ZAZOVE ASSOCIATES LLC Information

1033 SKOKIE BLVD., SUITE 310, NORTHBROOK, Illinois, 60062, (847) 239-7100

Report Date: 12/31/2013

Position Statistics

Total Positions 37
New Positions 9
Increased Positions 16
Decreased Positions 17
Positions with Activity 33
Sold Out Positions 13
Total Mkt Value (in $ millions) 158

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0.65%
Capital Goods
Conglomerates
Consumer Cyclical 0%
Consumer/Non-Cyclical
Energy
Financial 40.46%
Healthcare 0.72%
Services 10.45%
Technology 32.73%
Transportation
Utilities 10.53%

17 DECREASED Positions as of 12/31/2013

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
KINDER MORGAN INC DEL WT EXP 052517 16,633 -62 (0.37) 8,529,704
CAPITAL ONE FINL CORP WT EXP 111418 9,877 -1,014 (9.31) 292,406
EMMIS COMMUNICATIONS CORP PFD CV SER A 6,915 -753 (9.82) 443,270
BLACKROCK DEBT STRAT FD INC COM 764 (0) 186,700
CUMULUS MEDIA INC CL A -355 Sold Out 0
GENERAL MTRS CO WT EXP 071016 -78 Sold Out 0
GENERAL MTRS CO WT EXP 123115 -6,118 Sold Out 0
GENERAL MTRS CO COM -37 Sold Out 0
GENERAL MTRS CO WT EXP 071019 -1,212 Sold Out 0
INTEL CORP COM -1,847 Sold Out 0
INTERNATIONAL GAME TECHNOLOGY COM -628 Sold Out 0
NEW YORK CMNTY CAP TR V BONUSES UNIT -33,289 Sold Out 0
PROSHARES TR II ULT VIX SHRT TRM -727 Sold Out 0
STANLEY BLACK & DECKER INC CORP UNIT -151,216 Sold Out 0
TEVA PHARMACEUTICAL INDS LTD ADR -1,627 Sold Out 0
THOMPSON CREEK METALS CO INC TG EQIT U TMED -6,054 Sold Out 0
ZIONS BANCORPORATION WT EXP 052220 -287 Sold Out 0