ZAZOVE ASSOCIATES LLC
Q2 2025 Form 13-F
INCLINE VILLAGE, NEVADA
CIK 0001009012
· CRD 104751
· SEC-registered investment adviser
$1.2B Reported Value Total
ZAZOVE ASSOCIATES LLC reports 74 total accounts under management (AUM). There are 74 discretionary accounts valued at $2,071,646,009, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
7 funds
· $393.6M gross asset value
Hedge Fund: $393.6M
Source: Form ADV filed 2026-04-29
Reported value
$1.2B
Quarter over quarter
+4.4%
Holdings
50
Top-10 concentration
47.0%
Filing Structure
Reports holdings for
- Asset Allocation & Management Company LLC · File #028-20383 · Q1 2024 – Q1 2026 · declared by one filing
Key People
Form ADV owners & control persons
Gene Thomas Pretti
PRESIDENT; CHAIRMAN
Robert Ryan Shelby
MANAGING PARTNER/MEMBER
Lamiaa Dukaj
CHIEF COMPLIANCE OFFICER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q2 2025 13F record
Q2 2025 13F filing summary
| Period of report | June 30, 2025 |
|---|---|
| Filed | August 12, 2025 |
| Form | 13F-HR |
| Reported value | $1.2B |
| Positions | 50 |
| Change in reported value | +5.1% |
| New positions | 10 |
| Exited positions | 114 |
| Position turnover | 75.6% |
| Top-10 concentration | 47.0% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Jul 16, 2026
|
46 | $1.2B |
|
Q1 2026 13F
Filed Jun 15, 2026
|
64 | $1.2B |
|
Q4 2025 13F
Filed Feb 18, 2026
|
70 | $1.2B |
|
Q3 2025 13F
Filed Oct 17, 2025
|
56 | $1.1B |
|
Q2 2025 13F
Filed Aug 12, 2025
|
50 | $1.2B |
|
Q1 2025 13F
Filed May 13, 2025
|
48 | $1.2B |
|
Q4 2024 13F
Filed Feb 13, 2025
|
45 | $1.0B |
|
Q3 2024 13F
Filed Nov 13, 2024
|
47 | $935.2M |
|
Q2 2024 13F
Filed Aug 14, 2024
|
53 | $876.7M |
|
Q1 2024 13F
Filed May 7, 2024
|
52 | $754.4M |
|
Q4 2023 13F
Filed Jan 31, 2024
|
55 | $804.0M |
|
Q3 2023 13F
Filed Oct 31, 2023
|
65 | $964.2M |
|
Q2 2023 13F
Filed Aug 7, 2023
|
59 | $1.1B |
|
Q1 2023 13F
Filed May 4, 2023
|
65 | $1.1B |
|
Q4 2022 13F
Filed Jan 31, 2023
|
67 | $1.1B |
|
Q3 2022 13F
Filed Oct 24, 2022
|
71 | $1.1B |
|
Q2 2022 13F
Filed Dec 6, 2022
|
83 | $1.1B |
|
Q1 2022 13F
Filed Apr 22, 2022
|
73 | $1.1B |
|
Q3 2021 13F
Filed Oct 25, 2021
|
53 | $1.1B |
33 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | TTEK 2.25 08/15/28 TETRA TECH INC NEW | $76.0M | 6.18% |
| 2 | PSN 2.625 03/01/29 PARSONS CORP DEL | $75.2M | 6.12% |
| 3 | VTR 3.75 06/01/26 VENTAS RLTY LTD PARTNERSHIP | $67.6M | 5.51% |
| 4 | DUK 4.125 04/15/26 DUKE ENERGY CORP NEW | $57.8M | 4.71% |
| 5 | BAC 0.6 05/25/27 MTN BOFA FIN LLC | $56.8M | 4.63% |
| 6 | TYL 0.25 03/15/26 TYLER TEX INDPT SCH DIST | $56.0M | 4.56% |
| 7 | GPN 1.5 03/01/31 GLOBAL PMTS INC | $53.7M | 4.37% |
| 8 | PPL 2.875 03/15/28 PPL CAP FDG INC | $46.1M | 3.76% |
| 9 | AEIS 2.5 09/15/28 ADVANCED ENERGY INDS | $45.4M | 3.69% |
| 10 | HAE 2.5 06/01/29 HAEMONETICS CORP MASS | $42.4M | 3.46% |
| 11 | MKSI 1.25 06/01/30 MKS INC. | $41.9M | 3.41% |
| 12 | SO 4.5 06/15/27 SOUTHERN CO | $37.9M | 3.09% |
| 13 | ITRI 1.375 07/15/30 ITRON INC | $35.1M | 2.86% |
| 14 | EVRG 4.5 12/15/27 EVERGY INC | $33.4M | 2.72% |
| 15 | FLR 1.125 08/15/29 FLUOR CORP | $30.1M | 2.45% |
| 16 | AWK 3.625 06/15/26 AMERICAN WTR CAP CORP | $28.4M | 2.32% |
| 17 | MIDD 1 09/01/25 MIDDLEBY CORP | $28.4M | 2.31% |
| 18 | RGEN 1 12/15/28 REPLIGEN CORP | $26.8M | 2.18% |
| 19 | ALNY 1 09/15/27 ALNYLAM PHARMACEUTICALS INC | $23.2M | 1.89% |
| 20 | MTH 1.75 05/15/28 MERITAGE HOMES CORP | $21.2M | 1.73% |
Values as reported on the Q2 2025 Form 13F. Every position is in the holdings table below.