Zega Financial, LLC

CIK

1610186

Location

Palm Beach Gardens, FL

Portfolio Value

Small $659,977,540

Diversification

Highly concentrated

Reports for

Tidal Investments LLC Zega Investments

Filing Date

Global Rank

#2,420 / 7,372 ▲ 265 · as of Sep 2024

Top Industry

Consumer Electronics 35.6%

3Y Alpha vs SPY

+23.5%

Period ended 1 year ago

Filed Nov 14, 2024 · 1y

4 quarters · since Dec 2023

Clone Performance

Feb 2024–Apr 2025 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of Zega Financial, LLC's reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 52% that is ordinary stock — as little as 46% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+35.1%

SPY

+7.1%

Annualised alpha

+23.5%

Max drawdown

−18.6%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends. Captured split ratios restate closes onto one basis; only an unusable ratio can exclude earlier closes for that listing. It tracks 52% of reported value on average across 4 quarters.Zega Financial, LLC has stopped filing, so the simulation ends in Apr 2025 — where its last reported portfolio went stale — rather than trading that portfolio forward to today. Past performance does not predict future results.

Portfolio Concentration

81 tracked positions · as of Sep 30, 2024 · Δ vs Jun 30, 2024

Top Position

56.9%

+4.0 pts

Top 5

77.4%

+2.8 pts

Top 10

85.8%

+1.6 pts

HHI

3,388

Highly concentrated+422

Portfolio Trend

4 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2024

Sector	% Portfolio	Value	Positions
Unclassified	74.2%	$489,614,243	23
Technology	14.2%	$93,418,506	15
Energy	2.9%	$18,999,324	6
Consumer Cyclical	2.3%	$15,069,622	3
Healthcare	2.1%	$13,615,027	10
Financial Services	1.8%	$11,715,075	9
Consumer Defensive	1.0%	$6,690,667	4
Communication Services	0.9%	$5,979,626	3
Industrials	0.7%	$4,804,082	6
Basic Materials	0.0%	$71,368	2

Last Quarter's Activity

Export CSV

Sep 30, 2024 vs Jun 30, 2024

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	+159,955	898,372	$24,532,892
SPY	Spdr S&P 500 ETF Trust	+109,025	654,377	$375,455,347
ALLW	SSGA Active Trust State Street Bridgewater All Weather ETF	+49,682	849,882	$31,613,007
AIPO	Defiance AI & Power Infrastructure ETF	+25,480	533,127	$10,970,735
EVMT	Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	+25,180	40,981	$550,374
BBAG	JPMorgan BetaBuilders U.S. Aggregate Bond ETF	+18,350	93,658	$5,308,810
NVDA	Nvidia Corp	+13,094	72,348	$8,785,941
AMZN	Amazon Com Inc	+11,892	63,650	$11,859,904
STT	State Street Corp	+7,491	25,679	$1,163,772
DVVY	Invesco Diversified Dividend Opportunities ETF	+6,763	28,293	$1,419,742
AAAD	PGIM AAA CLO Aggregate Duration ETF	+5,956	25,744	$1,281,536
CAAA	First Trust AAA CMBS ETF	+4,154	21,659	$1,296,724
XOM	ExxonMobil Holdings Corp	+3,975	79,330	$9,299,062
AAPL	Apple Inc.	+3,961	260,283	$60,645,939
FBCG	Fidelity Blue Chip Growth ETF	+3,100	7,507	$380,229
MSFT	Microsoft Corp	+2,287	34,588	$14,883,216
UNH	Unitedhealth Group Inc	+2,184	10,052	$5,877,203
QQQ	Invesco Qqq Trust, Series 1	+1,698	14,508	$7,080,919
TSLA	Tesla, Inc.	+1,435	8,308	$2,173,622
COST	Costco Wholesale Corp /New	+1,038	4,665	$4,135,615
EPD	Enterprise Products Partners L.P.	+344	20,870	$607,525
CVX	Chevron Corp	+153	2,685	$395,419
CAT	Caterpillar Inc	+121	3,625	$1,417,810
GOOGL	Alphabet Inc.	+92	22,156	$3,676,544
V	Visa Inc.	+74	2,356	$647,782
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ACSI	American Customer Satisfaction ETF	−22,496	911,755	$18,470,070
AAAP	Pacer Barings CLO Market Flex ETF	−12,058	40,104	$2,078,842
AAXJ	iShares MSCI All Country Asia ex Japan ETF	−5,910	20,076	$5,839,059
AMD	Advanced Micro Devices Inc	−5,108	2,668	$437,765
AFL	Aflac Inc	−4,078	64,000	$7,155,200
UBER	Uber Technologies, Inc	−3,995	3,830	$287,862
ABBV	AbbVie Inc.	−2,904	1,470	$290,295
XLBI	State Street Materials Select Sector SPDR Premium Income ETF	−2,379	7,761	$1,051,149
ORCL	Oracle Corp	−2,196	5,024	$856,089
JPM	Jpmorgan Chase & Co	−1,277	3,627	$764,789
FANG	Diamondback Energy, Inc.	−1,184	45,254	$7,801,789
NOW	ServiceNow, Inc.	−923	249	$222,703
BWX	State Street SPDR Bloomberg International Treasury Bond ETF	−837	5,217	$275,770
LLY	ELI LILLY & Co	−573	1,748	$1,548,623
META	Meta Platforms, Inc.	−474	2,586	$1,480,329
NFLX	Netflix Inc	−396	1,160	$822,753
ADBE	Adobe Inc.	−379	2,114	$1,094,586
ISRG	Intuitive Surgical Inc	−164	2,020	$992,365
MU	Micron Technology Inc	−150	1,950	$202,234
CRWD	CrowdStrike Holdings, Inc.	−124	3,060	$858,238
PG	PROCTER & GAMBLE Co	−99	4,784	$828,588
PCAR	Paccar Inc	−36	10,500	$1,036,140
TDG	TransDigm Group INC	−19	637	$909,081
WMT	Walmart Inc.	−17	6,106	$493,059
MCK	Mckesson Corp	−11	3,120	$1,542,590
No positions match the current search.

New Positions

Positions the filer opened this quarter

16 positions

Ticker	Company	Shares	Value
AMGN	Amgen Inc	3,202	$1,031,716
USB	US Bancorp \De\	19,818	$906,277
WMB	Williams Companies, Inc.	15,211	$694,382
BLDG	Cambria Global Real Estate ETF	7,918	$573,025
GILD	Gilead Sciences, Inc.	6,047	$506,980
BMY	Bristol Myers Squibb Co	8,382	$433,684
VIG	Vanguard Dividend Appreciation ETF	2,971	$289,434
AXON	Axon Enterprise, Inc.	642	$256,543
GBIL	Goldman Sachs Access Treasury 0-1 Year ETF	4,991	$252,744
AGRH	iShares Interest Rate Hedged U.S. Aggregate Bond ETF	4,972	$252,279
AGGY	WisdomTree Yield Enhanced U.S. Aggregate Bond Fund	4,976	$249,894
CDNS	Cadence Design Systems Inc	893	$242,029
AXP	American Express Co	877	$237,842
MA	Mastercard Inc	442	$218,259
SPGI	S&P Global Inc.	413	$213,364
LDOS	Leidos Holdings, Inc.	1,267	$206,521
No positions match the current search.

Sold Out

Positions the filer fully exited

19 positions

Ticker	Company	Shares	Value
CMG	Chipotle Mexican Grill Inc	14,950	$936,617
EOG	Eog Resources Inc	5,336	$671,642
NVO	Novo Nordisk A S	4,399	$627,913
FDX	Fedex Corp	1,708	$512,126
ANEW	ProShares MSCI Transformational Changes ETF	11,213	$463,096
COIN	Coinbase Global, Inc.	2,000	$444,460
STX	Seagate Technology Holdings plc	3,070	$317,038
EBAY	Ebay Inc	5,627	$302,282
PKG	Packaging Corp Of America	1,600	$292,096
CRM	Salesforce, Inc.	1,050	$269,955
DVN	Devon Energy Corp/De	5,630	$266,862
PRU	Prudential Financial Inc	2,202	$258,052
CAH	Cardinal Health Inc	2,545	$250,224
VZ	Verizon Communications Inc	5,429	$223,891
SWKS	Skyworks Solutions, Inc.	2,100	$223,818
CPB	CAMPBELL'S Co	4,900	$221,431
JPO	YieldMax JP Option Income Strategy ETF	10,329	$202,500
KLAC	Kla Corp	244	$201,180
ECNS	iShares MSCI China Small-Cap ETF	5,085	$110,547
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

81 tracked positions · $659,977,540 total · filing declares 112 positions · $660,014,418 · as of Sep 30, 2024

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology

Showing 1–50 of 81 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT CALL + SHARES	Added	654,377	+109,025	$375,455,347	+26.5%	56.89%
AAPL	Apple Inc. PUT + SHARES Technology	Added	260,283	+3,961	$60,645,939	+12.3%	9.19%
ALLW	SSGA Active Trust State Street Bridgewater All Weather ETF	Added	849,882	+49,682	$31,613,007	+5.8%	4.79%
BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	Added	898,372	+159,955	$24,532,892	+25.2%	3.72%
ACSI	American Customer Satisfaction ETF	Reduced	911,755	-22,496	$18,470,070	+0.7%	2.80%
MSFT	Microsoft Corp Technology	Added	34,588	+2,287	$14,883,216	+3.1%	2.26%
AMZN	Amazon Com Inc Consumer Cyclical	Added	63,650	+11,892	$11,859,904	+18.6%	1.80%
AIPO	Defiance AI & Power Infrastructure ETF	Added	533,127	+25,480	$10,970,735	−10.2%	1.66%
XOM	ExxonMobil Holdings Corp Energy	Added	79,330	+3,975	$9,299,062	+7.2%	1.41%
NVDA	Nvidia Corp Technology	Added	72,348	+13,094	$8,785,941	+20.0%	1.33%
FANG	Diamondback Energy, Inc. Energy	Reduced	45,254	-1,184	$7,801,789	−16.1%	1.18%
AFL	Aflac Inc Financial Services	Reduced	64,000	-4,078	$7,155,200	+17.7%	1.08%
QQQ	Invesco Qqq Trust, Series 1 CALL + SHARES	Added	14,508	+1,698	$7,080,919	+15.4%	1.07%
UNH	Unitedhealth Group Inc Healthcare	Added	10,052	+2,184	$5,877,203	+46.7%	0.89%
AAXJ	iShares MSCI All Country Asia ex Japan ETF	Reduced	20,076	-5,910	$5,839,059	+5.0%	0.88%
BBAG	JPMorgan BetaBuilders U.S. Aggregate Bond ETF	Added	93,658	+18,350	$5,308,810	+36.1%	0.80%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	4,665	+1,038	$4,135,615	+34.1%	0.63%
GOOGL	Alphabet Inc. Communication Services	Added	22,156	+92	$3,676,544	−8.6%	0.56%
TSLA	Tesla, Inc. Consumer Cyclical	Added	8,308	+1,435	$2,173,622	+59.8%	0.33%
AAAP	Pacer Barings CLO Market Flex ETF	Reduced	40,104	-12,058	$2,078,842	−17.5%	0.31%
PANW	Palo Alto Networks Inc Technology	Added	5,997	+48	$2,049,774	+1.6%	0.31%
ANET	Arista Networks, Inc. Technology	Reduced	4,419	-11	$1,696,100	+9.2%	0.26%
LLY	ELI LILLY & Co Healthcare	Reduced	1,748	-573	$1,548,623	−26.3%	0.23%
MCK	Mckesson Corp Healthcare	Reduced	3,120	-11	$1,542,590	−15.6%	0.23%
META	Meta Platforms, Inc. Communication Services	Reduced	2,586	-474	$1,480,329	−4.1%	0.22%
DVVY	Invesco Diversified Dividend Opportunities ETF	Added	28,293	+6,763	$1,419,742	+32.1%	0.22%
CAT	Caterpillar Inc Industrials	Added	3,625	+121	$1,417,810	+21.5%	0.21%
CAAA	First Trust AAA CMBS ETF	Added	21,659	+4,154	$1,296,724	+24.3%	0.20%
AAAD	PGIM AAA CLO Aggregate Duration ETF	Added	25,744	+5,956	$1,281,536	+30.3%	0.19%
KO	Coca Cola Co Consumer Defensive	Added	17,164	+6	$1,233,405	+12.9%	0.19%
STT	State Street Corp Financial Services	Added	25,679	+7,491	$1,163,772	+55.6%	0.18%
ADBE	Adobe Inc. Technology	Reduced	2,114	-379	$1,094,586	−21.0%	0.17%
XLBI	State Street Materials Select Sector SPDR Premium Income ETF	Reduced	7,761	-2,379	$1,051,149	−18.3%	0.16%
PCAR	Paccar Inc Industrials	Reduced	10,500	-36	$1,036,140	−4.5%	0.16%
HD	Home Depot, Inc. Consumer Cyclical	Added	2,557	+1	$1,036,096	+17.8%	0.16%
AMGN	Amgen Inc Healthcare	NEW	3,202	NEW	$1,031,716	NEW	0.16%
JNJ	Johnson & Johnson Healthcare	Held	6,204	0	$1,005,420	+10.9%	0.15%
ISRG	Intuitive Surgical Inc Healthcare	Reduced	2,020	-164	$992,365	+2.1%	0.15%
INTU	Intuit Inc. Technology	Added	1,529	+9	$949,509	−5.0%	0.14%
GWW	W.W. Grainger, Inc. Industrials	Added	888	+21	$922,463	+17.9%	0.14%
TDG	TransDigm Group INC Industrials	Reduced	637	-19	$909,081	+8.5%	0.14%
USB	US Bancorp \De\ Financial Services	NEW	19,818	NEW	$906,277	NEW	0.14%
CRWD	CrowdStrike Holdings, Inc. Technology	Reduced	3,060	-124	$858,238	−29.7%	0.13%
ORCL	Oracle Corp Technology	Reduced	5,024	-2,196	$856,089	−16.0%	0.13%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	4,784	-99	$828,588	+2.9%	0.13%
NFLX	Netflix Inc Communication Services	Reduced	1,160	-396	$822,753	−21.7%	0.12%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	3,627	-1,277	$764,789	−22.9%	0.12%
WMB	Williams Companies, Inc. Energy	NEW	15,211	NEW	$694,382	NEW	0.11%
V	Visa Inc. Financial Services	Added	2,356	+74	$647,782	+8.2%	0.10%
EPD	Enterprise Products Partners L.P. Energy	Added	20,870	+344	$607,525	+2.1%	0.09%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.