ZAZOVE ASSOCIATES LLC
CIK
1009012
Location
INCLINE VILLAGE, NV
Portfolio Value
Micro
$4,106,038
Diversification
Diversified
Filing Date
Global Rank
#7,037
/ 8,586
▲ 150
Top Industry
Asset Management
21.2%
3Y Alpha vs SPY
-10.5%
Period ended 3 months ago
Filed Jun 15, 2026 · 1d
24 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+35.7%
SPY
+78.1%
Annualised alpha
-10.5%
Max drawdown
−27.3%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
26 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
14.1%
−2.9 pts
Top 5
56.7%
+2.4 pts
Top 10
79.6%
+3.5 pts
HHI
819
Diversified+15
Portfolio Trend
24 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 21.2% | $8,919,560 |
| Basic Materials | 19.5% | $8,214,661 |
| Real Estate | 13.6% | $5,740,605 |
| Consumer Defensive | 11.2% | $4,723,951 |
| Energy | 9.8% | $4,106,038 |
| Communication Services | 9.5% | $4,008,193 |
| Consumer Cyclical | 7.0% | $2,936,069 |
| Healthcare | 4.6% | $1,949,400 |
| Technology | 2.6% | $1,114,088 |
| Industrials | 1.0% | $400,260 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increasedNo qualifying positions this quarter.
Trimmed
Positions the filer reducedNo qualifying positions this quarter.
New Positions
Positions the filer opened this quarterNo qualifying positions this quarter.
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
2 positions ·
$4,106,038 total
· Energy only
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| GRNT |
Granite Ridge Resources, Inc.
Energy
|
Held | 683,056 | $4,009,538 | 97.65% | |
| ET |
Energy Transfer LP
Energy
|
Held | 5,000 | $96,500 | 2.35% |