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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
OXY.WS icon
1
Occidental Petroleum Corp Warrants
OXY.WS
$31.5B
$20.6M 1.9%
500,000
– –
BAC.PRL icon
2
Bank of America Series L
BAC.PRL
$3.97B
$15.2M 1.41%
13,075
– –
UONEK icon
3
Urban One Class D
UONEK
$22.8M
$9.18M 0.85%
244,118
+529
+0.2% +$23.5K
BHR
4
Braemar Hotels & Resorts
BHR
$148M
$8.64M 0.8%
2,101,511
+103,152
+5% +$423K
UAN icon
5
CVR Partners
UAN
$1.33B
$7.71M 0.71%
76,700
– –
CMLS
6
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
$7.52M 0.7%
1,211,259
– –
GTXAP
7
DELISTED
Garrett Motion Inc. Series A Cumulative Convertible Preferred Stock
GTXAP
$6.66M 0.62%
768,051
– –
WESTW
8
DELISTED
Westrock Coffee Company Warrants
WESTW
$6.22M 0.58%
2,782,341
+772,233
+38% +$1.23M
CCO icon
9
Clear Channel Outdoor Holdings
CCO
$1.23B
$5.2M 0.48%
4,950,000
+200,000
+4% +$252K
PETQ
10
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
$4.02M 0.37%
435,949
-94,051
-18% -$878K
KYN icon
11
Kayne Anderson Energy Infrastructure Fund
KYN
$2.45B
$4.01M 0.37%
468,507
– –
PFIX icon
12
Simplify Interest Rate Hedge ETF
PFIX
$184M
$3.75M 0.35%
52,380
– –
GRNT.WS
13
DELISTED
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
$3.61M 0.33%
+3,122,129
New +$3.32M
SKIN icon
14
SkinHealth Systems
SKIN
$90.6M
$3.12M 0.29%
342,404
– –
USAC icon
15
USA Compression Partners
USAC
$3.73B
$2.96M 0.27%
151,715
– –
UONE icon
16
Urban One Class A
UONE
$22.8M
$2.67M 0.25%
58,598
– –
KMF
17
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$2.67M 0.25%
355,052
+55,979
+19% +$428K
GDL
18
GDL Fund
GDL
$92.1M
$2.51M 0.23%
320,357
+117,039
+58% +$924K
STKL
19
DELISTED
SunOpta
STKL
$2.44M 0.23%
+288,539
New +$2.72M
AM icon
20
Antero Midstream
AM
$10.4B
$2.43M 0.22%
225,000
– –
ICSH icon
21
iShares Ultra Short Duration Bond Active ETF
ICSH
$8.12B
$2.34M 0.22%
+46,846
New +$2.34M
HTZWW
22
Hertz Global Holdings Warrants
HTZWW
$64.3M
$2.17M 0.2%
290,749
– –
TTT icon
23
ProShares UltraPro Short 20+ Year Treasury
TTT
$19.2M
$1.78M 0.16%
23,100
– –
LSEA
24
DELISTED
Landsea Homes
LSEA
$1.68M 0.16%
322,713
– –
BKNG icon
25
Booking.com
BKNG
$149B
$1.61M 0.15%
+20,000
New +$1.52M
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.