ZAZOVE ASSOCIATES LLC Information

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

Report Date: 03/31/2014

Position Statistics

Total Positions 31
New Positions 7
Increased Positions 14
Decreased Positions 6
Positions with Activity 20
Sold Out Positions 3
Total Mkt Value (in $ millions) 342

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

Sector Weighting

Basic Materials 3.5%
Capital Goods
Conglomerates
Consumer Cyclical 55.74%
Consumer/Non-Cyclical
Energy
Financial 22.28%
Healthcare 0.41%
Services 7.03%
Technology 0%
Transportation
Utilities 9.33%

14 INCREASED Positions as of 03/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
STANLEY BLACK & DECKER INC CORP UNIT 181,157 181,157 New 1,361,570
KINDER MORGAN INC DEL WT EXP 052517 31,868 10,561 49.56 12,757,307
AMERICAN INTL GROUP INC WT EXP 011921 26,077 1,907 7.89 987,784
WELLS FARGO & CO NEW PERP PFD CNV A 22,716 2,611 12.99 18,899
THOMPSON CREEK METALS CO INC TG EQIT U TMED 10,855 10,855 New 665,968
KEYCORP NEW PFD 7.75% SR A 6,915 1,269 22.49 52,736
EASTMAN KODAK CO COM NEW 6,882 6,784 6,919.46 286,745
GENERAL MTRS CO WT EXP 123115 6,670 6,670 New 2,307,858
GENERAL MTRS CO WT EXP 071019 2,561 2,561 New 127,500
NUVEEN CR STRATEGIES INCM FD COM SHS 1,514 92 6.47 163,024
LIBERTY MEDIA CORP DELAWARE CL A 1,372 1,372 New 10,000
BLACKROCK DEBT STRAT FD INC COM 755 1 .12 186,921
CUMULUS MEDIA INC CL A 210 210 New 33,965
AMERICAN INTL GROUP INC COM NEW 55 55 New 1,000