Fund Holdings

ZAZOVE ASSOCIATES LLC

Filing Period:
Securities
SharesValue ($K)
Q2 2025
Q3 2025
Change
Q2 2025
Q3 2025
Weight (%)
Change
VARONIS SYS INC(VRNS)000035,341,7803.21%+35,341,780
JAZZ INVESTMENTS I LTD(JAZZ)000028,180,3812.56%+28,180,381
SHOPIFY INC(SHOP)000024,487,9012.22%+24,487,901
AEROVIRONMENT INC(AVAV)000020,521,2071.86%+20,521,207
SNOWFLAKE INC(SNOW)000014,767,8891.34%+14,767,889
SSR MINING IN000452,60514,529,1361.32%+14,076,531
NCL CORP LTD(NCLH)000013,406,7311.22%+13,406,731
FLUOR CORP(FLR)00030,135,93442,327,3033.84%+12,191,369
BANK AMERICA CORP07,417+7,41709,501,2140.86%+9,501,214
COINBASE GLOBAL INC(COIN)0002,315,7159,037,6450.82%+6,721,930
SPOTIFY USA INC(SPOT)0007,281,96813,418,3671.22%+6,136,399
FRESHPET INC(FRPT)00004,235,3560.38%+4,235,356
MKS INC.(MKSI)00041,892,68745,225,8914.11%+3,333,204
FORD MTR CO(F)00003,041,9000.28%+3,041,900
BROOKDALE SR LIVING INC(BKD)00014,259,23716,781,4221.52%+2,522,185
ITRON INC(ITRI)00035,081,30237,346,2583.39%+2,264,956
LYFT INC(LYFT)0002,683,8964,540,8130.41%+1,856,917
BRAEMAR HOTELS & RESORTS INC2,088,6862,269,263+180,5775,117,2816,195,0880.56%+1,077,807
USA RARE EARTH INC223,418223,4180528,3841,600,7900.15%+1,072,406
MNTN INC050,000+50,0000927,5000.08%+927,500
BROOKDALE SR LIVING INC(BKD)0100,000+100,0000847,0000.08%+847,000
ITRON INC(ITRI)000515,6601,361,7520.12%+846,092
ASA GOLD AND PRECIOUS MTLS L017,700+17,7000810,6600.07%+810,660
EQUINOX GOLD CORP(EQX)80,000100,000+20,000460,0001,122,0000.10%+662,000
OPKO HEALTH INC(OPK)0008,471,9609,108,3570.83%+636,397
SANDSTORM GOLD LTD050,000+50,0000626,0000.06%+626,000
NET POWER INC1,425,1901,486,590+61,400498,8171,124,2340.10%+625,417
THE REALREAL INC(REAL)196,596140,000-56,596941,6951,488,2000.14%+546,505
JOBY AVIATION INC(JOBY)145,000145,0000346,550875,0750.08%+528,525
URBAN ONE INC4,899,7075,024,431+124,7243,121,1133,620,6050.33%+499,492
NATIONAL CINEMEDIA INC68,106180,239+112,133329,974812,8780.07%+482,904
LUXEXPERIENCE BV(LUXE)123,972170,000+46,028984,3381,445,0000.13%+460,662
PBF ENERGY INC(PBF)(Put)0100,000+100,0000454,750+454,750
LITHIUM ARGENTINA AG(LAR)0000451,1900.04%+451,190
BRAEMAR HOTELS & RESORTS INC027,512+27,5120444,5940.04%+444,594
REDFIN CORP0000390,4240.04%+390,424
ZIFF DAVIS INC(ZD)0000390,2620.04%+390,262
NEXTNAV INC(NN)5,50070,580+65,08034,925392,4250.04%+357,500
BRUKER CORP(BRKR)01,300+1,3000352,1700.03%+352,170
OPPFI INC(OPFI)0140,587+140,5870322,6470.03%+322,647
WEBULL CORP(BULL)145,605145,6050581,692880,9100.08%+299,218
FLUTTER ENTMT PLC(FLUT)(Call)020,000+20,0000286,000+286,000
OSISKO DEVELOPMENT CORP200,000200,0000428,000678,0000.06%+250,000
ALLIANT ENERGY CORP(LNT)0005,149,1975,384,4360.49%+235,239
CVR ENERGY INC(CVI)(Call)035,300+35,3000218,860+218,860
DIAGEO PLC(DEO)(Put)028,800+28,8000200,160+200,160
BLOOM ENERGY CORP(Put)010,000+10,0000199,500+199,500
SUNOPTA INC209,168240,000+30,8321,213,1741,406,4000.13%+193,226
GLOBAL X FDS(Call)060,000+60,0000192,000+192,000
BRUKER CORP(BRKR)(Call)051,000+51,0000168,300+168,300
CLEAR CHANNEL OUTDOOR HLDGS(CCO)1,529,8041,225,000-304,8041,789,8711,935,5000.18%+145,629
ISHARES SILVER TR(SLV)(Call)8,70050,000+41,30017,357130,000+112,643
DELEK US HLDGS INC NEW(Call)030,000+30,0000106,500+106,500
GENESIS ENERGY L P(GEL)(Call)025,000+25,0000106,250+106,250
RIVIAN AUTOMOTIVE INC(RIVN)0004,072,3534,155,3740.38%+83,021
NCL CORP LTD(NCLH)0001,498,3981,580,6360.14%+82,238
JD.COM INC(JD)0002,634,2212,711,1180.25%+76,897
KOHLS CORP(KSS)(Put)060,000+60,000076,500+76,500
EPR PPTYS(EPR)8072,983+2,17625,13095,4110.01%+70,281
ISHARES INC(Put)0100,000+100,000065,000+65,000
GCT SEMICONDUCTOR HLDG INC668,646668,646064,825129,5170.01%+64,692
ALLIANCEBERNSTEIN HLDG L P(AB)(Call)67,400184,400+117,00087,620151,260+63,640
UL SOLUTIONS INC(ULS)(Call)010,000+10,000062,500+62,500
BRAEMAR HOTELS & RESORTS INC00017,233,00017,293,2251.57%+60,225
CAPRI HOLDINGS LIMITED25,00025,0000442,500498,0000.05%+55,500
BRC INC258,021248,021-10,000338,008386,9130.04%+48,905
RYDER SYS INC(Put)010,000+10,000048,500+48,500
OPKO HEALTH INC(OPK)207,600207,6000274,032321,7800.03%+47,748
MGP INGREDIENTS INC NEW0003,787,2553,831,3990.35%+44,144
ARRAY TECHNOLOGIES INC(ARRY)000390,134430,7760.04%+40,642
10X GENOMICS INC(TXG)(Call)020,000+20,000040,500+40,500
SPDR SERIES TRUST(Put)75,00070,000-5,000245,250285,600+40,350
HUDSON TECHNOLOGIES INC56,25050,000-6,250456,750496,5000.05%+39,750
AURORA INNOVATION INC067,700+67,700038,6260.00%+38,626
EOS ENERGY ENTERPRISES INC017,300+17,300030,4480.00%+30,448
CABLE ONE INC000238,918267,7560.02%+28,838
THE REALREAL INC(REAL)000254,212279,3460.03%+25,134
GDL FD120,522120,52201,005,5751,030,4510.09%+24,876
MIRION TECHNOLOGIES INC(MIR)01,000+1,000023,2600.00%+23,260
EVENTBRITE INC000369,694392,6140.04%+22,920
FIVE9 INC(FIVN)0001,832,5811,855,4270.17%+22,846
SPDR S&P 500 ETF TR(SPY)(Put)27,00038,500+11,50010,63631,838+21,202
GOLD ROYALTY CORP560,000325,000-235,0001,237,6001,254,5000.11%+16,900
PLUG POWER INC(Put)450,000300,000-150,00099,000115,500+16,500
LIBERTY MEDIA CORP DEL(SIRI)0003,446,7713,461,6350.31%+14,864
WELLS FARGO CO NEW(WFC)2202200257,725272,0580.02%+14,333
RLJ LODGING TR(RLJ)9,2669,2660220,299234,0590.02%+13,760
VANGUARD BD INDEX FDS100,000100,00004,986,5004,999,5000.45%+13,000
SNAP INC(SNAP)000398,948411,7440.04%+12,796
JETBLUE AIRWAYS CORP(JBLU)000378,803389,6960.04%+10,893
CABLE ONE INC000334,256344,9920.03%+10,736
ROBO.AI INC.064,571+64,571010,0600.00%+10,060
ON SEMICONDUCTOR CORP(ON)0003,705,4123,715,3070.34%+9,895
HELIX ENERGY SOLUTIONS GRP I(HLX)30,40030,4000189,696199,4240.02%+9,728
ENPHASE ENERGY INC(ENPH)000383,349391,2320.04%+7,883
PSQ HOLDINGS INC454,488491,935+37,44791,03496,0260.01%+4,992
HAEMONETICS CORP MASS(HAE)000369,091373,8990.03%+4,808
OIL STS INTL INC000371,047375,3850.03%+4,338
MARRIOTT VACATIONS WORLDWIDE(VAC)000252,174256,3070.02%+4,133
ESPERION THERAPEUTICS INC NE000368,953372,9840.03%+4,031
Page 1 of 3