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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
-0.04%
1 Year Est. Return
+1.91%
3 Year Est. Return
+11.01%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.08B
AUM Growth
-$24.6M
Cap. Flow
-$832M
Cap. Flow %
-76.98%
Top 10 Hldgs %
38.13%
Holding
167
New
14
Increased
13
Reduced
6
Closed
18

Top Buys

Rank Stock Value
1
CANO.WS
Cano Health, Inc. Redeemable Warrants, each whole warrant is exercisable for one-one hundredth (1/100th) of a share of Class A Common Stock at an exercise price of $1,150
CANO.WS
+$3.95M
2
GRNT.WS
Granite Ridge Resources, Inc. Warrants to purchase Common Stock, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share
GRNT.WS
+$3.32M
3
STKL
SunOpta
STKL
+$2.72M
4
ICSH icon
iShares Ultra Short Duration Bond Active ETF
ICSH
+$2.34M
5
GETY icon
Getty Images
GETY
+$1.61M

Top Sells

Rank Stock Value
1
ENPC.WS
Executive Network Partnering Corporation Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
ENPC.WS
+$1.37M
2
ALIT icon
Alight
ALIT
+$1.29M
3
IMAX icon
IMAX
IMAX
+$1.25M
4
PETQ
PetIQ, Inc. Class A Common Stock
PETQ
+$878K
5
FLG.PRU
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
+$331K

Sector Composition

Rank Sector Weight
1 Communication Services 1.75%
2 Real Estate 0.95%
3 Materials 0.94%
4 Energy 0.67%
5 Consumer Staples 0.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GETY icon
26
Getty Images
GETY
$183M
$1.59M 0.15%
+287,221
New +$1.61M
NIMC
27
DELISTED
NiSource Inc. Series A Corporate Units
NIMC
– –
0
– –
JQC icon
28
Nuveen Credit Strategies Income Fund
JQC
$711M
$1.48M 0.14%
291,105
– –
SAND
29
DELISTED
Sandstorm Gold
SAND
$1.46M 0.14%
+277,564
New +$1.42M
GER
30
DELISTED
Goldman Sachs MLP Energy Renaissance Fund
GER
$1.42M 0.13%
111,150
+19,125
+21% +$250K
DJTWW
31
Trump Media & Technology Group Warrants
DJTWW
$859M
$1.32M 0.12%
384,865
– –
BHC icon
32
Bausch Health
BHC
$2.34B
$1.3M 0.12%
207,000
– –
UGIC
33
DELISTED
UGI Corporation
UGIC
– –
0
– –
CANO.WS
34
DELISTED
Cano Health, Inc. Redeemable Warrants, each whole warrant is exercisable for one-one hundredth (1/100th) of a share of Class A Common Stock at an exercise price of $1,150
CANO.WS
$1.17M 0.11%
5,238,475
+4,554,018
+665% +$3.95M
RUMBW
35
RUM Group Inc Warrant
RUMBW
$13.8M
$1.09M 0.1%
852,685
+325,439
+62% +$714K
OGG
36
Osisko Gold Group Inc.
OGG
$853M
$946K 0.09%
+219,985
New +$977K
MIR.WS
37
DELISTED
Mirion Technologies, Inc. Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
MIR.WS
$923K 0.09%
824,052
+19,870
+2% +$22.7K
FLG.PRU
38
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$118M
$897K 0.08%
20,148
-7,740
-28% -$331K
SOFI icon
39
SoFi Technologies
SOFI
$23.7B
$742K 0.07%
160,859
+859
+0.5% +$4.26K
TE.WS
40
DELISTED
T1 Energy Inc Warrants
TE.WS
$691K 0.06%
246,388
– –
AQNU
41
DELISTED
Algonquin Power & Utilities Corp Units
AQNU
– –
0
– –
OKE icon
42
Oneok
OKE
$54.5B
$657K 0.06%
10,000
– –
BRCC icon
43
BRC Inc
BRCC
$250M
$642K 0.06%
105,000
– –
PCTTW
44
PureCycle Technologies Inc Warrant
PCTTW
$11M
$594K 0.05%
210,297
+55,951
+36% +$168K
INDIW
45
DELISTED
indie Semiconductor, Inc. Warrant
INDIW
$536K 0.05%
+340,463
New +$640K
FRA icon
46
BlackRock Floating Rate Income Strategies Fund
FRA
$385M
$431K 0.04%
38,276
– –
EPD icon
47
Enterprise Products Partners
EPD
$81.7B
$355K 0.03%
14,710
– –
GRNT icon
48
Granite Ridge Resources
GRNT
$644M
$296K 0.03%
+32,728
New +$296K
NCMI icon
49
National CineMedia
NCMI
$378M
$278K 0.03%
126,494
– –
RLJ.PRA icon
50
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$322M
$263K 0.02%
11,046
-13,130
-54% -$314K
1
2
3 4

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Zazove Associates's Q4 2022 Portfolio in Review

As of Q4 2022, Zazove Associates held 167 positions worth $1.08B, down 2.2% from $1.11B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Zazove Associates withdrew a net $832M in Q4 2022, closing 18 positions and reducing 6 holdings. Its most notable exit was Executive Network Partnering Corporation Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50, an estimated $1.37M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 1.7% of assets, down from 2% a quarter earlier, followed by Real Estate and Materials.

Against the trend, Zazove Associates opened a new position in Granite Ridge Resources, Inc. Warrants to purchase Common Stock, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share worth $3.61M.

  • Zazove Associates's largest Q4 2022 buy was Granite Ridge Resources, Inc. Warrants to purchase Common Stock, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share: 3,122,129 shares worth $3.61M.
  • Zazove Associates added most to Cano Health, Inc. Redeemable Warrants, each whole warrant is exercisable for one-one hundredth (1/100th) of a share of Class A Common Stock at an exercise price of $1,150 in Q4 2022, an estimated $3.95M increase.
  • Zazove Associates's biggest Q4 2022 reduction was Alight, cutting an estimated $1.29M.
  • Zazove Associates fully exited Executive Network Partnering Corporation Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 in Q4 2022, selling an estimated $1.37M.
  • Zazove Associates's ten largest holdings make up 38% of its $1.08B portfolio in Q4 2022.
  • Zazove Associates opened 14 new positions and closed 18 in Q4 2022.
  • Zazove Associates's portfolio value fell 2.2% quarter-over-quarter to $1.08B.

Based on Zazove Associates's 13F filing for Q4 2022, filed 31 Jan 2023.