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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
-0.29%
1 Year Est. Return
+1.91%
3 Year Est. Return
+11.01%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$964M
AUM Growth
-$133M
Cap. Flow
-$892M
Cap. Flow %
-92.53%
Top 10 Hldgs %
44.69%
Holding
157
New
14
Increased
14
Reduced
8
Closed
8

Top Buys

Rank Stock Value
1
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$5.81M
2
HTZWW
Hertz Global Holdings Warrants
HTZWW
+$2.77M
3
STKL
SunOpta
STKL
+$969K
4
WFC.PRL icon
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
+$793K
5
INDIW
indie Semiconductor, Inc. Warrant
INDIW
+$608K

Top Sells

Rank Stock Value
1
ICSH icon
iShares Ultra Short Duration Bond Active ETF
ICSH
+$4.87M
2
PETQ
PetIQ, Inc. Class A Common Stock
PETQ
+$4.68M
3
GTX icon
Garrett Motion
GTX
+$2.95M
4
AM icon
Antero Midstream
AM
+$2.61M
5
PFIX icon
Simplify Interest Rate Hedge ETF
PFIX
+$2.59M

Sector Composition

Rank Sector Weight
1 Communication Services 2.22%
2 Materials 1.03%
3 Energy 0.94%
4 Consumer Discretionary 0.61%
5 Real Estate 0.6%
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
$19.2M 1.99%
446,221
-53,779
-11% -$2.2M
UONEK icon
2
Urban One Class D
UONEK
$22.8M
$12.3M 1.28%
245,417
+1,049
+0.4% +$57.2K
CMLS
3
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
$7.42M 0.77%
1,458,428
– –
GRNT icon
4
Granite Ridge Resources
GRNT
$632M
$6.37M 0.66%
1,044,274
– –
UAN icon
5
CVR Partners
UAN
$1.33B
$6.34M 0.66%
76,700
– –
BHR
6
Braemar Hotels & Resorts
BHR
$148M
$5.82M 0.6%
2,101,511
– –
BAC.PRL icon
7
Bank of America Series L
BAC.PRL
$3.97B
$5.57M 0.58%
+5,007
New +$5.81M
CCO icon
8
Clear Channel Outdoor Holdings
CCO
$1.23B
$5.51M 0.57%
3,487,637
-560,000
-14% -$849K
WESTW
9
DELISTED
Westrock Coffee Company Warrants
WESTW
$5.34M 0.55%
2,918,653
+95,002
+3% +$255K
NPWR.WS icon
10
NET Power Inc Warrants
NPWR.WS
$16.1M
$5.03M 0.52%
1,165,244
+98,535
+9% +$384K
VUSB icon
11
Vanguard Ultra-Short Bond ETF
VUSB
$8.91B
$4.92M 0.51%
100,000
– –
KYN icon
12
Kayne Anderson Energy Infrastructure Fund
KYN
$2.45B
$3.94M 0.41%
468,507
– –
GTX icon
13
Garrett Motion
GTX
$5.71B
$3.88M 0.4%
492,443
-383,741
-44% -$2.95M
UONE icon
14
Urban One Class A
UONE
$22.8M
$2.94M 0.31%
58,598
– –
GDL
15
GDL Fund
GDL
$92.1M
$2.75M 0.29%
355,151
– –
HTZWW
16
Hertz Global Holdings Warrants
HTZWW
$64.3M
$2.59M 0.27%
421,323
+308,133
+272% +$2.77M
KMF
17
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$2.54M 0.26%
357,252
– –
SKIN icon
18
SkinHealth Systems
SKIN
$90.6M
$2.06M 0.21%
342,404
– –
THCH icon
19
TH International
THCH
$55.1M
$1.98M 0.2%
218,216
+12,499
+6% +$151K
USAC icon
20
USA Compression Partners
USAC
$3.73B
$1.95M 0.2%
81,715
-70,000
-46% -$1.47M
DJTWW
21
Trump Media & Technology Group Warrants
DJTWW
$829M
$1.87M 0.19%
377,756
-7,109
-2% -$33.7K
ODV
22
DELISTED
Osisko Development Corp
ODV
$1.84M 0.19%
625,200
– –
PFIX icon
23
Simplify Interest Rate Hedge ETF
PFIX
$184M
$1.75M 0.18%
18,350
-34,030
-65% -$2.59M
SAND
24
DELISTED
Sandstorm Gold
SAND
$1.72M 0.18%
370,000
– –
INDIW
25
DELISTED
indie Semiconductor, Inc. Warrant
INDIW
$1.68M 0.17%
943,216
+335,416
+55% +$608K
1
2 3

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Zazove Associates's Q3 2023 Portfolio in Review

As of Q3 2023, Zazove Associates held 157 positions worth $964M, down 12% from $1.1B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Zazove Associates withdrew a net $892M in Q3 2023, closing 8 positions and reducing 8 holdings. Its most notable exit was iShares Ultra Short Duration Bond Active ETF, an estimated $4.87M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 2.2% of assets, up from 2.2% a quarter earlier, followed by Materials and Energy.

Against the trend, Zazove Associates opened a new position in Bank of America Series L worth $5.57M.

  • Zazove Associates's largest Q3 2023 buy was Bank of America Series L: 5,007 shares worth $5.57M.
  • Zazove Associates added most to Hertz Global Holdings Warrants in Q3 2023, an estimated $2.77M increase.
  • Zazove Associates's biggest Q3 2023 reduction was Garrett Motion, cutting an estimated $2.95M.
  • Zazove Associates fully exited iShares Ultra Short Duration Bond Active ETF in Q3 2023, selling an estimated $4.87M.
  • Zazove Associates's ten largest holdings make up 45% of its $964M portfolio in Q3 2023.
  • Zazove Associates opened 14 new positions and closed 8 in Q3 2023.
  • Zazove Associates's portfolio value fell 12% quarter-over-quarter to $964M.

Based on Zazove Associates's 13F filing for Q3 2023, filed 31 Oct 2023.