0001009012-11-000010.txt : 20110414 0001009012-11-000010.hdr.sgml : 20110414 20110414145607 ACCESSION NUMBER: 0001009012-11-000010 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110414 DATE AS OF CHANGE: 20110414 EFFECTIVENESS DATE: 20110414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZAZOVE ASSOCIATES LLC CENTRAL INDEX KEY: 0001009012 IRS NUMBER: 363984373 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05338 FILM NUMBER: 11759480 BUSINESS ADDRESS: STREET 1: 4801 WEST PETETSON SUITE 615 CITY: CHICAGO STATE: IL ZIP: 60646 BUSINESS PHONE: 3122838822 MAIL ADDRESS: STREET 1: 4801 WEST PETETSON SUITE 615 CITY: CHICAGO STATE: IL ZIP: 60646 13F-HR 1 qrtlyfiling13f033111.txt FORM 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 2049 FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 Check here is Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Zazove Associates, LLC Address: 1001 Tahoe Blvd. Incline Village, NV 89451 13F File Number: 28-5338 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Steven M. Kleiman Title: Chief Operating Officer Phone: (847) 239-7100 Signature, Place, and Date of Signing: Steven M. Kleiman Northbrook, Illinois April 14, 2011 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. Form 13 F Summary Page Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 157 Form 13F Information Table Value Total: $4,140,632 List of Other Included Managers: None VALUE SHARES OR SH/ Put/ INVSTMT OTHER Voting Authority NAME OF ISSUER TITLE OF CLASS CUSIP (1000s) PRN AMT PRN CALL DISCRTN Mgrs a) Sole b) Shared c) None Aspen Insurance Hldg PFD PRP INC EQ G05384113 18,358 337,620 Sole 337,620 Bank of America 7.25%CNV PFD L 060505682 3,301 3,265 Sole 3,265 Emmis Comm Corp PFD CV SER A 291525202 3,514 219,483 Sole 219,483 Fifth Third Bancorp CNV PFD DEP1/250 316773209 87,117 590,871 Sole 590,871 New York Com Bancorp UNIT 99/99/9999 64944P307 8,885 175,935 Sole 175,935 Stanley Black & Decker UNIT 99/99/9999 854502309 97,775 810,204 Sole 810,204 Wells Fargo & Company PERP PFD CNV A 949746804 19,255 18,600 Sole 18,600 Durect Corporation COM 266605104 3,663 1,017,386 Sole 1,017,386 FiberTower Corp COM NEW 31567R209 4,588 2,282,658 Sole 2,282,658 Fly Leasing SPONSORED ADR 34407D109 306 22,097 Sole 22,097 Hologic Inc COM 436440101 1,084 48,850 Sole 48,850 MGIC Investment Corp COM 552848103 992 111,600 Sole 111,600 Molson Coors Brewing Co CL B 60871R209 455 9,700 Sole 3,744 ProShares UltraShort PSHS ULTSH 20YR 74347R297 3,744 100,000 Sole 100,000 Radio One, Inc CL D NON VTG 75040P405 1,950 1,000,000 Sole 1,000,000 Teva Pharm ADR 881624209 7,776 154,999 Sole 154,999 VelocityShares Daily VIX SHT TRM FT 22542D761 726 20,000 Sole 20,000 General Motors Corp JR PFD CNV SRB 37045V209 8,107 168,200 Sole 168,200 Molycorp, Inc. PFD CONV SER A 608753208 4,440 39,230 Sole 39,230 Raytheon Company *W EXP 06/16/201 755111119 680 52,500 Sole 52,500 Ford Motor Co *W EXP 01/01/201 345370134 13,604 2,132,250 Sole 2,132,250 Iridium Communic Inc *W EXP 02/14/201 46269C110 757 316,900 Sole 316,900 Owens Corning *W EXP 10/31/201 690742127 104 29,434 Sole 29,434 Iridium Communications *W EXP 02/14/201 46269C128 265 189,200 Sole 189,200 JP Morgan Chase & Co. *W EXP 10/28/201 46634E114 3,769 224,639 Sole 224,639 Wells Fargo & Company *W EXP 10/28/201 949746119 1,130 100,000 Sole 100,000 Bank of America *W EXP 01/16/201 060505146 797 103,900 Sole 103,900 Zions Bancorporation *W EXP 05/22/202 989701115 702 100,000 Sole 100,000 AAR Corp NOTE 1.750% 2/0 000361AH8 4,408 3,948,000 Sole AGCO Corp NOTE 1.250%12/1 001084AM4 1,408 950,000 Sole AMR Corporation NOTE 6.250%10/1 001765BC9 19,228 18,595,000 Sole Advanced Micro Devices NOTE 6.000% 5/0 007903AL1 913 882,000 Sole Affiliated Managers Gr NOTE 3.950% 8/1 008252AL2 35,303 29,805,000 Sole Alcoa Inc NOTE 5.250% 3/1 013817AT8 4,792 1,700,000 Sole Allergan, Inc NOTE 1.500% 4/0 018490AL6 76,782 68,470,000 Sole Alliance Data Systems NOTE 1.750% 8/0 018581AD0 104,490 86,620,000 Sole Alliant Techsystems NOTE 3.000% 8/1 018804AK0 23,481 21,000,000 Sole Alliant Techsystems NOTE 2.750% 9/1 018804AN4 938 931,000 Sole Johnson & Johnson SDCV 7/2 02261WAB5 139,645 163,327,000 Sole American Med Sys Hldgs NOTE 4.000% 9/1 02744MAB4 1,503 1,122,000 Sole Amylin Pharmaceuticals NOTE 3.000% 6/1 032346AF5 1,358 1,570,000 Sole Annaly Mortgage Mngmt NOTE 4.000% 2/1 035710AA0 2,847 2,500,000 Sole Arcelormittal NOTE 5.000% 5/1 03938LAK0 114,505 78,630,000 Sole Best Buy Co. SDCV 2.250% 1/1 086516AF8 307 300,000 Sole BlackRock, Inc DBCV 2.625% 2/1 09247XAB7 2,059 1,000,000 Sole Borgwarner Inc NOTE 3.500% 4/1 099724AF3 3,054 1,250,000 Sole CapitalSource Inc SDCV 4.000% 7/1 14055XAE2 4,270 4,250,000 Sole CapitalSource Inc NOTE 7.250% 7/1 14055XAG7 22,486 21,673,000 Sole Central European Dist. NOTE 3.000% 3/1 153435AA0 9,187 10,590,000 Sole Cephalon Inc NOTE 2.000% 6/0 156708AP4 3,336 2,000,000 Sole Cephalon Inc NOTE 2.500% 5/0 156708AR0 98,697 82,162,000 Sole Charles River Labs NOTE 2.250% 6/1 159864AB3 2,332 2,232,000 Sole Chemed Corporation NOTE 1.875% 5/1 16359RAC7 28,759 27,587,000 Sole Cheniere Energy NOTE 2.250% 8/0 16411RAE9 7,172 8,800,000 Sole Chesapeake Energy Corp NOTE 2.500% 5/1 165167CA3 55,750 51,531,000 Sole China Medical Techn Inc NOTE 4.000% 8/1 169483AC8 19,090 21,300,000 Sole China Medical Techn Inc NOTE 6.250%12/1 169483AE4 10,675 10,000,000 Sole Danaher Corporation NOTE 1/2 235851AF9 78,996 52,350,000 Sole Delta Petroleum Corp NOTE 3.750% 5/0 247907AD0 9,583 10,767,000 Sole Dominion Resources Inc NOTE 2.125%12/1 25746UAT6 110,639 86,946,000 Sole DryShips Inc NOTE 5.000%12/0 262498AB4 14,424 14,415,000 Sole EMC Corp NOTE 1.750%12/0 268648AK8 3,310 2,000,000 Sole EMC Corp NOTE 1.750%12/0 268648AM4 57,851 33,930,000 Sole Equity Residential Prop NOTE 3.850% 8/1 26884AAV5 2,075 2,000,000 Sole Eastman Kodak NOTE 7.000% 4/0 277461BJ7 27,753 31,250,000 Sole Endeavor Intl Corp NOTE 6.000% 1/1 29257MAB6 30,460 30,383,000 Sole Endo Pharma Holding Inc NOTE 1.750% 4/1 29264FAB2 2,812 2,000,000 Sole Energy Conversion Dev NOTE 3.000% 6/1 292659AA7 11,539 18,500,000 Sole EnPro Industries, Inc DBCV 3.938%10/1 29355XAB3 54,754 43,113,000 Sole Epicor Software Corp NOTE 2.375% 5/1 29426LAA6 423 410,000 Sole Excel Maritime Carriers NOTE 1.875% 10/15 300668AA8 17,966 23,796,000 Sole Exide Technologies FRNT 9/1 302051AL1 1,716 1,830,000 Sole Exterran Holdings Inc NOTE 4.250% 6/1 30225XAA1 81,685 66,075,000 Sole Thermo Fisher Scient NOTE 3.250% 3/0 338032AX3 101,236 73,468,000 Sole Genco Shipping & Trad NOTE 5.000% 8/1 36869MAA3 21,350 22,764,000 Sole Gilead Sciences, Inc. NOTE 0.625% 5/0 375558AH6 154,278 126,457,000 Sole GMX Resources Inc NOTE 5.000% 2/0 38011MAB4 9,649 10,211,000 Sole GMX Resources Inc NOTE 4.500% 5/0 38011MAJ7 8,882 10,898,000 Sole Goldcorp, Inc NOTE 2.000% 8/0 380956AB8 113,984 89,487,000 Sole Wilson Greatbatch Tech SDCV 2.250% 6/1 39153LAB2 2,016 2,000,000 Sole Greenbrier Companies NOTE 2.375% 5/1 393657AD3 4,124 4,208,000 Sole Headwaters Incorporated NOTE 2.500% 2/0 42210PAD4 18,518 20,575,000 Sole Hertz Global Holdings NOTE 5.250% 6/0 42805TAA3 4,535 2,250,000 Sole Horizon Lines Inc NOTE 4.250% 8/1 44044KAB7 18,871 24,350,000 Sole Hutchinson Technology NOTE 3.250% 1/1 448407AF3 13,730 17,491,000 Sole Hutchinson Technology NOTE 8.500% 1/1 448407AG1 4,019 4,478,000 Sole iStar Financial FRNT 10/0 45031UBF7 12,244 13,400,000 Sole Illumina Inc NOTE 0.625% 2/1 452327AB5 5,029 1,570,000 Sole International Game Tech NOTE 3.250% 5/0 459902AQ5 170,910 147,974,000 Sole Interpublic Group NOTE 4.750% 3/1 460690BE9 64,110 50,655,000 Sole Life Technologies NOTE 1.500% 2/1 46185RAK6 154,601 132,990,000 Sole Life Technologies NOTE 3.250% 6/1 46185RAM2 2,783 2,502,000 Sole Janus Capital Group Inc NOTE 3.250% 7/1 47102XAG0 49,265 40,926,000 Sole Jefferies Group, Inc DBCV 3.875%11/0 472319AG7 33,897 32,515,000 Sole K-V Pharmaceutical NOTE 2.500% 5/1 482740AC1 3,988 5,300,000 Sole KEMET Corp NOTE 2.250%11/1 488360AB4 6,130 6,161,000 Sole Level 3 Communications NOTE 3.500% 6/1 52729NBK5 4,394 4,438,000 Sole Level 3 Communications NOTE 7.000% 3/1 52729NBP4 51,245 42,950,000 Sole Level 3 Communications NOTE 6.500%10/0 52729NBR0 13,119 8,928,000 Sole Liberty Media DEB 3.500% 1/1 530715AN1 770 1,355,000 Sole Liberty Media DEB 3.250% 3/1 530715AR2 134,505 163,781,000 Sole Liberty Media DEB 3.125% 3/3 530718AF2 95,666 80,392,000 Sole LifePoint Hospitals NOTE 3.500% 5/1 53219LAH2 2,387 2,229,000 Sole Live Nation Inc NOTE 2.875% 7/1 538034AB5 2,266 2,450,000 Sole McMoRan Exploration NOTE 5.250%10/0 582411AE4 356 304,000 Sole Medicis Pharmaceuticals NOTE 2.500% 6/0 58470KAA2 20,864 18,024,000 Sole Medtronic, Inc NOTE 1.625% 4/1 585055AM8 20,374 19,745,000 Sole Molson Coors Brewing Co NOTE 2.500% 7/3 60871RAA8 89,136 76,512,000 Sole Morgans Hotel Group NOTE 2.375%10/1 61748WAB4 12,868 14,623,000 Sole Mylan, Inc NOTE 3.750% 9/1 628530AJ6 3,680 2,000,000 Sole Nash Finch Company FRNT 3.500% 3/1 631158AD4 2,599 5,250,000 Sole National Retail Prop NOTE 3.950% 9/1 637417AA4 2,246 2,000,000 Sole Navistar Intl NOTE 3.000%10/1 63934EAL2 8,673 5,710,000 Sole NetApp, Inc NOTE 1.750% 6/0 64110DAB0 2,160 1,364,000 Sole Newmont Mining Corp NOTE 1.250% 7/1 651639AH9 124,399 93,886,000 Sole Newmont Mining Corp NOTE 1.625% 7/1 651639AJ5 217 160,000 Sole Newpark Resources, Inc. NOTE 4.000%10/0 651718AC2 11,090 10,600,000 Sole Northgate Minerals Corp NOTE 3.500%10/0 666416AB8 19,287 19,370,000 Sole Old Republic Intl Corp NOTE 8.000% 5/1 680223AF1 32,962 27,298,000 Sole Omnicom Group NOTE 7/0 682134AA9 110,966 98,707,000 Sole Onyx Pharmaceuticals NOTE 4.000% 8/1 683399AB5 796 680,000 Sole PHH Corporation NOTE 4.000% 9/0 693320AN3 13,061 11,697,000 Sole PMI Group, Inc NOTE 4.500% 4/1 69344MAK7 1,817 2,360,000 Sole Pixelworks SDCV 1.750% 5/1 72581MAB3 5,587 5,580,000 Sole Powerwave Technologies NOTE 3.875%10/0 739363AF6 16,443 16,995,000 Sole ProLogis NOTE 2.250% 4/0 743410AQ5 3,040 3,040,000 Sole ProLogis NOTE 3.250% 3/1 743410AY8 29,261 24,850,000 Sole Providence Service Corp NOTE 6.500% 5/1 743815AB8 12,900 12,900,000 Sole Rayonier Inc NOTE 3.750%10/1 75508AAB2 47,978 39,651,000 Sole Rentech, Inc NOTE 4.000% 4/1 760112AA0 5,672 6,140,000 Sole Rite Aid Corp NOTE 8.500% 5/1 767754BU7 23,934 23,407,000 Sole SBA Communications Corp NOTE 4.000%10/0 78388JAM8 2,934 2,000,000 Sole SBA Communications Corp NOTE 1.875% 5/0 78388JAN6 15,408 13,500,000 Sole Safeguard Scientifics DBCV 10.125% 3/1 786449AH1 10,102 6,560,000 Sole Savient Pharmaceuticals NOTE 4.750% 2/0 80517QAA8 2,021 1,700,000 Sole School Specialty, Inc SDCV 3.750%11/3 807863AL9 3,283 3,250,000 Sole School Specialty, Inc SDCV 3.750%11/3 807863AM7 10,959 10,500,000 Sole Sirius XM Radio Inc NOTE 3.250%10/1 82966UAD5 3,738 3,710,000 Sole Sotheby's NOTE 3.125% 6/1 835898AC1 1,887 1,150,000 Sole Stanley Black & Decker FRNT 5/1 854616AM1 64,680 51,900,000 Sole Steel Dynamics, Inc NOTE 5.125% 6/1 858119AP5 15,913 12,408,000 Sole Sterlite Industries Ltd NOTE 4.000%10/3 859737AB4 80,695 78,665,000 Sole Stewart Enterprises NOTE 3.375% 7/1 860370AK1 5,256 5,233,000 Sole Symantec Corporation NOTE 1.000% 6/1 871503AF5 74,354 61,475,000 Sole Take-Two Intractv Soft NOTE 4.375% 6/0 874054AA7 3,191 2,000,000 Sole Teleflex Incorporated NOTE 3.875% 8/0 879369AA4 17,212 15,240,000 Sole Teva Pharm DBCV 0.250% 2/0 88163VAE9 116,767 101,864,000 Sole 3M Co NOTE 11/2 88579YAB7 137,867 143,986,000 Sole Time Warner Telecom Inc DBCV 2.375% 4/0 887319AC5 2,472 2,080,000 Sole Transocean Inc NOTE 1.500%12/1 893830AV1 1,117 1,120,000 Sole Transocean Inc NOTE 1.500%12/1 893830AW9 3,278 3,335,000 Sole Tyson Foods, Inc NOTE 3.250%10/1 902494AP8 32,131 24,610,000 Sole USEC Inc NOTE 3.000%10/0 90333EAC2 5,184 6,500,000 Sole United Rentals Inc NOTE 4.000%11/1 911363AL3 6,191 2,000,000 Sole United States Steel NOTE 4.000% 5/1 912909AE8 2,280 1,250,000 Sole Virgin Media Inc NOTE 6.500%11/1 92769LAB7 8,994 5,310,000 Sole Xilinx, Inc SDCV 3.125% 3/1 983919AD3 5,245 4,495,000 Sole 4,140,632