Zega Investments, LLC
ZEGA Investments, LLC is an SEC-registered investment adviser headquartered in Plano, TX. Founded in 2011, the firm offers progressive, options-based investment strategies with over 75 years of combined management experience among its principals. ZEGA serves institutions and individual investors seeking risk-managed equity exposure. The firm has approximately 10 employees and is recognized in prominent financial media outlets.
Investment Strategy
ZEGA Investments specializes in options-based investing, using sophisticated derivatives strategies to manage risk and generate returns. The firm focuses on risk/reward optimization, utilizing options calculus to protect portfolios from market volatility while aiming for consistent returns. Their approach is described as progressive and forward-thinking in strategy, but disciplined and conservative in risk management, with a strong ethical commitment to acting in clients' best interests.
Top Holdings
Equity Positions (119)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A AAPL | APPLE INC | 7.40% | $54.2M | 264,275 | $245.96 | $205.17 | -$2.1M |
S SPY | SPDR S&P 500 ETF TR | 5.71% | $41.8M | 67,716 | $590.85 | $617.85 | +$10.8M |
H HYBL | SSGA ACTIVE TR | 4.63% | $33.9M | 1,187,291 | $28.52 | $28.59 | +$24.2M |
A AMZN | AMAZON COM INC | 2.54% | $18.6M | 84,789 | $214.53 | $219.39 | +$2.4M |
M MSFT | MICROSOFT CORP | 2.10% | $15.4M | 30,970 | $428.54 | $497.41 | +$4.9M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Bought | Put | $128.8M | 2,085 | $617.85 | $587.50 | +93 | +$17.4M |
S SPY | SPDR S&P 500 ETF TR | Sold | Call | $111.6M | 1,807 | $617.85 | $586.08 | -217 | -$1.6M |
A AAPL | APPLE INC | Bought | Call | $30.8M | 1,499 | $205.17 | $230.31 | +129 | +$323.2K |
A AMZN | AMAZON COM INC | Bought | Call | $17.7M | 807 | $219.39 | $209.21 | +237 | +$6.9M |
A AAPL | APPLE INC | Sold | Put | $8.4M | 410 | $205.17 | $246.63 | -172 | -$4.5M |