Zuckerman Investment Group, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 15, 2025), Zuckerman Investment Group, LLC reported 153 stock positions worth $1.0 billion. Its top holding was Vertiv Class A (VRT) at 8.8% of the portfolio, followed by Ulta Beauty (ULTA, 5.0%) and McKesson (MCK, 3.6%). Compared with Q1 2025, it opened 12 new positions, sold out of 21, added to 70 and reduced 35. The biggest buy was Vertiv Class A (VRT, shares +3%) and the biggest sale an exit from Yum China (YUMC).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001423296
- Portfolio Value
- $1.0B (Q2 2025)
- SEC Filing
- 0001423296-25-000008 ↗ filed Aug 15, 2025
Holdings Value
Holdings 153 stocks · $1.0B
| VRT Vertiv Holdings Co. Class A | 8.76% | 701,579 | $90.1M | Add +3.1% |
| ULTA Ulta Beauty Inc. | 5.04% | 110,849 | $51.9M | Add +1.6% |
| MCK McKesson Corp. | 3.56% | 49,908 | $36.6M | Reduce -15.0% |
| MSFT Microsoft Corp. | 3.30% | 68,290 | $34.0M | Add +4.1% |
| KKR KKR & Co. Inc. | 2.96% | 228,801 | $30.4M | Add +18.9% |
| GOOGL Alphabet Inc. Class A | 2.91% | 169,481 | $29.9M | Add +3.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.83% | 59,815 | $29.1M | Reduce -0.9% |
| META Meta Platforms Inc. Class A | 2.82% | 39,222 | $28.9M | Add +4.2% |
| VWO Vanguard Ftse Emerging Marke | 2.47% | 513,043 | $25.4M | Add +2.7% |
| PNR Pentair PLC | 2.43% | 242,837 | $24.9M | Add +1.2% |
| DKS Dick's Sporting Goods Inc. | 2.42% | 125,799 | $24.9M | Add +4.1% |
| SHYF The Shyft Group Inc. | 2.36% | 1,935,036 | $24.3M | Add +37.1% |
| AVTR Avantor Inc. | 2.34% | 1,784,426 | $24.0M | Add +40.3% |
| VEA Vanguard Ftse Developed ETF | 2.26% | 406,892 | $23.2M | Add +2.7% |
| ICLR Icon PLC | 2.24% | 158,202 | $23.0M | Add +21.8% |
| CSW CSW Industrials Inc. | 2.23% | 79,887 | $22.9M | Reduce -0.3% |
| GPGI Gpgi Inc. filed as COMPOSECURE INC | 2.22% | 1,622,542 | $22.9M | Add +4.7% |
| PGR Progressive Corp. | 2.14% | 82,392 | $22.0M | Reduce -0.3% |
| PTLO Portillo's Inc. Class A | 2.13% | 1,873,724 | $21.9M | Add +1.6% |
| CHWY Chewy Inc. Class A | 2.05% | 493,932 | $21.1M | Reduce -4.4% |
| AMZN Amazon.com Inc. | 2.03% | 95,034 | $20.8M | Add +9.2% |
| AAPL Apple Inc. | 1.98% | 99,012 | $20.3M | Add +3.6% |
| KVUE Kenvue Inc. | 1.94% | 954,961 | $20.0M | Reduce -12.5% |
| JPM JPMorgan Chase & Co. | 1.75% | 61,939 | $18.0M | Add +2.3% |
| VOO Vanguard S&P 500 ETF | 1.54% | 27,821 | $15.8M | Add +9.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.49% | 21 | $15.3M | No change |
| HSIC Henry Schein Inc. | 1.49% | 209,299 | $15.3M | Add +3.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.45% | 120,233 | $14.9M | Add +57.0% |
| ABBV Abbvie Inc. | 1.42% | 78,685 | $14.6M | Add +1.8% |
| VDE Vanguard Energy ETF | 1.38% | 118,984 | $14.2M | Add +2.1% |
| SITE Siteone Landscape Supply Inc. | 1.13% | 96,318 | $11.6M | Add +77.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.09% | 40,059 | $11.2M | Add +12.9% |
| OIH Vaneck Oil Services ETF | 1.06% | 47,422 | $10.9M | Add +4.3% |
| SBUX Starbucks Corp. | 1.03% | 115,391 | $10.6M | Add +4.2% |
| LULU Lululemon Athletica Inc. | 1.00% | 43,351 | $10.3M | New |
| BCO The Brink's Co. | 0.99% | 114,288 | $10.2M | Reduce -0.1% |
| CSWC Capital Southwest Corp. | 0.99% | 460,375 | $10.1M | Add +7.8% |
| ABT Abbott Laboratories | 0.96% | 72,748 | $9.9M | No change |
| XLF SS Financial Select Sector | 0.88% | 171,795 | $9.0M | Add +0.1% |
| VTWO Vanguard Russell 2000 ETF | 0.82% | 96,644 | $8.4M | Add +20.0% |
| HLMN Hillman Solutions Corp. | 0.80% | 1,152,954 | $8.2M | Add +1.5% |
| IWF iShares Russell 1000 Growth | 0.79% | 19,134 | $8.1M | Add +20.5% |
| AAP Advance Auto Parts Inc. | 0.76% | 167,807 | $7.8M | Reduce -5.5% |
| IUSV iShares Core S&P U.S. Value | 0.70% | 75,825 | $7.2M | Add +22.6% |
| ADBE Adobe Inc. | 0.67% | 17,741 | $6.9M | New |
| PLTR Palantir Technologies Inc. Class A | 0.66% | 49,939 | $6.8M | Reduce -42.5% |
| MRK Merck & Co. Inc. | 0.64% | 83,140 | $6.6M | Add +11.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.51% | 9,529 | $5.3M | Reduce -9.3% |
| RHLD Resolute Holdings Manag | 0.40% | 127,843 | $4.1M | Add +0.9% |
| V Visa Inc. Class A | 0.31% | 8,971 | $3.2M | Add +15.0% |
| IEMG iShares Core MSCI Emerging | 0.26% | 44,567 | $2.7M | Reduce -0.3% |
| PEP Pepsico Inc. | 0.25% | 19,288 | $2.5M | Add +16.1% |
| JNJ Johnson & Johnson | 0.22% | 14,667 | $2.2M | Reduce -3.3% |
| XLB SS Materials Select Sector | 0.20% | 23,980 | $2.1M | Add +7.5% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.20% | 25,549 | $2.1M | Add +14.6% |
| HD Home Depot Inc. | 0.20% | 5,681 | $2.1M | Add +10.1% |
| VZ Verizon Communications Inc. | 0.20% | 47,505 | $2.1M | Add +7.1% |
| TSLA Tesla Inc. | 0.19% | 6,293 | $2.0M | Reduce -50.6% |
| CBOE Cboe Global Markets Inc. | 0.19% | 8,415 | $2.0M | No change |
| BMY Bristol-Myers Squibb Co. | 0.19% | 42,202 | $2.0M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.19% | 6,595 | $1.9M | Reduce -38.8% |
| ARCC Ares Capital Corp. | 0.18% | 85,017 | $1.9M | Reduce -15.2% |
| MA Mastercard Inc. Class A | 0.18% | 3,204 | $1.8M | Add +13.0% |
| ORCL Oracle Corp. | 0.17% | 7,919 | $1.7M | No change |
| GOOG Alphabet Inc. Class C | 0.17% | 9,674 | $1.7M | Add +10.4% |
| ATR Aptargroup Inc. | 0.16% | 10,520 | $1.6M | No change |
| XLRE SS Real Estate Select Sector | 0.15% | 38,077 | $1.6M | Add +8.8% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.14% | 20,008 | $1.4M | No change |
| CEG Constellation Energy | 0.13% | 4,277 | $1.4M | Reduce -3.2% |
| AMD Advanced Micro Devices | 0.13% | 9,535 | $1.4M | Add +26.7% |
| MNR Mach Natural Resources LP | 0.13% | 90,000 | $1.3M | Reduce -12.6% |
| NVDA Nvidia Corp. | 0.12% | 8,123 | $1.3M | Add +4.0% |
| PFE Pfizer Inc. | 0.12% | 51,580 | $1.3M | Reduce -9.4% |
| UNH Unitedhealth Group Inc. | 0.12% | 3,994 | $1.2M | Add +53.9% |
| VYM Vanguard High DVD Yield ETF | 0.12% | 9,288 | $1.2M | Reduce -1.3% |
| DELL Dell Technologies -C | 0.12% | 10,010 | $1.2M | No change |
| GS Goldman Sachs Group Inc. | 0.11% | 1,573 | $1.1M | Add +34.3% |
| GSBD Goldman Sachs BDC Inc. | 0.09% | 85,000 | $956K | Add +10.4% |
| DVN Devon Energy Corp. | 0.09% | 29,000 | $922K | Add +20.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.09% | 1,483 | $916K | Add +2.4% |
| RTX RTX Corp. | 0.09% | 6,005 | $877K | Add +3.7% |
| ARKK ARK Innovation ETF | 0.08% | 12,250 | $861K | No change |
| MSDL Morgan Stanley Direct Lendin | 0.08% | 44,000 | $824K | No change |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.08% | 18,709 | $807K | Add +15.7% |
| WFC Wells Fargo & Co. | 0.08% | 9,968 | $799K | No change |
| HYBB iShares BB Rated Corp. Bond | 0.08% | 16,426 | $772K | Add +8.0% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.07% | 9,616 | $764K | Add +9.3% |
| BIV Vanguard Intermediate-Term B | 0.07% | 9,713 | $751K | Add +7.8% |
| LLY Eli Lilly & Co. | 0.07% | 927 | $722K | Add +3.0% |
| IVV iShares Core S&P 500 ETF | 0.07% | 1,162 | $721K | Add +2.9% |
| ETN Eaton Corp. PLC | 0.07% | 2,000 | $714K | Reduce -16.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.07% | 15,060 | $713K | No change |
| CRWV Coreweave Inc. Class A | 0.06% | 4,000 | $652K | New |
| TMO Thermo Fisher Scientific Inc. | 0.06% | 1,600 | $649K | No change |
| UBER Uber Technologies Inc. | 0.06% | 6,935 | $647K | Add +13.0% |
| AMGN Amgen Inc. | 0.06% | 2,301 | $642K | Add +26.1% |
| J Jacobs Solutions Inc. | 0.06% | 4,730 | $622K | No change |
| TEVA Teva Pharmaceutical-SP ADR | 0.06% | 36,406 | $610K | No change |
| CSCO Cisco Systems Inc. | 0.06% | 8,759 | $608K | No change |
| LB Landbridge Co. LLC-A | 0.06% | 8,900 | $601K | Add +81.6% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $3.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 4,101,000 | $3.7M | Add +159.2% |
| CXAIW Kins Tech Group Class A -CW25 | *W EXP 99/99/999 | 40,000 | $3K | Reduce -93.9% |
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q1 2025 → Q2 2025
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −2.59 |
| OPLN Openlane Inc. | Sold out | 0.00% | −2.06 |
| KVUE Kenvue Inc. | Reduce -12.5% | 1.94% | −0.86 |
| UHAL.B U-Haul Holding Co.-Non Voting | Sold out | 0.00% | −0.73 |
| MCK McKesson Corp. | Reduce -15.0% | 3.56% | −0.68 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.9% | 2.83% | −0.63 |
| PGR Progressive Corp. | Reduce -0.3% | 2.14% | −0.37 |
| CSW CSW Industrials Inc. | Reduce -0.3% | 2.23% | −0.28 |
| CDW CDW Corp. | Sold out | 0.00% | −0.17 |
| TSLA Tesla Inc. | Reduce -50.6% | 0.19% | −0.16 |
| PLTR Palantir Technologies Inc. Class A | Reduce -42.5% | 0.66% | −0.12 |
| C Citigroup Inc. | Sold out | 0.00% | −0.12 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.11 |
| IBM Intl Business Machines Corp. | Reduce -38.8% | 0.19% | −0.10 |
| CLF Cleveland-Cliffs Inc. | Sold out | 0.00% | −0.10 |
| BCO The Brink's Co. | Reduce -0.1% | 0.99% | −0.07 |
| PATH Uipath Inc. Class A | Sold out | 0.00% | −0.06 |
| ARCC Ares Capital Corp. | Reduce -15.2% | 0.18% | −0.06 |
| JNJ Johnson & Johnson | Reduce -3.3% | 0.22% | −0.05 |
| MNR Mach Natural Resources LP | Reduce -12.6% | 0.13% | −0.05 |
| HALO Halozyme Therapeutics Inc. | Sold out | 0.00% | −0.04 |
| VMEO Vimeo Inc. | Reduce -50.4% | 0.02% | −0.04 |
| PFE Pfizer Inc. | Reduce -9.4% | 0.12% | −0.03 |
| CTRE Caretrust REIT Inc. | Sold out | 0.00% | −0.03 |
| TGLS Tecnoglass Holdings Inc. | Sold out | 0.00% | −0.03 |
| SLB SLB Ltd. | Reduce -43.9% | 0.02% | −0.03 |
| STNE Stoneco Ltd. Class A | Sold out | 0.00% | −0.03 |
| MSOS Advisorshares Pure US Cann | Reduce -55.8% | 0.02% | −0.03 |
| GXO Gxo Logistics Inc. | Sold out | 0.00% | −0.02 |
| CE Celanese Corp. | Sold out | 0.00% | −0.02 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −0.02 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.02 |
| BWAY Brainsway Ltd.-ADR | Reduce -43.3% | 0.05% | −0.02 |
| CME Cme Group Inc. | Reduce -40.7% | 0.02% | −0.02 |
| TLS Telos Corporation | Sold out | 0.00% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -9.3% | 0.51% | −0.02 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -22.2% | 0.04% | −0.02 |
| BKR Baker Hughes Co. | Reduce -5.6% | 0.05% | −0.02 |
| CLMT Calumet Inc. | Sold out | 0.00% | −0.01 |
| IAS Integral Ad Science Holding | Sold out | 0.00% | −0.01 |
| VYM Vanguard High DVD Yield ETF | Reduce -1.3% | 0.12% | −0.01 |
| HPQ HP Inc. | Reduce -0.2% | 0.03% | −0.01 |
| GERN Geron Corp. | Reduce -14.6% | 0.01% | −0.01 |
| CXAPP INC | Sold out | 0.00% | −0.00 |
| MMM 3M Co. | Reduce -0.1% | 0.05% | −0.00 |
| TLRY Tilray Brands Inc. | Sold out | 0.00% | −0.00 |
| ARKG ARK Genomic Revolution ETF | Reduce -16.7% | 0.02% | −0.00 |
| HWC Hancock Whitney Corp. | Reduce -5.5% | 0.02% | −0.00 |
| FTNT Fortinet Inc. | Reduce -1.1% | 0.05% | −0.00 |
| ETN Eaton Corp. PLC | Reduce -16.7% | 0.07% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| VRT Vertiv Holdings Co. Class A | Add +3.1% | 8.76% | +3.49 |
| SHYF The Shyft Group Inc. | Add +37.1% | 2.36% | +1.13 |
| LULU Lululemon Athletica Inc. | New | 1.00% | +1.00 |
| ULTA Ulta Beauty Inc. | Add +1.6% | 5.04% | +0.75 |
| ADBE Adobe Inc. | New | 0.67% | +0.67 |
| MSFT Microsoft Corp. | Add +4.1% | 3.30% | +0.66 |
| DIS The Walt Disney Co. | Add +57.0% | 1.45% | +0.64 |
| KKR KKR & Co. Inc. | Add +18.9% | 2.96% | +0.57 |
| META Meta Platforms Inc. Class A | Add +4.2% | 2.82% | +0.49 |
| SITE Siteone Landscape Supply Inc. | Add +77.0% | 1.13% | +0.42 |
| GPGI Gpgi Inc. | Add +4.7% | 2.22% | +0.42 |
| AMZN Amazon.com Inc. | Add +9.2% | 2.03% | +0.25 |
| GOOGL Alphabet Inc. Class A | Add +3.2% | 2.91% | +0.18 |
| IWF iShares Russell 1000 Growth | Add +20.5% | 0.79% | +0.17 |
| PNR Pentair PLC | Add +1.2% | 2.43% | +0.17 |
| JPM JPMorgan Chase & Co. | Add +2.3% | 1.75% | +0.15 |
| VOO Vanguard S&P 500 ETF | Add +9.3% | 1.54% | +0.13 |
| VTWO Vanguard Russell 2000 ETF | Add +20.0% | 0.82% | +0.12 |
| AVTR Avantor Inc. | Add +40.3% | 2.34% | +0.12 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +12.9% | 1.09% | +0.11 |
| VEA Vanguard Ftse Developed ETF | Add +2.7% | 2.26% | +0.09 |
| IUSV iShares Core S&P U.S. Value | Add +22.6% | 0.70% | +0.09 |
| CRWV Coreweave Inc. Class A | New | 0.06% | +0.06 |
| AMD Advanced Micro Devices | Add +26.7% | 0.13% | +0.05 |
| VWO Vanguard Ftse Emerging Marke | Add +2.7% | 2.47% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +34.3% | 0.11% | +0.04 |
| MRVL Marvell Technology Inc. | New | 0.03% | +0.03 |
| NVDA Nvidia Corp. | Add +4.0% | 0.12% | +0.03 |
| IVW iShares S&P 500 Growth ETF | New | 0.03% | +0.03 |
| PCAR Paccar Inc. | Add +100.0% | 0.06% | +0.02 |
| NTR Nutrien Ltd. | New | 0.02% | +0.02 |
| DHR Danaher Corp. | New | 0.02% | +0.02 |
| COST Costco Wholesale Corp. | New | 0.02% | +0.02 |
| IAU iShares Gold Trust | New | 0.02% | +0.02 |
| LB Landbridge Co. LLC-A | Add +81.6% | 0.06% | +0.02 |
| AVGO Broadcom Inc. | Add +11.3% | 0.05% | +0.02 |
| GOOG Alphabet Inc. Class C | Add +10.4% | 0.17% | +0.02 |
| AAXJ iShares MSCI All Country Asi | New | 0.02% | +0.02 |
| V Visa Inc. Class A | Add +15.0% | 0.31% | +0.02 |
| NMFC New Mountain Finance Corp. | New | 0.02% | +0.02 |
| UBER Uber Technologies Inc. | Add +13.0% | 0.06% | +0.01 |
| JEPQ JPM Nasdaq Equity Premium | Add +59.5% | 0.04% | +0.01 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +14.6% | 0.20% | +0.01 |
| KBDC Kayne Anderson BDC Inc. | Add +50.0% | 0.04% | +0.01 |
| IBIT iShares Bitcoin Trust ETF | Add +0.5% | 0.06% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +4.1% | 0.04% | +0.01 |
| MA Mastercard Inc. Class A | Add +13.0% | 0.18% | +0.01 |
| EOSE Eos Energy Enterprises Inc. | New | 0.01% | +0.01 |
| SHYG iShares 0-5 YR HY Corp. Bond | Add +15.7% | 0.08% | +0.00 |
| HSIC Henry Schein Inc. | Add +3.8% | 1.49% | +0.00 |
Notes & Other Activity Q1 2025 → Q2 2025
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | Add +159.2% | 4,101,000 | $3.7M |
| CXAIW Kins Tech Group Class A -CW25 | *W EXP 99/99/999 | Reduce -93.9% | 40,000 | $3K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 137 | $1.2B | VRT, GOOGL, ICLR, ULTA, KKR |
| Q1 2026 | 134 | $1.1B | VRT, GOOGL, ULTA, MCK, CRM |
| Q4 2025 | 136 | $1.1B | VRT, ULTA, GOOGL, MCK, MSFT |
| Q3 2025 | 156 | $1.1B | VRT, ULTA, GOOGL, MCK, MSFT |
| Q2 2025 | 153 | $1.0B | VRT, ULTA, MCK, MSFT, KKR |
| Q1 2025 | 162 | $931.3M | VRT, ULTA, MCK, BRK.B, KVUE |
| Q4 2024 | 151 | $1.0B | VRT, ULTA, MCK, GOOGL, KKR |
| Q3 2024 | 143 | $971.6M | VRT, ULTA, PNR, CSW, MCK |
| Q2 2024 | 146 | $864.7M | VRT, ULTA, MCK, DKS, MSFT |
| Q1 2024 | 145 | $866.0M | VRT, ULTA, MCK, PNR, DKS |