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ZA

Zazove Associates Portfolio holdings

AUM $1.22B
1-Year Est. Return 1.91%
This Fund
S&P 500
This Quarter Est. Return
+1.72%
1 Year Est. Return
+1.91%
3 Year Est. Return
+11.01%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.06B
AUM Growth
+$135M
Cap. Flow
-$763M
Cap. Flow %
-72.01%
Top 10 Hldgs %
49.56%
Holding
111
New
3
Increased
10
Reduced
1
Closed
3

Top Buys

Rank Stock Value
1
BKEP
Blueknight Energy Partners L.P.
BKEP
+$1.39M
2
CMLS
Cumulus Media Inc. Class A Common Stock
CMLS
+$1.31M
3
DSKEW
Daseke, Inc. Warrant
DSKEW
+$1.27M
4
EP.PRC icon
El Paso Energy Capital Trust I
EP.PRC
+$529K
5
CURO
CURO Group Holdings Corp.
CURO
+$445K

Top Sells

Rank Stock Value
1
WFC.PRL icon
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
+$4.91M
2
RLJ.PRA icon
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
+$973K
3
GEL icon
Genesis Energy
GEL
+$443K
4
CNVS icon
Cineverse
CNVS
+$44K

Sector Composition

Rank Sector Weight
1 Communication Services 0.92%
2 Energy 0.46%
3 Financials 0.38%
4 Real Estate 0.37%
5 Industrials 0.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SMM
26
DELISTED
Salient Midstream & MLP Fund
SMM
– –
0
– –
DSKE
27
DELISTED
Daseke, Inc. Common Stock
DSKE
$577K 0.05%
113,425
+15,100
+15% +$68.1K
PHD
28
DELISTED
Pioneer Floating Rate Fund
PHD
– –
0
– –
EVG
29
Eaton Vance Short Duration Diversified Income Fund
EVG
$143M
$483K 0.05%
37,247
+18,645
+100% +$239K
FRA icon
30
BlackRock Floating Rate Income Strategies Fund
FRA
$385M
$478K 0.05%
38,276
– –
GEL icon
31
Genesis Energy
GEL
$1.84B
– –
-20,500
Closed -$443K
JRO
32
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
– –
0
– –
MGY.WS
33
DELISTED
Magnolia Oil & Gas Corporation
MGY.WS
– –
0
– –
GLU
34
Gabelli Utility & Income Trust
GLU
$116M
$322K 0.03%
17,271
– –
BLW icon
35
BlackRock Limited Duration Income Trust
BLW
$493M
$270K 0.03%
+18,396
New +$265K
AFT
36
DELISTED
Apollo Senior Floating Rate Fund Inc.
AFT
$215K 0.02%
14,507
– –
NIHD
37
DELISTED
NII Holdings, Inc. Common Stock
NIHD
– –
0
– –
NRCG.WS
38
DELISTED
NRC Group Holdings Corp.
NRCG.WS
– –
0
– –
AIG.WS
39
DELISTED
American International Group, Inc.
AIG.WS
$60K 0.01%
+10,610
New +$69.2K
1
2

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DGM
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CCM
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FLII
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Zazove Associates's Q1 2019 Portfolio in Review

As of Q1 2019, Zazove Associates held 111 positions worth $1.06B, up 15% from $925M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Zazove Associates withdrew a net $763M in Q1 2019, closing 3 positions and reducing 1 holding. Its most notable exit was Wells Fargo 7.5% Non Cumv Perp Conv, an estimated $4.91M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 0.92% of assets, up from 0.88% a quarter earlier, followed by Energy and Financials.

Against the trend, Zazove Associates opened a new position in Daseke, Inc. Warrant worth $1.51M.

  • Zazove Associates's largest Q1 2019 buy was Daseke, Inc. Warrant: 4,428,325 shares worth $1.51M.
  • Zazove Associates added most to Blueknight Energy Partners L.P. in Q1 2019, an estimated $1.39M increase.
  • Zazove Associates's biggest Q1 2019 reduction was Cineverse, cutting an estimated $44K.
  • Zazove Associates fully exited Wells Fargo 7.5% Non Cumv Perp Conv in Q1 2019, selling an estimated $4.91M.
  • Zazove Associates's ten largest holdings make up 50% of its $1.06B portfolio in Q1 2019.
  • Zazove Associates opened 3 new positions and closed 3 in Q1 2019.
  • Zazove Associates's portfolio value rose 15% quarter-over-quarter to $1.06B.

Based on Zazove Associates's 13F filing for Q1 2019, filed 13 May 2019.