Latest ZAZOVE ASSOCIATES LLC Stock Portfolio
ZAZOVE ASSOCIATES LLC Performance:
2025 Q3: 3.98%YTD: -2.9%2024: -14.57%
Performance for 2025 Q3 is 3.98%, and YTD is -2.9%, and 2024 is -14.57%.
About ZAZOVE ASSOCIATES LLC and 13F Hedge Fund Stock Holdings
ZAZOVE ASSOCIATES LLC is a hedge fund based in INCLINE VILLAGE, NV. On 31-May-2023, the fund reported that it had an AUM (Regulated Assets under Management) of $2.3 Billions. In it's latest 13F Holdings report, ZAZOVE ASSOCIATES LLC reported an equity portfolio of $1.1 Billions as of 30 Sep, 2025.
The top stock holdings of ZAZOVE ASSOCIATES LLC are BHR, VUSB, . The fund has invested 0.6% of it's portfolio in BRAEMAR HOTELS & RESORTS INC and 0.4% of portfolio in VANGUARD BD INDEX FDS.
The fund managers got completely rid off GRANITE RIDGE RESOURCES INC (GRNT), EOS ENERGY ENTERPRISES INC (EOSE) and T1 ENERGY INC stocks. They significantly reduced their stock positions in ALGOMA STL GROUP INC (ASTL), CVR PARTNERS LP (UAN) and GOLD ROYALTY CORP. ZAZOVE ASSOCIATES LLC opened new stock positions in MNTN INC, BROOKDALE SR LIVING INC (BKD) and BRUKER CORP (BRKR). The fund showed a lot of confidence in some stocks as they added substantially to NEXTNAV INC (NN) and NATIONAL CINEMEDIA INC (NCMI).
The top stock holdings of ZAZOVE ASSOCIATES LLC are BHR, VUSB, . The fund has invested 0.6% of it's portfolio in BRAEMAR HOTELS & RESORTS INC and 0.4% of portfolio in VANGUARD BD INDEX FDS.
The fund managers got completely rid off GRANITE RIDGE RESOURCES INC (GRNT), EOS ENERGY ENTERPRISES INC (EOSE) and T1 ENERGY INC stocks. They significantly reduced their stock positions in ALGOMA STL GROUP INC (ASTL), CVR PARTNERS LP (UAN) and GOLD ROYALTY CORP. ZAZOVE ASSOCIATES LLC opened new stock positions in MNTN INC, BROOKDALE SR LIVING INC (BKD) and BRUKER CORP (BRKR). The fund showed a lot of confidence in some stocks as they added substantially to NEXTNAV INC (NN) and NATIONAL CINEMEDIA INC (NCMI).
ZAZOVE ASSOCIATES LLC Annual Return Estimates Vs S&P 500
Our best estimate is that ZAZOVE ASSOCIATES LLC made a return of 3.98% in the last quarter. In trailing 12 months, it's portfolio return was -4.48%.
New Buys
| Ticker | $ Bought |
|---|---|
| varonis sys inc | 35,341,800 |
| jazz investments i ltd | 28,180,400 |
| shopify inc | 24,487,900 |
| aerovironment inc | 20,521,200 |
| snowflake inc | 14,767,900 |
| ncl corp ltd | 13,406,700 |
| bank america corp | 9,501,210 |
| freshpet inc | 4,235,360 |
New stocks bought by ZAZOVE ASSOCIATES LLC
Additions
| Ticker | % Inc. |
|---|---|
| ssr mining in | 1,092 |
| nextnav inc | 541 |
| coinbase global inc | 103 |
| epr pptys | 84.82 |
| itron inc | 41.21 |
| national cinemedia inc | 32.32 |
| spotify usa inc | 1.93 |
Additions to existing portfolio by ZAZOVE ASSOCIATES LLC
Reductions
| Ticker | % Reduced |
|---|---|
| akamai technologies inc | -95.29 |
| ascendis pharma a/s | -92.97 |
| expedia group inc | -92.87 |
| equinox gold corp | -89.63 |
| american wtr cap corp | -84.89 |
| advanced energy inds | -80.56 |
| peabody engr corp | -80.35 |
| cms energy corp | -78.84 |
ZAZOVE ASSOCIATES LLC reduced stake in above stock
Sold off
| Ticker | $ Sold |
|---|---|
| middleby corp | -56,776,100 |
| alnylam pharmaceuticals inc | -46,474,400 |
| uber technologies inc | -13,566,400 |
| bloom energy corp | -11,869,000 |
| western digital corp | -14,357,800 |
| american airlines group inc | -4,000,520 |
| coinbase global inc | -5,241,670 |
| ncl corp ltd | -3,169,520 |
ZAZOVE ASSOCIATES LLC got rid off the above stocks
Sector Distribution
ZAZOVE ASSOCIATES LLC has about 45.1% of it's holdings in Others sector.
| Sector | % |
|---|---|
| Others | 45.1 |
| Communication Services | 12.9 |
| Real Estate | 11.4 |
| Consumer Defensive | 8.9 |
| Basic Materials | 7.5 |
| Industrials | 5.8 |
| Consumer Cyclical | 3.7 |
| Healthcare | 2.8 |
Market Cap. Distribution
ZAZOVE ASSOCIATES LLC has about 0% of it's portfolio invested in the large-cap and mega-cap stocks.
| Category | % |
|---|---|
| UNALLOCATED | 45.1 |
| SMALL-CAP | 31.2 |
| MICRO-CAP | 19.3 |
| MID-CAP | 4.2 |
Stocks belong to which Index?
About 42.4% of the stocks held by ZAZOVE ASSOCIATES LLC either belong to S&P 500 or RUSSELL 2000 index.
| Index | % |
|---|---|
| Others | 57.6 |
| RUSSELL 2000 | 42.4 |
ZAZOVE ASSOCIATES LLC Holdings Map
This heatmap illustrates the top 50 positions within the fund's portfolio.
Current Stock Holdings of ZAZOVE ASSOCIATES LLC
ZAZOVE ASSOCIATES LLC has 50 stocks in it's portfolio. About 3% of the portfolio is in top 10 stocks. WEST proved to be the most loss making stock for the portfolio. REAL was the most profitable stock for ZAZOVE ASSOCIATES LLC last quarter.
Last Reported on: 17 Oct, 2025| Ticker | Namesorted ascending | % Portfolio | Shares Held | $ Value | Type | % Change | Options | |
|---|---|---|---|---|---|---|---|---|
| AAL | american airlines group inc | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| ABR | arbor realty trust inc | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| ACHR | archer aviation inc | 0.02 | 100,000 | 219,500 | reduced | -50.00 | ||
| AEIS | advanced energy inds | 1.84 | 14,700,000 | 20,369,400 | reduced | -80.56 | ||
| AKAM | akamai technologies inc | 0.05 | 620,000 | 583,357 | reduced | -95.29 | ||
| ALNY | alnylam pharmaceuticals inc | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| ARKO | arko corp | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| ARRY | array technologies inc | 0.04 | 495,000 | 430,776 | reduced | -50.00 | ||
| ASTL | algoma stl group inc | 0.00 | 4,540 | 696 | reduced | -77.3 | ||
| AUR | aurora innovation inc | 0.00 | 67,700 | 38,626 | new | |||
| AVAV | aerovironment inc | 1.86 | 16,515,000 | 20,521,200 | new | |||
| BAC | bank america corp | 0.86 | 7,417 | 9,501,210 | new | |||
| BAND | bandwidth inc | 0.01 | 115,000 | 98,449 | reduced | -50.00 | ||
| BATRA | liberty media corp del | 0.35 | 2,920,000 | 3,880,800 | reduced | -50.00 | ||
| BATRA | liberty media corp del | 0.31 | 3,300,000 | 3,461,640 | reduced | -50.00 | ||
| BE | bloom energy corp | 0.00 | 0.00 | 0.00 | sold off | -100 | ||
| BHR | braemar hotels & resorts inc | 1.56 | 17,650,000 | 17,293,200 | reduced | -51.35 | ||
| BHR | braemar hotels & resorts inc | 0.56 | 2,269,260 | 6,195,090 | reduced | -45.68 | ||
| BHR | braemar hotels & resorts inc | 0.04 | 27,512 | 444,594 | new | |||
| BKD | brookdale sr living inc | 1.52 | 14,350,000 | 16,781,400 | reduced | -46.97 | ||