ZEGA Investments, LLC holds a focused book of 215 stocks worth $599.9M as of Q2 2026 (disclosed Jul 31, 2026, a ~45-day 13F lag). This quarter they opened Automatic Data Processing and trimmed Apple Inc. Their largest long position is Apple Inc at 16% of the equity book. They also disclosed $100.3M in put options (a bearish bet) and $272.8M in call options (bullish), shown separately below and excluded from the equity book. Cloning the disclosed picks since 2025 would be +6% (+7.6%/yr). That is a simulation of the disclosed long book, not audited returns.
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Use Arkolith to show ZEGA Investments, LLC's latest holdings, largest changes, and filing provenance.
Growth of $10,000 cloning ZEGA Investments, LLC's disclosed long 13F book, rebalanced on each filing date (so it reflects the ~45-day reporting lag, no look-ahead), total-return basis (dividends reinvested), derived from end-of-day prices. “Their reported book” values the same picks from quarter-end, before they were public. S&P 500 is SPY total return over the same window. Excludes shorts, cash, options and non-13F holdings. Not investment advice.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
64% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
Other tracked managers holding the same core names as ZEGA Investments, LLC
| Manager / fund | Shared names | Their $ in those |
|---|---|---|
| ROYAL BANK OF CANADA | 75 / 80 | $176.4B |
| OSAIC HOLDINGS, INC. | 75 / 80 | $18.9B |
| MORGAN STANLEY | 74 / 80 | $621.9B |
| UBS Group AG | 74 / 80 | $161.1B |
| HighTower Advisors, LLC | 74 / 80 | $31.0B |
| NewEdge Advisors, LLC | 74 / 80 | $9.3B |
| Advisory Services Network, LLC | 74 / 80 | $2.4B |
| WELLS FARGO & COMPANY/MN | 73 / 80 | $176.9B |
Ranked by how many of ZEGA Investments, LLC's top 80 disclosed names each fund also holds: a cross-fund conviction signal from the latest 13F of every tracked manager.
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Apple Inc COM | $94.0M | 325.0K | 15.7% | ▼−6.8% Reduced · −24K sh | |
| 2 | Ssga Active TR ST STR BLACK ETF | $54.0M | 1.93M | 9.0% | ▲+2.0% Added · +38K sh | |
| 3 | State STR SPDR S&P 500 ETF T TR UNIT | $48.4M | 64.8K | 8.1% | ▼−9.2% Reduced · −7K sh | |
| 4 | Nvidia Corporation COM | $36.0M | 179.8K | 6.0% | ▲+5.9% Added · +10K sh | |
| 5 | Costco Wholesale Corporation COM | $24.7M | 26.4K | 4.1% | ▲+15% Added · +4K sh | |
| 6 | Tidal Trust I ZEGA BUY HED ETF | $23.6M | 1.00M | 3.9% | ▼−3.2% Reduced · −34K sh | |
| 7 | Amazon Com Inc COM | $21.1M | 88.6K | 3.5% | ▲+6.0% Added · +5K sh | |
| 8 | Tesla Inc COM | $15.8M | 37.5K | 2.6% | ▲+12% Added · +4K sh | |
| 9 | Microsoft Corp COM | $14.2M | 38.1K | 2.4% | ▲+12% Added · +4K sh | |
| 10 | Micron Technology Inc COM | $12.4M | 10.8K | 2.1% | ▲32× Added · +10K sh | |
| 11 | Exxon Mobil Corp COM | $9.7M | 71.2K | 1.6% | ▲+0.3% Added · +200 sh | |
| 12 | Alphabet Inc CAP STK CL A | $9.2M | 25.8K | 1.5% | ▲+47% Added · +8K sh | |
| 13 | SPDR Series Trust ST TERM HIGH ETF | $8.3M | 333.3K | 1.4% | ▼−1.1% Reduced · −4K sh | |
| 14 | Ssga Active ETF TR ST STR BL LN ETF | $8.1M | 199.8K | 1.3% | ▼−0.1% Reduced · −262 sh | |
| 15 | Aflac Inc COM | $8.0M | 68.1K | 1.3% | ▲~0% Added · +21 sh | |
| 16 | Eli Lilly & Co COM | $8.0M | 6.6K | 1.3% | ▼−15% Reduced · −1K sh | |
| 17 | Meta Platforms Inc CL A | $7.5M | 13.2K | 1.2% | ▼−5.5% Reduced · −767 sh | |
| 18 | Abbvie Inc COM | $6.4M | 25.5K | 1.1% | ▼−4.9% Reduced · −1K sh | |
| 19 | Graniteshares ETF TR 2X LONG NVDA ETF | $5.7M | 190.4K | 0.9% | ▲+200% Added · +127K sh | |
| 20 | Unitedhealth Group Inc COM | $5.1M | 12.2K | 0.8% | ▲+9.3% Added · +1K sh | |
| 21 | Alphabet Inc CAP STK CL C | $3.8M | 10.9K | 0.6% | ▼−28% Reduced · −4K sh | |
| 22 | Visa Inc COM CL A | $3.7M | 10.8K | 0.6% | ▲~0% Added · +1 sh | |
| 23 | Caterpillar Inc COM | $3.7M | 3.4K | 0.6% | ▼−5.5% Reduced · −203 sh | |
| 24 | Arista Networks Inc COM SHS | $3.5M | 20.8K | 0.6% | ▲+168% Added · +13K sh | |
| 25 | Broadcom Inc COM | $3.5M | 9.3K | 0.6% | ▼−4.0% Reduced · −393 sh | |
| 26 | Walmart Inc COM | $3.2M | 28.4K | 0.5% | ▼−4.9% Reduced · −1K sh | |
| 27 | Invesco QQQ TR UNIT SER 1 | $3.0M | 4.1K | 0.5% | ▼−0.6% Reduced · −25 sh | |
| 28 | Global X FDS US INFR DEV ETF | $3.0M | 50.6K | 0.5% | ▲+57% Added · +18K sh | |
| 29 | Tidal Trust II YIELDMAX TRGT12 | $2.9M | 56.3K | 0.5% | ▲+39% Added · +16K sh | |
| 30 | SPDR Series Trust ST INTER ETF | $2.9M | 100.8K | 0.5% | ▲+23% Added · +19K sh | |
| 31 | Norfolk Southn Corp COM | $2.8M | 8.9K | 0.5% | —Held | |
| 32 | Home Depot Inc COM | $2.7M | 7.8K | 0.5% | ▲+10% Added · +728 sh | |
| 33 | Advanced Micro Devices Inc COM | $2.7M | 4.7K | 0.5% | ▼−27% Reduced · −2K sh | |
| 34 | Capital Group Dividend Value SHS CREAT UNIT | $2.6M | 52.7K | 0.4% | ▲+18% Added · +8K sh | |
| 35 | Automatic Data Processing In COM | $2.6M | 11.6K | 0.4% | ▲New New position | |
| 36 | Tidal Trust III FUND GRA MID ETF | $2.6M | 81.5K | 0.4% | ▲+43% Added · +24K sh | |
| 37 | JPMorgan Chase & Co COM | $2.5M | 7.6K | 0.4% | ▼−53% Reduced · −9K sh | |
| 38 | Abbott Laboratories COM | $2.3M | 25.7K | 0.4% | ▼−9.6% Reduced · −3K sh | |
| 39 | McKesson Corp COM | $2.2M | 3.0K | 0.4% | ▲+0.1% Added · +3 sh | |
| 40 | SPDR Gold TR GOLD SHS | $2.2M | 6.0K | 0.4% | ▼−6.5% Reduced · −417 sh | |
| 41 | SPDR Series Trust ST STR P500ETF | $2.1M | 24.4K | 0.4% | ▲+24% Added · +5K sh | |
| 42 | Tidal Trust II YIELDMAX TARGET | $2.1M | 18.7K | 0.4% | ▼−15% Reduced · −3K sh | |
| 43 | Tidal Trust II DEF 500 INC ETF | $2.1M | 118.9K | 0.3% | ▲+2.0% Added · +2K sh | |
| 44 | SPDR Series Trust ST STR SP AERO | $2.1M | 7.2K | 0.3% | ▲+33% Added · +2K sh | |
| 45 | Berkshire Hathaway Inc Del CL B NEW | $2.0M | 4.0K | 0.3% | ▲+4.8% Added · +187 sh | |
| 46 | Ishares TR CORE S&P500 ETF | $1.9M | 2.6K | 0.3% | ▼−12% Reduced · −341 sh | |
| 47 | Marriott Intl Inc New CL A | $1.9M | 5.2K | 0.3% | ▼−9.1% Reduced · −519 sh | |
| 48 | Pacer FDS TR DEVELOPED MRKT | $1.9M | 46.1K | 0.3% | ▲+31% Added · +11K sh | |
| 49 | Johnson & Johnson COM | $1.9M | 7.5K | 0.3% | ▲+18% Added · +1K sh | |
| 50 | SPDR Series Trust ST STR BLO 1 ETF | $1.9M | 20.7K | 0.3% | ▲+15% Added · +3K sh |
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| CALL · bullish | SS SPDR S&P 500 ETF TRUST-USSPY | $104.5M | 140K |
| PUT · bearish | SS SPDR S&P 500 ETF TRUST-USSPY | $81.0M | 109K |
| CALL · bullish | APPLE INCAAPL | $33.1M | 114K |
| CALL · bullish | NVIDIA CORPNVDA | $20.4M | 102K |
| CALL · bullish | COSTCO WHOLESALE CORPCOST | $20.1M | 22K |
| CALL · bullish | AMAZON.COM INCAMZN | $11.6M | 49K |
| PUT · bearish | INVESCO QQQ TRUST SERIES 1QQQ | $9.9M | 13K |
| CALL · bullish | AFLAC INCAFL | $7.0M | 59K |
| CALL · bullish | MICROSOFT CORPMSFT | $6.0M | 16K |
| CALL · bullish | ABBVIE INCABBV | $6.0M | 24K |
| CALL · bullish | INVESCO QQQ TRUST SERIES 1QQQ | $5.1M | 7K |
| CALL · bullish | META PLATFORMS INC-CLASS AMETA | $5.1M | 9K |
| CALL · bullish | NORFOLK SOUTHERN CORPNSC | $2.8M | 9K |
| CALL · bullish | TESLA INCTSLA | $2.5M | 6K |
| CALL · bullish | ALPHABET INC-CL AGOOGL | $2.5M | 7K |
| CALL · bullish | WALMART INCWMT | $2.5M | 22K |
| CALL · bullish | HOME DEPOT INCHD | $2.5M | 7K |
| PUT · bearish | SPDR GOLD SHARESGLD | $2.2M | 6K |
| CALL · bullish | ABBOTT LABORATORIESABT | $2.2M | 25K |
| CALL · bullish | CATERPILLAR INCCAT | $2.0M | 2K |
| CALL · bullish | 3M COMMM | $1.5M | 9K |
| CALL · bullish | RTX CORPRTX | $1.5M | 8K |
| CALL · bullish | INVESCO NASDAQ 100 ETFQQQM | $1.5M | 5K |
| CALL · bullish | SPDR GOLD SHARESGLD | $1.4M | 4K |
| PUT · bearish | APPLE INCAAPL | $1.4M | 5K |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above. Showing the largest 25 of 120 option legs.
As-of date vs the date the SEC received each filing
Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. The performance line is a simulation of the disclosed long book, not an audited return.