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

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 Q4 2024 Q1 2025: $931.3M Q1 2025 Q2 2025: $1.0B $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 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%
TYL Tyler Technologies Inc. 0.06% 1,000 $593K No change
IBIT iShares Bitcoin Trust ETF 0.06% 9,557 $585K Add +0.5%
PCAR Paccar Inc. 0.06% 6,000 $570K Add +100.0%
MMM 3M Co. 0.05% 3,600 $548K Reduce -0.1%
HPE Hewlett Packard Enterprise 0.05% 26,000 $532K Reduce -13.3%
FTNT Fortinet Inc. 0.05% 5,000 $529K Reduce -1.1%
AVGO Broadcom Inc. 0.05% 1,884 $519K Add +11.3%
BKR Baker Hughes Co. 0.05% 13,147 $504K Reduce -5.6%
BWAY Brainsway Ltd.-ADR 0.05% 38,000 $500K Reduce -43.3%
AI C3.AI Inc. Class A 0.05% 20,300 $499K No change
DE Deere & Co. 0.05% 935 $475K No change
KBDC Kayne Anderson BDC Inc. 0.04% 30,000 $458K Add +50.0%
BX Blackstone Inc. 0.04% 2,959 $443K No change
NMRK Newmark Group Inc. Class A 0.04% 36,250 $440K No change
XOM Exxon Mobil Corp. 0.04% 4,076 $439K Add +3.1%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.04% 8,000 $435K Add +59.5%
OSCR Oscar Health Inc. Class A 0.04% 19,647 $421K Reduce -1.9%
NVO Novo-Nordisk A/S-Spons ADR 0.04% 5,952 $411K Reduce -22.2%
TSM Taiwan Semiconductor-SP ADR 0.04% 1,717 $389K Add +4.1%
MOH Molina Healthcare Inc. 0.03% 1,205 $359K No change
MRVL Marvell Technology Inc. 0.03% 4,520 $350K New
DKL Delek Logistics Partners LP 0.03% 8,000 $344K No change
ETHE Grayscale Ethereum Staking E 0.03% 16,000 $334K No change
KO The Coca-Cola Co. 0.03% 4,543 $321K No change
HPQ HP Inc. 0.03% 12,400 $303K Reduce -0.2%
IJH iShares Core S&P Midcap ETF 0.03% 4,735 $294K No change
CHW Calamos Global Dynamic Incom 0.03% 41,074 $293K No change
IVW iShares S&P 500 Growth ETF 0.03% 2,485 $274K New
IWM iShares Russell 2000 ETF 0.03% 1,251 $270K No change
ZBRA Zebra Technologies Corp. Class A 0.03% 850 $262K No change
DEO Diageo PLC-Sponsored ADR 0.03% 2,560 $258K Add +0.2%
HWC Hancock Whitney Corp. 0.02% 4,333 $249K Reduce -5.5%
ARKG ARK Genomic Revolution ETF 0.02% 10,000 $244K Reduce -16.7%
ESRT Empire State Realty Trust-A 0.02% 30,000 $243K No change
CME Cme Group Inc. 0.02% 874 $241K Reduce -40.7%
MPC Marathon Petroleum Corp. 0.02% 1,400 $233K No change
NTR Nutrien Ltd. 0.02% 3,940 $229K New
DHR Danaher Corp. 0.02% 1,123 $222K New
COST Costco Wholesale Corp. 0.02% 224 $221K New
VMEO Vimeo Inc. 0.02% 54,050 $218K Reduce -50.4%
IAU iShares Gold Trust 0.02% 3,457 $216K New
AIG American International Group 0.02% 2,500 $214K No change
BABA Alibaba Group Holding-SP ADR 0.02% 1,886 $214K Add +1.2%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.02% 6,317 $214K Reduce -43.9%
RSI Rush Street Interactive Inc. 0.02% 14,250 $212K No change
AAXJ iShares MSCI All Country Asi 0.02% 2,457 $203K New
RXRX Recursion Pharmaceuticals-A 0.02% 35,000 $177K No change
MSOS Advisorshares Pure US Cann 0.02% 67,234 $162K Reduce -55.8%
NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP 0.02% 15,000 $158K New
AMST Amesite Inc. 0.01% 50,000 $135K No change
GERN Geron Corp. 0.01% 88,000 $124K Reduce -14.6%
EOSE Eos Energy Enterprises Inc. 0.01% 15,321 $78K New
FDMT 4D Molecular Therapeutics Inc. 0.01% 20,000 $74K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $3.7M (not counted above)
SecurityClassShares / PrincipalValueChange
BLOCK INC (XYZ 0.25 11/01/27) NOTE 0.250%11/0 · principal 4,101,000$3.7MAdd +159.2%
CXAIW Kins Tech Group Class A -CW25 *W EXP 99/99/999 40,000$3KReduce -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

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