13F HOLDINGS REPORT
ZAZOVE ASSOCIATES LLC
Quarter ended Q3 2025 · Filed October 17, 2025 · Accession 0001420506-25-002864
Total Value
$1.10B
Positions
177
Other Managers
0
Confidential Omitted
No
Holdings (177)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | PARSONS CORP DEL | PSN | 56,887,000 | $64.9M | 5.88% |
| 2 | VENTAS RLTY LTD PARTNERSHIP | VTR | 47,695,000 | $61.4M | 5.56% |
| 3 | TETRA TECH INC NEW | TTEK | 56,415,000 | $60.8M | 5.50% |
| 4 | TYLER TEX INDPT SCH DIST | 902252AB1 | 46,655,000 | $51.4M | 4.65% |
| 5 | MKS INC. | MKSI | 41,170,000 | $45.2M | 4.09% |
| 6 | DUKE ENERGY CORP NEW | DUKB | 41,685,000 | $44.7M | 4.05% |
| 7 | FLUOR CORP | FLR | 35,620,000 | $42.3M | 3.83% |
| 8 | ITRON INC | ITRI | 32,480,000 | $37.3M | 3.38% |
| 9 | VARONIS SYS INC | VRNS | 32,635,000 | $35.3M | 3.20% |
| 10 | BOFA FIN LLC | 09709UV70 | 33,127,000 | $32.8M | 2.97% |
| 11 | PPL CAP FDG INC | PPLC | 28,080,000 | $32.1M | 2.91% |
| 12 | SOUTHERN CO | SOMN | 26,965,000 | $30.1M | 2.72% |
| 13 | GLOBAL PMTS INC | 37940XAU6 | 32,660,000 | $29.9M | 2.70% |
| 14 | HAEMONETICS CORP MASS | HAE | 31,950,000 | $29.5M | 2.67% |
| 15 | JAZZ INVESTMENTS I LTD | 472145AH4 | 23,675,000 | $28.2M | 2.55% |
| 16 | REPLIGEN CORP | RGEN | 26,250,000 | $26.5M | 2.39% |
| 17 | SHOPIFY INC | SHOP | 23,255,000 | $24.5M | 2.22% |
| 18 | EVERGY INC | EVRG | 19,265,000 | $24.2M | 2.19% |
| 19 | AEROVIRONMENT INC | AVAV | 16,515,000 | $20.5M | 1.86% |
| 20 | ADVANCED ENERGY INDS | 007973AE0 | 14,700,000 | $20.4M | 1.84% |
| 21 | BRAEMAR HOTELS & RESORTS INC | BHR-PD | 17,650,000 | $17.3M | 1.57% |
| 22 | BROOKDALE SR LIVING INC | 112463AC8 | 14,350,000 | $16.8M | 1.52% |
| 23 | GRANITE CONSTR INC | GVA | 9,850,000 | $15.1M | 1.37% |
| 24 | SNOWFLAKE INC | SNOW | 9,430,000 | $14.8M | 1.34% |
| 25 | SSR MINING IN | SSRGF | 10,255,000 | $14.5M | 1.31% |
| 26 | VERTEX INC | VERX | 13,155,000 | $13.4M | 1.21% |
| 27 | SPOTIFY USA INC | 84921RAB6 | 9,795,000 | $13.4M | 1.21% |
| 28 | NCL CORP LTD | 62886HBD2 | 13,050,000 | $13.4M | 1.21% |
| 29 | SHIFT4 PMTS INC | 82452JAD1 | 13,270,000 | $13.1M | 1.18% |
| 30 | NORTHERN OIL & GAS INC | NOG | 12,826,000 | $12.9M | 1.17% |
| 31 | MERITAGE HOMES CORP | MTH | 10,650,000 | $10.9M | 0.99% |
| 32 | ENOVIS CORPORATION | ENOV | 11,055,000 | $10.9M | 0.99% |
| 33 | BANK AMERICA CORP | 060505682 | 7,417 | $9.5M | 0.86% |
| 34 | OPKO HEALTH INC | OPK | 5,918,000 | $9.1M | 0.82% |
| 35 | COINBASE GLOBAL INC | COIN | 8,140,000 | $9.0M | 0.82% |
| 36 | PEABODY ENGR CORP | 704551AD2 | 6,000,000 | $9.0M | 0.82% |
| 37 | AMERICAN WTR CAP CORP | 03040WBE4 | 8,555,000 | $8.6M | 0.78% |
| 38 | BRAEMAR HOTELS & RESORTS INC | BHR-PD | 2,269,263 | $6.2M | 0.56% |
| 39 | KOSMOS ENERGY LTD | KOS | 9,550,000 | $6.2M | 0.56% |
| 40 | PG&E CORP | PCG-PX | 6,000,000 | $6.1M | 0.55% |
| 41 | WORLD KINECT CORPORATION | WKC | 5,065,000 | $5.6M | 0.51% |
| 42 | EQUINOX GOLD CORP | EQX | 2,871,000 | $5.5M | 0.50% |
| 43 | ALLIANT ENERGY CORP | LNT | 5,000,000 | $5.4M | 0.49% |
| 44 | VANGUARD BD INDEX FDS | 92203C303 | 100,000 | $5.0M | 0.45% |
| 45 | KAYNE ANDERSON ENERGY INFRST | 486606106 | 387,961 | $4.8M | 0.43% |
| 46 | LYFT INC | LYFT | 3,500,000 | $4.5M | 0.41% |
| 47 | FRESHPET INC | FRPT | 3,770,000 | $4.2M | 0.38% |
| 48 | RIVIAN AUTOMOTIVE INC | RIVN | 4,000,000 | $4.2M | 0.38% |
| 49 | LIBERTY MEDIA CORP DEL | FWONB | 2,920,000 | $3.9M | 0.35% |
| 50 | MGP INGREDIENTS INC NEW | MGPI | 4,000,000 | $3.8M | 0.35% |
| 51 | ON SEMICONDUCTOR CORP | ON | 4,000,000 | $3.7M | 0.34% |
| 52 | URBAN ONE INC | UONEK | 5,024,431 | $3.6M | 0.33% |
| 53 | CVR PARTNERS LP | UAN | 39,345 | $3.5M | 0.32% |
| 54 | TRANSMEDICS GROUP INC | TMDX | 2,500,000 | $3.5M | 0.32% |
| 55 | LIBERTY MEDIA CORP DEL | FWONB | 3,300,000 | $3.5M | 0.31% |
| 56 | FORD MTR CO | 345370CZ1 | 3,000,000 | $3.0M | 0.28% |
| 57 | WESTROCK COFFEE CO | WEST | 623,975 | $3.0M | 0.27% |
| 58 | JD.COM INC | JDCMF | 2,520,000 | $2.7M | 0.25% |
| 59 | LANTHEUS HLDGS INC | LNTH | 2,500,000 | $2.6M | 0.24% |
| 60 | GROUPON INC | GRPN | 2,000,000 | $2.3M | 0.21% |
| 61 | CMS ENERGY CORP | CMS-PC | 2,105,000 | $2.3M | 0.21% |
| 62 | POST HLDGS INC | POST | 2,000,000 | $2.3M | 0.20% |
| 63 | RUMBLE INC | RUMBW | 1,118,221 | $2.2M | 0.20% |
| 64 | CLEAR CHANNEL OUTDOOR HLDGS | CCO | 1,225,000 | $1.9M | 0.18% |
| 65 | FIVE9 INC | FIVN | 2,090,000 | $1.9M | 0.17% |
| 66 | USA RARE EARTH INC | USAR | 223,418 | $1.6M | 0.14% |
| 67 | NCL CORP LTD | 62886HBK6 | 1,500,000 | $1.6M | 0.14% |
| 68 | NUTANIX INC | NTNX | 1,125,000 | $1.6M | 0.14% |
| 69 | THE REALREAL INC | 88339P101 | 140,000 | $1.5M | 0.13% |
| 70 | PURECYCLE TECHNOLOGIES INC | PCTTW | 436,999 | $1.5M | 0.13% |
| 71 | LUXEXPERIENCE BV | 55406W103 | 170,000 | $1.4M | 0.13% |
| 72 | ASCENDIS PHARMA A/S | ASND | 1,050,000 | $1.4M | 0.13% |
| 73 | SUNOPTA INC | STKL | 240,000 | $1.4M | 0.13% |
| 74 | ITRON INC | ITRI | 1,285,000 | $1.4M | 0.12% |
| 75 | GOLD ROYALTY CORP | GROY-WT | 325,000 | $1.3M | 0.11% |
| 76 | NET POWER INC | NPWR-WT | 1,486,590 | $1.1M | 0.10% |
| 77 | EQUINOX GOLD CORP | EQX | 100,000 | $1.1M | 0.10% |
| 78 | GDL FD | 361570104 | 120,522 | $1.0M | 0.09% |
| 79 | MNTN INC | MNTN | 50,000 | $927,500 | 0.08% |
| 80 | EXPEDIA GROUP INC | EXPE | 897,000 | $905,992 | 0.08% |
| 81 | WEBULL CORP | BULLW | 145,605 | $880,910 | 0.08% |
| 82 | JOBY AVIATION INC | JOBY-WT | 145,000 | $875,075 | 0.08% |
| 83 | BROOKDALE SR LIVING INC | 112463104 | 100,000 | $847,000 | 0.08% |
| 84 | NATIONAL CINEMEDIA INC | NCMI | 180,239 | $812,878 | 0.07% |
| 85 | ASA GOLD AND PRECIOUS MTLS L | G3156P103 | 17,700 | $810,660 | 0.07% |
| 86 | OSISKO DEVELOPMENT CORP | OSDVF | 200,000 | $678,000 | 0.06% |
| 87 | URBAN ONE INC | UONEK | 461,516 | $641,507 | 0.06% |
| 88 | SANDSTORM GOLD LTD | 80013R206 | 50,000 | $626,000 | 0.06% |
| 89 | TH INTERNATIONAL LIMITED | THCH | 237,693 | $615,625 | 0.06% |
| 90 | AKAMAI TECHNOLOGIES INC | AKAM | 620,000 | $583,357 | 0.05% |
| 91 | ENOVIX CORPORATION | ENVX | 50,000 | $498,500 | 0.05% |
| 92 | CAPRI HOLDINGS LIMITED | CPRI | 25,000 | $498,000 | 0.05% |
| 93 | HUDSON TECHNOLOGIES INC | HDSN | 50,000 | $496,500 | 0.04% |
| 94 | LITHIUM ARGENTINA AG | LAR | 500,000 | $451,190 | 0.04% |
| 95 | BRAEMAR HOTELS & RESORTS INC | BHR-PD | 27,512 | $444,594 | 0.04% |
| 96 | ARRAY TECHNOLOGIES INC | ARRY | 495,000 | $430,776 | 0.04% |
| 97 | SNAP INC | SNAP | 460,000 | $411,744 | 0.04% |
| 98 | B2GOLD CORP | BTG | 351,500 | $404,225 | 0.04% |
| 99 | EVENTBRITE INC | EVEX-WT | 410,000 | $392,614 | 0.04% |
| 100 | NEXTNAV INC | NXNVW | 70,580 | $392,425 | 0.04% |
| 101 | ENPHASE ENERGY INC | ENPH | 400,000 | $391,232 | 0.04% |
| 102 | REDFIN CORP | 75737FAE8 | 420,000 | $390,424 | 0.04% |
| 103 | ZIFF DAVIS INC | ZD | 404,000 | $390,262 | 0.04% |
| 104 | JETBLUE AIRWAYS CORP | JBLU | 400,000 | $389,696 | 0.04% |
| 105 | BRC INC | BRCC | 248,021 | $386,913 | 0.04% |
| 106 | PENNYMAC CORP | 70932AAF0 | 382,000 | $381,541 | 0.03% |
| 107 | BLACKSTONE MORTGAGE TRUST IN | 09257WAE0 | 385,000 | $381,005 | 0.03% |
| 108 | OIL STS INTL INC | 678026AK1 | 375,000 | $375,385 | 0.03% |
| 109 | HAEMONETICS CORP MASS | HAE | 382,000 | $373,899 | 0.03% |
| 110 | ESPERION THERAPEUTICS INC NE | ESPR | 375,000 | $372,984 | 0.03% |
| 111 | BRUKER CORP | BRKRP | 1,300 | $352,170 | 0.03% |
| 112 | CABLE ONE INC | CABO | 353,000 | $344,992 | 0.03% |
| 113 | PBF ENERGY INC | PBF | 67,500 | $344,250 | 0.03% |
| 114 | OPPFI INC | OPFI-WT | 140,587 | $322,647 | 0.03% |
| 115 | OPKO HEALTH INC | OPK | 207,600 | $321,780 | 0.03% |
| 116 | SPDR SERIES TRUST | 78464A714 | 70,000 | $285,600 | 0.03% |
| 117 | THE REALREAL INC | 88339PAD3 | 315,000 | $279,346 | 0.03% |
| 118 | WELLS FARGO CO NEW | 949746804 | 220 | $272,058 | 0.02% |
| 119 | CABLE ONE INC | CABO | 310,000 | $267,756 | 0.02% |
| 120 | VAIL RESORTS INC | MTN | 260,000 | $256,613 | 0.02% |
| 121 | MARRIOTT VACATIONS WORLDWIDE | VAC | 260,000 | $256,307 | 0.02% |
| 122 | OKTA INC | OKTA | 242,000 | $235,145 | 0.02% |
| 123 | RLJ LODGING TR | RLJ-PA | 9,266 | $234,059 | 0.02% |
| 124 | ARCHER AVIATION INC | ACHR-WT | 100,000 | $219,500 | 0.02% |
| 125 | CVR ENERGY INC | CVI | 35,300 | $218,860 | 0.02% |
| 126 | DIAGEO PLC | DGEAF | 28,800 | $200,160 | 0.02% |
| 127 | BLOOM ENERGY CORP | BE | 10,000 | $199,500 | 0.02% |
| 128 | HELIX ENERGY SOLUTIONS GRP I | 42330P107 | 30,400 | $199,424 | 0.02% |
| 129 | GLOBAL X FDS | 37954Y871 | 60,000 | $192,000 | 0.02% |
| 130 | FLUTTER ENTMT PLC | G3643J908 | 10,000 | $180,500 | 0.02% |
| 131 | BRUKER CORP | BRKRP | 51,000 | $168,300 | 0.02% |
| 132 | NOVOCURE LTD | NVCR | 158,000 | $156,825 | 0.01% |
| 133 | RINGCENTRAL INC | RNG | 134,000 | $130,906 | 0.01% |
| 134 | ISHARES SILVER TR | SLV | 50,000 | $130,000 | 0.01% |
| 135 | GCT SEMICONDUCTOR HLDG INC | GCTS-WT | 668,646 | $129,517 | 0.01% |
| 136 | ALLIANCEBERNSTEIN HLDG L P | 01881G906 | 30,100 | $120,400 | 0.01% |
| 137 | PLUG POWER INC | PLUG | 300,000 | $115,500 | 0.01% |
| 138 | BLOCK INC | BSQKZ | 115,000 | $111,906 | 0.01% |
| 139 | SILVERCORP METALS INC | SVM | 68,700 | $111,638 | 0.01% |
| 140 | PBF ENERGY INC | PBF | 32,500 | $110,500 | 0.01% |
| 141 | DELEK US HLDGS INC NEW | DK | 30,000 | $106,500 | 0.01% |
| 142 | GENESIS ENERGY L P | GEL | 25,000 | $106,250 | 0.01% |
| 143 | FLUTTER ENTMT PLC | G3643J908 | 10,000 | $105,500 | 0.01% |
| 144 | SUMMIT HOTEL PPTYS | 866082AA8 | 100,000 | $98,596 | 0.01% |
| 145 | BANDWIDTH INC | BAND | 115,000 | $98,449 | 0.01% |
| 146 | PSQ HOLDINGS INC | PSQH-WT | 491,935 | $96,026 | 0.01% |
| 147 | EPR PPTYS | 26884U307 | 2,983 | $95,411 | 0.01% |
| 148 | ENERGY TRANSFER L P | ET-PI | 5,000 | $85,800 | 0.01% |
| 149 | SEA LTD | SE | 84,000 | $80,792 | 0.01% |
| 150 | KOHLS CORP | KSS | 60,000 | $76,500 | 0.01% |
| 151 | MEDICAL PPTYS TRUST INC | 58463J954 | 150,000 | $73,500 | 0.01% |
| 152 | EL PASO ENERGY CAP TR I | 283678209 | 1,321 | $65,654 | 0.01% |
| 153 | ISHARES INC | 464286806 | 100,000 | $65,000 | 0.01% |
| 154 | UL SOLUTIONS INC | ULS | 10,000 | $62,500 | 0.01% |
| 155 | EQUINOX GOLD CORP | EQX | 8,500 | $53,550 | 0.00% |
| 156 | RYDER SYS INC | R | 10,000 | $48,500 | 0.00% |
| 157 | SILVERCORP METALS INC | SVM | 34,500 | $46,575 | 0.00% |
| 158 | 10X GENOMICS INC | TXG | 20,000 | $40,500 | 0.00% |
| 159 | AURORA INNOVATION INC | AUROW | 67,700 | $38,626 | 0.00% |
| 160 | EQUINOX GOLD CORP | EQX | 16,500 | $33,825 | 0.00% |
| 161 | DRAFTKINGS INC NEW | DKNG | 50,000 | $31,000 | 0.00% |
| 162 | ALLIANCEBERNSTEIN HLDG L P | 01881G906 | 154,300 | $30,860 | 0.00% |
| 163 | EOS ENERGY ENTERPRISES INC | EOSE | 17,300 | $30,448 | 0.00% |
| 164 | LANVIN GROUP HOLDINGS LIMITE | LANV-WT | 1,334,846 | $26,230 | 0.00% |
| 165 | MIRION TECHNOLOGIES INC | MIR | 1,000 | $23,260 | 0.00% |
| 166 | SPDR S&P 500 ETF TR | SPY | 15,000 | $22,275 | 0.00% |
| 167 | LIBERTY MEDIA CORP DEL | FWONB | 220,000 | $20,097 | 0.00% |
| 168 | ADAM NAT RES FD INC | 00548F105 | 930 | $20,014 | 0.00% |
| 169 | ROBO.AI INC. | AIIOW | 64,571 | $10,060 | 0.00% |
| 170 | ROADZEN INC | RDZNW | 150,602 | $9,639 | 0.00% |
| 171 | SPDR S&P 500 ETF TR | SPY | 15,000 | $8,925 | 0.00% |
| 172 | AIRJOULE TECHNOLOGIES CORP | AIRJW | 9,100 | $7,735 | 0.00% |
| 173 | COMPLETE SOLARIA INC | SPWRW | 25,171 | $7,111 | 0.00% |
| 174 | USA RARE EARTH INC | USAR | 10,000 | $4,000 | 0.00% |
| 175 | ALGOMA STL GROUP INC | 015658115 | 4,540 | $696 | 0.00% |
| 176 | SPDR S&P 500 ETF TR | SPY | 8,500 | $638 | 0.00% |
| 177 | CVR PARTNERS LP | UAN | 100 | $228 | 0.00% |