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ZA

Zazove Associates Portfolio holdings

AUM $1.22B
1-Year Est. Return 1.92%
This Fund
S&P 500
This Quarter Est. Return
+0.95%
1 Year Est. Return
+1.92%
3 Year Est. Return
+11.02%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.22B
AUM Growth
+$268M
Cap. Flow
-$796M
Cap. Flow %
-64.98%
Top 10 Hldgs %
39.52%
Holding
175
New
14
Increased
16
Reduced
18
Closed
24

Top Buys

Rank Stock Value
1
SOXS icon
Direxion Daily Semiconductor Bear 3X ETF
SOXS
+$1.67M
2
BHR
Braemar Hotels & Resorts
BHR
+$1.25M
3
GLAS
Glass House Brands
GLAS
+$1.04M
4
GOOGM
Alphabet Inc Depositary Shares Series A Preferred Stock
GOOGM
+$628K
5
USAS
Americas Gold and Silver
USAS
+$577K

Top Sells

Rank Stock Value
1
SPSB icon
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
+$6.01M
2
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$5.93M
3
UAN icon
CVR Partners
UAN
+$4.89M
4
NCMI icon
National CineMedia
NCMI
+$1.4M
5
BRCC icon
BRC Inc
BRCC
+$1.22M

Sector Composition

Rank Sector Weight
1 Miscellaneous 97.54%
2 Real Estate 0.39%
3 Consumer Staples 0.39%
4 Consumer Discretionary 0.33%
5 Energy 0.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPXC icon
51
PUT
SPX Corp
SPXC
$9.84B
$45.5K ﹤0.01%
+4,000
New +$875K
EP.PRC icon
52
El Paso Energy Capital Trust I
EP.PRC
$221M
$45.2K ﹤0.01%
887
-234
-21% -$11.9K
AB icon
53
CALL
AllianceBernstein
AB
$3.48B
$35.5K ﹤0.01%
49,000
-1,000
-2% -$37.8K
IAUX.WS
54
i-80 Gold Corp Warrants
IAUX.WS
$184M
$29.8K ﹤0.01%
38,466
– –
RDZNW icon
55
Roadzen Inc Warrants
RDZNW
$6.07M
$29.2K ﹤0.01%
150,602
– –
PEO
56
Adams Natural Resources Fund
PEO
$810M
$24.4K ﹤0.01%
987
+19
+2% +$494
SPWRW
57
SunPower Inc Warrants
SPWRW
$599K
$1.77K ﹤0.01%
11,327
– –
AIIOW
58
Robo.ai Inc Warrant
AIIOW
$384K
$1.16K ﹤0.01%
29,141
-35,430
-55% -$1.43K
BBWI icon
59
CALL
Bath & Body Works
BBWI
$3.93B
– –
-50,000
Closed -$90K
CVI icon
60
PUT
CVR Energy
CVI
$4.47B
– –
-100,000
Closed -$263K
GDL
61
GDL Fund
GDL
$92M
– –
-120,522
Closed -$1M
GEL icon
62
CALL
Genesis Energy
GEL
$1.94B
– –
-133,800
Closed -$438K
GIS icon
63
General Mills
GIS
$20.5B
– –
-300
Closed -$11.2K
GS icon
64
CALL
Goldman Sachs
GS
$302B
– –
-5,000
Closed -$311K
HDSN
65
Hudson Technologies
HDSN
$225M
– –
-50,000
Closed -$294K
HTZ icon
66
CALL
Hertz
HTZ
$820M
– –
-50,000
Closed -$36.3K
KYN icon
67
Kayne Anderson Energy Infrastructure Fund
KYN
$2.5B
– –
-414,961
Closed -$5.93M
LANV.WS
68
DELISTED
Lanvin Group Holdings Warrants
LANV.WS
– –
-1,334,846
Closed -$16K
NCMI icon
69
National CineMedia
NCMI
$233M
– –
-458,939
Closed -$1.4M
NNAVW
70
DELISTED
NextNav Inc Warrant
NNAVW
– –
-170,655
Closed -$1.07M
PBF icon
71
PUT
PBF Energy
PBF
$8.81B
– –
-40,000
Closed -$68K
PRCH icon
72
Porch Group
PRCH
$2.04B
– –
-105,846
Closed -$759K
PSQH.WS icon
73
PSQ Holdings Warrants
PSQH.WS
$1.11M
– –
-491,935
Closed -$20.8K
SOFI icon
74
CALL
SoFi Technologies
SOFI
$23.5B
– –
-50,000
Closed -$72K
SPSB icon
75
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.5B
– –
-200,000
Closed -$6.01M
1 2
3
4

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Zazove Associates's Q2 2026 Portfolio in Review

As of Q2 2026, Zazove Associates held 175 positions worth $1.22B, up 28% from $957M the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Zazove Associates withdrew a net $796M in Q2 2026, closing 24 positions and reducing 18 holdings. Its most notable exit was State Street SPDR Portfolio Short Term Corporate Bond ETF, an estimated $6.01M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 98% of assets, up from 96% a quarter earlier, followed by Real Estate and Consumer Staples.

Against the trend, Zazove Associates opened a new position in Direxion Daily Semiconductor Bear 3X ETF worth $454K.

  • Zazove Associates's largest Q2 2026 buy was Direxion Daily Semiconductor Bear 3X ETF: 14,000 shares worth $454K.
  • Zazove Associates added most to Braemar Hotels & Resorts in Q2 2026, an estimated $1.25M increase.
  • Zazove Associates's biggest Q2 2026 reduction was BRC Inc, cutting an estimated $1.22M.
  • Zazove Associates fully exited State Street SPDR Portfolio Short Term Corporate Bond ETF in Q2 2026, selling an estimated $6.01M.
  • Zazove Associates's ten largest holdings make up 40% of its $1.22B portfolio in Q2 2026.
  • Zazove Associates opened 14 new positions and closed 24 in Q2 2026.
  • Zazove Associates's portfolio value rose 28% quarter-over-quarter to $1.22B.

Based on Zazove Associates's 13F filing for Q2 2026, filed 16 Jul 2026.