Zuckerman Investment Group, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Zuckerman Investment Group, LLC reported 145 stock positions worth $866.0 million. Its top holding was Vertiv Class A (VRT) at 10.4% of the portfolio, followed by Ulta Beauty (ULTA, 4.4%) and McKesson (MCK, 3.7%). Compared with Q4 2023, it opened 24 new positions, sold out of 7, added to 75 and reduced 18. The biggest buy was Kenvue (KVUE, shares +70%) and the biggest sale an exit from Johnson Controls Internation (JCI).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001423296
Portfolio Value
$866.0M (Q1 2024)
SEC Filing
0001423296-24-000005 ↗ filed May 15, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $866.0M $866.0M Q1 2024 Q2 2024: $864.7M Q2 2024 Q3 2024: $971.6M Q3 2024 Q4 2024: $1.0B Q4 2024 Q1 2025: $931.3M Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.1B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 145 stocks · $866.0M
VRT Vertiv Holdings Co. Class A 10.41% 1,103,541 $90.1M Reduce -15.1%
ULTA Ulta Beauty Inc. 4.42% 73,200 $38.3M Add +2.9%
MCK McKesson Corp. 3.73% 60,219 $32.3M Add +1.6%
PNR Pentair PLC 3.64% 368,448 $31.5M Add +1.9%
DKS Dick's Sporting Goods Inc. 3.61% 139,084 $31.3M Reduce -24.0%
MSFT Microsoft Corp. 3.14% 64,720 $27.2M Add +2.1%
BRK.B Berkshire Hathaway Inc. Class B 3.05% 62,712 $26.4M Add +4.9%
GOOGL Alphabet Inc. Class A 2.73% 156,746 $23.7M Add +4.6%
PGR Progressive Corp. 2.73% 114,347 $23.6M Add +1.7%
AVTR Avantor Inc. 2.65% 896,710 $22.9M Add +2.7%
HSIC Henry Schein Inc. 2.42% 278,000 $21.0M Add +4.9%
CSW CSW Industrials Inc. 2.38% 87,836 $20.6M Add +2.1%
KKR KKR & Co. Inc. 2.35% 202,567 $20.4M Reduce -1.2%
KVUE Kenvue Inc. 2.26% 913,608 $19.6M Add +69.9%
BCO The Brink's Co. 2.22% 207,779 $19.2M Reduce -20.1%
META Meta Platforms Inc. Class A 2.20% 39,291 $19.1M Reduce -8.8%
PTLO Portillo's Inc. Class A 2.09% 1,278,159 $18.1M Add +26.4%
SHYF The Shyft Group Inc. 1.88% 1,310,034 $16.3M Add +17.3%
AAPL Apple Inc. 1.86% 94,007 $16.1M Add +3.7%
CSWC Capital Southwest Corp. 1.85% 643,120 $16.1M Add +4.9%
OIH Vaneck Oil Services ETF 1.82% 46,874 $15.8M Add +3.0%
AMZN Amazon.com Inc. 1.82% 87,230 $15.7M Add +1.4%
VDE Vanguard Energy ETF 1.81% 119,216 $15.7M Add +3.4%
YUMC Yum China Holdings Inc. 1.78% 387,008 $15.4M Add +36.6%
CDW CDW Corp. 1.76% 59,688 $15.3M Add +6.0%
AAP Advance Auto Parts Inc. 1.63% 166,005 $14.1M Add +2.8%
OPLN Openlane Inc. 1.61% 808,025 $14.0M Add +4.5%
ABBV Abbvie Inc. 1.60% 76,029 $13.8M Add +4.6%
BRK.A Berkshire Hathaway Inc. Class A 1.54% 21 $13.3M No change
VWO Vanguard Ftse Emerging Marke 1.45% 301,066 $12.6M Add +79.7%
VEA Vanguard Ftse Developed ETF 1.43% 247,041 $12.4M Add +33.5%
JPM JPMorgan Chase & Co. 1.40% 60,513 $12.1M Reduce -0.0%
VOO Vanguard S&P 500 ETF 1.21% 21,796 $10.5M Add +5.6%
SBUX Starbucks Corp. 1.16% 109,975 $10.1M Add +69.3%
MRK Merck & Co. Inc. 1.04% 68,122 $9.0M Add +1.2%
ABT Abbott Laboratories 0.95% 72,270 $8.2M Add +4.4%
UHAL.B U-Haul Holding Co.-Non Voting 0.85% 110,861 $7.4M Add +4.1%
XLF SS Financial Select Sector 0.85% 175,432 $7.4M Reduce -3.3%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.83% 28,871 $7.2M Add +10.9%
VTWO Vanguard Russell 2000 ETF 0.61% 61,754 $5.3M Add +12.3%
QQQ Invesco QQQ Trust Series 1 0.54% 10,597 $4.7M Add +9.9%
HLMN Hillman Solutions Corp. 0.54% 442,047 $4.7M Add +6.9%
IEMG iShares Core MSCI Emerging 0.53% 89,330 $4.6M Reduce -0.3%
IWF iShares Russell 1000 Growth 0.52% 13,381 $4.5M Add +4.1%
PLTR Palantir Technologies Inc. Class A 0.50% 187,302 $4.3M Add +296.0%
IUSV iShares Core S&P U.S. Value 0.45% 43,338 $3.9M Add +7.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.41% 29,300 $3.6M Add +26.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.26% 11,860 $2.3M Add +34.2%
PFE Pfizer Inc. 0.26% 81,075 $2.2M Add +89.1%
JNJ Johnson & Johnson 0.25% 13,699 $2.2M Add +9.5%
XLB SS Materials Select Sector 0.24% 22,540 $2.1M Add +2.8%
V Visa Inc. Class A 0.24% 7,484 $2.1M Add +22.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.24% 55,062 $2.1M Add +99.8%
TSLA Tesla Inc. 0.23% 11,320 $2.0M Add +12.9%
PEP Pepsico Inc. 0.23% 11,152 $2.0M Add +34.6%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.20% 20,000 $1.7M No change
VZ Verizon Communications Inc. 0.19% 39,955 $1.7M Add +3.3%
HD Home Depot Inc. 0.19% 4,253 $1.6M Add +4.2%
CBOE Cboe Global Markets Inc. 0.18% 8,415 $1.5M No change
ATR Aptargroup Inc. 0.17% 10,520 $1.5M No change
INTC Intel Corp. 0.16% 31,913 $1.4M Add +1.8%
CLF Cleveland-Cliffs Inc. 0.16% 60,000 $1.4M Add +66.7%
GOOG Alphabet Inc. Class C 0.14% 8,124 $1.2M Add +0.1%
MA Mastercard Inc. Class A 0.14% 2,531 $1.2M Add +4.1%
XLRE SS Real Estate Select Sector 0.14% 30,334 $1.2M Add +4.1%
VYM Vanguard High DVD Yield ETF 0.12% 8,677 $1.0M Add +7.8%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.12% 15,708 $1.0M Add +12.0%
C Citigroup Inc. 0.12% 16,000 $1.0M No change
ORCL Oracle Corp. 0.11% 7,877 $989K No change
TMO Thermo Fisher Scientific Inc. 0.11% 1,616 $939K Reduce -0.5%
ARCC Ares Capital Corp. 0.10% 43,000 $895K New
MOH Molina Healthcare Inc. 0.10% 2,130 $875K No change
MMM 3M Co. 0.10% 7,993 $848K Add +105.3%
CEG Constellation Energy 0.09% 4,417 $816K Reduce -2.8%
ARKK ARK Innovation ETF 0.09% 15,785 $791K No change
LLY Eli Lilly & Co. 0.09% 1,001 $779K Add +0.5%
NVO Novo-Nordisk A/S-Spons ADR 0.09% 5,930 $761K No change
WBD Warner Bros Discovery Inc. 0.09% 84,822 $740K Add +178.5%
J Jacobs Solutions Inc. 0.08% 4,730 $727K No change
BMY Bristol-Myers Squibb Co. 0.08% 13,140 $713K Reduce -9.8%
MSOS Advisorshares Pure US Cann 0.08% 68,094 $682K Add +57.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.07% 1,229 $643K No change
ETN Eaton Corp. PLC 0.07% 2,000 $625K No change
MNR Mach Natural Resources LP 0.07% 32,000 $618K New
UNH Unitedhealth Group Inc. 0.07% 1,235 $611K Add +12.2%
IVV iShares Core S&P 500 ETF 0.07% 1,119 $588K Add +2.1%
TEVA Teva Pharmaceutical-SP ADR 0.07% 41,406 $584K New
WFC Wells Fargo & Co. 0.07% 9,968 $578K New
UBER Uber Technologies Inc. 0.06% 7,210 $555K Reduce -0.3%
HYBB iShares BB Rated Corp. Bond 0.06% 11,747 $543K Add +3.3%
VCSH Vanguard S/T Corp. Bond ETF 0.06% 6,809 $526K Add +3.4%
BIV Vanguard Intermediate-Term B 0.06% 6,857 $517K Add +3.5%
SHYG iShares 0-5 YR HY Corp. Bond 0.06% 12,063 $513K Add +3.5%
XOM Exxon Mobil Corp. 0.06% 4,255 $495K Add +63.5%
CIEN Ciena Corp. 0.05% 9,500 $470K New
RTX RTX Corp. 0.05% 4,789 $467K Add +13.4%
BKR Baker Hughes Co. 0.05% 13,930 $467K Reduce -1.9%
CSQ Calamos Strat TTL RTRN FND 0.05% 28,000 $458K New
CSCO Cisco Systems Inc. 0.05% 8,869 $443K Add +1.8%
PARAA Paramount Global Class B 0.05% 37,514 $442K New

Show all 145 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $16.0M (not counted above)
SecurityClassShares / PrincipalValueChange
ALTERYX INC (AYX 0.5 08/01/24) NOTE 0.500% 8/0 · principal 16,143,000$16.0MAdd +1.2%
CXAIW Kins Tech Group Class A -CW25 *W EXP 99/99/999 69,000$11KNew

Total filed on the 13F, all lines: $882.0M.

Portfolio Sells Q4 2023 → Q1 2024
JCI Johnson Controls Internation Sold out 0.00% −2.21
CRI Carter's Inc. Sold out 0.00% −2.17
BCO The Brink's Co. Reduce -20.1% 2.22% −0.86
IEMG iShares Core MSCI Emerging Reduce -0.3% 0.53% −0.08
XBI SS SPDR S&P Biotech ETF Sold out 0.00% −0.07
XLF SS Financial Select Sector Reduce -3.3% 0.85% −0.06
BMY Bristol-Myers Squibb Co. Reduce -9.8% 0.08% −0.02
ADBE Adobe Inc. Reduce -5.3% 0.03% −0.01
BKR Baker Hughes Co. Reduce -1.9% 0.05% −0.01
PG The Procter & Gamble Co. Reduce -24.5% 0.03% −0.01
DKS Dick's Sporting Goods Inc. Reduce -24.0% 3.61% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -0.5% 0.11% −0.01
DE Deere & Co. Reduce -0.9% 0.05% −0.01
SLB SLB Ltd. Reduce -3.2% 0.05% −0.01
MTTR Matterport Inc. Sold out 0.00% −0.00
VTI VG Morningstar TS MKT ETF-US Reduce -3.2% 0.03% −0.00
ZFOX Zerofox Holdings Inc. Sold out 0.00% −0.00
SFES Safeguard Scientifics Inc. Sold out 0.00% −0.00
DARE Dare Bioscience Inc. Sold out 0.00% −0.00
UBER Uber Technologies Inc. Reduce -0.3% 0.06% +0.00
JPM JPMorgan Chase & Co. Reduce -0.0% 1.40% +0.01
CEG Constellation Energy Reduce -2.8% 0.09% +0.02
KKR KKR & Co. Inc. Reduce -1.2% 2.35% +0.07
META Meta Platforms Inc. Class A Reduce -8.8% 2.20% +0.15
VRT Vertiv Holdings Co. Class A Reduce -15.1% 10.41% +2.01

Portfolio Buys Q4 2023 → Q1 2024
KVUE Kenvue Inc. Add +69.9% 2.26% +0.71
VWO Vanguard Ftse Emerging Marke Add +79.7% 1.45% +0.53
PLTR Palantir Technologies Inc. Class A Add +296.0% 0.50% +0.39
SBUX Starbucks Corp. Add +69.3% 1.16% +0.32
PGR Progressive Corp. Add +1.7% 2.73% +0.32
AAP Advance Auto Parts Inc. Add +2.8% 1.63% +0.30
VEA Vanguard Ftse Developed ETF Add +33.5% 1.43% +0.24
BRK.B Berkshire Hathaway Inc. Class B Add +4.9% 3.05% +0.18
YUMC Yum China Holdings Inc. Add +36.6% 1.78% +0.16
DIS The Walt Disney Co. Add +26.1% 0.41% +0.13
BAC Bank of America Corp. Add +99.8% 0.24% +0.12
ARCC Ares Capital Corp. New 0.10% +0.10
PNR Pentair PLC Add +1.9% 3.64% +0.10
PFE Pfizer Inc. Add +89.1% 0.26% +0.09
ABBV Abbvie Inc. Add +4.6% 1.60% +0.08
OPLN Openlane Inc. Add +4.5% 1.61% +0.07
MNR Mach Natural Resources LP New 0.07% +0.07
TEVA Teva Pharmaceutical-SP ADR New 0.07% +0.07
IBM Intl Business Machines Corp. Add +34.2% 0.26% +0.07
WFC Wells Fargo & Co. New 0.07% +0.07
CLF Cleveland-Cliffs Inc. Add +66.7% 0.16% +0.06
AMZN Amazon.com Inc. Add +1.4% 1.82% +0.06
CIEN Ciena Corp. New 0.05% +0.05
CSQ Calamos Strat TTL RTRN FND New 0.05% +0.05
PARAA Paramount Global Class B New 0.05% +0.05
MRK Merck & Co. Inc. Add +1.2% 1.04% +0.05
MRNA Moderna Inc. New 0.05% +0.05
DEO Diageo PLC-Sponsored ADR New 0.04% +0.04
SHYF The Shyft Group Inc. Add +17.3% 1.88% +0.04
AI C3.AI Inc. Class A New 0.04% +0.04
MCK McKesson Corp. Add +1.6% 3.73% +0.04
MMM 3M Co. Add +105.3% 0.10% +0.04
CDW CDW Corp. Add +6.0% 1.76% +0.04
WBD Warner Bros Discovery Inc. Add +178.5% 0.09% +0.04
MSOS Advisorshares Pure US Cann Add +57.5% 0.08% +0.04
HALO Halozyme Therapeutics Inc. New 0.04% +0.04
PEP Pepsico Inc. Add +34.6% 0.23% +0.04
CHW Calamos Global Dynamic Incom New 0.03% +0.03
HLMN Hillman Solutions Corp. Add +6.9% 0.54% +0.03
VTRS Viatris Inc. New 0.03% +0.03
V Visa Inc. Class A Add +22.6% 0.24% +0.03
GSBD Goldman Sachs BDC Inc. New 0.03% +0.03
TSM Taiwan Semiconductor-SP ADR New 0.03% +0.03
XLE SS Energy Select Sector New 0.03% +0.03
HHH Howard Hughes Holdings Inc. New 0.02% +0.02
AVGO Broadcom Inc. New 0.02% +0.02
XOM Exxon Mobil Corp. Add +63.5% 0.06% +0.02
NVCR Novocure Ltd. New 0.02% +0.02
VMEO Vimeo Inc. New 0.02% +0.02
NVDA Nvidia Corp. Add +6.9% 0.05% +0.02

Notes & Other Activity Q4 2023 → Q1 2024
ALTERYX INC (AYX 0.5 08/01/24) NOTE 0.500% 8/0 · principal Add +1.2% 16,143,000 $16.0M
DOCUSIGN INC (DOCU 0 01/15/24) NOTE 1/1 · principal Sold out 14,828,000 $14.7Mbefore exit
GREENBRIER COS INC (GBX 2.875 02/01/24) NOTE 2.875% 2/0 · principal Sold out 965,000 $955Kbefore exit
CXAIW Kins Tech Group Class A -CW25 *W EXP 99/99/999 New 69,000 $11K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 137$1.2BVRT, GOOGL, ICLR, ULTA, KKR
Q1 2026 134$1.1BVRT, GOOGL, ULTA, MCK, CRM
Q4 2025 136$1.1BVRT, ULTA, GOOGL, MCK, MSFT
Q3 2025 156$1.1BVRT, ULTA, GOOGL, MCK, MSFT
Q2 2025 153$1.0BVRT, ULTA, MCK, MSFT, KKR
Q1 2025 162$931.3MVRT, ULTA, MCK, BRK.B, KVUE
Q4 2024 151$1.0BVRT, ULTA, MCK, GOOGL, KKR
Q3 2024 143$971.6MVRT, ULTA, PNR, CSW, MCK
Q2 2024 146$864.7MVRT, ULTA, MCK, DKS, MSFT
Q1 2024 145$866.0MVRT, ULTA, MCK, PNR, DKS