Arkolith/Funds/Zazove Associates LLC

Zazove Associates LLC

CIK 1009012
Holdings as of Mar 31, 2026·disclosed Jun 15, 2026·~76-day 13F lag·13F-HR
Active Filer

Zazove Associates LLC holds a diversified book of 128 stocks worth $1.2B as of Q1 2026 (disclosed Jun 15, 2026, a ~45-day 13F lag). This quarter they trimmed PARSONS CORP DEL. Their largest long position is DUKE ENERGY CORP NEW at 5% of the equity book. They also disclosed $1.2M in put options (a bearish bet) and $3.5M in call options (bullish), shown separately below and excluded from the equity book.

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holdings, largest changes, and filing provenance.
Opened
0
new positions
Added to
0
existing
Trimmed
3
reduced
Sold out
0
exited

Concentration

Top-heavy: diversified book

Top 5 holdings
27%
Top 10 holdings
46%
Top 20 holdings
69%

Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.

Direct sector allocation

0% mapped to company sectors

ETF / fund or unclassified
100%

Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.

Biggest moves: latest quarter

Estimated $ traded · quarter-end prices, no cost basis

Bought

No buys this quarter.

Trimmed / exited
  • SYMBOTIC INC
    −77%$1.0M
  • SILVERCORP METALS INC
    −67%$573K
  • PARSONS CORP DEL
    ~0%$26K

Holdings: largest first

Bars show each stock's share of the portfolio. Click a row for its position history.

141 positions
#SecurityValueShares% PortLast moveHistory
1Duke Energy Corp New
NOTE 4.125% 4/1
$63.0M61.11M
5.4%
Held
2Tetra Tech Inc New
DBCV 2.250% 8/1
$61.8M56.88M
5.3%
Held
3Tyler Tex Indpt SCH Dist
NOTE 0.250% 3/1
$61.8M60.95M
5.3%
Held
4Parsons Corp Del
NOTE 2.625% 3/0
$61.2M59.24M
5.3%
Held
5Ventas Rlty Ltd Partnership
NOTE 3.750% 6/0
$59.8M42.17M
5.2%
Held
6Spotify USA Inc
NOTE 3/1
$56.1M49.28M
4.9%
Held
7MKS Inc.
NOTE 1.250% 6/0
$52.7M41.18M
4.6%
Held
8Fluor Corp
NOTE 1.125% 8/1
$45.7M39.93M
3.9%
Held
9Nutanix Inc
NOTE 0.250%10/0
$34.9M30.98M
3.0%
Held
10Itron Inc
NOTE 1.375% 7/1
$34.3M33.87M
3.0%
Held
11Jazz Investments I Ltd
NOTE 3.125% 9/1
$30.9M23.14M
2.7%
Held
12PPL Cap FDG Inc
NOTE 2.875% 3/1
$30.6M27.88M
2.6%
Held
13Southern Co
NOTE 4.500% 6/1
$30.5M28.55M
2.6%
Held
14Repligen Corp
NOTE 1.000%12/1
$28.9M26.30M
2.5%
Held
15SSR Mining In
NOTE 2.500% 4/0
$28.6M21.75M
2.5%
Held
16Guidewire Software Inc
NOTE 1.250%11/0
$27.9M25.30M
2.4%
Held
17Varonis Sys Inc
NOTE 1.000% 9/1
$22.3M23.98M
1.9%
Held
18Haemonetics Corp Mass
NOTE 2.500% 6/0
$22.1M21.27M
1.9%
Held
19Aerovironment Inc
NOTE 7/1
$21.6M19.82M
1.9%
Held
20Evergy Inc
NOTE 4.500%12/1
$21.1M17.27M
1.8%
Held
21Bofa Fin LLC
MTNF 0.600% 5/2
$20.6M18.94M
1.8%
Held
22Brookdale SR Living Inc
NOTE 2.000%10/1
$19.7M14.35M
1.7%
Held
23Integer Hldgs Corp
NOTE 2.125% 2/1
$17.5M15.45M
1.5%
Held
24Braemar Hotels & Resorts Inc
NOTE 4.500% 6/0
$17.2M17.45M
1.5%
Held
25Global PMTS Inc
NOTE 1.500% 3/0
$15.3M16.96M
1.3%
Held
26Granite Constr Inc
NOTE 3.250% 6/1
$13.1M8.18M
1.1%
Held
27Northern Oil & Gas Inc
NOTE 3.625% 4/1
$13.0M13.40M
1.1%
Held
28Live Nation Entertainment In
NOTE 2.875% 1/1
$11.8M11.19M
1.0%
Held
29Ford MTR Co
NOTE 3/1
$11.1M10.69M
1.0%
Held
30Peabody Engr Corp
NOTE 3.250% 3/0
$10.1M6.00M
0.9%
Held
31Bank America Corp
7.25%CNV PFD L
$9.8M7.8K
0.8%
Held
32Expedia Group Inc
NOTE 2/1
$9.3M8.30M
0.8%
Held
33Enovis Corporation
NOTE 3.875%10/1
$8.9M9.05M
0.8%
Held
34American WTR Cap Corp
NOTE 3.625% 6/1
$8.5M8.55M
0.7%
Held
35Opko Health Inc
NOTE 3.750% 1/1
$7.9M5.92M
0.7%
Held
36Vertex Inc
NOTE 0.750% 5/0
$7.7M8.10M
0.7%
Held
37Braemar Hotels & Resorts Inc
COM
$7.0M2.43M
0.6%
Held
38Freshpet Inc
NOTE 3.000% 4/0
$6.8M5.77M
0.6%
Held
39PG&E Corp
NOTE 4.250%12/0
$6.2M6.00M
0.5%
Held
40World Kinect Corporation
NOTE 3.250% 7/0
$5.4M5.09M
0.5%
Held
41Alliant Energy Corp
NOTE 3.875% 3/1
$5.2M5.00M
0.5%
Held
42Kayne Anderson Energy Infrst
COM
$5.1M415.0K
0.4%
Held
43Rivian Automotive Inc
NOTE 4.625% 3/1
$5.0M4.00M
0.4%
Held
44Affirm Hldgs Inc
NOTE 0.750%12/1
$5.0M4.50M
0.4%
Held
45Vanguard BD Index FDS
VANGUARD ULTRA
$5.0M100.0K
0.4%
Held
46Snowflake Inc
NOTE 10/0
$4.6M2.96M
0.4%
Held
47Urban One Inc
CL D NON VTG
$4.3M5.08M
0.4%
Held
48Lyft Inc
NOTE 0.625% 3/0
$4.2M3.50M
0.4%
Held
49Meritage Homes Corp
NOTE 1.750% 5/1
$4.1M4.15M
0.4%
Held
50CVR Partners LP
COM
$4.0M39.3K
0.3%
Held
Showing 50 of 141 positions

Largest options & derivatives disclosed

Put / call positions from the 13F — totals include every disclosed option leg

Put notional (bearish)$1.2M
Call notional (bullish)$3.5M
TypeUnderlyingNotional valueUnderlying shares
CALL · bullishB2GOLD CORP$1.2M934K
PUT · bearishRYDER SYS INC$466K26K
CALL · bullishGENESIS ENERGY L P$442K134K
PUT · bearishPBF ENERGY INC$325K100K
CALL · bullishDELEK US HLDGS INC NEW$315K115K
CALL · bullishGE VERNOVA INC$298K5K
CALL · bullishBKV CORP$240K50K
CALL · bullishALLIANCEBERNSTEIN HLDG L P$237K63K
PUT · bearishISHARES INC$218K300K
CALL · bullishSYMBOTIC INC$168K17K
CALL · bullishUL SOLUTIONS INC$146K20K
CALL · bullish10X GENOMICS INC$140K60K
CALL · bullishEQUINOX GOLD CORP$98K25K
CALL · bullishPARSONS CORP DEL$85K25K
CALL · bullishSILVERCORP METALS INC$77K69K
PUT · bearishHILTON WORLDWIDE HLDGS INC$77K13K
PUT · bearishGENERAL MLS INC$44K25K
PUT · bearishSPDR S&P 500 ETF TR$33K60K
PUT · bearishCARVANA CO$11K3K

13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above.

Filing history

As-of date vs the date the SEC received each filing

QuarterAs ofFiledPositionsValueForm
Q1 2026Mar 31, 2026Jun 15, 2026171$1.2B13F-HR
Q4 2025Dec 31, 2025Feb 18, 2026171$1.2B13F-HR
Q3 2025Sep 30, 2025Oct 17, 2025177$1.1B13F-HR
Q2 2025Jun 30, 2025Aug 14, 2025168$1.2B13F-HR/A
Q1 2025Mar 31, 2025May 13, 2025156$1.2B13F-HR
Q4 2024Dec 31, 2024Feb 13, 2025132$1.0B13F-HR
Amended / restated
  • Q2 2025 · filed Aug 14, 202513F-HR/A · superseded
  • Q2 2025 · filed Aug 12, 202513F-HR · superseded

Data source

Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. The performance line is a simulation of the disclosed long book, not an audited return.