Zuckerman Investment Group, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Zuckerman Investment Group, LLC reported 136 stock positions worth $1.1 billion. Its top holding was Vertiv Class A (VRT) at 9.4% of the portfolio, followed by Ulta Beauty (ULTA, 5.7%) and Alphabet Class A (GOOGL, 4.5%). Compared with Q3 2025, it opened 12 new positions, sold out of 32, added to 51 and reduced 33. The biggest buy was Resolute Holdings Manag (RHLD, shares +0%) and the biggest sale Starbucks (SBUX, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001423296
- Portfolio Value
- $1.1B (Q4 2025)
- SEC Filing
- 0001423296-26-000002 ↗ filed Feb 13, 2026
Holdings Value
Holdings 136 stocks · $1.1B
| VRT Vertiv Holdings Co. Class A | 9.38% | 646,548 | $104.7M | Reduce -1.9% |
| ULTA Ulta Beauty Inc. | 5.74% | 105,856 | $64.0M | Add +0.7% |
| GOOGL Alphabet Inc. Class A | 4.49% | 160,052 | $50.1M | Reduce -2.1% |
| MCK McKesson Corp. | 3.53% | 48,004 | $39.4M | Add +1.5% |
| MSFT Microsoft Corp. | 2.99% | 69,008 | $33.4M | Add +2.6% |
| GPGI Gpgi Inc. filed as COMPOSECURE INC | 2.76% | 1,595,473 | $30.8M | Add +2.7% |
| ABBV Abbvie Inc. | 2.63% | 128,484 | $29.4M | Add +52.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.60% | 57,796 | $29.1M | Reduce -1.8% |
| KKR KKR & Co. Inc. | 2.59% | 226,770 | $28.9M | Add +3.6% |
| ICLR Icon PLC | 2.54% | 155,643 | $28.4M | Add +2.6% |
| VWO Vanguard Ftse Emerging Marke | 2.49% | 517,645 | $27.8M | Add +4.3% |
| META Meta Platforms Inc. Class A | 2.39% | 40,416 | $26.7M | Add +6.8% |
| AAPL Apple Inc. | 2.35% | 96,681 | $26.3M | Reduce -1.5% |
| VEA Vanguard Ftse Developed ETF | 2.32% | 415,225 | $25.9M | Add +5.3% |
| RHLD Resolute Holdings Manag | 2.27% | 122,517 | $25.3M | Add +0.4% |
| PNR Pentair PLC | 2.20% | 235,787 | $24.6M | Add +1.9% |
| DKS Dick's Sporting Goods Inc. | 2.17% | 122,300 | $24.2M | Add +1.1% |
| AEBI Aebi Schmidt Holding AG | 2.11% | 1,861,523 | $23.5M | Reduce -3.7% |
| CSW CSW Industrials Inc. | 2.10% | 79,860 | $23.4M | Add +1.9% |
| AMZN Amazon.com Inc. | 2.01% | 97,179 | $22.4M | Add +4.8% |
| HSIC Henry Schein Inc. | 1.95% | 287,843 | $21.8M | Add +2.3% |
| AVTR Avantor Inc. | 1.80% | 1,749,569 | $20.1M | Add +1.5% |
| JPM JPMorgan Chase & Co. | 1.76% | 60,993 | $19.7M | Add +2.5% |
| PGR Progressive Corp. | 1.73% | 84,965 | $19.3M | Add +9.3% |
| CRM Salesforce Inc. | 1.65% | 69,543 | $18.4M | Add +148.2% |
| VOO Vanguard S&P 500 ETF | 1.62% | 28,783 | $18.1M | Add +2.5% |
| KVUE Kenvue Inc. | 1.45% | 936,091 | $16.1M | Reduce -32.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.42% | 21 | $15.9M | No change |
| CHWY Chewy Inc. Class A | 1.40% | 471,581 | $15.6M | Add +0.7% |
| LULU Lululemon Athletica Inc. | 1.39% | 74,838 | $15.6M | Add +2.6% |
| ABT Abbott Laboratories | 1.37% | 122,175 | $15.3M | Add +56.0% |
| VDE Vanguard Energy ETF | 1.32% | 117,426 | $14.8M | Add +1.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.26% | 123,734 | $14.1M | Add +7.1% |
| OIH Vaneck Oil Services ETF | 1.19% | 46,549 | $13.3M | Add +3.4% |
| BCO The Brink's Co. | 1.13% | 107,932 | $12.6M | Add +1.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.11% | 42,617 | $12.4M | Add +4.3% |
| SITE Siteone Landscape Supply Inc. | 1.10% | 98,181 | $12.2M | Add +5.9% |
| ADBE Adobe Inc. | 0.95% | 30,196 | $10.6M | Reduce -0.6% |
| VTWO Vanguard Russell 2000 ETF | 0.92% | 103,332 | $10.3M | Add +3.0% |
| IWF iShares Russell 1000 Growth | 0.85% | 20,006 | $9.5M | Add +3.7% |
| XLF SS Financial Select Sector | 0.83% | 169,663 | $9.3M | Add +1.6% |
| PTLO Portillo's Inc. Class A | 0.80% | 1,963,750 | $8.9M | Add +6.2% |
| IUSV iShares Core S&P U.S. Value | 0.76% | 83,056 | $8.5M | Add +7.2% |
| PG The Procter & Gamble Co. | 0.66% | 51,382 | $7.4M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.51% | 9,227 | $5.7M | Reduce -3.2% |
| PLTR Palantir Technologies Inc. Class A | 0.35% | 22,121 | $3.9M | Reduce -44.5% |
| V Visa Inc. Class A | 0.29% | 9,099 | $3.2M | Reduce -1.6% |
| IEMG iShares Core MSCI Emerging | 0.27% | 45,255 | $3.0M | Add +1.6% |
| PEP Pepsico Inc. | 0.26% | 20,561 | $3.0M | Add +3.6% |
| JNJ Johnson & Johnson | 0.26% | 13,844 | $2.9M | Reduce -0.5% |
| HRMY Harmony Biosciences Holdings | 0.25% | 75,461 | $2.8M | Reduce -38.8% |
| GOOG Alphabet Inc. Class C | 0.22% | 7,874 | $2.5M | Reduce -18.6% |
| MA Mastercard Inc. Class A | 0.20% | 3,906 | $2.2M | Add +8.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.19% | 50,850 | $2.2M | Add +11.9% |
| XLB SS Materials Select Sector | 0.19% | 46,726 | $2.1M | Reduce -2.7% |
| CBOE Cboe Global Markets Inc. | 0.19% | 8,415 | $2.1M | No change |
| HD Home Depot Inc. | 0.18% | 5,834 | $2.0M | Add +0.8% |
| TSLA Tesla Inc. | 0.16% | 3,947 | $1.8M | Reduce -7.1% |
| VZ Verizon Communications Inc. | 0.16% | 43,333 | $1.8M | Reduce -7.4% |
| ORCL Oracle Corp. | 0.15% | 8,879 | $1.7M | Add +7.3% |
| NVDA Nvidia Corp. | 0.14% | 8,494 | $1.6M | Reduce -2.7% |
| CEG Constellation Energy | 0.14% | 4,277 | $1.5M | No change |
| XLRE SS Real Estate Select Sector | 0.13% | 35,965 | $1.5M | Reduce -5.3% |
| GLD SPDR Gold Shares | 0.13% | 3,541 | $1.4M | Add +463.0% |
| UNH Unitedhealth Group Inc. | 0.12% | 4,164 | $1.4M | Reduce -6.0% |
| MRK Merck & Co. Inc. | 0.12% | 12,908 | $1.4M | Reduce -45.7% |
| VYM Vanguard High DVD Yield ETF | 0.12% | 9,256 | $1.3M | No change |
| ATR Aptargroup Inc. | 0.11% | 10,521 | $1.3M | No change |
| GS Goldman Sachs Group Inc. | 0.11% | 1,345 | $1.2M | Reduce -14.3% |
| RTX RTX Corp. | 0.10% | 5,828 | $1.1M | No change |
| AVGO Broadcom Inc. | 0.09% | 3,015 | $1.0M | Add +35.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.09% | 1,489 | $1.0M | Add +0.4% |
| LLY Eli Lilly & Co. | 0.09% | 942 | $1.0M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 18,229 | $1.0M | Reduce -39.7% |
| CSWC Capital Southwest Corp. | 0.09% | 44,930 | $995K | Reduce -89.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.08% | 3,110 | $945K | Add +44.6% |
| ARKK ARK Innovation ETF | 0.08% | 12,250 | $942K | No change |
| WFC Wells Fargo & Co. | 0.08% | 9,968 | $929K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.08% | 1,600 | $927K | No change |
| ACHR Archer Aviation Inc. Class A | 0.08% | 112,216 | $844K | New |
| BMY Bristol-Myers Squibb Co. | 0.07% | 15,390 | $830K | Reduce -63.8% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.07% | 18,905 | $810K | Reduce -1.3% |
| HYBB iShares BB Rated Corp. Bond | 0.07% | 17,153 | $808K | Add +1.8% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.07% | 10,050 | $801K | Add +1.8% |
| IVV iShares Core S&P 500 ETF | 0.07% | 1,166 | $799K | Reduce -1.2% |
| BIV Vanguard Intermediate-Term B | 0.07% | 10,125 | $789K | Add +1.6% |
| BCTK Baron Technology ETF | 0.07% | 30,683 | $771K | New |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.07% | 20,008 | $760K | No change |
| CSCO Cisco Systems Inc. | 0.06% | 8,759 | $675K | No change |
| ETN Eaton Corp. PLC | 0.06% | 2,001 | $637K | No change |
| NMRK Newmark Group Inc. Class A | 0.06% | 36,250 | $629K | No change |
| J Jacobs Solutions Inc. | 0.06% | 4,730 | $627K | No change |
| BKR Baker Hughes Co. | 0.05% | 12,692 | $578K | Reduce -3.5% |
| MMM 3M Co. | 0.05% | 3,600 | $576K | No change |
| UBER Uber Technologies Inc. | 0.05% | 6,935 | $567K | No change |
| DE Deere & Co. | 0.04% | 1,060 | $494K | Add +13.4% |
| SBUX Starbucks Corp. | 0.04% | 5,724 | $482K | Reduce -94.8% |
| XOM Exxon Mobil Corp. | 0.04% | 3,994 | $481K | No change |
| PCAR Paccar Inc. | 0.04% | 4,173 | $457K | Reduce -30.4% |
| BX Blackstone Inc. | 0.04% | 2,956 | $456K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $3.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | 4,086,000 | $3.8M | Reduce -0.4% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q3 2025 → Q4 2025
| SBUX Starbucks Corp. | Reduce -94.8% | 0.04% | −0.82 |
| CSWC Capital Southwest Corp. | Reduce -89.2% | 0.09% | −0.75 |
| KVUE Kenvue Inc. | Reduce -32.2% | 1.45% | −0.63 |
| PLTR Palantir Technologies Inc. Class A | Reduce -44.5% | 0.35% | −0.32 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −0.17 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.8% | 2.60% | −0.15 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.13 |
| AEBI Aebi Schmidt Holding AG | Reduce -3.7% | 2.11% | −0.13 |
| ARCC Ares Capital Corp. | Sold out | 0.00% | −0.13 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.12 |
| MNR Mach Natural Resources LP | Sold out | 0.00% | −0.12 |
| BMY Bristol-Myers Squibb Co. | Reduce -63.8% | 0.07% | −0.10 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.09 |
| GSBD Goldman Sachs BDC Inc. | Sold out | 0.00% | −0.09 |
| MSDL Morgan Stanley Direct Lendin | Sold out | 0.00% | −0.07 |
| TEVA Teva Pharmaceutical-SP ADR | Sold out | 0.00% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -45.7% | 0.12% | −0.06 |
| HRMY Harmony Biosciences Holdings | Reduce -38.8% | 0.25% | −0.06 |
| AAP Advance Auto Parts Inc. | Sold out | 0.00% | −0.06 |
| HPE Hewlett Packard Enterprise | Sold out | 0.00% | −0.06 |
| IBIT iShares Bitcoin Trust ETF | Reduce -64.0% | 0.02% | −0.06 |
| BWAY Brainsway Ltd.-ADR | Sold out | 0.00% | −0.06 |
| BAC Bank of America Corp. | Reduce -39.7% | 0.09% | −0.06 |
| ETHE Grayscale Ethereum Staking E | Sold out | 0.00% | −0.05 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.05 |
| ADBE Adobe Inc. | Reduce -0.6% | 0.95% | −0.05 |
| KBDC Kayne Anderson BDC Inc. | Sold out | 0.00% | −0.04 |
| ACI Albertsons Cos Inc. Class A | Sold out | 0.00% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -7.4% | 0.16% | −0.03 |
| CHW Calamos Global Dynamic Incom | Sold out | 0.00% | −0.03 |
| OSCR Oscar Health Inc. Class A | Sold out | 0.00% | −0.03 |
| ARKG ARK Genomic Revolution ETF | Sold out | 0.00% | −0.03 |
| AI C3.AI Inc. Class A | Sold out | 0.00% | −0.02 |
| MSIF MSC Income Fund Inc. | Sold out | 0.00% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -3.2% | 0.51% | −0.02 |
| NMFC New Mountain Finance Corp. | Sold out | 0.00% | −0.02 |
| UA Under Armour Inc. Class C | Sold out | 0.00% | −0.02 |
| UNH Unitedhealth Group Inc. | Reduce -6.0% | 0.12% | −0.02 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −0.02 |
| XLRE SS Real Estate Select Sector | Reduce -5.3% | 0.13% | −0.02 |
| TSLA Tesla Inc. | Reduce -7.1% | 0.16% | −0.02 |
| FDMT 4D Molecular Therapeutics Inc. | Sold out | 0.00% | −0.02 |
| RXRX Recursion Pharmaceuticals-A | Sold out | 0.00% | −0.02 |
| MSOS Advisorshares Pure US Cann | Sold out | 0.00% | −0.02 |
| AMST Amesite Inc. | Sold out | 0.00% | −0.01 |
| PCAR Paccar Inc. | Reduce -30.4% | 0.04% | −0.01 |
| TLRY Tilray Brands Inc. | Sold out | 0.00% | −0.01 |
| DUOT Duos Technologies Group Inc. | Sold out | 0.00% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -14.3% | 0.11% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| RHLD Resolute Holdings Manag | Add +0.4% | 2.27% | +1.45 |
| CRM Salesforce Inc. | Add +148.2% | 1.65% | +1.03 |
| ABBV Abbvie Inc. | Add +52.3% | 2.63% | +0.81 |
| PG The Procter & Gamble Co. | New | 0.66% | +0.66 |
| ABT Abbott Laboratories | Add +56.0% | 1.37% | +0.40 |
| ULTA Ulta Beauty Inc. | Add +0.7% | 5.74% | +0.40 |
| CSW CSW Industrials Inc. | Add +1.9% | 2.10% | +0.33 |
| HSIC Henry Schein Inc. | Add +2.3% | 1.95% | +0.21 |
| LULU Lululemon Athletica Inc. | Add +2.6% | 1.39% | +0.19 |
| MCK McKesson Corp. | Add +1.5% | 3.53% | +0.13 |
| VEA Vanguard Ftse Developed ETF | Add +5.3% | 2.32% | +0.13 |
| AMZN Amazon.com Inc. | Add +4.8% | 2.01% | +0.12 |
| GLD SPDR Gold Shares | Add +463.0% | 0.13% | +0.10 |
| OIH Vaneck Oil Services ETF | Add +3.4% | 1.19% | +0.10 |
| ACHR Archer Aviation Inc. Class A | New | 0.08% | +0.08 |
| ICLR Icon PLC | Add +2.6% | 2.54% | +0.07 |
| BCTK Baron Technology ETF | New | 0.07% | +0.07 |
| IUSV iShares Core S&P U.S. Value | Add +7.2% | 0.76% | +0.04 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.04% | +0.04 |
| DIS The Walt Disney Co. | Add +7.1% | 1.26% | +0.03 |
| TSM Taiwan Semiconductor-SP ADR | Add +44.6% | 0.08% | +0.03 |
| SLV iShares Silver Trust | New | 0.03% | +0.03 |
| AVGO Broadcom Inc. | Add +35.8% | 0.09% | +0.03 |
| CDNL Cardinal Infrastructure GR-A | New | 0.02% | +0.02 |
| COF Capital One Financial Corp. | New | 0.02% | +0.02 |
| FBTC Fidelity Wise Origin Bitcoin | New | 0.02% | +0.02 |
| AIG American International Group | New | 0.02% | +0.02 |
| VOO Vanguard S&P 500 ETF | Add +2.5% | 1.62% | +0.02 |
| XBI SS SPDR S&P Biotech ETF | New | 0.02% | +0.02 |
| INTC Intel Corp. | New | 0.02% | +0.02 |
| RYAM Rayonier Advanced Materials | New | 0.02% | +0.02 |
| JPM JPMorgan Chase & Co. | Add +2.5% | 1.76% | +0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +11.9% | 0.19% | +0.01 |
| MA Mastercard Inc. Class A | Add +8.9% | 0.20% | +0.01 |
| VTWO Vanguard Russell 2000 ETF | Add +3.0% | 0.92% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +3.7% | 0.85% | +0.01 |
| PEP Pepsico Inc. | Add +3.6% | 0.26% | +0.01 |
| DE Deere & Co. | Add +13.4% | 0.04% | +0.00 |
| SLB SLB Ltd. | Add +1.9% | 0.02% | +0.00 |
| IEMG iShares Core MSCI Emerging | Add +1.6% | 0.27% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.4% | 0.09% | −0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +1.8% | 0.07% | −0.00 |
| HYBB iShares BB Rated Corp. Bond | Add +1.8% | 0.07% | −0.00 |
| BIV Vanguard Intermediate-Term B | Add +1.6% | 0.07% | −0.00 |
| XLF SS Financial Select Sector | Add +1.6% | 0.83% | −0.00 |
| MPC Marathon Petroleum Corp. | Add +2.4% | 0.02% | −0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +4.3% | 2.49% | −0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +4.3% | 1.11% | −0.01 |
| SITE Siteone Landscape Supply Inc. | Add +5.9% | 1.10% | −0.01 |
| VDE Vanguard Energy ETF | Add +1.8% | 1.32% | −0.02 |
Notes & Other Activity Q3 2025 → Q4 2025
| BLOCK INC (XYZ 0.25 11/01/27) | NOTE 0.250%11/0 · principal | Reduce -0.4% | 4,086,000 | $3.8M |
| CXAIW Kins Tech Group Class A -CW25 | *W EXP 99/99/999 | Sold out | 36,870 | $3Kbefore exit |
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 |