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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
+0.47%
1 Year Est. Return
+1.91%
3 Year Est. Return
+11.01%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.98B
AUM Growth
-$411M
Cap. Flow
-$2.82B
Cap. Flow %
-94.66%
Top 10 Hldgs %
42.01%
Holding
133
New
14
Increased
3
Reduced
6
Closed
5

Top Buys

Rank Stock Value
1
KMI.WS
Kinder Morgan Inc
KMI.WS
+$45.1M
2
AIG.WS
American International Group, Inc.
AIG.WS
+$17M
3
GM.WS.C
GENERAL MTRS CO WTS EXP 12/31/15 (DE)
GM.WS.C
+$9.88M
4
COF.WS
Capital One Financial Corp
COF.WS
+$8.94M
5
TC.PRT
THOMPSON CREEK METALS COMPANY INC. COMMON SHARES(CANADA)TANG
TC.PRT
+$6.85M

Top Sells

Rank Stock Value
1
SWU
STANLEY BLACK & DECKER INC CORP UNIT
SWU
+$14.3M
2
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$7.77M
3
FLG.PRU
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
+$7.21M
4
AHL
ASPEN Insurance Holding Limited
AHL
+$3.98M
5
IRDM icon
Iridium Communications
IRDM
+$756K

Sector Composition

Rank Sector Weight
1 Communication Services 0.1%
2 Healthcare 0.08%
3 Real Estate 0.07%
4 Technology 0.05%
5 Consumer Discretionary 0.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SWU
1
DELISTED
STANLEY BLACK & DECKER INC CORP UNIT
SWU
$164M 5.5%
1,190,675
-105,980
-8% -$14.3M
KMI.WS
2
DELISTED
Kinder Morgan Inc
KMI.WS
$42.6M 1.43%
+8,561,704
New +$45.1M
FLG.PRU
3
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$117M
$33.4M 1.12%
683,549
-148,315
-18% -$7.21M
WFC.PRL icon
4
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.72B
$18.3M 0.61%
16,055
-45
-0.3% -$51.7K
AIG.WS
5
DELISTED
American International Group, Inc.
AIG.WS
$16.9M 0.57%
+893,596
New +$17M
GM.WS.C
6
DELISTED
GENERAL MTRS CO WTS EXP 12/31/15 (DE)
GM.WS.C
$9.92M 0.33%
+2,480,958
New +$9.88M
COF.WS
7
DELISTED
Capital One Financial Corp
COF.WS
$9.38M 0.32%
+322,434
New +$8.94M
EMMSP
8
DELISTED
EMMIS COMMUNICATIONS CRP CV PF
EMMSP
$7.52M 0.25%
491,510
– –
TC.PRT
9
DELISTED
THOMPSON CREEK METALS COMPANY INC. COMMON SHARES(CANADA)TANG
TC.PRT
$7.24M 0.24%
+385,943
New +$6.85M
JPM.WS
10
DELISTED
JPMorgan Chase
JPM.WS
$5.32M 0.18%
+317,463
New +$5.34M
KEY.PRG
11
DELISTED
KeyCorp Pfd
KEY.PRG
$5.32M 0.18%
+42,655
New +$5.4M
UONEK icon
12
Urban One Class D
UONEK
$22.8M
$3.07M 0.1%
114,271
+14,271
+14% +$335K
EMMS
13
DELISTED
Emmis Communications Corp
EMMS
$2.05M 0.07%
202,548
+58,125
+40% +$635K
UVXY icon
14
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$242M
– –
0
– –
INTC icon
15
Intel
INTC
$459B
$1.57M 0.05%
68,300
-21,900
-24% -$504K
GM.WS.B
16
DELISTED
General Motors Company
GM.WS.B
$1.37M 0.05%
+73,884
New +$1.38M
TEVA icon
17
Teva Pharmaceuticals
TEVA
$40.2B
$1.21M 0.04%
31,987
-187
-0.6% -$7.29K
DRRX
18
DELISTED
DURECT Corp
DRRX
$1.17M 0.04%
87,314
– –
BRSL
19
Brightstar Lottery PLC
BRSL
$1.86B
$856K 0.03%
45,235
+25,235
+126% +$481K
ARK
20
DELISTED
BLACKROCK SR HIGH INCM FD INC
ARK
$755K 0.03%
+191,612
New +$762K
BAC.PRL icon
21
Bank of America Series L
BAC.PRL
$3.97B
$751K 0.03%
695
-7,095
-91% -$7.77M
AUQ
22
DELISTED
AURICO GOLD INC COM
AUQ
$392K 0.01%
102,910
– –
JFR icon
23
Nuveen Floating Rate Income Fund
JFR
$1.24B
$384K 0.01%
+32,071
New +$393K
CMLS
24
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
$284K 0.01%
6,718
– –
ZIONW
25
DELISTED
Zions Bancorporation N.A. Warrants
ZIONW
$227K 0.01%
+46,190
New +$280K
1
2

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Zazove Associates's Q3 2013 Portfolio in Review

As of Q3 2013, Zazove Associates held 133 positions worth $2.98B, down 12% from $3.39B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Zazove Associates withdrew a net $2.82B in Q3 2013, closing 5 positions and reducing 6 holdings. Its most notable exit was ASPEN Insurance Holding Limited, an estimated $3.98M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 0.1% of assets, up from 0.09% a quarter earlier, followed by Healthcare and Real Estate.

Against the trend, Zazove Associates opened a new position in Kinder Morgan Inc worth $42.6M.

  • Zazove Associates's largest Q3 2013 buy was Kinder Morgan Inc: 8,561,704 shares worth $42.6M.
  • Zazove Associates added most to Emmis Communications Corp in Q3 2013, an estimated $635K increase.
  • Zazove Associates's biggest Q3 2013 reduction was STANLEY BLACK & DECKER INC CORP UNIT, cutting an estimated $14.3M.
  • Zazove Associates fully exited ASPEN Insurance Holding Limited in Q3 2013, selling an estimated $3.98M.
  • Zazove Associates's ten largest holdings make up 42% of its $2.98B portfolio in Q3 2013.
  • Zazove Associates opened 14 new positions and closed 5 in Q3 2013.
  • Zazove Associates's portfolio value fell 12% quarter-over-quarter to $2.98B.

Based on Zazove Associates's 13F filing for Q3 2013, filed 21 Oct 2013.