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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
UAN icon
76
CVR Partners
UAN
$1.38B
– –
-38,578
Closed -$4.89M
WFC.PRL icon
77
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.52B
– –
-220
Closed -$254K
WHR icon
78
CALL
Whirlpool
WHR
$2.56B
– –
-30,000
Closed -$2.25K
WHR icon
79
Whirlpool
WHR
$2.56B
– –
-1,000
Closed -$53.9K
XNTK icon
80
PUT
State Street SPDR NYSE Technology ETF
XNTK
$1.9B
– –
-32,000
Closed -$19.8K
AIRJW
81
AirJoule Technologies Warrant
AIRJW
$59.7M
– –
-15,700
Closed -$8.95K
TE
82
T1 Energy
TE
$1.35B
– –
-100,000
Closed -$439K
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.