2025 Q4 Portfolio Activity
In 2025 Q4, ZAZOVE ASSOCIATES LLC maintained a portfolio of 209 distinct positions. The most significant new addition was GRANITE RIDGE RESOURCES INC, now representing 0.28% of the total fund value. They heavily accumulated shares in DUKE ENERGY CORP NEW, increasing the position by 61109900.0%. Conversely, ZAZOVE ASSOCIATES LLC completely exited their position in PARSONS CORP DEL.
Position History
hover any row below to update
Loading…
Total Positions
209
Quarter
2025 Q4
Top Holding
N/A (5.4%)
Top 10 Concentration
45.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 209
ZAZOVE ASSOCIATES LLC Full Holdings List — 2025 Q4
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
N/A
DUKE ENERGY COR...
|
|
Bond/Debt | 5.43% | 4.05% |
#1
5
Prev: #6
|
6.7 |
—
|
19,425,000 | 46.6% |
P
S
|
61,110,000 | $63,028,328 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
TETRA TECH INC ...
|
|
Unknown | 5.32% | 5.50% |
#2
1
Prev: #3
|
4.1 |
—
|
465,000 | 0.8% |
P
S
|
56,880,000 | $61,789,011 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
TYLER TEX INDPT...
|
|
Bond/Debt | 5.32% | 4.65% |
#3
1
Prev: #4
|
5.6 |
—
|
14,290,000 | 30.6% |
P
S
|
60,945,000 | $61,769,720 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
PARSONS CORP DE...
|
|
Bond/Debt | 5.27% | 5.88% |
#4
3
Prev: #1
|
3.1 |
—
|
2,350,000 | 4.1% |
P
S
|
59,237,000 | $61,191,957 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
VENTAS RLTY LTD...
|
|
Bond/Debt | 5.15% | 5.56% |
#5
3
Prev: #2
|
3.1 |
—
|
-5,520,000 | -11.6% |
P
S
|
42,175,000 | $59,845,996 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
SPOTIFY USA INC
|
|
Bond/Debt | 4.83% | 1.21% |
#6
21
Prev: #27
|
4.9 |
—
|
39,481,000 | 403.1% |
P
S
|
49,276,000 | $56,103,308 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
MKS INC.
|
|
Bond/Debt | 4.54% | 4.09% |
#7
2
Prev: #5
|
2.3 |
—
|
10,000 | 0.0% |
P
S
|
41,180,000 | $52,715,650 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
FLUOR CORP
|
|
Bond/Debt | 3.93% | 3.83% |
#8
1
Prev: #7
|
3.6 |
—
|
4,310,000 | 12.1% |
P
S
|
39,930,000 | $45,652,320 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
NUTANIX INC
|
|
Bond/Debt | 3.00% | 0.14% |
#9
59
Prev: #68
|
4.2 |
—
|
29,850,000 | 2653.3% |
P
S
|
30,975,000 | $34,874,858 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
ITRON INC
|
|
Bond/Debt | 2.96% | 3.38% |
#10
2
Prev: #8
|
1.7 |
—
|
1,385,000 | 4.3% |
P
S
|
33,865,000 | $34,326,465 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
JAZZ INVESTMENT...
|
|
Bond/Debt | 2.66% | 2.55% |
#11
4
Prev: #15
|
1.6 |
—
|
-540,000 | -2.3% |
P
S
|
23,135,000 | $30,905,653 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
PPL CAP FDG INC
|
|
Bond/Debt | 2.64% | 2.91% |
#12
1
Prev: #11
|
1.6 |
—
|
-200,000 | -0.7% |
P
S
|
27,880,000 | $30,622,779 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
SOUTHERN CO
|
|
Bond/Debt | 2.63% | 2.72% |
#13
1
Prev: #12
|
3.1 |
—
|
1,585,000 | 5.9% |
P
S
|
28,550,000 | $30,533,297 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
REPLIGEN CORP
|
|
Bond/Debt | 2.49% | 2.39% |
#14
2
Prev: #16
|
1.5 |
—
|
50,000 | 0.2% |
P
S
|
26,300,000 | $28,919,335 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
SSR MINING IN
|
|
Bond/Debt | 2.46% | 1.31% |
#15
10
Prev: #25
|
4.0 |
—
|
11,500,000 | 112.1% |
P
S
|
21,755,000 | $28,552,941 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
GUIDEWIRE SOFTW...
|
|
Bond/Debt | 2.40% | — |
#16
Prev: #—
|
4.5 |
—
|
25,305,000 | — |
NEW
|
25,305,000 | $27,885,222 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
VARONIS SYS INC
|
|
Bond/Debt | 1.92% | 3.20% |
#17
8
Prev: #9
|
0.8 |
—
|
-8,650,000 | -26.5% |
P
S
|
23,985,000 | $22,328,366 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
HAEMONETICS COR...
|
|
Bond/Debt | 1.91% | 2.67% |
#18
4
Prev: #14
|
0.8 |
—
|
-10,675,000 | -33.4% |
P
S
|
21,275,000 | $22,141,820 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
AEROVIRONMENT I...
|
|
Bond/Debt | 1.86% | 1.86% |
#19
Prev: #19
|
2.7 |
—
|
3,300,000 | 20.0% |
P
S
|
19,815,000 | $21,610,051 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
EVERGY INC
|
|
Bond/Debt | 1.82% | 2.19% |
#20
2
Prev: #18
|
1.2 |
—
|
-2,000,000 | -10.4% |
P
S
|
17,265,000 | $21,079,933 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
BOFA FIN LLC
|
|
Unknown | 1.77% | 2.97% |
#21
11
Prev: #10
|
0.7 |
—
|
-14,185,000 | -42.8% |
P
S
|
18,942,000 | $20,608,989 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
BROOKDALE SR LI...
|
|
Bond/Debt | 1.70% | 1.52% |
#22
Prev: #22
|
1.7 |
—
|
no change | no change |
P
S
|
14,350,000 | $19,689,500 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
INTEGER HLDGS C...
|
|
Bond/Debt | 1.50% | — |
#23
Prev: #—
|
4.1 |
—
|
15,445,000 | — |
NEW
|
15,445,000 | $17,464,900 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
BRAEMAR HOTELS ...
|
|
Bond/Debt | 1.48% | 1.57% |
#24
3
Prev: #21
|
1.1 |
—
|
-200,000 | -1.1% |
P
S
|
17,450,000 | $17,227,595 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
GLOBAL PMTS INC
|
|
Bond/Debt | 1.31% | 2.70% |
#25
12
Prev: #13
|
0.5 |
—
|
-15,700,000 | -48.1% |
P
S
|
16,960,000 | $15,251,009 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
GRANITE CONSTR ...
|
|
Bond/Debt | 1.12% | 1.37% |
#26
3
Prev: #23
|
0.9 |
—
|
-1,675,000 | -17.0% |
P
S
|
8,175,000 | $13,062,647 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
NORTHERN OIL & ...
|
|
Bond/Debt | 1.12% | 1.17% |
#27
3
Prev: #30
|
0.9 |
—
|
575,000 | 4.5% |
P
S
|
13,401,000 | $12,975,699 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
LIVE NATION ENT...
|
|
Bond/Debt | 1.02% | — |
#28
Prev: #—
|
3.9 |
—
|
11,190,000 | — |
NEW
|
11,190,000 | $11,812,333 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
FORD MTR CO
|
|
Bond/Debt | 0.96% | 0.28% |
#29
27
Prev: #56
|
3.4 |
—
|
7,685,000 | 256.2% |
P
S
|
10,685,000 | $11,092,590 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
PEABODY ENGR CO...
|
|
Bond/Debt | 0.87% | 0.82% |
#30
6
Prev: #36
|
1.3 |
—
|
no change | no change |
P
S
|
6,000,000 | $10,099,063 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
BAC/PRL
BANK AMERICA CO...
|
Preferred | 0.84% | 0.86% |
#31
2
Prev: #33
|
2.3 |
—
|
400 | 5.4% |
P
S
|
7,817 | $9,759,173 | 2010 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
EXPEDIA GROUP I...
|
|
Bond/Debt | 0.80% | 0.08% |
#32
48
Prev: #80
|
3.3 |
—
|
7,400,000 | 825.0% |
P
S
|
8,297,000 | $9,306,034 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
ENOVIS CORPORAT...
|
|
Bond/Debt | 0.76% | 0.99% |
#33
1
Prev: #32
|
0.8 |
—
|
-2,000,000 | -18.1% |
P
S
|
9,055,000 | $8,878,505 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
AMERICAN WTR CA...
|
|
Bond/Debt | 0.73% | 0.78% |
#34
3
Prev: #37
|
1.3 |
—
|
no change | no change |
P
S
|
8,555,000 | $8,526,270 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
OPKO HEALTH INC
|
|
Bond/Debt | 0.68% | 0.82% |
#35
1
Prev: #34
|
1.3 |
—
|
no change | no change |
P
S
|
5,918,000 | $7,943,140 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
VERTEX INC
|
|
Bond/Debt | 0.66% | 1.21% |
#36
10
Prev: #26
|
0.3 |
—
|
-5,060,000 | -38.5% |
P
S
|
8,095,000 | $7,680,198 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
BHR
BRAEMAR HOTELS ...
|
Real Estate | 0.60% | 0.56% |
#37
1
Prev: #38
|
2.2 |
—
|
163,197 | 7.2% |
P
S
|
2,432,460 | $6,981,160 | 2020 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
FRESHPET INC
|
|
Bond/Debt | 0.58% | 0.38% |
#38
9
Prev: #47
|
3.2 |
—
|
2,000,000 | 53.1% |
P
S
|
5,770,000 | $6,756,106 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
PG&E CORP
|
|
Bond/Debt | 0.53% | 0.55% |
#39
1
Prev: #40
|
1.2 |
—
|
no change | no change |
P
S
|
6,000,000 | $6,181,306 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
WORLD KINECT CO...
|
|
Bond/Debt | 0.46% | 0.51% |
#40
1
Prev: #41
|
0.7 |
—
|
30,000 | 0.6% |
P
S
|
5,095,000 | $5,382,014 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
ALLIANT ENERGY ...
|
|
Bond/Debt | 0.45% | 0.49% |
#41
2
Prev: #43
|
1.2 |
—
|
no change | no change |
P
S
|
5,000,000 | $5,209,123 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
KYN
KAYNE ANDERSON ...
|
Financial Services | 0.44% | 0.43% |
#42
3
Prev: #45
|
2.2 |
—
|
27,000 | 7.0% |
P
S
|
414,961 | $5,137,217 | 2017 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
RIVIAN AUTOMOTI...
|
|
Bond/Debt | 0.43% | 0.38% |
#43
5
Prev: #48
|
1.2 |
—
|
no change | no change |
P
S
|
4,000,000 | $5,049,359 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
AFFIRM HLDGS IN...
|
|
Bond/Debt | 0.43% | — |
#44
Prev: #—
|
3.7 |
—
|
4,500,000 | — |
NEW
|
4,500,000 | $5,008,166 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
VUSB
VANGUARD BD IND...
|
ETF | 0.43% | 0.45% |
#45
1
Prev: #44
|
1.2 |
—
|
no change | no change |
P
S
|
100,000 | $4,984,000 | 2023 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
SNOWFLAKE INC
|
|
Bond/Debt | 0.40% | 1.34% |
#46
22
Prev: #24
|
0.2 |
—
|
-6,465,000 | -68.6% |
P
S
|
2,965,000 | $4,596,678 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
UONEK
URBAN ONE INC
|
Communication Services | 0.37% | 0.33% |
#47
5
Prev: #52
|
0.6 |
—
|
58,732 | 1.2% |
P
S
|
5,083,163 | $4,295,273 | 2017 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
LYFT INC
|
|
Bond/Debt | 0.36% | 0.41% |
#48
2
Prev: #46
|
1.1 |
—
|
no change | no change |
P
S
|
3,500,000 | $4,214,542 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
N/A
MERITAGE HOMES ...
|
|
Bond/Debt | 0.35% | 0.99% |
#49
18
Prev: #31
|
0.1 |
—
|
-6,500,000 | -61.0% |
P
S
|
4,150,000 | $4,093,470 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
UAN
CVR PARTNERS LP
|
Basic Materials | 0.35% | 0.32% |
#50
3
Prev: #53
|
1.1 |
—
|
no change | no change |
P
S
|
39,345 | $4,032,863 | 2022 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 209 holdings