— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

ZAZOVE ASSOCIATES LLC

Q4 2025 · Filed 2026-02-18
Market Value
$59M
+12.4%
Holdings
48
-4
New Purchases
6
Added To
19
Closed
9
Reduced
5
Top 10 Concentration
70.5%
Turnover
31.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GRNT 5.43% 0.00% +5.43% $3M
BHR-PB 3.63% 0.84% +2.78% $2M
OPFI-WT 2.30% 0.61% +1.69% $1M
ASA 3.19% 1.54% +1.65% $2M
ACHR-WT 1.93% 0.42% +1.51% $1M
CCO 5.08% 3.68% +1.40% $3M
PL-WT 1.38% 0.00% +1.38% $815K
NNAVW 2.06% 0.75% +1.32% $1M
BKD 2.37% 1.61% +0.76% $1M
SYM 0.50% 0.00% +0.50% $298K
SVM 0.49% 0.00% +0.49% $288K
PCT 0.38% 0.00% +0.38% $222K
BRCC 1.01% 0.73% +0.28% $599K
AMPX-WT 0.27% 0.00% +0.27% $160K
ODV 1.53% 1.29% +0.25% $907K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
USARW 0.00% 3.04% -3.04% $0
EQX 0.00% 2.13% -2.13% $0
PCTTW 0.93% 2.81% -1.88% $552K
WEST 4.08% 5.76% -1.68% $2M
JOBY-WT 0.00% 1.66% -1.66% $0
BAC-PL 16.50% 18.05% -1.55% $10M
SAND 0.00% 1.19% -1.19% $0
VUSB 8.42% 9.50% -1.07% $5M
ENVX 0.00% 0.95% -0.95% $0
CPRI 0.00% 0.95% -0.95% $0
STKL 1.77% 2.67% -0.90% $1M
RUMBW 3.71% 4.27% -0.56% $2M
KYN 8.68% 9.11% -0.43% $5M
HLX 0.00% 0.38% -0.38% $0
HDSN 0.58% 0.94% -0.36% $342K

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 2 $10M 16.9%
Large Cap 3 $435K 0.7%
Mid Cap 13 $15M 24.8%
Small Cap 21 $22M 36.5%
Micro Cap 9 $12M 21.0%

Portfolio Analytics

Avg Market Cap
$20.4B
Median Market Cap
$1.0B
Avg P/E
40.5
Median P/E
15.3
Avg Dividend Yield
0.01%
Avg Beta
1.57
# Stocks
44
# ETFs / Funds
4

Top Holdings (48 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 BAC-PL 16.50% 7,817 $10M $1,248.46 $258K +400 +5.4%
2 BHR 11.80% 2,432,460 $7M $2.87 $786K +163,197 +7.2%
3 KYN 8.68% 414,961 $5M $12.38 $338K +27,000 +7.0%
4 VUSB 8.42% 100,000 $5M $49.84 -$16K
5 GRNT 5.43% 683,056 $3M $4.70 +683,056 NEW
6 CCO 5.08% 1,360,000 $3M $2.21 $1M +135,000 +11.0%
7 WEST 4.08% 593,726 $2M $4.07 -$616K -30,249 -4.8%
8 RUMBW 3.71% 1,129,943 $2M $1.94 -$56K +11,722 +1.1%
9 BHR-PB 3.63% 144,113 $2M $14.90 $2M +116,601 +423.8%
10 ASA 3.19% 31,655 $2M $59.67 $1M +13,955 +78.8%
11 MYTE 2.83% 200,374 $2M $8.35 $228K +30,374 +17.9%
12 REAL 2.53% 95,000 $1M $15.78 $11K -45,000 -32.1%
13 BKD 2.37% 130,000 $1M $10.79 $556K +30,000 +30.0%
14 OPFI-WT 2.30% 909,467 $1M $1.49 $1M +768,880 +546.9%
15 GROY 2.29% 335,000 $1M $4.04 $99K +10,000 +3.1%
16 NNAVW 2.06% 170,655 $1M $7.16 $829K +100,075 +141.8%
17 ACHR-WT 1.93% 997,040 $1M $1.15 $922K +897,040 +897.0%
18 STKL 1.77% 275,000 $1M $3.80 -$361K +35,000 +14.6%
19 GDL 1.73% 120,522 $1M $8.47 -$10K
20 ODV 1.53% 260,000 $907K $3.49 $229K +60,000 +30.0%
21 PL-WT 1.38% 95,000 $815K $8.58 +95,000 NEW
22 BRCC 1.01% 539,454 $599K $1.11 $212K +291,433 +117.5%
23 THCH 0.96% 228,387 $569K $2.49 -$47K -9,306 -3.9%
24 PCTTW 0.93% 575,464 $552K $0.96 -$929K +138,465 +31.7%
25 HDSN 0.58% 50,000 $342K $6.85 -$154K
26 SYM 0.50% 5,000 $298K $59.50 +5,000 NEW
27 SVM 0.49% 34,500 $288K $8.34 +34,500 NEW
28 WFC-PL 0.45% 220 $267K $1,215.00 -$5K
29 RLJ-PA 0.39% 9,266 $231K $24.97 -$3K
30 PCT 0.38% 25,869 $222K $8.59 +25,869 NEW
31 OPK 0.32% 150,000 $189K $1.26 -$133K -57,600 -27.8%
32 AMPX-WT 0.27% 61,891 $160K $2.59 +61,891 NEW
33 EPR-PE 0.15% 2,983 $90K $30.17 -$5K
34 ET 0.14% 5,000 $82K $16.49 -$3K
35 EP-PC 0.09% 1,121 $55K $49.25 -$10K -200 -15.1%
36 PEO 0.03% 950 $21K $21.74 $639 +20 +2.1%
37 AUROW 0.03% 67,700 $16K $0.23 -$23K
38 AIRJW 0.02% 15,700 $14K $0.90 $6K +6,600 +72.5%
39 CSLRW 0.01% 25,171 $7K $0.26 -$550
40 MIR —% -$23K -1,000 -100.0% SOLD
41 ENVX —% -$498K -50,000 -100.0% SOLD
42 EQX —% -$1M -100,000 -100.0% SOLD
43 SAND —% -$626K -50,000 -100.0% SOLD
44 HLX —% -$199K -30,400 -100.0% SOLD
45 USARW —% -$2M -223,418 -100.0% SOLD
46 CPRI —% -$498K -25,000 -100.0% SOLD
47 EOSEW —% -$30K -17,300 -100.0% SOLD
48 JOBY-WT —% -$875K -145,000 -100.0% SOLD

Options Breakdown

1 Calls $0 Call Value 2 Puts $0 Put Value

Top Calls

SymbolSharesValueStatus
URA $0 SOLD

Top Puts

SymbolSharesValueStatus
XRT $0 SOLD
EWG $0 SOLD

New Positions

SymbolValue% Port
GRNT $3M 5.43%
PL-WT $815K 1.38%
SYM $298K 0.50%
SVM $288K 0.49%
PCT $222K 0.38%
AMPX-WT $160K 0.27%

Sold Out Positions

SymbolValue% Port
CPRI —%
HLX —%
MIR —%
ENVX —%
EQX —%
JOBY-WT —%
SAND —%
EOSEW —%
USARW —%
View SEC EDGAR Filings for ZAZOVE ASSOCIATES LLC →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms