Zuckerman Investment Group, LLC

CIK 0001423296 · Q2 2026

13F Equity AUM

$1.2B

+10.9% QoQ

Positions

138

+3 QoQ

AUM Rank

#3,079

Top 25%

Skill Alpha (FF)

+3.1%/yr^ns

No Clear Edge

Rank #1,031 · Top 12%

vs S&P +1.9%/yr (unadj.)

Quarters Tracked

~14 years

Portfolio Concentration

Top 5: 25.4%Top 10: 39.5%Top 20: 62.0%

VRT9.4%

GOOGL4.9%

ICLR4.3%

ULTA3.7%

KKR3.0%

MSFT3.0%

MCK2.8%

AAPL2.8%

ABBV2.8%

VWO2.7%

Others (128)60.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services29.5%

Industrials18.4%

Healthcare14.9%

Consumer Cyclical12.5%

Technology10.9%

Communication Services8.7%

Other5.1%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 138Median: 0.12%Avg: 0.72%

0–0.5%

91(7.7%)

0.5–1%

13(9.9%)

1–3%

28(54.1%)

3–5%

5(19.0%)

5%+

1(9.4%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 138vs 20 funds

0%Low

138

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New16Increased51Decreased33Exited13

New Positions

AEBI SCHMIDT HLDG AG2.0%

+1.9M

CHWY1.9%

+1.2M

SGOV1.2%

+144K

HYBB0.2%

+46K

SHYG0.2%

+50K

VCSH0.2%

+27K

CRWD0.0%

+553

CME0.0%

+2K

PANW0.0%

+906

QCOM0.0%

+1K

Increased

GPGI2.6%

+325K(+20%)

VO1.2%

+137K(+302%)

KKR3.0%

+80K(+26%)

IWF0.9%

+68K(+311%)

CNTN0.0%

+64K(+137%)

LULU1.2%

+50K(+66%)

V0.9%

+21K(+206%)

BIV0.2%

+18K(+174%)

CSCO0.2%

+14K(+157%)

ICLR4.3%

+13K(+5%)

Decreased

VRT9.4%

-69,054(-17%)

XYZ 0.25 11/01/270.5%

-44,000(-1%)

ADBE0.6%

-20,209(-38%)

PTLO0.8%

-12,427(-1%)

AVTR0.0%

-10,274(-27%)

IUSV0.8%

-2,146(-2%)

XLF0.8%

-1,957(-1%)

ABT0.9%

-1,217(-1%)

DIS1.0%

-781(-1%)

XLU0.2%

-623(-1%)

Exited

AEBI SCHMIDT HLDG AG

-1,895,202

ISHARES TR

-164,331

CHWY

-493,238

ISHARES TR

-17,989

ISHARES TR

-17,082

VANGUARD SCOTTSDALE …

-10,039

BCO

-4,124

CTRA

-7,370

GILD

-1,523

ISHARES BITCOIN TRUS…

-5,282

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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