ZEGA Investments, LLC

RIA/Wealth

ZEGA Investments, LLC is a RIA/Wealth based in Palm Beach Gardens, FL led by John Alexander Pestrichelli, reporting $548.8M in AUM as of Q3 2025 with 36% ETF concentration, 61% concentrated in top 10 holdings, and 16% allocation to AAPL.

CEOJohn Alexander Pestrichelli

Portfolio Value: $433.7M
Positions: 134
Top Holding: AAPL at 15.77%
Last Reported: Q3 2025

Address3801 Pga Boulevard, Suite 600, Palm Beach Gardens, FL, 33410, United States

Top Holdings

Largest long holdings in ZEGA Investments, LLC's portfolio (60.9% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Apple AAPL	Consumer Electronics Technology	$68.4M	15.77%	+$1.1M Bought	0.00% 268.6K shares	Q4 2024 Held for 11 months
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$40.0M	9.23%	-$5.1M Sold	— 60.1K shares	Q4 2024 Held for 11 months
3 SPDR Blackstone High Income HYBL	ETF ETF	$36.7M	8.45%	+$2.6M Bought	— 1.3M shares	Q4 2024 Held for 11 months
4 Nvidia NVDA	Semiconductors Technology	$24.7M	5.70%	+$6.6M Bought	0.00% 132.5K shares	Q4 2024 Held for 11 months
5 ZHDG Zega Buy & Hedge ZHDG	ETF ETF	$17.7M	4.08%	+$3.0M Bought	— 778.9K shares	Q4 2024 Held for 11 months
6 Microsoft MSFT	Software - Infrastructure Technology	$17.6M	4.07%	+$1.6M Bought	0.00% 34.1K shares	Q4 2024 Held for 11 months
7 Amazon AMZN	Specialty Retail Consumer Cyclical	$17.2M	3.96%	-$1.5M Sold	0.00% 78.1K shares	Q4 2024 Held for 11 months
8 SPDR Bloomberg Short Term High Yield Bond SJNK	ETF ETF	$15.4M	3.54%	-$15.5K Sold	— 600.3K shares	Q4 2024 Held for 11 months
9 SPDR Blackstone Senior Loan SRLN	ETF ETF	$14.9M	3.42%	+$227.5K Bought	— 357.2K shares	Q4 2024 Held for 11 months
10 Costco Wholesale COST	Discount Stores Consumer Defensive	$11.7M	2.69%	+$6.7M Bought	0.00% 12.6K shares	Q4 2024 Held for 11 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in ZEGA Investments, LLC's latest filing

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Market Value

$433.7M

Prior: $396.8M

Q/Q Change

+9.3%

+$36.9M

Net Flows % of MV

-0.715%

Turnover Ratio

15.75%

New Purchases

27 stocks

$23.0M

Added To

54 stocks

+$40.1M

Sold Out Of

25 stocks

$35.5M

Reduced Holdings

36 stocks

-$30.7M

Increased Positions

Position	Shares Δ	Change
1 Norfolk Southern NSC	New	0 → 8.9K +$2.7M
2 GLDM SPDR Gold MiniShares Trust GLDM	New	0 → 21.6K +$1.7M
3 Parker-Hannifin PH	New	0 → 1.9K +$1.4M
4 Lam Research LRCX	New	0 → 8.8K +$1.2M
5 KLA Corporation KLAC	New	0 → 1.1K +$1.1M

Decreased Positions

Position	Shares Δ	Change
1 FT Vest S&P 500 Dividend Aristocrats Target Income KNG	Sold	77.8K → 0 −$3.8M
2 Invesco Ultra Short Duration GSY	Sold	67.6K → 0 −$3.4M
3 First Trust Enhanced Short Maturity ETF FTSM	Sold	49.9K → 0 −$3.0M
4 Schwab U.S. Large-Cap Value SCHV	Sold	107.7K → 0 −$3.0M
5 PULS PGIM Ultra Short Bond PULS	Sold	59.0K → 0 −$2.9M