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Zazove Associates LLC: investment adviser
Zazove Associates LLC is an investment adviser registered with the SEC (file 801-34818, CRD 104751). What it reports on Form ADV: assets and clients, fees, owners, disciplinary history and its client brochure. From the SEC's Investment Adviser Public Disclosure site; read Oct 21, 2026.
- Assets managed
- $2.0B
- Discretionary
- 100%
- Accounts
- 72
- Employees
- 21
- In advisory roles
- 11
- Disclosures
- 0
Company page · SEC adviser record · Full Form ADV (PDF)
The firm reports that it or a related person has custody of client cash and securities.
Form ADV Part 1A, Item 5, as filed on the SEC Investment Adviser Public Disclosure site; read Oct 21, 2026.
Clients and fees
Whom the firm advises and how it is paid, from Items 5.D, 5.E and 5.G.
| Client type | Clients | Assets | Share |
|---|---|---|---|
| Private funds and other pooled vehicles | 7 | $265.8M | 13.5% |
| Pension and profit-sharing plans | 4 | $99.1M | 5.0% |
| State and local governments | 1 | $159.4M | 8.1% |
| Insurance companies | 53 | $1.2B | 63.4% |
| Corporations | 7 | $194.1M | 9.9% |
How it is paid
- A percentage of assets under your management
- Performance-based fees
Services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients (other than registered investment companies and other pooled investment vehicles)
Who owns it
Schedule A lists direct owners of 5% or more (and officers who own a stake); Schedule B lists the owners of those owners.
Direct owners (Schedule A)
| Owner | Type | Role | Stake | Since | Control | Public company |
|---|---|---|---|---|---|---|
| Zazove Associates, Inc. | Company (U.S.) | Managing member | E 75% or more | Jan 1995 | Yes | |
| Robert Ryan Shelby | Person | Managing partner/member | B 10% to 25% | Jan 2023 | Yes |
Indirect owners (Schedule B)
| Owner | Owns a stake in | Type | Stake | Control | Public company |
|---|---|---|---|---|---|
| Gene Thomas Pretti | Zazove | Person | E 75% or more | Yes |
Form ADV reports ownership in bands, not exact stakes: A means 5% to 10%, B 10% to 25%, C 25% to 50%, D 50% to 75%, E 75% or more. F marks a general partner, trustee or managing member, a role that controls the firm without a percentage. Owners of less than 5% are not listed.
Form ADV Schedules A and B, via the SEC Investment Adviser Public Disclosure site.
Disciplinary history
The firm answered No to every disciplinary question on Form ADV (Item 11).
The brochure
No brochure text was read for this firm.
Other brochures on file
- Zazove Associates, LLC Form ADV Part 2A Brochure 4-19-2024, Apr 29, 2026
- Zazove Associates, LLC Form ADV Part 2A Brochure 3-30-2026, Mar 31, 2026
Form ADV Part 2A, via the SEC Investment Adviser Public Disclosure site.