Zuckerman Investment Group, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Zuckerman Investment Group, LLC reported 151 stock positions worth $1.0 billion. Its top holding was Vertiv Class A (VRT) at 7.6% of the portfolio, followed by Ulta Beauty (ULTA, 4.3%) and McKesson (MCK, 3.6%). Compared with Q3 2024, it opened 16 new positions, sold out of 8, added to 56 and reduced 57. The biggest buy was a new position in Icon (ICLR) and the biggest sale Henry Schein (HSIC, shares −68%).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001423296
Portfolio Value
$1.0B (Q4 2024)
SEC Filing
0001423296-25-000001 ↗ filed Feb 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $866.0M Q1 2024 Q2 2024: $864.7M Q2 2024 Q3 2024: $971.6M Q3 2024 Q4 2024: $1.0B $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 151 stocks · $1.0B
VRT Vertiv Holdings Co. Class A 7.60% 702,450 $79.1M Reduce -14.3%
ULTA Ulta Beauty Inc. 4.32% 110,211 $45.0M Add +10.8%
MCK McKesson Corp. 3.55% 61,567 $36.9M Add +2.0%
GOOGL Alphabet Inc. Class A 3.22% 166,319 $33.5M Add +7.8%
KKR KKR & Co. Inc. 3.10% 197,305 $32.2M Reduce -2.6%
PNR Pentair PLC 3.04% 307,978 $31.6M Reduce -14.3%
BRK.B Berkshire Hathaway Inc. Class B 2.83% 63,435 $29.5M Add +1.1%
DKS Dick's Sporting Goods Inc. 2.82% 123,764 $29.4M Reduce -8.8%
META Meta Platforms Inc. Class A 2.64% 39,308 $27.4M Reduce -0.3%
MSFT Microsoft Corp. 2.58% 65,418 $26.9M Add +0.7%
PTLO Portillo's Inc. Class A 2.57% 1,944,983 $26.7M Add +6.9%
CSW CSW Industrials Inc. 2.51% 81,139 $26.2M Reduce -7.8%
PGR Progressive Corp. 2.33% 97,378 $24.2M Reduce -13.4%
AVTR Avantor Inc. 2.33% 1,105,832 $24.2M Add +18.2%
GPGI Gpgi Inc. filed as COMPOSECURE INC 2.32% 1,525,207 $24.1M Add +85.0%
KVUE Kenvue Inc. 2.29% 1,122,061 $23.8M Add +18.7%
VWO Vanguard Ftse Emerging Marke 2.15% 505,765 $22.3M Add +57.9%
AAPL Apple Inc. 2.10% 95,918 $21.9M Reduce -0.5%
YUMC Yum China Holdings Inc. 2.02% 467,701 $21.0M Add +0.8%
AMZN Amazon.com Inc. 2.01% 88,167 $20.9M Reduce -0.3%
OPLN Openlane Inc. 1.95% 1,014,677 $20.3M Add +0.1%
CHWY Chewy Inc. Class A 1.95% 532,114 $20.3M Reduce -1.9%
VEA Vanguard Ftse Developed ETF 1.87% 394,983 $19.5M Add +46.9%
ICLR Icon PLC 1.73% 92,140 $18.0M New
JPM JPMorgan Chase & Co. 1.57% 61,301 $16.4M Add +1.2%
BRK.A Berkshire Hathaway Inc. Class A 1.54% 23 $16.0M Add +9.5%
VDE Vanguard Energy ETF 1.46% 122,547 $15.2M Add +1.9%
CSWC Capital Southwest Corp. 1.44% 672,468 $15.0M Add +4.8%
SHYF The Shyft Group Inc. 1.42% 1,294,886 $14.8M Add +1.4%
ABBV Abbvie Inc. 1.40% 76,390 $14.5M Reduce -0.2%
VOO Vanguard S&P 500 ETF 1.32% 24,945 $13.7M Add +4.2%
OIH Vaneck Oil Services ETF 1.28% 48,072 $13.3M Add +1.9%
PLTR Palantir Technologies Inc. Class A 1.24% 153,662 $12.9M Reduce -11.5%
SBUX Starbucks Corp. 1.19% 114,070 $12.3M Add +0.5%
HLMN Hillman Solutions Corp. 1.07% 1,149,110 $11.2M Add +41.4%
BCO The Brink's Co. 1.06% 119,696 $11.0M Reduce -24.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.92% 34,795 $9.6M Add +5.3%
HSIC Henry Schein Inc. 0.91% 118,860 $9.5M Reduce -68.2%
ABT Abbott Laboratories 0.90% 72,911 $9.4M Reduce -0.0%
XLF SS Financial Select Sector 0.88% 178,850 $9.2M Add +0.9%
AAP Advance Auto Parts Inc. 0.87% 187,441 $9.0M Reduce -32.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.84% 76,505 $8.7M Add +2.5%
UHAL.B U-Haul Holding Co.-Non Voting 0.69% 114,587 $7.2M Add +1.2%
MRK Merck & Co. Inc. 0.68% 71,128 $7.1M Add +4.1%
VTWO Vanguard Russell 2000 ETF 0.68% 77,818 $7.0M Add +7.5%
SITE Siteone Landscape Supply Inc. 0.67% 51,265 $7.0M New
IWF iShares Russell 1000 Growth 0.63% 16,087 $6.5M Add +3.9%
IUSV iShares Core S&P U.S. Value 0.55% 59,930 $5.7M Add +10.1%
QQQ Invesco QQQ Trust Series 1 0.53% 10,549 $5.5M Reduce -0.3%
TSLA Tesla Inc. 0.44% 11,922 $4.6M Add +4.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.27% 10,760 $2.8M Reduce -8.6%
V Visa Inc. Class A 0.26% 7,749 $2.7M Add +5.3%
BMY Bristol-Myers Squibb Co. 0.24% 42,202 $2.5M Reduce -17.8%
PEP Pepsico Inc. 0.24% 16,282 $2.4M Add +17.8%
CDW CDW Corp. 0.23% 11,927 $2.4M Reduce -80.2%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.23% 20,000 $2.4M Reduce -0.0%
IEMG iShares Core MSCI Emerging 0.23% 44,678 $2.4M Reduce -49.0%
JNJ Johnson & Johnson 0.23% 15,477 $2.4M Reduce -3.5%
ARCC Ares Capital Corp. 0.21% 92,000 $2.2M Add +114.0%
HD Home Depot Inc. 0.20% 5,183 $2.1M Add +8.2%
XLB SS Materials Select Sector 0.19% 22,568 $2.0M Add +1.6%
VZ Verizon Communications Inc. 0.18% 46,779 $1.9M Add +4.2%
MNR Mach Natural Resources LP 0.18% 105,000 $1.8M Add +34.6%
CBOE Cboe Global Markets Inc. 0.17% 8,415 $1.8M No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.17% 22,057 $1.7M Add +12.1%
ATR Aptargroup Inc. 0.16% 10,520 $1.6M No change
GOOG Alphabet Inc. Class C 0.16% 8,094 $1.6M No change
MA Mastercard Inc. Class A 0.16% 2,883 $1.6M Add +10.5%
PFE Pfizer Inc. 0.14% 56,912 $1.5M Reduce -3.7%
XLRE SS Real Estate Select Sector 0.14% 35,356 $1.5M Add +9.4%
UNH Unitedhealth Group Inc. 0.14% 2,601 $1.4M Add +22.9%
CEG Constellation Energy 0.13% 4,417 $1.4M Reduce -0.2%
ORCL Oracle Corp. 0.13% 7,919 $1.3M Reduce -0.3%
C Citigroup Inc. 0.12% 16,000 $1.3M Reduce -2.8%
VYM Vanguard High DVD Yield ETF 0.12% 9,265 $1.2M No change
GSBD Goldman Sachs BDC Inc. 0.11% 90,000 $1.2M Add +500.0%
CLF Cleveland-Cliffs Inc. 0.10% 105,000 $1.0M Reduce -7.9%
TMO Thermo Fisher Scientific Inc. 0.09% 1,616 $960K Reduce -0.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.08% 1,437 $859K Reduce -16.1%
UPS United Parcel Service Class B 0.08% 7,638 $850K New
DVN Devon Energy Corp. 0.08% 24,000 $810K Reduce -4.0%
LLY Eli Lilly & Co. 0.08% 976 $791K Reduce -1.1%
PATH Uipath Inc. Class A 0.08% 55,000 $782K No change
WFC Wells Fargo & Co. 0.07% 9,968 $779K Reduce -4.0%
NVDA Nvidia Corp. 0.07% 6,534 $762K Add +29.2%
ARKK ARK Innovation ETF 0.07% 12,250 $757K Reduce -22.4%
MSDL Morgan Stanley Direct Lendin 0.07% 36,000 $756K New
VMEO Vimeo Inc. 0.07% 109,050 $724K Add +12.9%
HYBB iShares BB Rated Corp. Bond 0.07% 15,205 $705K Add +6.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.07% 15,060 $696K Reduce -2.6%
VCSH Vanguard S/T Corp. Bond ETF 0.07% 8,879 $694K Add +5.7%
SHYG iShares 0-5 YR HY Corp. Bond 0.07% 16,148 $692K Add +8.7%
IVV iShares Core S&P 500 ETF 0.06% 1,124 $675K Add +1.8%
BIV Vanguard Intermediate-Term B 0.06% 9,003 $675K Add +6.3%
BWAY Brainsway Ltd.-ADR 0.06% 67,000 $667K Add +346.4%
BKR Baker Hughes Co. 0.06% 13,930 $660K No change
J Jacobs Solutions Inc. 0.06% 4,730 $656K No change
TEVA Teva Pharmaceutical-SP ADR 0.06% 36,406 $632K Add +15.9%
ETN Eaton Corp. PLC 0.06% 2,001 $631K Reduce -0.5%
TYL Tyler Technologies Inc. 0.06% 1,000 $603K No change
HPE Hewlett Packard Enterprise 0.06% 28,000 $573K Add +27.3%
IBIT iShares Bitcoin Trust ETF 0.05% 9,514 $548K Add +58.6%
MMM 3M Co. 0.05% 3,603 $541K Reduce -7.5%
CSCO Cisco Systems Inc. 0.05% 8,759 $535K Reduce -0.8%
AMGN Amgen Inc. 0.05% 1,803 $521K New
NMRK Newmark Group Inc. Class A 0.05% 36,250 $500K Reduce -2.1%
NVO Novo-Nordisk A/S-Spons ADR 0.05% 5,952 $492K Add +0.1%
RTX RTX Corp. 0.05% 3,757 $488K Reduce -27.0%
MSOS Advisorshares Pure US Cann 0.05% 142,234 $484K Add +96.9%
ETHE Grayscale Ethereum Staking E 0.04% 20,000 $453K New
UBER Uber Technologies Inc. 0.04% 6,642 $447K Reduce -4.7%
DE Deere & Co. 0.04% 935 $437K Reduce -1.1%
MOH Molina Healthcare Inc. 0.04% 1,320 $429K Reduce -38.0%
XOM Exxon Mobil Corp. 0.04% 3,962 $424K Reduce -7.6%
HPQ HP Inc. 0.04% 12,400 $397K No change
GS Goldman Sachs Group Inc. 0.03% 571 $361K No change
KBDC Kayne Anderson BDC Inc. 0.03% 20,000 $345K New
HALO Halozyme Therapeutics Inc. 0.03% 6,000 $338K No change
AVGO Broadcom Inc. 0.03% 1,545 $336K Reduce -3.4%
CLOV Clover Health Investments Co. 0.03% 78,000 $336K No change
OSCR Oscar Health Inc. Class A 0.03% 20,000 $335K New
TSM Taiwan Semiconductor-SP ADR 0.03% 1,650 $330K Reduce -2.1%
ZBRA Zebra Technologies Corp. Class A 0.03% 850 $328K No change
AI C3.AI Inc. Class A 0.03% 10,300 $321K Reduce -22.6%
IJH iShares Core S&P Midcap ETF 0.03% 4,735 $303K No change
DEO Diageo PLC-Sponsored ADR 0.03% 2,555 $299K Reduce -1.5%
KO The Coca-Cola Co. 0.03% 4,638 $294K Reduce -4.0%
ESRT Empire State Realty Trust-A 0.03% 30,000 $285K No change
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.03% 5,000 $283K New
CHW Calamos Global Dynamic Incom 0.03% 41,074 $281K No change
IWM iShares Russell 2000 ETF 0.03% 1,245 $279K No change
HWC Hancock Whitney Corp. 0.03% 4,586 $270K No change
DKL Delek Logistics Partners LP 0.03% 6,000 $263K New
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.03% 6,541 $263K Reduce -2.9%
CSX CSX Corp. 0.02% 7,731 $251K New
RXRX Recursion Pharmaceuticals-A 0.02% 34,000 $247K Reduce -15.0%
ACN Accenture PLC Class A 0.02% 612 $236K No change
GERN Geron Corp. 0.02% 80,000 $228K New
ARKG ARK Genomic Revolution ETF 0.02% 8,000 $213K New
TLS Telos Corporation 0.02% 72,500 $212K Reduce -14.2%
ADBE Adobe Inc. 0.02% 483 $212K Reduce -0.6%
CME Cme Group Inc. 0.02% 874 $210K Reduce -52.9%
COST Costco Wholesale Corp. 0.02% 206 $207K New
CTRA Coterra Energy Inc. 0.02% 7,370 $207K Reduce -30.0%
MPC Marathon Petroleum Corp. 0.02% 1,400 $206K Reduce -0.1%
RSI Rush Street Interactive Inc. 0.02% 14,250 $206K No change
NTR Nutrien Ltd. 0.02% 3,940 $201K New
AMST Amesite Inc. 0.02% 50,000 $173K Reduce -16.7%
FDMT 4D Molecular Therapeutics Inc. 0.01% 20,000 $119K New
CXAPP INC 0.01% 45,000 $67K No change
QVCG QVC Group Inc. filed as QURATE RETAIL INC 0.00% 10,080 $4K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.5M (not counted above)
SecurityClassShares / PrincipalValueChange
BLOCK INC (XYZ 0.25 11/01/27) NOTE 0.250%11/0 · principal 1,582,000$1.4MNo change
CXAIW Kins Tech Group Class A -CW25 *W EXP 99/99/999 651,800$98KAdd +27.8%

Total filed on the 13F, all lines: $1.0B.

Portfolio Sells Q3 2024 → Q4 2024
HSIC Henry Schein Inc. Reduce -68.2% 0.91% −1.90
CDW CDW Corp. Reduce -80.2% 0.23% −1.17
BCO The Brink's Co. Reduce -24.2% 1.06% −0.82
CSW CSW Industrials Inc. Reduce -7.8% 2.51% −0.81
VRT Vertiv Holdings Co. Class A Reduce -14.3% 7.60% −0.79
PGR Progressive Corp. Reduce -13.4% 2.33% −0.61
PNR Pentair PLC Reduce -14.3% 3.04% −0.58
IEMG iShares Core MSCI Emerging Reduce -49.0% 0.23% −0.29
AAP Advance Auto Parts Inc. Reduce -32.1% 0.87% −0.24
AAPL Apple Inc. Reduce -0.5% 2.10% −0.21
ABBV Abbvie Inc. Reduce -0.2% 1.40% −0.16
DKS Dick's Sporting Goods Inc. Reduce -8.8% 2.82% −0.09
INTC Intel Corp. Sold out 0.00% −0.07
CIEN Ciena Corp. Sold out 0.00% −0.07
CLF Cleveland-Cliffs Inc. Reduce -7.9% 0.10% −0.05
JNJ Johnson & Johnson Reduce -3.5% 0.23% −0.04
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.04
MOH Molina Healthcare Inc. Reduce -38.0% 0.04% −0.03
PFE Pfizer Inc. Reduce -3.7% 0.14% −0.03
BMY Bristol-Myers Squibb Co. Reduce -17.8% 0.24% −0.03
DVN Devon Energy Corp. Reduce -4.0% 0.08% −0.02
PG The Procter & Gamble Co. Sold out 0.00% −0.02
CME Cme Group Inc. Reduce -52.9% 0.02% −0.02
CARR Carrier Global Corp. Sold out 0.00% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Reduce -16.1% 0.08% −0.02
VTRS Viatris Inc. Sold out 0.00% −0.02
RTX RTX Corp. Reduce -27.0% 0.05% −0.02
LLY Eli Lilly & Co. Reduce -1.1% 0.08% −0.01
NAT Nordic American Tankers Ltd. Sold out 0.00% −0.01
NMRK Newmark Group Inc. Class A Reduce -2.1% 0.05% −0.01
ORCL Oracle Corp. Reduce -0.3% 0.13% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -0.4% 0.09% −0.01
XOM Exxon Mobil Corp. Reduce -7.6% 0.04% −0.01
UBER Uber Technologies Inc. Reduce -4.7% 0.04% −0.01
TLS Telos Corporation Reduce -14.2% 0.02% −0.01
PHK PIMCO High Income Fund Sold out 0.00% −0.01
DEO Diageo PLC-Sponsored ADR Reduce -1.5% 0.03% −0.01
ETN Eaton Corp. PLC Reduce -0.5% 0.06% −0.01
KO The Coca-Cola Co. Reduce -4.0% 0.03% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -0.3% 0.53% −0.01
CTRA Coterra Energy Inc. Reduce -30.0% 0.02% −0.01
ADBE Adobe Inc. Reduce -0.6% 0.02% −0.01
ARKK ARK Innovation ETF Reduce -22.4% 0.07% −0.00
SLB SLB Ltd. Reduce -2.9% 0.03% −0.00
MPC Marathon Petroleum Corp. Reduce -0.1% 0.02% −0.00
RXRX Recursion Pharmaceuticals-A Reduce -15.0% 0.02% −0.00
MMM 3M Co. Reduce -7.5% 0.05% −0.00
AI C3.AI Inc. Class A Reduce -22.6% 0.03% −0.00
TTD Trade Desk Inc./the Class A Reduce -0.0% 0.23% +0.00
DE Deere & Co. Reduce -1.1% 0.04% +0.00

Portfolio Buys Q3 2024 → Q4 2024
ICLR Icon PLC New 1.73% +1.73
GPGI Gpgi Inc. Add +85.0% 2.32% +1.13
SITE Siteone Landscape Supply Inc. New 0.67% +0.67
GOOGL Alphabet Inc. Class A Add +7.8% 3.22% +0.58
VWO Vanguard Ftse Emerging Marke Add +57.9% 2.15% +0.57
MCK McKesson Corp. Add +2.0% 3.55% +0.48
VEA Vanguard Ftse Developed ETF Add +46.9% 1.87% +0.41
ULTA Ulta Beauty Inc. Add +10.8% 4.32% +0.34
JPM JPMorgan Chase & Co. Add +1.2% 1.57% +0.26
OPLN Openlane Inc. Add +0.1% 1.95% +0.19
HLMN Hillman Solutions Corp. Add +41.4% 1.07% +0.19
TSLA Tesla Inc. Add +4.7% 0.44% +0.13
ARCC Ares Capital Corp. Add +114.0% 0.21% +0.12
DIS The Walt Disney Co. Add +2.5% 0.84% +0.10
GSBD Goldman Sachs BDC Inc. Add +500.0% 0.11% +0.09
UPS United Parcel Service Class B New 0.08% +0.08
MSDL Morgan Stanley Direct Lendin New 0.07% +0.07
XLF SS Financial Select Sector Add +0.9% 0.88% +0.05
AMGN Amgen Inc. New 0.05% +0.05
BWAY Brainsway Ltd.-ADR Add +346.4% 0.06% +0.05
V Visa Inc. Class A Add +5.3% 0.26% +0.05
MNR Mach Natural Resources LP Add +34.6% 0.18% +0.05
SBUX Starbucks Corp. Add +0.5% 1.19% +0.05
BRK.A Berkshire Hathaway Inc. Class A Add +9.5% 1.54% +0.05
PTLO Portillo's Inc. Class A Add +6.9% 2.57% +0.04
ETHE Grayscale Ethereum Staking E New 0.04% +0.04
KVUE Kenvue Inc. Add +18.7% 2.29% +0.04
KBDC Kayne Anderson BDC Inc. New 0.03% +0.03
OSCR Oscar Health Inc. Class A New 0.03% +0.03
IBIT iShares Bitcoin Trust ETF Add +58.6% 0.05% +0.03
IWF iShares Russell 1000 Growth Add +3.9% 0.63% +0.03
JEPQ JPM Nasdaq Equity Premium New 0.03% +0.03
DKL Delek Logistics Partners LP New 0.03% +0.03
CSX CSX Corp. New 0.02% +0.02
MA Mastercard Inc. Class A Add +10.5% 0.16% +0.02
GERN Geron Corp. New 0.02% +0.02
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +5.3% 0.92% +0.02
ARKG ARK Genomic Revolution ETF New 0.02% +0.02
COST Costco Wholesale Corp. New 0.02% +0.02
VMEO Vimeo Inc. Add +12.9% 0.07% +0.02
NTR Nutrien Ltd. New 0.02% +0.02
VOO Vanguard S&P 500 ETF Add +4.2% 1.32% +0.02
FDMT 4D Molecular Therapeutics Inc. New 0.01% +0.01
VTWO Vanguard Russell 2000 ETF Add +7.5% 0.68% +0.01
IUSV iShares Core S&P U.S. Value Add +10.1% 0.55% +0.01
NVDA Nvidia Corp. Add +29.2% 0.07% +0.01
UNH Unitedhealth Group Inc. Add +22.9% 0.14% +0.01
HPE Hewlett Packard Enterprise Add +27.3% 0.06% +0.01
HD Home Depot Inc. Add +8.2% 0.20% +0.00
TEVA Teva Pharmaceutical-SP ADR Add +15.9% 0.06% +0.00

Notes & Other Activity Q3 2024 → Q4 2024
CXAIW Kins Tech Group Class A -CW25 *W EXP 99/99/999 Add +27.8% 651,800 $98K

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