% of shares outstanding is not shown for ZHDG: this is a fund line, and we hold no cover-page share count for it at any quarter — a fund's shares outstanding move with creations and redemptions rather than with issuance and buybacks, and it is not the SEC cover-page count this percentage is defined against. The figure is withheld rather than computed against a count that does not exist. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for ZHDG in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | ZEGA Investments, LLC | 1,036,3831.0M | $22M | — | ADD 10% |
| 2 | Wealth Watch Advisors, INC | 207,459207,459 | $4M | — | ADD 47% |
| 3 | Allen Capital Group, LLC | 169,173169,173 | $4M | — | TRIM -37% |
| 4 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 47,54647,546 | $1M | — | TRIM -28% |
| 5 | Virtue Capital Management, LLC | 45,79745,797 | $954,767 | — | NEW |
| 6 | Royal Fund Management, LLC | 41,99241,992 | $886,879 | — | — |
| 7 | Optivise Advisory Services LLC | 41,73141,731 | $881,355 | — | — |
| 8 | Authentikos Wealth Advisory, LLC | 33,00133,001 | $696,970 | — | ADD 19% |
| 9 | OLD MISSION CAPITAL LLC | 32,07532,075 | $677,420 | — | ADD 50% |
| 10 | CreativeOne Wealth, LLC | 25,32725,327 | $534,904 | — | NEW |
| 11 | WorthPointe, LLC | 22,26922,269 | $470,309 | — | TRIM -30% |
| 12 | Nicholas Wealth, LLC. | 21,58221,582 | $455,810 | — | TRIM -13% |
| 13 | JANE STREET GROUP, LLC | 15,19715,197 | $320,959 | — | — |
| 14 | MORGAN STANLEY | 11 | $28 | — | — |
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| ZEGA Investments, LLC | 778K | 769K | 648K | 779K | 942K | 1.0M | $22M |
| Wealth Watch Advisors, INC | — | — | — | — | 142K | 207K | $4M |
| Allen Capital Group, LLC | 482K | 550K | 475K | 360K | 268K | 169K | $4M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 49K | 46K | 45K | 62K | 66K | 48K | $1M |
| Virtue Capital Management, LLC | — | 26K | 14K | — | — | 46K | $954,767 |
| Royal Fund Management, LLC | 40K | 41K | 42K | 17K | 42K | 42K | $886,879 |
| Optivise Advisory Services LLC | 85K | 44K | 48K | 54K | 42K | 42K | $881,355 |
| Authentikos Wealth Advisory, LLC | — | — | — | — | 28K | 33K | $696,970 |
| OLD MISSION CAPITAL LLC | — | 12K | 19K | — | 21K | 32K | $677,420 |
| CreativeOne Wealth, LLC | — | — | — | — | — | 25K | $534,904 |
| WorthPointe, LLC | 15K | 18K | 18K | 20K | 32K | 22K | $470,309 |
| Nicholas Wealth, LLC. | 114K | 24K | 24K | 24K | 25K | 22K | $455,810 |
| JANE STREET GROUP, LLC | 20K | 17K | 100K | 17K | 15K | 15K | $320,959 |
| MORGAN STANLEY | — | — | — | — | 1 | 1 | $28 |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
| Quarter | Holders | Shares held | % shares out | Value held |
|---|
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| ZEGA Investments, LLC | +94,547 | $2M | ADD |
| Wealth Watch Advisors, INC | +65,901 | $1M | ADD |
| Virtue Capital Management, LLC | +45,797 | $967,228 | OPEN |
| CreativeOne Wealth, LLC | +25,327 | $534,904 | OPEN |
| OLD MISSION CAPITAL LLC | +10,713 | $226,257 | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| Coppell Advisory Solutions LLC | −104,876 | $2M | CLOSE |
| Allen Capital Group, LLC | −99,077 | $2M | TRIM |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | −18,719 | $395,343 | TRIM |
| GTS SECURITIES LLC | −16,788 | $354,561 | CLOSE |
| WorthPointe, LLC | −9,636 | $203,511 | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
| 2026-Q1 | 14 | 1,739,533 | — | $37M |
| 2025-Q4 | 15 | 1,744,413 | — | $39M |
| 2025-Q3 | 11 | 1,429,460 | — | $32M |
| 2025-Q2 | 14 | 1,627,037 | — | $35M |
| 2025-Q1 | 13 | 1,654,269 | — | $32M |
| 2024-Q4 | 10 | 1,710,712 | — | $35M |
| 2024-Q3 | 12 | 2,084,902 | — | $43M |
| 2024-Q2 | 11 | 2,221,199 | — | $43M |
| 2024-Q1 | 12 | 2,675,633 | — | $50M |
| 2023-Q4 | 15 | 3,689,965 | — | $65M |
| 2023-Q3 | 10 | 2,458,773 | — | $42M |
| 2023-Q2 | 11 | 1,733,811 | — | $30M |
| 2023-Q1 | 11 | 2,225,630 | — | $36M |
| 2022-Q4 | 10 | 861,541 | — | $14M |
| 2022-Q3 | 12 | 4,258,589 | — | $69M |
| 2022-Q2 | 10 | 5,508,084 | — | $92M |
| 2022-Q1 | 9 | 2,967,274 | — | $59M |
| 2021-Q4 | 7 | 4,519,426 | — | $95M |
| 2021-Q3 | 6 | 3,885,740 | — | $77M |
