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Livermore
Livermore
ZHEN

Zega Financial, LLC

SEC CIK
0001610186
Latest filing
Nov 14, 2024

The latest 13F from Zega Financial, LLC covers Q3 2024 (filed Nov 14, 2024): 108 long positions worth $304.3M. The top 10 holdings make up 65.6% of the portfolio, and the largest is Apple Inc. (AAPL) at 18.3%. Livermore has 4 filings on Form 13F from this institution, going back to Q4 2023.

What changed in Q3 2024

Share counts compared with Q2 2024: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
30
Est. +$12.8M
Added
35
Est. +$25.2M
Reduced
38
Est. −$8.15M
Sold out
28
Est. −$11.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    18.3%$55.8MHistory
  2. SPYSPDR S&P 500 ETF Trust
    9.8%$29.9MHistory
  3. Ssga Active ETF Tr78467V608
    7.5%$22.8M
  4. SPDR Series Trust78468R408
    7.2%$22.0M
  5. Tidal ETF Tr886364660
    5.2%$15.8M

Share of portfolio

Top 5 holdings and the other 103 positions, by share of portfolio value

  1. AAPL18.3%
  2. SPY9.8%
  3. Ssga Active ETF Tr7.5%
  4. SPDR Series Trust7.2%
  5. Tidal ETF Tr5.2%
  6. Other 103 positions51.9%

Biggest buys

New and added positions, by estimated amount bought

  1. AAPLApple Inc.
    +$4.02MAddedHistory
  2. SPYSPDR S&P 500 ETF Trust
    +$3.63MAddedHistory
  3. SPDR Series Trust78468R408
    +$3.44MAdded
  4. AMZNAmazon Com Inc
    +$2.22MAddedHistory
  5. NVDANVIDIA Corp
    +$2.21MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. AAPLApple Inc.
    +1.41 pp16.9% → 18.3%History
  2. SPYSPDR S&P 500 ETF Trust
    +0.81 pp9.0% → 9.8%History
  3. SPDR Series Trust78468R408
    +0.72 pp6.5% → 7.2%
  4. State Street SPDR Portfolio S&P 500 High Dividend ETF78468R788
    +0.49 pp0.0% → 0.5%
  5. UNHUnitedHealth Group Inc
    +0.48 pp1.4% → 1.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CMGChipotle Mexican Grill Inc
    −$936.6KSold outHistory
  2. ProShares Tr74347R107
    −$926.2KSold out
  3. AMDAdvanced Micro Devices Inc
    −$838.1KReducedHistory
  4. NOWServiceNow, Inc.
    −$825.5KReducedHistory
  5. iShares Core S&P Mid-Cap ETF464287507
    −$798.5KSold out

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. FANGDiamondback Energy, Inc.
    −0.80 pp3.4% → 2.6%History
  2. Tidal ETF Tr886364660
    −0.45 pp5.6% → 5.2%
  3. Tidal Trust II88636J659
    −0.40 pp1.5% → 1.1%
  4. CMGChipotle Mexican Grill Inc
    −0.34 pp0.3% → 0.0%History
  5. ProShares Tr74347R107
    −0.33 pp0.3% → 0.0%

Metrics

13F metrics for Q3 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$304.3M
+$27.8M (+10.1%) vs. prior quarter
Positions
108
+2 vs. prior quarter
Top 10 concentration
65.6%
Top 10 as share of value
Turnover
6.7%
Q3 2024, one quarter
Average holding period
3.7 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2023), so positions held before then are understated.

13F filings by quarter

4 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $304.3M (Q3 2024)

Q4 2023: $239.9MQ1 2024: $231.3MQ2 2024: $276.5MQ3 2024: $304.3M
Q4 2023Q3 2024
13F filings of Zega Financial, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2024Nov 14, 2024108$304.3MAAPLSPYSsga Active ETF Trvs. Q2 2024SEC
Q2 2024Aug 12, 2024106$276.5MAAPLSPYSsga Active ETF Trvs. Q1 2024SEC
Q1 2024May 9, 202497$231.3MAAPLSsga Active ETF TrSPYvs. Q4 2023SEC
Q4 2023Feb 14, 2024103$239.9MAAPLSsga Active ETF TrTidal ETF Tr–SEC