ZAZOVE ASSOCIATES LLC NCMI — NATIONAL CINEMEDIA

Ownership history in ZAZOVE ASSOCIATES LLC  ·  9 quarters on record

AI Ownership Summary

ZAZOVE ASSOCIATES LLC reported NATIONAL CINEMEDIA (NCMI) in 9 quarterly 13F filings from 2023 Q4 through 2025 Q4. Peak portfolio weight reached 0.09% in 2025 Q4. The latest visible filing shows NCMI at 0.09% of the fund.

This page tracks quarterly shares, estimated market value, portfolio weight, filing dates, and disclosure-aligned stock prices directly from SEC EDGAR 13F filings. Older history is available after unlock; the visible window still shows the most recent pattern.

What this NCMI ownership page tells you

This page is designed to answer the real investor question behind a 13F filing: how meaningful was ZAZOVE ASSOCIATES LLC's position in NATIONAL CINEMEDIA, and how did that conviction change over time? You can read the holding window, peak weight, latest reported size, disclosure timing, and quarter-by-quarter changes without piecing the story together from raw SEC rows.

Freshest filing
Latest Reported Filing
2025 Q4

NCMI was reported at 0.09% of portfolio in the most recent visible filing.

High-water mark
Peak Conviction
0.09% in 2025 Q4

Peak weight helps separate a token disclosure from a real conviction holding the fund genuinely cared about.

Time in book
Holding Window
2023 Q4 to 2025 Q4

Longer holding windows often tell a very different story from short-lived tactical trades or one-quarter experiments.

Decision context
Why It Matters
Position size beats headlines

Knowing that a fund owned a stock is useful. Knowing whether it was a 0.20% placeholder or a true high-conviction position is where the signal actually starts.

NCMI stock page ZAZOVE ASSOCIATES LLC fund profile ZAZOVE ASSOCIATES LLC full holdings
How ZAZOVE ASSOCIATES LLC held NCMI — position size vs. price
% of Fund (quarterly)    NCMI price (quarter-end, indexed to 100)    SPY (indexed to 100)    QQQ (indexed to 100)
📋 Quarterly Holdings History 3 quarters  ▾
Quarter Action Sold % After 3M Timing Shares Change Chg % % of Fund Mkt Value Filed Price (Filed)
2025 Q4 ADDED — — — 257,375 +77,136 +42.8% 0.09% $1.0M 2026-02-14 (Est.) $3.23
2025 Q3 ADDED — — — 180,239 +50,113 +38.5% 0.07% $812.9M 2025-10-17 $4.14
2023 Q4 ADDED — — — 130,126 +3,921 +3.1% 0.07% $539K 2024-01-31 $3.91
6 older quarters hidden  —  Sign in free or upgrade to Premium to see full history

🏢 Other funds also holding NCMI

As of 2026 Q1 — sorted by position size

Blantyre Capital Ltd 100.0% Sycale Advisors (NY) LLC 3Y 2.21% EVR Research LP 3Y 1.38% Glendon Capital Management LP 3Y 7Y 0.64% CONTRARIAN CAPITAL MANAGEMENT, L.L.C. 3Y 7Y 0.51% GRATIA CAPITAL, LLC 3Y 7Y 0.43% Luxor Capital Group, LP 3Y 7Y 0.39% Orbis Allan Gray Ltd 3Y 7Y 0.12% Byrne Asset Management LLC 3Y 0.11% Pacific Ridge Capital Partners, LLC 3Y 7Y 0.1%

FAQ About ZAZOVE ASSOCIATES LLC and NCMI

These are the practical questions this page is built to answer before you even open the full history table.

How long has ZAZOVE ASSOCIATES LLC reported owning NCMI?

ZAZOVE ASSOCIATES LLC reported NCMI across 3 quarterly 13F filings, from 2023 Q4 through 2025 Q4.

What was the largest reported NCMI position in ZAZOVE ASSOCIATES LLC's portfolio?

The largest reported portfolio weight for NCMI was 0.09% in 2025 Q4.

What is the latest reported NCMI position on this page?

The most recent filing on this page is 2025 Q4, when ZAZOVE ASSOCIATES LLC reported 257,375 shares, equal to 0.09% of portfolio, with an estimated market value of $1.0M.

What does the chart on this NCMI ownership page compare?

The chart compares ZAZOVE ASSOCIATES LLC's quarterly NCMI portfolio weight with the stock's indexed share price, so you can see whether the fund was building, trimming, or holding the position as price moved.

How well did ZAZOVE ASSOCIATES LLC time their NCMI position?

Based on 13F filing dates vs. subsequent NCMI price moves, ZAZOVE ASSOCIATES LLC correctly timed 1 out of 5 reported position changes (20%). The annualised alpha on NCMI relative to SPY over the holding period was -28.8%.

← Back to ZAZOVE ASSOCIATES LLC Holdings