UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 2049
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
Check here is Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Zazove Associates, LLC
Address: 940 Southwood Blvd.
Suite 200
Incline Village, NV 89401
13F File Number: 28-5338
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person signing
the report is authorized to submit it, that all information contained
herein is true, correct and complete, and that it is understood that
all required items, statements, schedules, lists, and tables, are
considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Steven M. Kleiman
Title: Chief Operating Officer
Phone: (773) 283-8822
Signature, Place, and Date of Signing:
Steven M. Kleiman Chicago, Illinois May 12, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT
OF 1934.
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Form 13 F Summary Page
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 87
Form 13F Information Table Value Total: $520,419
List of Other Included Managers: None
<PAGE>
<TABLE> <C> <C>
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER Voting Authority(SH)
NAME OF ISSUER TITLE OF CLASS CUSIP (1000s) PRN AMT PRN CALL DSCRETN MGRS (a)Sole(b)Shared(c)None
CNF Trust I $2.500 TE CONS SER A 12612V205 "5,861" "105,600" SH Sole "105,600" 0 0
Crescent Real Estate PFD CV A 6.75% 225756204 "3,159" "199,000" SH Sole "199,000" 0 0
Equity Residential Properties PFD CONV E 7% 29476L883 "9,476" "410,900" SH Sole "410,900" 0 0
Freeport McMoran Copper PFD CV 0.05 SH 35671D501 "3,422" "215,550" SH Sole "215,550" 0 0
Lab Corp of America (Class B) PFD CVB PAYIN 50540R300 "5,325" "121,012" SH Sole "121,012" 0 0
Lab Corp of America (Series A)PFD CV ESCH%A 50540R201 "23,809" "490,900" SH Sole "490,900" 0 0
"Metromedia Int'l Group, Inc."PFD CONV% 591695200 "8,100" "302,800" SH Sole "302,800" 0 0
National Australia Bank CAP UTS EXCH BL 632525309 "3,485" "111,300" SH Sole "111,300" 0 0
Prologis Trust PRD CV SBI B 743410300 "11,055" "434,575" SH Sole "434,575" 0 0
Treev PIK $0.84 PFD CONV SER A 894692201 "3,359" "451,600" SH Sole "451,600" 0 0
AES Corporation JRSBDBCV 4.5%05 00130HAN5 960 "1,000,000" PRN Sole 0 0 0
Action Performance Companies SB NT CV 4.75% 05 004933AB3 "2,206" "2,500,000" PRN Sole 0 0 0
"Alpharma, Inc." SB NT CV 5.75%05 020813AB7 "2,876" "1,900,000" PRN Sole 0 0 0
Altos Hornos De Mexico SR NT CV 5.5%01 022069AA6 905 "1,845,000" PRN Sole 0 0 0
Alza Corp. SUB LYON ZERO 14 022615AC2 "7,856" "15,000,000" PRN Sole 0 0 0
Alza Corp. SUB DB CONV 5%06 022615AD0 "9,681" "8,310,000" PRN Sole 0 0 0
American Retirement Corp SBDBCV5.75%02 028913AA9 "3,883" "4,650,000" PRN Sole 0 0 0
"Amkor Technology, Inc." SBNTCV 5.75%03 031652AA8 "5,750" "6,805,000" PRN Sole 0 0 0
Aspect Telecommunications SB DB CV ZERO 18 045237AE4 "1,815" "9,300,000" PRN Sole 0 0 0
Aviron SB NT CV 5.75%05 053762AC4 "2,188" "2,500,000" PRN Sole 0 0 0
"BankAtlantic Bancorp, Inc." SBDVCV 6.75%06 065908AB1 "3,019" "2,637,000" PRN Sole 0 0 0
"BankAtlantic Bancorp, Inc." SBDBCV 5.625%07 065908AC9 "7,829" "9,910,000" PRN Sole 0 0 0
CKE Restaurants Inc. SBNTCV 4.25%04 12561EAB1 "3,848" "4,965,000" PRN Sole 0 0 0
Carematrix Corp. SBNTCV 6.25%04 141706AC5 "5,666" "6,550,000" PRN Sole 0 0 0
"Checkpoint Systems, Inc." SBDVCV 5.25%05 162825AB9 "1,080" "1,500,000" PRN Sole 0 0 0
Complete Mgmt. Inc. SUB DB Conv. 8%03 20452CAB0 11 "375,000" PRN Sole 0 0 0
Concentra Managed Care SBNTCV 4.5%03 20589TAC7 "1,241" "1,320,000" PRN Sole 0 0 0
DRS Technologies Inc. SRSBDBCV 9%03 23330XAB6 208 "202,000" PRN Sole 0 0 0
Developers Div Realty SUB DB CONV 7%99 251591AA1 911 "912,000" PRN Sole 0 0 0
Diamond Offshore Drill SBNTCV 3.75%07 25271CAA0 "1,294" "1,245,000" PRN Sole 0 0 0
Einstein/Noah Bagel Corp. SBDBCV 7.25%04 282577AC9 638 "1,050,000" PRN Sole 0 0 0
Empresas ICA Socieded SUB DB CONV 5%04 292448AC1 "1,249" "1,850,000" PRN Sole 0 0 0
Family Golf Centers SBNTCV 5.75%04 30701AAC0 "4,460" "7,311,000" PRN Sole 0 0 0
Financial Federal Corp. SUB NT CV 4.5%05 317492AC0 "3,723" "4,304,000" PRN Sole 0 0 0
France Telecom DEP BD CV 144A04 35177QAB1 339 "350,000" PRN Sole 0 0 0
Fuisz Technologies Ltd. SB DB CV 7%04 359536AB5 "2,548" "3,620,000" PRN Sole 0 0 0
Genzyme Corp. SBNTCV 5.25%05 372917AF1 739 "500,000" PRN Sole 0 0 0
HRPT Properties SBDBCV-A 7.5%03 40426WAB7 "1,867" "1,965,000" PRN Sole 0 0 0
Healthcare Realty Trust SBDBCV 6.55%02 421946AA2 "1,336" "1,510,000" PRN Sole 0 0 0
Healthsouth Corp. SBDBCV 3.25%03 421924AF8 "22,759" "27,755,000" PRN Sole 0 0 0
Hilton Hotels Corporation Sub NT Conv 5%06 432848AL3 "9,865" "10,495,000" PRN Sole 0 0 0
"Homebase, Inc." SBNTCV 5.25% 04 43738EAB4 "6,416" "8,850,000" PRN Sole 0 0 0
Interim Services Inc. SUB NT CV 4.5%05 45868PAA8 "13,759" "17,725,000" PRN Sole 0 0 0
Interpublic Group Cos. SBNTCV 1.8%04 460690AF7 "1,917" "1,680,000" PRN Sole 0 0 0
Intevac Inc. SBNTCV 6.5%04 461148AC2 426 "775,000" PRN Sole 0 0 0
Kellstrom SB NT CV 5.75%02 488035AC0 "9,371" "11,325,000" PRN Sole 0 0 0
Leasing Solutions Inc. SUBNTCV 6.875%03 522113AA7 844 "5,275,000" PRN Sole 0 0 0
Lennar Corportion SR DB CV ZERO 18 526057AA2 "15,004" "34,100,000" PRN Sole 0 0 0
Magna International Inc. SB DB CV 4.875%05 559222AG9 "36,934" "36,750,000" PRN Sole 0 0 0
Mail-Well Inc. SUBNTCONV 5%02 560321AD3 "5,831" "6,050,000" PRN Sole 0 0 0
Masotech Inc. SBDBCONV 4.5%03 574670AB1 "5,324" "6,825,000" PRN Sole 0 0 0
Meditrust SUB DEB CV 9%02 58501TAA6 250 "250,000" PRN Sole 0 0 0
Metamore Worldwide Inc. SBNTCV 2.94%04 59133PAA8 "3,491" "5,250,000" PRN Sole 0 0 0
NCS Healthcare Inc. SBDBCV 5.75%04 628874AC3 "7,110" "11,110,000" PRN Sole 0 0 0
"Network Associates, Inc." SB DB CV ZERO 18 640938AB2 "3,936" "10,840,000" PRN Sole 0 0 0
North American Vaccine SUBNTCV 6.5%03 657201AC3 "1,175" "2,840,000" PRN Sole 0 0 0
"Office Depot, Inc." LYON SUB ZERO 08 676220AB2 "6,169" "7,000,000" PRN Sole 0 0 0
Omnicare Inc. SUB DEB CV 5%07 681904AD0 "37,978" "46,670,000" PRN Sole 0 0 0
Pep Boys SUB LYON ZERO 11 713278AJ8 158 "300,000" PRN Sole 0 0 0
Personnel Group SBNTCV 5.75%04 715338AE9 "4,350" "5,800,000" PRN Sole 0 0 0
"Petsmart, Inc." SB NT CV 6.75%04 716768AB2 "7,566" "6,763,000" PRN Sole 0 0 0
Phoenix Investment Ptrs. SUB DB CONV 6%15 719085AA0 "17,264" "15,177,500" PRN Sole 0 0 0
Pier 1 Imports SB NT CV 5.75%03 720279AF5 "18,248" "15,885,000" PRN Sole 0 0 0
Pogo Producing Co. SUB NT CV 5.5%06 730448AE7 "1,143" "1,500,000" PRN Sole 0 0 0
Quadramed Corp. SBDBCV 5.25%05 74730WAC5 "8,626" "14,377,000" PRN Sole 0 0 0
Reptron Electronics Inc. SBNTCV 6.75%04 76026WAA7 251 "590,000" PRN Sole 0 0 0
Rouse Company SBDBCV 5.75%02 779273AA9 216 "225,000" PRN Sole 0 0 0
Sabrateck Crop. NT CV 6%05 78571UAA6 "1,550" "2,500,000" PRN Sole 0 0 0
Seacor Holdings Inc. SUBNTCV 5.375%06 811904AE1 "25,090" "24,719,000" PRN Sole 0 0 0
SpaceHab Inc. SUB NT CONV 8%07 846243AC7 196 "250,000" PRN Sole 0 0 0
Sun Co. Inc. SBDBCV 6.75%12 866762AG2 360 "335,000" PRN Sole 0 0 0
Sun Healthcare SDCV 144A 6%04 866933AA2 263 "1,500,000" PRN Sole 0 0 0
Sunbeam Corporation SRSDCVZRO 144A18 867071AA0 550 "5,000,000" PRN Sole 0 0 0
Synetic Inc. SUB DB CONV 5%07 87160FAB5 "6,113" "5,850,000" PRN Sole 0 0 0
Thermo Fibertek Inc. SUBDBCV 144A04 88355WAA3 "17,014" "20,017,000" PRN Sole 0 0 0
Thermo Instrument Sys SUBDBCONV 4%05 883559AE6 "2,677" "3,285,000" PRN Sole 0 0 0
Thermo Optek Inc. SBDBCV 144A5%00 883582AA6 "3,504" "3,650,000" PRN Sole 0 0 0
Total Renal Care Hldg SBNTCV 144A 7%09 89151AAA5 561 "750,000" PRN Sole 0 0 0
"Tower Automotive, Inc." SBNTCV 5%04 891707AE1 "7,900" "8,305,000" PRN Sole 0 0 0
Triac Companies SBDBCV ZERO 18 895918AB7 "13,208" "58,700,000" PRN Sole 0 0 0
U.S. Diagnostic Labs Inc. SUBDBCONV 9%03 90328QAB4 "1,704" "2,400,000" PRN Sole 0 0 0
U.S. Filter Corp. Sub NT CV 4.5%01 911843AF7 "21,178" "21,500,000" PRN Sole 0 0 0
Waste Management Inc. SUB NT CONV 4%02 94106LAA7 "10,771" "9,305,000" PRN Sole 0 0 0
Wind River Systems Inc. SUBNTCONV5%02 973149AC1 "1,647" "1,850,000" PRN Sole 0 0 0
World Access Inc. SBNTCV 4.5%02 98141AAC5 "1,375" "2,500,000" PRN Sole 0 0 0
Alliance Capital Mgmt LP Unit Ltd. Ptnr 018548107 886 "35,000" SH Sole "35,000" 0 0
Viacom Class E WT Exp 070799 925524134 314 "20,000" SH Sole 0 0 0
COLUMN TOTALS "520,419"
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