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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
+0.02%
1 Year Est. Return
+1.91%
3 Year Est. Return
+11.01%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.26B
AUM Growth
-$298M
Cap. Flow
-$1.38B
Cap. Flow %
-110.08%
Top 10 Hldgs %
51.19%
Holding
104
New
3
Increased
6
Reduced
3
Closed
8

Top Buys

Rank Stock Value
1
SMPLW
The Simply Good Foods Company Warrant
SMPLW
+$2.13M
2
DSKEW
Daseke, Inc. Warrant
DSKEW
+$1.47M
3
BKEP
Blueknight Energy Partners L.P.
BKEP
+$1.35M
4
DBRG icon
DigitalBridge
DBRG
+$621K
5
CCO icon
Clear Channel Outdoor Holdings
CCO
+$596K

Top Sells

Rank Stock Value
1
FLG.PRU
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
+$23M
2
WELL.PRI
Welltower Inc.
WELL.PRI
+$1.12M
3
RA
Brookfield Real Assets Income Fund
RA
+$748K
4
CISN.WS
Cision Ltd. Warrants, each to purchase one Ordinary Share
CISN.WS
+$583K
5
EMMS
Emmis Communications Corp
EMMS
+$332K

Sector Composition

Rank Sector Weight
1 Communication Services 0.63%
2 Real Estate 0.38%
3 Financials 0.21%
4 Energy 0.09%
5 Materials 0.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UONEK icon
1
Urban One Class D
UONEK
$22.8M
$5.37M 0.43%
258,671
+230
+0.1% +$4.5K
WFC.PRL icon
2
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.72B
$4.79M 0.38%
3,801
– –
EMMS
3
DELISTED
Emmis Communications Corp
EMMS
$4.76M 0.38%
957,960
-68,881
-7% -$332K
DSKEW
4
DELISTED
Daseke, Inc. Warrant
DSKEW
$3.48M 0.28%
3,247,774
+1,460,324
+82% +$1.47M
EVV
5
Eaton Vance Limited Duration Income Fund
EVV
$1.06B
$3.45M 0.27%
273,998
– –
DBRG icon
6
DigitalBridge
DBRG
$2.93B
$2.65M 0.21%
106,003
+26,002
+33% +$621K
SMPLW
7
DELISTED
The Simply Good Foods Company Warrant
SMPLW
$2.51M 0.2%
+603,912
New +$2.13M
TWNKW
8
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
$2.46M 0.2%
1,338,980
+157,493
+13% +$306K
JQC icon
9
Nuveen Credit Strategies Income Fund
JQC
$707M
$2.42M 0.19%
303,805
– –
CNVS icon
10
Cineverse
CNVS
$58.5M
$1.32M 0.11%
42,562
-8,397
-16% -$258K
CCO icon
11
Clear Channel Outdoor Holdings
CCO
$1.23B
$1.28M 0.1%
296,741
+127,299
+75% +$596K
BKEP
12
DELISTED
Blueknight Energy Partners L.P.
BKEP
$1.15M 0.09%
+336,686
New +$1.35M
BAC.PRL icon
13
Bank of America Series L
BAC.PRL
$3.97B
$1.1M 0.09%
875
– –
GDL
14
GDL Fund
GDL
$92.1M
$1.09M 0.09%
118,652
+8,383
+8% +$78.2K
RLJ.PRA icon
15
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$326M
$1.01M 0.08%
38,630
– –
TAHO
16
DELISTED
Tahoe Resources Inc
TAHO
$984K 0.08%
200,000
– –
PHD
17
DELISTED
Pioneer Floating Rate Fund
PHD
$534K 0.04%
47,798
– –
DPG
18
Duff & Phelps Utility and Infrastructure Fund
DPG
$523M
$486K 0.04%
33,833
– –
GLU
19
Gabelli Utility & Income Trust
GLU
$114M
$322K 0.03%
17,271
-300
-2% -$5.58K
EVG
20
Eaton Vance Short Duration Diversified Income Fund
EVG
$142M
$242K 0.02%
18,602
– –
KMF
21
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$242K 0.02%
18,698
– –
AFT
22
DELISTED
Apollo Senior Floating Rate Fund Inc.
AFT
$237K 0.02%
14,507
– –
DSKE
23
DELISTED
Daseke, Inc. Common Stock
DSKE
$199K 0.02%
20,000
– –
SMM
24
DELISTED
Salient Midstream & MLP Fund
SMM
$177K 0.01%
+17,521
New +$174K
AIG.WS
25
DELISTED
American International Group, Inc.
AIG.WS
$154K 0.01%
10,610
– –
1
2

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DGM
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WCM
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Zazove Associates's Q2 2018 Portfolio in Review

As of Q2 2018, Zazove Associates held 104 positions worth $1.26B, down 19% from $1.55B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Zazove Associates withdrew a net $1.38B in Q2 2018, closing 8 positions and reducing 3 holdings. Its most notable exit was Flagstar Bank National Association Bifurcated Option Note Unit Securities, an estimated $23M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 0.63% of assets, up from 0.49% a quarter earlier, followed by Real Estate and Financials.

Against the trend, Zazove Associates opened a new position in The Simply Good Foods Company Warrant worth $2.51M.

  • Zazove Associates's largest Q2 2018 buy was The Simply Good Foods Company Warrant: 603,912 shares worth $2.51M.
  • Zazove Associates added most to Daseke, Inc. Warrant in Q2 2018, an estimated $1.47M increase.
  • Zazove Associates's biggest Q2 2018 reduction was Emmis Communications Corp, cutting an estimated $332K.
  • Zazove Associates fully exited Flagstar Bank National Association Bifurcated Option Note Unit Securities in Q2 2018, selling an estimated $23M.
  • Zazove Associates's ten largest holdings make up 51% of its $1.26B portfolio in Q2 2018.
  • Zazove Associates opened 3 new positions and closed 8 in Q2 2018.
  • Zazove Associates's portfolio value fell 19% quarter-over-quarter to $1.26B.

Based on Zazove Associates's 13F filing for Q2 2018, filed 9 Aug 2018.