Zazove Associates provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and portfolio management for institutions. The firm advises 5 private funds.
Zazove Associates reports 72 clients. They include 53 insurance companies, 7 pooled investment vehicles, and 7 corporations and other businesses. Of its assets, 100.0% ($1.97B across 72 accounts) are managed with discretion. Of its clients, 19% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 10% | 14% |
| Pension and profit-sharing plans | 6% | 5% |
| State or municipal government entities | 1% | 8% |
| Insurance companies | 74% | 63% |
| Corporations and other businesses | 10% | 10% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 7 | $266M | 13.5% | $38M |
| Pension and profit-sharing plans | Fewer than 5 | $99.1M | 5.0% | $24.8M |
| State or municipal government entities | Fewer than 5 | $159M | 8.1% | $159M |
| Insurance companies | 53 | $1.25B | 63.4% | $23.5M |
| Corporations and other businesses | 7 | $194M | 9.9% | $27.7M |
| Total | 72 | $1.97B | 100% | — |
- Clients
- 7
- Regulatory AUM
- $266M
- AUM share
- 13.5%
- Avg. per client
- $38M
- Clients
- Fewer than 5
- Regulatory AUM
- $99.1M
- AUM share
- 5.0%
- Avg. per client
- $24.8M
- Clients
- Fewer than 5
- Regulatory AUM
- $159M
- AUM share
- 8.1%
- Avg. per client
- $159M
- Clients
- 53
- Regulatory AUM
- $1.25B
- AUM share
- 63.4%
- Avg. per client
- $23.5M
- Clients
- 7
- Regulatory AUM
- $194M
- AUM share
- 9.9%
- Avg. per client
- $27.7M
Total
- Clients
- 72
- Regulatory AUM
- $1.97B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 19%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 5
Zazove Associates is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Zazove Associates, Inc. owns 75% or more of Zazove Associates and is in turn owned by Gene Pretti (75% or more). Gene Pretti is CEO; the leadership team includes Chief Compliance Officer Lamiaa Dukaj. It has 21 employees, 11 of them in advisory roles.
Leadership
- Gene PrettiChief Executive Officer; Member
- Lamiaa DukajChief Compliance Officer
- Robert ShelbyManaging Partner/Member
Staff
- 21 employees
- 11 in advisory functions
- 1 soliciting firm
- Owns 75% or more of Zazove Associates LLC
Zazove Associates, Inc.
Control person · since January 1995
- Owns 75% or more of Zazove Associates, Inc.
Gene Pretti
Control person · since March 1989
- Owns 10% to 25% of Zazove Associates LLC
Robert Shelby
Control person · since January 2023
Zazove Associates’ regulatory assets fell from $2.29B (July 2021) to $1.97B (April 2026); clients fell from 76 to 72 and employees from 25 to 21.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $1.97B | 72 | 21 | 1 |
| March 2025 | $2.07B | 74 | 22 | 1 |
| April 2024 | $2.29B | 83 | 25 | 1 |
| May 2023 | $2.28B | 82 | 25 | 1 |
| February 2022 | $2.52B | 82 | 24 | 2 |
| July 2021 | $2.29B | 76 | 25 | 2 |
Besides its headquarters, Zazove Associates has 0 offices, with 1 listed address in Nevada.
Nevada · 1 listed address
- 1001 Tahoe BLVD, Incline VillageHQ
Contact and registration details
- Legal name
- Zazove Associates LLC
- Headquarters
- 1001 Tahoe BLVD, Incline Village, NV 89451
- Website
- zazove.com
- Phone
- 775-298-7500
- @zazove-associates-llc
- SEC file
- 801-34818
- Structure
- Delaware LLC
- Fiscal year end
- December
Zazove Associates uses US Bank National Associaton ($499M, 60%) and State Street Bank and Trust ($333M, 40%) as custodians for its separately managed accounts. Zazove Associates has custody of $183M in client assets for 5 clients.
- US Bank National AssociatonUS Bank National Associaton · Cincinnati, OH · $499M60%
- State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $333M40%
At year end, Zazove Associates’ separately managed accounts were mostly in bonds (95%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.22B across 151 positions; the largest are Tetra Tech Inc. New (5.1%), Parsons Corp. Del (4.6%) and Southern CO (4.5%).
What the accounts hold
- Stocks2%
- Bonds95%
- Investment grade corporate bonds57%
- High-yield corporate bonds38%
- Cash3%
Reported 13F holdings
- $1.22B
- Reported 13F value
- 151
- Positions
- 39.5%
- In the 10 largest
- −42.2%
- Value vs. prior quarter
- Tetra Tech Inc. New · Dbcv 2.250% 8/15.1%
- Parsons Corp. Del · Note 2.625% 3/04.6%
- Southern CO · Note 4.500% 6/14.5%
- Alibaba Group Hldg Ltd · Note 0.500% 6/04.4%
- Fluor Corp. · Note 1.125% 8/14.1%
- Bank OF Amer Corp. · 7.25%cnv Pfd L3.7%
- Itron Inc. · Note 1.375% 7/13.5%
- Bofa Fin LLC · Mtnf 0.600% 5/23.3%
- Cyberark Software Ltd · Note 6/13.2%
- Nutanix Inc. · Note 0.250%10/03.1%
Together, the ten largest are 39.5% of reported value.
How many clients does Zazove Associates have?
Zazove Associates has 72 clients and manages $1.97 billion for them, as of April 2026. They include 53 insurance companies, 7 pooled investment vehicles, and 7 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 April 2026
What services does Zazove Associates offer?
Zazove Associates provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Zazove Associates use?
Zazove Associates’ separately managed account assets are held at US Bank National Associaton (Cincinnati, OH), with $499M and State Street Bank and Trust Company (Boston, MA), with $333M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 April 2026
How many financial advisors does Zazove Associates have?
Zazove Associates has 0 investment adviser representatives registered with state securities authorities, out of 21 employees, and 11 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Zazove Associates invest in?
At the end of its last fiscal year, Zazove Associates’ separately managed accounts held 57% investment grade corporate bonds, 38% high-yield corporate bonds, 3% cash and equivalents and 2% exchange-traded equities. It advises 5 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Zazove Associates?
Zazove Associates is owned through a holding company by Gene Pretti. Its direct owners are Zazove Associates, Inc. (75% or more) and Robert Shelby (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 29 April 2026
How does Zazove Associates get paid?
Zazove Associates is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Zazove Associates registered with the SEC?
Yes, Zazove Associates has been registered with the SEC as an investment adviser since 18 August 1989. Its CRD number is 104751 and its SEC file number is 801-34818.
Source: Form ADV Part 1A, Item 1, filed 29 April 2026; IAPD firm record
How do I contact Zazove Associates?
Zazove Associates’ main office is at 1001 Tahoe BLVD, Incline Village, NV 89451. Its phone number is 775-298-7500. Its website is zazove.com.