We are live on ! Find out more
ZA

Zazove Associates Portfolio holdings

AUM $1.22B
1-Year Est. Return 1.91%
This Fund
S&P 500
This Quarter Est. Return
+1.11%
1 Year Est. Return
+1.91%
3 Year Est. Return
+11.01%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.1B
AUM Growth
-$123M
Cap. Flow
-$1.05B
Cap. Flow %
-94.77%
Top 10 Hldgs %
43.11%
Holding
188
New
27
Increased
16
Reduced
14
Closed
18

Top Buys

Rank Stock Value
1
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$9.21M
2
MNTN
MNTN Inc
MNTN
+$1.14M
3
BKD icon
Brookdale Senior Living
BKD
+$762K
4
ASA
ASA Gold and Precious Metals
ASA
+$642K
5
SAND
Sandstorm Gold
SAND
+$532K

Top Sells

Rank Stock Value
1
GRNT icon
Granite Ridge Resources
GRNT
+$5.19M
2
UAN icon
CVR Partners
UAN
+$3.46M
3
KYN icon
Kayne Anderson Energy Infrastructure Fund
KYN
+$1.2M
4
EOSE icon
Eos Energy Enterprises
EOSE
+$896K
5
GROY icon
Gold Royalty Corp
GROY
+$726K

Sector Composition

Rank Sector Weight
1 Materials 0.7%
2 Communication Services 0.63%
3 Real Estate 0.56%
4 Consumer Staples 0.44%
5 Consumer Discretionary 0.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAC.PRL icon
1
Bank of America Series L
BAC.PRL
$3.96B
$9.5M 0.86%
+7,417
New +$9.21M
BHR
2
Braemar Hotels & Resorts
BHR
$156M
$6.2M 0.56%
2,269,263
+180,577
+9% +$456K
VUSB icon
3
Vanguard Ultra-Short Bond ETF
VUSB
$8.93B
$5M 0.45%
100,000
– –
KYN icon
4
Kayne Anderson Energy Infrastructure Fund
KYN
$2.45B
$4.8M 0.43%
387,961
-97,572
-20% -$1.2M
UONEK icon
5
Urban One Class D
UONEK
$22.7M
$3.62M 0.33%
502,443
+12,472
+3% +$89.2K
UAN icon
6
CVR Partners
UAN
$1.27B
$3.55M 0.32%
39,345
-38,355
-49% -$3.46M
WEST icon
7
Westrock Coffee
WEST
$763M
$3.03M 0.27%
623,975
-84,060
-12% -$506K
RUMBW
8
RUM Group Inc Warrant
RUMBW
$12.9M
$2.25M 0.2%
1,118,221
+31,549
+3% +$79.3K
CCO icon
9
Clear Channel Outdoor Holdings
CCO
$1.23B
$1.94M 0.18%
1,225,000
-304,804
-20% -$380K
USARW
10
DELISTED
USA Rare Earth Inc Warrant
USARW
$1.6M 0.14%
223,418
– –
REAL icon
11
The RealReal
REAL
$1.38B
$1.49M 0.13%
140,000
-56,596
-29% -$419K
PCTTW
12
PureCycle Technologies Inc Warrant
PCTTW
$9.55M
$1.48M 0.13%
436,999
+36,212
+9% +$157K
LUXE
13
LuxExperience B.V.
LUXE
$1.13B
$1.45M 0.13%
170,000
+46,028
+37% +$383K
STKL
14
DELISTED
SunOpta
STKL
$1.41M 0.13%
240,000
+30,832
+15% +$191K
GROY icon
15
Gold Royalty Corp
GROY
$605M
$1.25M 0.11%
325,000
-235,000
-42% -$726K
NPWR.WS icon
16
NET Power Inc Warrants
NPWR.WS
$14.1M
$1.12M 0.1%
1,486,590
+61,400
+4% +$40.5K
EQX icon
17
Equinox Gold
EQX
$7.43B
$1.12M 0.1%
100,000
+20,000
+25% +$159K
GDL
18
GDL Fund
GDL
$91.8M
$1.03M 0.09%
120,522
– –
MNTN
19
MNTN Inc
MNTN
$691M
$928K 0.08%
+50,000
New +$1.14M
BULLW
20
Webull Corp Warrants
BULLW
$91.2M
$881K 0.08%
145,605
– –
JOBY.WS icon
21
Joby Aviation Warrants
JOBY.WS
$875K 0.08%
145,000
– –
BKD icon
22
Brookdale Senior Living
BKD
$3.68B
$847K 0.08%
+100,000
New +$762K
NCMI icon
23
National CineMedia
NCMI
$362M
$813K 0.07%
180,239
+112,133
+165% +$523K
ASA
24
ASA Gold and Precious Metals
ASA
$954M
$811K 0.07%
+17,700
New +$642K
ODV
25
DELISTED
Osisko Development Corp
ODV
$678K 0.06%
200,000
– –
1
2 3 4

Similar funds

SC
Strategy Capital Los Altos, California $1.22B AUM 27.02% 1-Year Est. Return
IB
Intrust Bank Wichita, Kansas $1.23B AUM 26.34% 1-Year Est. Return
IA
Inspire Advisors Meridian, Idaho $1.23B AUM 18.62% 1-Year Est. Return
DGM
Delta Global Management New York $1.22B AUM 34.86% 1-Year Est. Return
WCM
Windward Capital Management Los Angeles, California $1.23B AUM 23.17% 1-Year Est. Return
GC
Gillson Capital Chicago, Illinois $1.22B AUM 7.54% 1-Year Est. Return
CCM
Coliseum Capital Management Rowayton, Connecticut $1.22B AUM 18.72% 1-Year Est. Return
AG
Atairos Group Bryn Mawr, Pennsylvania $1.22B AUM 38.2% 1-Year Est. Return

Zazove Associates's Q3 2025 Portfolio in Review

As of Q3 2025, Zazove Associates held 188 positions worth $1.1B, down 10% from $1.23B the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Zazove Associates withdrew a net $1.05B in Q3 2025, closing 18 positions and reducing 14 holdings. Its most notable exit was Granite Ridge Resources, an estimated $5.19M position sold in full.

By sector, the portfolio is most concentrated in Materials at 0.7% of assets, down from 0.77% a quarter earlier, followed by Communication Services and Real Estate.

Against the trend, Zazove Associates opened a new position in Bank of America Series L worth $9.5M.

  • Zazove Associates's largest Q3 2025 buy was Bank of America Series L: 7,417 shares worth $9.5M.
  • Zazove Associates added most to National CineMedia in Q3 2025, an estimated $523K increase.
  • Zazove Associates's biggest Q3 2025 reduction was CVR Partners, cutting an estimated $3.46M.
  • Zazove Associates fully exited Granite Ridge Resources in Q3 2025, selling an estimated $5.19M.
  • Zazove Associates's ten largest holdings make up 43% of its $1.1B portfolio in Q3 2025.
  • Zazove Associates opened 27 new positions and closed 18 in Q3 2025.
  • Zazove Associates's portfolio value fell 10% quarter-over-quarter to $1.1B.

Based on Zazove Associates's 13F filing for Q3 2025, filed 17 Oct 2025.