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ZAZOVE ASSOCIATES LLC

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13F filer, CIK 1009012, INCLINE VILLAGE, NV

ZAZOVE ASSOCIATES LLC reported $1,104,934,163 across 170 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-10-17. Its ten largest share positions make up 43.25% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-25-002864

Period
2025-09-30
Reported value
$1.1B
Holdings
170
Top 10 weight
43.25%
New
38
Sold out
33

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BANK OF AMER CORPnew+7,417$9.5M
MNTNnew+50,000$928K
BKDnew+100,000$847K
ASAnew+17,700$811K
Sandstorm Gold Ltdnew+50,000$626K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GRNTexited-815,420-$5.19M
UANreduced-38,355-$3.46M
KYNreduced-97,572-$1.21M
GROYreduced-235,000-$907K
EOSEexited-175,000-$896K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001420506-25-002864, largest first. % of portfolio is the value over $1,101,236,104, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BANK OF AMER CORPBANK OF AMER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 7,417 shares 7,417$9.5M0.86%new
BHRBRAEMAR HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,101,511 shares; 2024Q4: 2,088,686 shares; 2025Q1: 2,088,686 shares; 2025Q2: 2,088,686 shares; 2025Q3: 2,269,263 shares 2,269,263$6.2M0.56%+180,577Timeline
VUSBVANGUARD BD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares 100,000$5M0.45%0Timeline
KYNKAYNE ANDERSON ENERGY INFRSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 676,943 shares; 2024Q4: 676,943 shares; 2025Q1: 592,945 shares; 2025Q2: 485,533 shares; 2025Q3: 387,961 shares 387,961$4.8M0.44%-97,572Timeline
URBAN ONE INCURBAN ONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,647,063 shares; 2024Q4: 4,158,977 shares; 2025Q1: 4,702,775 shares; 2025Q2: 4,899,707 shares; 2025Q3: 5,024,431 shares 5,024,431$3.62M0.33%+124,724
UANCVR PARTNERS LP/CVR NITROGENQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 77,700 shares; 2024Q4: 77,700 shares; 2025Q1: 6,400 shares; 2025Q2: 77,700 shares; 2025Q3: 39,345 shares 39,345$3.55M0.32%-38,355Timeline
WESTWESTROCK COFFEE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 885,589 shares; 2024Q4: 873,079 shares; 2025Q1: 771,505 shares; 2025Q2: 708,035 shares; 2025Q3: 623,975 shares 623,975$3.03M0.28%-84,060Timeline
RUMBWRUM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,116,370 shares; 2024Q4: 1,070,642 shares; 2025Q1: 1,078,092 shares; 2025Q2: 1,086,672 shares; 2025Q3: 1,118,221 shares 1,118,221$2.25M0.2%+31,549Timeline
CCOCLEAR CHANNEL OUTDOOR HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,842,775 shares; 2024Q4: 1,842,775 shares; 2025Q1: 2,094,793 shares; 2025Q2: 1,529,804 shares; 2025Q3: 1,225,000 shares 1,225,000$1.94M0.18%-304,804Timeline
USA RARE EARTH INCUSA RARE EARTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 223,418 shares; 2025Q3: 223,418 shares 223,418$1.6M0.15%0
REALTHE REALREAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 196,596 shares; 2025Q3: 140,000 shares 140,000$1.49M0.14%-56,596Timeline
PURECYCLE TECHNOLOGIES INCPURECYCLE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 378,757 shares; 2024Q4: 389,857 shares; 2025Q1: 396,107 shares; 2025Q2: 400,787 shares; 2025Q3: 436,999 shares 436,999$1.48M0.13%+36,212
LUXELUXEXPERIENCE BVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 130,341 shares; 2025Q2: 123,972 shares; 2025Q3: 170,000 shares 170,000$1.45M0.13%+46,028Timeline
STKLSUNOPTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 237,949 shares; 2025Q1: 340,447 shares; 2025Q2: 209,168 shares; 2025Q3: 240,000 shares 240,000$1.41M0.13%+30,832Timeline
GROYGOLD ROYALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 241,000 shares; 2024Q4: 441,000 shares; 2025Q1: 629,758 shares; 2025Q2: 560,000 shares; 2025Q3: 325,000 shares 325,000$1.25M0.11%-235,000Timeline
NET POWER INCNET POWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,354,413 shares; 2024Q4: 1,416,590 shares; 2025Q1: 1,420,990 shares; 2025Q2: 1,425,190 shares; 2025Q3: 1,486,590 shares 1,486,590$1.12M0.1%+61,400
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 50,000 shares; 2025Q1: not reported; 2025Q2: 80,000 shares; 2025Q3: 100,000 shares 100,000$1.12M0.1%+20,000Timeline
GDLGDL FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,522 shares; 2024Q4: 200,522 shares; 2025Q1: 120,522 shares; 2025Q2: 120,522 shares; 2025Q3: 120,522 shares 120,522$1.03M0.09%0Timeline
MNTNMNTN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 50,000 shares 50,000$928K0.08%newTimeline
BULLWWEBULL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 145,605 shares; 2025Q3: 145,605 shares 145,605$881K0.08%0Timeline
JOBY AVIATION INCJOBY AVIATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 145,000 shares; 2025Q3: 145,000 shares 145,000$875K0.08%0
BKDBROOKDALE SR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$847K0.08%newTimeline
NCMINATIONAL CINEMEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 68,106 shares; 2025Q3: 180,239 shares 180,239$813K0.07%+112,133Timeline
ASAASA GOLD AND PRECIOUS MTLS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,700 shares 17,700$811K0.07%newTimeline
ODVOSISKO DEVELOPMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 607,152 shares; 2024Q4: 592,862 shares; 2025Q1: 590,294 shares; 2025Q2: 200,000 shares; 2025Q3: 200,000 shares 200,000$678K0.06%0Timeline
URBAN ONE INCURBAN ONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 559,561 shares; 2024Q4: 461,516 shares; 2025Q1: 461,516 shares; 2025Q2: 461,516 shares; 2025Q3: 461,516 shares 461,516$642K0.06%0
Sandstorm Gold LtdSandstorm Gold LtdQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 75,000 shares; 2025Q2: not reported; 2025Q3: 50,000 shares 50,000$626K0.06%new
THCHTH INTERNATIONAL LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 254,426 shares; 2025Q2: 254,426 shares; 2025Q3: 237,693 shares 237,693$616K0.06%-16,733Timeline
ENVXENOVIX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares; 2025Q3: 50,000 shares 50,000$498K0.05%0Timeline
CPRICAPRI HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares; 2025Q3: 25,000 shares 25,000$498K0.05%0Timeline
HDSNHUDSON TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 56,250 shares; 2024Q4: 56,250 shares; 2025Q1: 56,250 shares; 2025Q2: 56,250 shares; 2025Q3: 50,000 shares 50,000$496K0.05%-6,250Timeline
BRAEMAR HOTELS & RESORTS INCBRAEMAR HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 27,512 shares 27,512$445K0.04%new
NNAVWNEXTNAV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 5,500 shares; 2025Q2: 5,500 shares; 2025Q3: 70,580 shares 70,580$392K0.04%+65,080Timeline
BRCCBRC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 126,200 shares; 2025Q2: 258,021 shares; 2025Q3: 248,021 shares 248,021$387K0.04%-10,000Timeline
BRKRPBRUKER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,300 shares 1,300$352K0.03%newTimeline
OPPFI INCOPPFI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 140,587 shares 140,587$323K0.03%new
OPKOPKO HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 4,900 shares; 2025Q1: 207,600 shares; 2025Q2: 207,600 shares; 2025Q3: 207,600 shares 207,600$322K0.03%0Timeline
WELLS FARGO & COWELLS FARGO & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 220 shares; 2025Q3: 220 shares 220$272K0.02%0
RLJ LODGING TRRLJ LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,266 shares; 2024Q4: 9,266 shares; 2025Q1: 9,266 shares; 2025Q2: 9,266 shares; 2025Q3: 9,266 shares 9,266$234K0.02%0
ARCHER AVIATION INCARCHER AVIATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares 100,000$220K0.02%0
HOSHORNBECK OFFSHORE SERVICES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 30,400 shares; 2025Q1: 30,400 shares; 2025Q2: 30,400 shares; 2025Q3: 30,400 shares 30,400$199K0.02%0Timeline
GCT SEMICONDUCTOR HLDG INCGCT SEMICONDUCTOR HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 668,646 shares; 2024Q4: 668,646 shares; 2025Q1: 668,646 shares; 2025Q2: 668,646 shares; 2025Q3: 668,646 shares 668,646$130K0.01%0
PSQ HOLDINGS INCPSQ HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 270,640 shares; 2024Q4: 448,492 shares; 2025Q1: 448,492 shares; 2025Q2: 454,488 shares; 2025Q3: 491,935 shares 491,935$96K0.01%+37,447
EPR PPTYSEPR PPTYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 807 shares; 2025Q3: 2,983 shares 2,983$95.4K0.01%+2,176
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,000 shares; 2024Q4: 5,000 shares; 2025Q1: 5,000 shares; 2025Q2: 5,000 shares; 2025Q3: 5,000 shares 5,000$85.8K0.01%0Timeline
EL PASO ENERGY CAP TR IEL PASO ENERGY CAP TR IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,321 shares; 2024Q4: 1,321 shares; 2025Q1: 1,321 shares; 2025Q2: 1,321 shares; 2025Q3: 1,321 shares 1,321$65.7K0.01%0
AUROWAURORA INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 67,700 shares 67,700$38.6K<0.01%newTimeline
EOS ENERGY ENTERPRISES, INCEOS ENERGY ENTERPRISES, INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,300 shares 17,300$30.4K<0.01%new
LANVIN GROUP HOLDINGS LIMITELANVIN GROUP HOLDINGS LIMITEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,334,846 shares; 2024Q4: 1,334,846 shares; 2025Q1: 1,334,846 shares; 2025Q2: 1,334,846 shares; 2025Q3: 1,334,846 shares 1,334,846$26.2K<0.01%0
MIRMIRION TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 461 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,000 shares 1,000$23.3K<0.01%newTimeline
PEOADAM NAT RES FD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,819 shares; 2024Q4: 1,901 shares; 2025Q1: 886 shares; 2025Q2: 908 shares; 2025Q3: 930 shares 930$20K<0.01%+22Timeline
AIIOWROBO.AI INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 64,571 shares; 2024Q4: 64,571 shares; 2025Q1: 64,571 shares; 2025Q2: 64,571 shares; 2025Q3: 64,571 shares 64,571$10.1K<0.01%0Timeline
RDZNWROADZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,602 shares; 2024Q4: 150,602 shares; 2025Q1: 150,602 shares; 2025Q2: 150,602 shares; 2025Q3: 150,602 shares 150,602$9.64K<0.01%0Timeline
AIRJWAIRJOULE TECHNOLOGIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,100 shares; 2024Q4: 9,100 shares; 2025Q1: 9,100 shares; 2025Q2: 9,100 shares; 2025Q3: 9,100 shares 9,100$7.74K<0.01%0Timeline
SPWRWSUNPOWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,171 shares; 2024Q4: 25,171 shares; 2025Q1: 25,171 shares; 2025Q2: 25,171 shares; 2025Q3: 25,171 shares 25,171$7.11K<0.01%0Timeline
ALGOMA STL GROUP INCALGOMA STL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: not reported; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 4,540 shares 4,540$696<0.01%-5,460

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
PBF ENERGY INCPBF ENERGY INC CL Aput100,000$455Knew
B2GOLD CORPB2GOLD CORP COMcall351,500$404K0
FLUTTER ENTMT PLCFLUTTER ENTMT PLC SHScall20,000$286Knew
XRTSPDR SERIES TRUST ETFput70,000$286K-5,000
CVR ENERGY INCCVR ENERGY INC COMcall35,300$219Knew
DIAGEO PLCDIAGEO PLC SPON ADR NEWput28,800$200Knew
BLOOM ENERGY CORPBLOOM ENERGY CORP PUTput10,000$200Knew
URAGLOBAL X FDS GLOBAL X URANIUMcall60,000$192Knew
BRUKER CORPBRUKER CORP COMcall51,000$168Knew
SILVERCORP METALS INCSILVERCORP METALS INC COMcall103,200$158K0
ALLIANCEBERNSTEIN HLDG L PALLIANCEBERNSTEIN HLDG L P UNIT LTD PARTNcall184,400$151K+117,000
ISHARES SILVER TRISHARES SILVER TR CALLcall50,000$130K+41,300
PLUG PWR INCPLUG PWR INC COM NEWput300,000$116K-150,000
DELEK US HLDGS INC NEWDELEK US HLDGS INC NEW COMcall30,000$106Knew
GENESIS ENERGY L PGENESIS ENERGY L P UNIT LTD PARTNcall25,000$106Knew
EQUINOX GOLD CORPEQUINOX GOLD CORP COMcall25,000$87.4K-125,000
KOHLS CORPKOHLS CORP PUTput60,000$76.5Knew
MEDICAL PROPERTIES TRUST INCMEDICAL PROPERTIES TRUST INC COMput150,000$73.5K0
EWGISHARES INC MSCI GERMANY ETFput100,000$65Knew
UL SOLUTIONS INCUL SOLUTIONS INC CLASS A COM SHScall10,000$62.5Knew
RYDER SYS INCRYDER SYS INC PUTput10,000$48.5Knew
10X GENOMICS INC10X GENOMICS INC CL A COMcall20,000$40.5Knew
STATE STR SPDR S&P 500 ETF TSTATE STR SPDR S&P 500 ETF T PUTput38,500$31.8K+11,500
DRAFTKINGS INC NEWDRAFTKINGS INC NEW CALLcall50,000$31K0
USA RARE EARTH INCUSA RARE EARTH INC PUTput10,000$4Knew
CVR PARTNERS LP/CVR NITROGENCVR PARTNERS LP/CVR NITROGEN CALLcall100$228new

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
PARSONS CORP DELPARSONS CORP DEL NOTE 2.625% 3/0principal56,887,000$64.9M-13,644,000
VENTAS RLTY LTD PARTNERSHIPVENTAS RLTY LTD PARTNERSHIP NOTE 3.750% 6/0principal47,695,000$61.4M-9,305,000
TETRA TECH INC NEWTETRA TECH INC NEW DBCV 2.250% 8/1principal56,415,000$60.8M-11,004,000
TYLER TEX INDPT SCH DISTTYLER TEX INDPT SCH DIST NOTE 0.250% 3/1principal46,655,000$51.4M+1,235,000
MKS INC.MKS INC. NOTE 1.250% 6/0principal41,170,000$45.2M-1,185,000
DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW CONV BNDprincipal41,685,000$44.7M-12,860,000
FLUOR CORPFLUOR CORP NOTE 1.125% 8/1principal35,620,000$42.3M+12,655,000
ITRON INCITRON INC NOTE 1.375% 7/1principal32,480,000$37.3M+3,050,000
VARONIS SYS INCVARONIS SYS INC NOTE 1.000% 9/1principal32,635,000$35.3Mnew
BOFA FIN LLCBOFA FIN LLC MTNF 0.600% 5/2principal33,127,000$32.8M-24,630,000
PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1principal28,080,000$32.1M-14,640,000
SOUTHERN COSOUTHERN CO NOTE 4.500% 6/1principal26,965,000$30.1M-7,530,000
GLOBAL PMTS INCGLOBAL PMTS INC NOTE 1.500% 3/0principal32,660,000$29.9M-27,265,000
HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 2.500% 6/0principal31,950,000$29.5M-10,675,000
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD Convertibleprincipal23,675,000$28.2Mnew
REPLIGEN CORPREPLIGEN CORP NOTE 1.000%12/1principal26,250,000$26.5M-700,000
Shopify IncShopify Inc Convertible bondprincipal23,255,000$24.5Mnew
EVERGY INCEVERGY INC NOTE 4.500%12/1principal19,265,000$24.2M-9,359,000
AEROVIRONMENT INCAEROVIRONMENT INC NOTE 7/1principal16,515,000$20.5Mnew
ADVANCED ENERGY INDSADVANCED ENERGY INDS NOTE 2.500% 9/1principal14,700,000$20.4M-23,115,000
BRAEMAR HOTELS & RESORTS INCBRAEMAR HOTELS & RESORTS INC NOTE 4.500% 6/0principal17,650,000$17.3M-490,000
BROOKDALE SR LIVING INCBROOKDALE SR LIVING INC NOTE 2.000%10/1principal14,350,000$16.8M+819,000
GRANITE CONSTR INCGRANITE CONSTR INC NOTE 3.250% 6/1principal9,850,000$15.1M-2,900,000
SNOWFLAKE INCSNOWFLAKE INC NOTE 10/0principal9,430,000$14.8Mnew
SSR Mining IncSSR Mining Inc Convertible bondprincipal10,255,000$14.5M+9,825,000
VERTEX INCVERTEX INC NOTE 0.750% 5/0principal13,155,000$13.4M+55,000
SPOTIFY USA INCSPOTIFY USA INC NOTE 3/1principal9,795,000$13.4M+4,990,000
NCL CORP LTDNCL CORP LTD BONDprincipal13,050,000$13.4Mnew
SHIFT4 PMTS INCSHIFT4 PMTS INC NOTE 0.500% 8/0principal13,270,000$13.1M-260,000
NORTHERN OIL & GAS INCNORTHERN OIL & GAS INC NOTE 3.625% 4/1principal12,826,000$12.9M+86,000
MERITAGE HOMES CORPMERITAGE HOMES CORP NOTE 1.750% 5/1principal10,650,000$10.9M-11,125,000
ENOVIS CORPORATIONENOVIS CORPORATION NOTE 3.875%10/1principal11,055,000$10.9M-260,000
OPKO HEALTH INCOPKO HEALTH INC NOTE 3.750% 1/1principal5,918,000$9.11M-210,000
COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0principal8,140,000$9.04M+6,140,000
PEABODY ENGR CORPPEABODY ENGR CORP NOTE 3.250% 3/0principal6,000,000$9.03M-9,265,000
AMERICAN WTR CAP CORPAMERICAN WTR CAP CORP NOTE 3.625% 6/1principal8,555,000$8.57M-19,750,000
KOSMOS ENERGY LTDKOSMOS ENERGY LTD NOTE 3.125% 3/1principal9,550,000$6.16M+500,000
PG&E CORPPG&E CORP NOTE 4.250%12/0principal6,000,000$6.08M-1,450,000
WORLD KINECT CORPORATIONWORLD KINECT CORPORATION Convertibleprincipal5,065,000$5.62M-210,000
EQUINOX GOLD CORPEQUINOX GOLD CORP NOTE 4.750%10/1principal2,871,000$5.53M-10,975,000
ALLIANT ENERGY CORPALLIANT ENERGY CORP NOTE 3.875% 3/1principal5,000,000$5.38M0
LYFT INCLYFT INC Convertibleprincipal3,500,000$4.54M+1,000,000
FRESHPET INCFRESHPET INC NOTE 3.000% 4/0principal3,770,000$4.24Mnew
RIVIAN AUTOMOTIVE INCRIVIAN AUTOMOTIVE INC NOTE 4.625% 3/1principal4,000,000$4.16M0
LIBERTY MEDIA CORP DELLIBERTY MEDIA CORP DEL NOTE 2.250% 8/1principal2,920,000$3.88M0
MGP INGREDIENTS INC NEWMGP INGREDIENTS INC NEW NOTE 1.875%11/1principal4,000,000$3.83M0
ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 0.500% 3/0principal4,000,000$3.72M0
TRANSMEDICS GROUP INCTRANSMEDICS GROUP INC NOTE 1.500% 6/0principal2,500,000$3.53M0
SIRIUSXM HOLDINGS INCSIRIUSXM HOLDINGS INC NOTE 3.750% 3/1principal3,300,000$3.46M0
FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1principal3,000,000$3.04Mnew
JD.COM INCJD.COM INC NOTE 0.250% 6/0principal2,520,000$2.71M0
LANTHEUS HLDGS INCLANTHEUS HLDGS INC Convertibleprincipal2,500,000$2.63M0
GROUPON INCGROUPON INC NOTE 6.250% 3/1principal2,000,000$2.33M0
CMS ENERGY CORPCMS ENERGY CORP NOTE 3.375% 5/0principal2,105,000$2.31M-2,870,000
POST HLDGS INCPOST HLDGS INC NOTE 2.500% 8/1principal2,000,000$2.25M0
FIVE9 INCFIVE9 INC CNVprincipal2,090,000$1.86M0
NCL CORP LTDNCL CORP LTD NOTE 2.500% 2/1principal1,500,000$1.58M0
NUTANIX INCNUTANIX INC Convertibleprincipal1,125,000$1.56M-505,000
ASCENDIS PHARMA A/SASCENDIS PHARMA A/S Convertible bondprincipal1,050,000$1.43M-6,420,000
ITRON INCITRON INC NOTE 3/1principal1,285,000$1.36M+830,000
EXPEDIA GROUP INCEXPEDIA GROUP INC NOTE 2/1principal897,000$906K-5,395,000
AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1principal620,000$583K-5,960,000
LITHIUM ARGENTINA AGLITHIUM ARGENTINA AG NOTE 1.750% 1/1principal500,000$451Knew
ARRAY TECHNOLOGIES INCARRAY TECHNOLOGIES INC NOTE 1.000%12/0principal495,000$431K0
SNAP INCSNAP INC NOTE 0.125% 3/0principal460,000$412K0
EVENTBRITE INCEVENTBRITE INC NOTE 0.750% 9/1principal410,000$393K0
ENPHASE ENERGY INCENPHASE ENERGY INC NOTE 3/0principal400,000$391K0
REDFIN CORPREDFIN CORP NOTE 0.500% 4/0principal420,000$390Knew
ZIFF DAVIS INCZIFF DAVIS INC DEBT 3.625% 3/0principal404,000$390Knew
JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 0.500% 4/0principal400,000$390K0
PENNYMAC CORPPENNYMAC CORP NOTE 5.500% 3/1principal382,000$382K0
BLACKSTONE MORTGAGE TRUST INBLACKSTONE MORTGAGE TRUST IN NOTE 5.500% 3/1principal385,000$381K0
OIL STS INTL INCOIL STS INTL INC NOTE 4.750% 4/0principal375,000$375K0
HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 3/0principal382,000$374K0
Esperion Therapeutics IncEsperion Therapeutics Inc NOTE 4.000%11/15/25principal375,000$373K0
CABLE ONE INCCABLE ONE INC NOTE 3/1principal353,000$345K0
THE REALREAL INCTHE REALREAL INC CNVprincipal315,000$279K0
CABLE ONE INCCABLE ONE INC NOTEprincipal310,000$268K0
VAIL RESORTS INCVAIL RESORTS INC NOTE 1/0principal260,000$257K0
MARRIOTT VACATIONS WORLDWIDEMARRIOTT VACATIONS WORLDWIDE NOTE 1/1principal260,000$256K0
OKTA INCOKTA INC NOTE 0.375% 6/1principal242,000$235K0
NOVOCURE LTDNOVOCURE LTD NOTE 11/0principal158,000$157K0
RINGCENTRAL INCRINGCENTRAL INC NOTE 3/1principal134,000$131K0
BLOCK INCBLOCK INC NOTE 5/0principal115,000$112K0
SUMMIT HOTEL PPTYSSUMMIT HOTEL PPTYS NOTE 1.500% 2/1principal100,000$98.6K0
BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0principal115,000$98.4K0
SEA LTDSEA LTD NOTE 0.250% 9/1principal84,000$80.8K0
LIBERTY INTERACTIVE LLCLIBERTY INTERACTIVE LLC DEB 3.750% 2/1principal220,000$20.1K0

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MIDDLEBY CORPMIDDLEBY CORP25,305,000$28.4Mprincipal
ALNYLAM PHARMACEUTICALS INCALNYLAM PHARMACEUTICALS INC17,845,000$23.2Mprincipal
WESTERN DIGITAL CORPWESTERN DIGITAL CORP4,000,000$7.18Mprincipal
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC4,750,000$6.78Mprincipal
BLOOM ENERGY CORPBLOOM ENERGY CORP4,000,000$5.93Mprincipal
GRNTGRANITE RIDGE RESOURCES INC815,420$5.19Mshares
COINBASE GLOBAL INCCOINBASE GLOBAL INC2,000,000$2.62Mprincipal
AMERICAN AIRLINES GROUP INCAMERICAN AIRLINES GROUP INC2,000,000$2Mprincipal
NCL CORP LTDNCL CORP LTD1,425,000$1.58Mprincipal
SOUTHERN COSOUTHERN CO830,000$917Kprincipal
EOSEEOS ENERGY ENTERPRISES INC175,000$896Kshares
UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC450,000$539Kprincipal
JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD470,000$476Kprincipal
PACIRA BIOSCIENCES INCPACIRA BIOSCIENCES INC400,000$398Kprincipal
SOLAREDGE TECHNOLOGIES INCSOLAREDGE TECHNOLOGIES INC400,000$389Kprincipal
ARBOR REALTY TRUST INCARBOR REALTY TRUST INC375,000$375Kprincipal
ZIFF DAVIS INCZIFF DAVIS INC394,000$375Kprincipal
TSLLDIREXION SHARES ETF TRUST100,000$262Kput
DICKS SPORTING GOODS INCDICKS SPORTING GOODS INC15,000$202Kput
IDEXX LABS INCIDEXX LABS INC12,500$119Kput
LUCID GROUP INCLUCID GROUP INC106,200$95Kput
CIRCLE INTERNET GROUP INCCIRCLE INTERNET GROUP INC2,500$81.2Kput
ARK ETF TRARK ETF TR30,000$77.2Kput
APPLE INCAPPLE INC17,000$73.5Kput
COREWEAVE INCCOREWEAVE INC2,500$66.8Kput
SNAP INCSNAP INC100,000$52.5Kput
PAYPAL HLDGS INCPAYPAL HLDGS INC39,100$40.1Kput
TEWST1 ENERGY INC186,863$18.7Kshares
ALIGN TECHNOLOGY INCALIGN TECHNOLOGY INC5,000$12.2Kput
ARKO CORPARKO CORP727,117$8.25Kshares
JSPRWJASPER THERAPEUTICS INC65,456$6.21Kshares
MP MATERIALS CORPMP MATERIALS CORP1,200$4.92Kcall
FIRST TR EXCHANGE-TRADED FDFIRST TR EXCHANGE-TRADED FD13,700$2.74Kput

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001420506-25-002864 base2025-10-17acceptance time not in the bulk data set