DOSSIER · 13F-HR · Q4 2025

ZAZOVE ASSOCIATES LLC

ZAZOVE ASSOCIATES's holding co. based in San Francisco, CA — $1.2B in tracked AUM across 171 positions as of Q4 2025.

ZA

ZAZOVE ASSOCIATES·San Francisco, CA·Holding Co.

CIK 0001009012 · last filed Dec 31, 2025

Total AUM

$1.2B

▲ 19.6%

vs prior

Holdings

171

—

positions

Whale Score

61

61

tracked

Activity

—

no data

changes this Q

Top sector

Financials

19% weight

concentration

AI Analysis · Q4 2025 · Q4 2025

Comprehensive Analysis of ZAZOVE ASSOCIATES LLC 13F Filing (Q3 2025)

1. Portfolio Overview

Zazove Associates LLC reported a significant contraction in portfolio value during the third quarter of 2025, with total assets under management (AUM) decreasing by 12.0%, falling from $1.23 billion to $1.08 billion. This decline coincides with a period of high portfolio turnover and active reallocation. The firm maintains a diversified portfolio of 153 holdings, suggesting a broad investment mandat...

Quarter at a glance — Q4 2025

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q4 2025.

#HoldingValueSharesWeight

01

DUK 4.125 04/15/26

DUKE ENERGY CORP NEW

$63M61.1M5.4%

02

TTEK 2.25 08/15/28

TETRA TECH INC NEW

$62M56.9M5.3%

03

TYL 0.25 03/15/26

TYLER TEX INDPT SCH DIST

$62M60.9M5.3%

04

PSN 2.625 03/01/29

PARSONS CORP DEL

$61M59.2M5.3%

05

VTR 3.75 06/01/26

VENTAS RLTY LTD PARTNERSHIP

$60M42.2M5.2%

06

SPOT 0 03/15/26

SPOTIFY USA INC

$56M49.3M4.8%

07

MKSI 1.25 06/01/30

MKS INC.

$53M41.2M4.5%

08

FLR 1.125 08/15/29

FLUOR CORP

$46M39.9M3.9%

09

NTNX 0.25 10/01/27

NUTANIX INC

$35M31.0M3.0%

10

ITRI 1.375 07/15/30

ITRON INC

$34M33.9M3.0%

Filing history

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