Vault-13

TIDAL ETF TR ZHDG

ZEGA BUY AND HED · ETP · CUSIP 886364660

15 institutional holders +1 vs Q1 2025
1,627,0371.6m shares reported held*
$34.6mreported value*
1 new 6 added 6 reduced 0 sold out net sold ≈ $580.3k (-27.2k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $21.29.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01020Q3 22: 13Q4 22: 12Q1 23: 13Q2 23: 12Q3 23: 11Q4 23: 16Q1 24: 14Q2 24: 12Q3 24: 13Q4 24: 11Q1 25: 14Q2 25: 1515Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202213
Q4 202212
Q1 202313
Q2 202312
Q3 202311
Q4 202316
Q1 202414
Q2 202412
Q3 202413
Q4 202411
Q1 202514
Q2 202515

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q3 23: 5 bought or addedQ3 23: 7 cut or sold outQ4 23: 7 bought or addedQ4 23: 7 cut or sold outQ4 23Q1 24: 3 bought or addedQ1 24: 12 cut or sold outQ2 24: 4 bought or addedQ2 24: 9 cut or sold outQ2 24Q3 24: 5 bought or addedQ3 24: 9 cut or sold outQ4 24: 3 bought or addedQ4 24: 8 cut or sold outQ4 24Q1 25: 6 bought or addedQ1 25: 7 cut or sold outQ2 25: 7 bought or addedQ2 25: 6 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 202357
Q4 202377
Q1 2024312
Q2 202449
Q3 202459
Q4 202438
Q1 202567
Q2 202576

Biggest buyers

JANE STREET GROUP, LLC Added +83,364+83.4k
Coppell Advisory Solutions LLC Added +65,446+65.4k
GTS SECURITIES LLC New +19,395+19.4k
OLD MISSION CAPITAL LLC Added +7,492+7.5k
Optivise Advisory Services LLC Added +4,015+4.0k
UBS Group AG Added +1,804+1.8k
Royal Fund Management, LLC Added +740+740

Biggest sellers

ZEGA Investments, LLC Reduced -121,213-121.2k
Allen Capital Group, LLC Reduced -75,347-75.3k
Virtue Capital Management, LLC Reduced -11,366-11.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -1,035-1.0k
Nicholas Wealth, LLC. Reduced -442-442
WorthPointe, LLC Reduced -85-85

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ZEGA Investments, LLC 3.46% of their portfolio PALM BEACH GARDENS, FL 647,649647.6k $13.8m $13.8m 3.46% Reduced -121.2k -121,213
2 Allen Capital Group, LLC 1.05% of their portfolio GRAND ISLAND, NE 474,969475.0k $10.1m $10.1m 1.05% Reduced -75.3k -75,347
3 Coppell Advisory Solutions LLC 0.26% of their portfolio COPPELL, TX 170,726170.7k $3.6m $3.6m 0.26% Added +65.4k +65,446
4 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 100,023100.0k $2.1m $2.1m 0.00% Added +83.4k +83,364
5 Optivise Advisory Services LLC 0.53% of their portfolio FRANKLIN, TN 48,41948.4k $1.0m $1.0m 0.53% Added +4.0k +4,015
6 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 44,78344.8k $954.3k $954.3k 0.00% Reduced -1.0k -1,035
7 Royal Fund Management, LLC 0.10% of their portfolio Lady Lake, FL 41,89541.9k $892.8k $892.8k 0.10% Added +740 +740
8 Nicholas Wealth, LLC. 0.45% of their portfolio MARIETTA, GA 24,04224.0k $512.3k $512.3k 0.45% Reduced -442 -442
9 GTS SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 19,39519.4k $413.3k $413.3k 0.02% New
10 OLD MISSION CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 19,28219.3k $410.9k $410.9k 0.01% Added +7.5k +7,492
11 WorthPointe, LLC 0.16% of their portfolio La Jolla, CA 18,17118.2k $387.2k $387.2k 0.16% Reduced -85 -85
12 Virtue Capital Management, LLC 0.06% of their portfolio BRENTWOOD, TN 14,16914.2k $301.9k $301.9k 0.06% Reduced -11.4k -11,366
13 UBS Group AG 0.00% of their portfolio ZURICH, V8 3,5123.5k $74.8k $74.8k 0.00% Added +1.8k +1,804
14 CWM, LLC 0.00% of their portfolio OMAHA, NE 22 $0 $0 0.00% Unchanged
15 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged