Zega Financial, LLC

Registered adviser

CIK

1610186

Location

Palm Beach Gardens, FL

Portfolio Value

Small $649,632,290

Diversification

Highly concentrated

Reports for

Tidal Investments LLC Zega Investments

Filing Date

Global Rank

#2,682 / 7,447 ▲ 163 · as of Sep 2024

Top Industry

Consumer Electronics 35.6%

Period ended 2 years ago

Filed Nov 14, 2024 · 1y

4 quarters · since Dec 2023

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 330428

Roster of Nov 1, 2026

Regulatory AUM

$614,016,453

Main clients

Other investment advisers (78% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$614,016,453	Other investment advisers (78%)
Apr 2025 to Mar 2026	$548,799,511	Individuals and high net worth (100%)
Sep 2024 to Mar 2025	$508,065,847	Individuals and high net worth (100%)
Jun 2024 to Aug 2024	$0	—

13F reports continue under

ZEGA Investments, LLC from Dec 31, 2024

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2024, never from the firm's own description.

Style

Concentrated

The top 10 positions are 72.4% of the book (60%+)

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Short horizon

Value-weighted holding period 3.8 quarters (under 4)

Closest benchmark: the S&P 500 as of 2024-09-30, active share 67.4%; sector active share 40.3% against the combined 13F book's sector weights.

Over time 4 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

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

Top Position

57.8%

+3.9 pts

Top 5

78.6%

+2.6 pts

Top 10

86.7%

+1.6 pts

HHI

3,494

Highly concentrated+412

Portfolio Trend

4 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2024

Sector	% Portfolio	Value	Positions
Unclassified	73.8%	$479,268,993	49
Technology	14.4%	$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	4
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
—		+133,401	854,415	$22,001,186
SPYT	Defiance S&P 500 Income Target ETF	+78,590	137,353	$0
HYBL	State Street(R) Blackstone High Income ETF	+33,650	296,581	$8,513,357
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	+25,180	40,981	$550,374
NVDA	Nvidia Corp	+18,194	72,348	$8,785,941
AAPL	Apple Inc.	+17,261	239,383	$55,776,239
AMZN	Amazon Com Inc	+11,892	63,650	$11,859,904
SRLN	State Street(R) Blackstone Senior Loan ETF	+9,707	546,976	$22,841,717
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	+7,714	24,896	$1,195,754
XLF	State Street Corp	+7,491	25,679	$1,163,772
JPST	JPMorgan Ultra-Short Income ETF	+7,047	30,205	$1,532,601
GSY	Invesco Ultra Short Duration ETF	+6,763	28,293	$1,419,742
SPY	Spdr S&P 500 ETF Trust	+6,325	52,077	$29,879,699
PULS	PGIM Ultra Short Bond ETF	+5,956	25,744	$1,281,536
—		+4,659	140,123	$2,653,929
FTSM	First Trust Enhanced Short Maturity ETF	+4,154	21,659	$1,296,724
XOM	ExxonMobil Holdings Corp	+3,975	79,330	$9,299,062
FDVV	Fidelity High Dividend 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
TSLA	Tesla, Inc.	+1,435	8,308	$2,173,622
COST	Costco Wholesale Corp	+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
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
QQQY	Defiance Nasdaq 100 Weekly Distribution ETF	−37,950	7,688	$0
IWMY	Defiance R2000 Weekly Distribution ETF	−32,967	15,099	$0
—		−27,155	771,632	$15,816,141
YMAX	YieldMax(R) Universe Fund of Option Income ETFs	−23,782	191,200	$0
FIAX	Nicholas Fixed Income Alternative ETF	−12,512	27,506	$0
CALF	Pacer US Small Cap Cash Cows 100 ETF	−8,335	21,253	$988,689
NFLY	YieldMax(R) Nflx Option Income Strategy ETF	−6,760	11,524	$0
—		−6,028	11,375	$1,044,338
AMD	Advanced Micro Devices Inc	−5,108	2,668	$437,765
ULTY	YieldMax(R) Ultra Option Income Strategy ETF	−4,847	14,666	$0
AFL	Aflac Inc	−4,078	64,000	$7,155,200
UBER	Uber Technologies, Inc	−3,995	3,830	$287,862
COWZ	Pacer US Cash Cows 100 ETF	−3,723	18,851	$1,090,153
ABBV	AbbVie Inc.	−2,904	1,470	$290,295
JEPI	JPMorgan Equity Premium Income ETF	−2,691	32,277	$1,920,804
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
SPYV	State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF	−837	5,217	$275,770
LLY	ELI LILLY & Co	−573	1,748	$1,548,623
NVDY	YieldMax(R) Nvda Option Income Strategy ETF	−501	14,403	$0
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
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
—		32,582	$1,487,368
AMGN	Amgen Inc	3,202	$1,031,716
USB	US Bancorp De	19,818	$906,277
WMB	Williams Companies, Inc.	15,211	$694,382
IJR	iShares Core S&P Small-Cap ETF	5,819	$680,590
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity ETF	6,280	$659,651
SYLD	Cambria Shareholder Yield ETF	7,918	$573,025
GILD	Gilead Sciences, Inc.	6,047	$506,980
BMY	Bristol Myers Squibb Co	8,382	$433,684
VNQ	VANGUARD REAL ESTATE INDEX FUND	2,971	$289,434
ULST	State Street(R) Ultra Short Term Bond ETF	6,325	$257,933
AXON	Axon Enterprise, Inc.	642	$256,543
GSST	Goldman Sachs Ultra Short Bond ETF	4,991	$252,744
ICSH	iShares Ultra Short Duration Bond Active ETF	4,972	$252,279
USFR	WisdomTree Floating Rate Treasury 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
IEF	iShares 7-10 Year Treasury Bond ETF	2,060	$202,127
USOY	Defiance Oil Enhanced Options Income ETF	11,213	$0
WDTE	Defiance S&P 500 Weekly Distribution ETF	8,313	$0
QQQT	Defiance Nasdaq 100 Income Target ETF	40,392	$0
CONY	YieldMax(R) Coin Option Income Strategy ETF	12,494	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

24 positions

Ticker	Company	Shares	Value
CMG	Chipotle Mexican Grill Inc	14,950	$936,617
SSO	ProShares Ultra S&P500	11,213	$926,193
IJH	iShares Core S&P Mid-Cap ETF	13,645	$798,505
EOG	Eog Resources Inc	5,336	$671,642
NVO	Novo Nordisk A S	4,399	$627,913
FDX	Fedex Corp	1,708	$512,126
STX	Seagate Technology Holdings plc	3,070	$317,038
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	2,158	$314,528
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	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
—		10,329	$202,500
KLAC	Kla Corp	244	$201,180
—		5,085	$110,547
APLY	YieldMax(R) Aapl Option Income Strategy ETF	13,703	$0
XOMO	YieldMax(R) Xom Option Income Strategy ETF	11,758	$0
MSFO	YieldMax(R) Msft Option Income Strategy ETF	9,908	$0
GOOY	YieldMax(R) Googl Option Income Strategy ETF	12,110	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

108 tracked positions · $649,632,290 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 108 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT CALL + SHARES	Added	654,377	+109,025	$375,455,347	+26.5%	4	before history	57.80%
AAPL	Apple Inc. PUT + SHARES Technology	Added	260,283	+3,961	$60,645,939	+12.3%	4	before history	9.34%
SRLN	State Street(R) Blackstone Senior Loan ETF	Added	546,976	+9,707	$22,841,717	+1.7%	4	before history	3.52%
		Added	854,415	+133,401	$22,001,186	+22.2%	4	before history	3.39%
		Reduced	771,632	-27,155	$15,816,141	+1.3%	4	before history	2.43%
MSFT	Microsoft Corp Technology	Added	34,588	+2,287	$14,883,216	+3.1%	4	before history	2.29%
AMZN	Amazon Com Inc Consumer Cyclical	Added	63,650	+11,892	$11,859,904	+18.6%	4	before history	1.83%
XOM	ExxonMobil Holdings Corp Energy	Added	79,330	+3,975	$9,299,062	+7.2%	4	before history	1.43%
NVDA	Nvidia Corp Technology	Added	72,348	+13,094	$8,785,941	+20.0%	4	before history	1.35%
HYBL	State Street(R) Blackstone High Income ETF	Added	296,581	+33,650	$8,513,357	+14.6%	4	before history	1.31%
FANG	Diamondback Energy, Inc. Energy	Reduced	45,254	-1,184	$7,801,789	−16.1%	4	before history	1.20%
AFL	Aflac Inc Financial Services	Reduced	64,000	-4,078	$7,155,200	+17.7%	4	before history	1.10%
QQQ	Invesco Qqq Trust, Series 1 CALL + SHARES	Added	14,508	+1,698	$7,080,919	+15.4%	4	before history	1.09%
UNH	Unitedhealth Group Inc Healthcare	Added	10,052	+2,184	$5,877,203	+46.7%	4	before history	0.90%
IVV	iShares Core S&P 500 ETF	Reduced	7,589	-107	$4,377,486	+3.9%	4	before history	0.67%
COST	Costco Wholesale Corp Consumer Defensive	Added	4,665	+1,038	$4,135,615	+34.1%	4	before history	0.64%
GOOGL	Alphabet Inc. Communication Services	Added	20,684	+92	$3,430,441	−8.5%	4	before history	0.53%
		Added	140,123	+4,659	$2,653,929	−2.7%	4	before history	0.41%
TSLA	Tesla, Inc. Consumer Cyclical	Added	8,308	+1,435	$2,173,622	+59.8%	4	before history	0.33%
PANW	Palo Alto Networks Inc Technology	Added	5,997	+48	$2,049,774	+1.6%	4	before history	0.32%
JEPI	JPMorgan Equity Premium Income ETF	Reduced	32,277	-2,691	$1,920,804	−3.1%	4	before history	0.30%
ANET	Arista Networks, Inc. Technology	Reduced	4,419	-11	$1,696,100	+9.2%	4	before history	0.26%
LLY	ELI LILLY & Co Healthcare	Reduced	1,748	-573	$1,548,623	−26.3%	2	$799.92	0.24%
MCK	Mckesson Corp Healthcare	Reduced	3,120	-11	$1,542,590	−15.6%	2	$556.70	0.24%
JPST	JPMorgan Ultra-Short Income ETF	Added	30,205	+7,047	$1,532,601	+31.1%	2	$50.40	0.24%
		NEW	32,582	NEW	$1,487,368	NEW	1	$43.43	0.23%
META	Meta Platforms, Inc. Communication Services	Reduced	2,586	-474	$1,480,329	−4.1%	4	before history	0.23%
GSY	Invesco Ultra Short Duration ETF	Added	28,293	+6,763	$1,419,742	+32.1%	2	$49.97	0.22%
CAT	Caterpillar Inc Industrials	Added	3,625	+121	$1,417,810	+21.5%	4	before history	0.22%
FTSM	First Trust Enhanced Short Maturity ETF	Added	21,659	+4,154	$1,296,724	+24.3%	2	$59.74	0.20%
PULS	PGIM Ultra Short Bond ETF	Added	25,744	+5,956	$1,281,536	+30.3%	2	$49.61	0.20%
KO	Coca Cola Co Consumer Defensive	Added	17,164	+6	$1,233,405	+12.9%	2	$61.90	0.19%
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	Added	24,896	+7,714	$1,195,754	+59.6%	2	$44.57	0.18%
XLF	State Street Corp Financial Services	Added	25,679	+7,491	$1,163,772	+55.6%	2	$41.88	0.18%
ADBE	Adobe Inc. Technology	Reduced	2,114	-379	$1,094,586	−21.0%	2	$484.22	0.17%
COWZ	Pacer US Cash Cows 100 ETF	Reduced	18,851	-3,723	$1,090,153	−11.4%	4	before history	0.17%
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF	Reduced	7,761	-221	$1,051,149	+8.1%	3	unpriced	0.16%
		Reduced	11,375	-6,028	$1,044,338	−34.6%	4	before history	0.16%
PCAR	Paccar Inc Industrials	Reduced	10,500	-36	$1,036,140	−4.5%	2	$110.23	0.16%
HD	Home Depot, Inc. Consumer Cyclical	Added	2,557	+1	$1,036,096	+17.8%	4	before history	0.16%
AMGN	Amgen Inc Healthcare	NEW	3,202	NEW	$1,031,716	NEW	1	$327.11	0.16%
JNJ	Johnson & Johnson Healthcare	Held	6,204	0	$1,005,420	+10.9%	4	before history	0.15%
ISRG	Intuitive Surgical Inc Healthcare	Reduced	2,020	-164	$992,365	+2.1%	4	before history	0.15%
CALF	Pacer US Small Cap Cash Cows 100 ETF	Reduced	21,253	-8,335	$988,689	−23.3%	3	$47.55	0.15%
INTU	Intuit Inc. Technology	Added	1,529	+9	$949,509	−5.0%	3	$633.32	0.15%
GWW	W.W. Grainger, Inc. Industrials	Added	888	+21	$922,463	+17.9%	4	before history	0.14%
TDG	TransDigm Group INC Industrials	Reduced	637	-19	$909,081	+8.5%	4	before history	0.14%
USB	US Bancorp De Financial Services	NEW	19,818	NEW	$906,277	NEW	1	$43.86	0.14%
CRWD	CrowdStrike Holdings, Inc. Technology	Reduced	3,060	-124	$858,238	−29.7%	3	$311.36	0.13%
ORCL	Oracle Corp Technology	Reduced	5,024	-2,196	$856,089	−16.0%	4	before history	0.13%

Showing the top 50 of 108 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

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.