST III - FUND GRA MID ETF | $2.6M | 0.4% | +43% | — |
| 50 | $TSLACALL | Tesla, Inc. | $2.5M | — | -58% | 53.9 |
| 51 | $GOOGCALL | Alphabet Inc. | $2.5M | — | +25% | 78.2 |
| 52 |  $JPM | JPMORGAN CHASE & CO | $2.5M | 0.4% | -53% | 70.7 |
| 53 | $WMTCALL | Walmart Inc. | $2.5M | — | -8% | 60.2 |
| 54 | $HDCALL | HOME DEPOT, INC. | $2.5M | — | +11% | 60.3 |
| 55 |  $ABT | ABBOTT LABORATORIES | $2.3M | 0.4% | -10% | 65.5 |
| 56 |  $MCK | MCKESSON CORP | $2.2M | 0.4% | +0% | 63.4 |
| 57 |  $GLDPUT | SPDR GOLD TRUST | $2.2M | — | +27% | — |
| 58 | $ABTCALL | ABBOTT LABORATORIES | $2.2M | — | +114% | 65.5 |
| 59 | $GLD | SPDR GOLD TRUST | $2.2M | 0.4% | -6% | — |
| 60 | — | SPDR SERIES TRUST - ST STR P500ETF | $2.1M | 0.4% | +24% | — |
| 61 | — | TIDAL TRUST II - YIELDMAX TARGET | $2.1M | 0.4% | -15% | — |
| 62 | — | TIDAL TRUST II - DEF 500 INC ETF | $2.1M | 0.3% | +2% | — |
| 63 | — | SPDR SERIES TRUST - ST STR SP AERO | $2.1M | 0.3% | +33% | — |
| 64 |  $BRK.B | BERKSHIRE HATHAWAY INC | $2.0M | 0.3% | +5% | 73.8 |
| 65 | $CATCALL | CATERPILLAR INC | $2.0M | — | +0% | 66.5 |
| 66 | — | ISHARES TR - CORE S&P500 ETF | $1.9M | 0.3% | -12% | — |
| 67 |  $MAR | MARRIOTT INTERNATIONAL INC /MD/ | $1.9M | 0.3% | -9% | 61.7 |
| 68 | — | PACER FDS TR - DEVELOPED MRKT | $1.9M | 0.3% | +31% | — |
| 69 |  $JNJ | JOHNSON & JOHNSON | $1.9M | 0.3% | +18% | 69 |
| 70 | — | SPDR SERIES TRUST - ST STR BLO 1 ETF | $1.9M | 0.3% | +15% | — |
| 71 | — | ISHARES TR - CORE S&P TTL STK | $1.8M | 0.3% | -1% | — |
| 72 |  $IVZ | Invesco Ltd. | $1.6M | 0.3% | +2% | — |
| 73 | — | MADISON ETFS TRUST - SHOR TERM ST ETF | $1.6M | 0.3% | +22% | — |
| 74 |  $MMM | 3M CO | $1.5M | 0.3% | +0% | 64.9 |
| 75 |  $RTX | RTX Corp | $1.5M | 0.3% | +0% | 73.2 |
| 76 |  $ORCL | ORACLE CORP | $1.5M | 0.3% | +44% | 67.9 |
| 77 | $MMMCALL | 3M CO | $1.5M | — | +0% | 64.9 |
| 78 | $RTXCALL | RTX Corp | $1.5M | — | +0% | 73.2 |
| 79 | $IVZCALL | Invesco Ltd. | $1.5M | — | +12% | — |
| 80 | $GLDCALL | SPDR GOLD TRUST | $1.4M | — | +50% | — |
| 81 |  $KO | COCA COLA CO | $1.4M | 0.2% | +1% | 69.5 |
| 82 | $AAPLPUT | Apple Inc. | $1.4M | — | -54% | 76.4 |
| 83 |  $PH | Parker-Hannifin Corp | $1.4M | 0.2% | -10% | 65.8 |
| 84 |  $VLO | VALERO ENERGY CORP/TX | $1.4M | 0.2% | NEW | 57.8 |
| 85 |  $WEC | WEC ENERGY GROUP, INC. | $1.3M | 0.2% | NEW | 60.1 |
| 86 | $WECCALL | WEC ENERGY GROUP, INC. | $1.3M | — | NEW | 60.1 |
| 87 | $AVGOCALL | Broadcom Inc. | $1.3M | — | -10% | 84.5 |
| 88 |  $GLDM | World Gold Trust | $1.3M | 0.2% | -4% | — |
| 89 |  $PLTR | Palantir Technologies Inc. | $1.3M | 0.2% | +33% | 84.6 |
| 90 |  $USB | US BANCORP \DE\ | $1.3M | 0.2% | -19% | 65.3 |
| 91 | $ADPCALL | AUTOMATIC DATA PROCESSING INC | $1.3M | — | NEW | 69.8 |
| 92 |  $PCAR | PACCAR INC | $1.3M | 0.2% | +0% | 56.5 |
| 93 | $VLOCALL | VALERO ENERGY CORP/TX | $1.2M | — | NEW | 57.8 |
| 94 |  $INTC | INTEL CORP | $1.2M | 0.2% | +0% | 45.6 |
| 95 | $USBCALL | US BANCORP \DE\ | $1.2M | — | -19% | 65.3 |
| 96 | — | ISHARES TR - 1 3 YR TREAS BD | $1.2M | 0.2% | NEW | — |
| 97 |  $CVX | CHEVRON CORP | $1.2M | 0.2% | -14% | 62.8 |
| 98 | $MCKCALL | MCKESSON CORP | $1.2M | — | +0% | 63.4 |
| 99 |  $GEV | GE Vernova Inc. | $1.1M | 0.2% | -15% | 81.1 |
| 100 |  $PEP | PEPSICO INC | $1.1M | 0.2% | +0% | 63.4 |
| 101 |  $SYK | STRYKER CORP | $1.1M | 0.2% | +7% | 72.1 |
| 102 | $PEPCALL | PEPSICO INC | $1.1M | — | +0% | 63.4 |
| 103 |  $SBUX | STARBUCKS CORP | $1.1M | 0.2% | -0% | 58.2 |
| 104 | $LLYPUT | ELI LILLY & Co | $1.1M | — | -10% | 87.5 |
| 105 |  $TJX | TJX COMPANIES INC /DE/ | $1.1M | 0.2% | -0% | 68.7 |
| 106 |  $CRWD | CrowdStrike Holdings, Inc. | $1.1M | 0.2% | -45% | 67.7 |
| 107 |  $CB | Chubb Ltd | $1.1M | 0.2% | NEW | — |
| 108 |  $GE | GENERAL ELECTRIC CO | $1.1M | 0.2% | -4% | 73.8 |
| 109 |  $ET | Energy Transfer LP | $1.0M | 0.2% | -3% | 64.4 |
| 110 |  $HOOD | Robinhood Markets, Inc. | $1.0M | 0.2% | +2% | 82.1 |
| 111 |  $ETN | Eaton Corp plc | $1.0M | 0.2% | -12% | — |
| 112 | $ETCALL | Energy Transfer LP | $1.0M | — | -4% | 64.4 |
| 113 | — | VANGUARD INDEX FDS - GROWTH ETF | $1.0M | 0.2% | +500% | — |
| 114 | — | MADISON ETFS TRUST - AGGREGATE BOND | $1.0M | 0.2% | +3% | — |
| 115 | — | EA SERIES TRUST - ALPHA ARCH 1-3 | $1.0M | 0.2% | +135% | — |
| 116 | $SYKCALL | STRYKER CORP | $1.0M | — | +0% | 72.1 |
| 117 |  $AXP | AMERICAN EXPRESS CO | $1.0M | 0.2% | -3% | 69.4 |
| 118 | — | BONDBLOXX ETF TRUST - BLOOMBERG ONE YR | $990,482 | 0.2% | +22% | — |
| 119 |  $CDNS | CADENCE DESIGN SYSTEMS INC | $989,719 | 0.2% | -3% | 72.6 |
| 120 |  $PNC | PNC FINANCIAL SERVICES GROUP, INC. | $988,327 | 0.2% | -1% | 73.7 |
| 121 |  $DE | DEERE & CO | $985,114 | 0.2% | +0% | 55.4 |
| 122 | $PHPUT | Parker-Hannifin Corp | $978,120 | — | NEW | 65.8 |
| 123 | — | TIDAL TRUST I - SOFI SELECT 500 | $970,037 | 0.2% | +2% | — |
| 124 |  $RKLB | Rocket Lab Corp | $965,675 | 0.2% | NEW | 39.9 |
| 125 | — | ISHARES TR - ISHARES SEMICDTR | $961,140 | — | +0% | — |
| 126 | — | ISHARES TR - ISHARES SEMICDTR | $961,140 | — | +0% | — |
| 127 | $GOOGLCALL | Alphabet Inc. | $953,991 | — | -49% | 78.2 |
| 128 |  $PWR | QUANTA SERVICES, INC. | $953,333 | 0.2% | -17% | 72.1 |
| 129 |  $EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | $939,703 | 0.2% | -1% | 61.4 |
| 130 |  $BNY | Bank of New York Mellon Corp | $919,141 | 0.1% | -12% | 74.1 |
| 131 |  $UNP | UNION PACIFIC CORP | $911,472 | 0.1% | +16% | 69.7 |
| 132 |  $APD | Air Products & Chemicals, Inc. | $904,460 | 0.1% | -2% | 46.4 |
| 133 | — | TIDAL TRUST II - DEFIANCE NASDAQ | $881,050 | 0.1% | +11% | — |
| 134 |  $MNST | Monster Beverage Corp | $878,152 | 0.1% | +1% | 71.3 |
| 135 |  $VST | Vistra Corp. | $876,439 | 0.1% | +33% | 71.9 |
| 136 |  $KLAC | KLA CORP | $873,450 | 0.1% | +347% | 78.6 |
| 137 | $RKLBCALL | Rocket Lab Corp | $864,025 | — | NEW | 39.9 |
| 138 |  $OKE | ONEOK INC /NEW/ | $861,923 | 0.1% | +0% | 71.7 |
| 139 |  $UPS | UNITED PARCEL SERVICE INC | $853,120 | 0.1% | +120% | 58.6 |
| 140 |  $GS | GOLDMAN SACHS GROUP INC | $846,542 | 0.1% | -4% | 73.5 |
| 141 |  $TPL | Texas Pacific Land Corp | $845,083 | 0.1% | +53% | 73 |
| 142 |  $NOC | NORTHROP GRUMMAN CORP /DE/ | $841,380 | 0.1% | +9% | 62.9 |
| 143 |  $PKG | PACKAGING CORP OF AMERICA | $838,269 | 0.1% | -1% | 63 |
| 144 |  $MCHP | MICROCHIP TECHNOLOGY INC | $836,122 | 0.1% | -0% | 52.9 |
| 145 |  $BA | BOEING CO | $832,760 | 0.1% | +0% | 61.6 |
| 146 | $MCHPCALL | MICROCHIP TECHNOLOGY INC | $829,920 | — | +0% | 52.9 |
| 147 |  $MCD | MCDONALDS CORP | $828,783 | 0.1% | +2% | 69 |
| 148 | $UPSCALL | UNITED PARCEL SERVICE INC | $817,000 | — | +130% | 58.6 |
| 149 |  $NFLX | NETFLIX INC | $810,104 | 0.1% | +25% | 78.8 |
| 150 |  $PG | PROCTER & GAMBLE Co | $786,671 | 0.1% | -0% | 64.6 |
New Positions (64)
$ADP AUTOMATIC DATA PROCESSING INC$2.6M$VLO VALERO ENERGY CORP/TX$1.4M$WEC WEC ENERGY GROUP, INC.$1.3M$WECCALL WEC ENERGY GROUP, INC.$1.3M$ADPCALL AUTOMATIC DATA PROCESSING INC$1.3M$VLOCALL VALERO ENERGY CORP/TX$1.2M$CB Chubb Ltd$1.1M$PHPUT Parker-Hannifin Corp$978,120$RKLB Rocket Lab Corp$965,675$RKLBCALL Rocket Lab Corp$864,025
$PM Philip Morris International Inc.$748,497
$CF CF Industries Holdings, Inc.$537,186
$SYY SYSCO CORP$529,897Exited Positions (27)
$KMI KINDER MORGAN, INC.
$FANGCALL Diamondback Energy, Inc.$APDCALL Air Products & Chemicals, Inc.$CRWDCALL CrowdStrike Holdings, Inc.$EPDCALL ENTERPRISE PRODUCTS PARTNERS L.P.$PGPUT PROCTER & GAMBLE Co
$HON HONEYWELL INTERNATIONAL INC$HONCALL HONEYWELL INTERNATIONAL INC$INTCCALL INTEL CORPBrowse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
Available Analysis
13F Pro tracks comprehensive institutional data for ZEGA Investments, LLC including:
Track ZEGA Investments, LLC's Full Portfolio
See every holding, quarter-over-quarter changes, sector allocation, and accumulation patterns for ZEGA Investments, LLC and 8,700+ other institutional investors.
Free tier includes full 13F search and fund profiles. Pro starts at $6.67/mo (billed annually).
AI-Powered Hedge Fund Analysis: ZEGA Investments, LLC
13F Pro is an AI hedge fund tracker and stock research platform. For ZEGA Investments, LLC (SEC CIK: 2045703), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in ZEGA Investments, LLC's portfolio is scored on a 32-signal AI quality ranking (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.