Abrams Capital: Drew Pluhar, Travis Rhodes and Billionaire David Abrams’ Picks

4. Altaba Inc (NASDAQ:AABA)

In Altaba Inc (NASDAQ:AABA), Abrams Capital disclosed a new stake containing 3.91 million shares valued at $213.28 million. The fund added Altaba Inc (NASDAQ:AABA) to its equity portfolio as the company, formerly known as Yahoo, started trading following the acquisition of Yahoo’s core business by Verizon Communications Inc. (NYSE:VZ). Altaba Inc (NASDAQ:AABA)’s main assets include a 15.5% stake in Alibaba Group Holding Ltd. (NYSE:BABA) and a 35.5% holding in Yahoo Japan. Since it was renamed, Altaba Inc (NASDAQ:AABA) started a capital return plan and authorized a $5.0 billion buyback in July, after having announced a $3.4 buyback in June. One of the largest shareholders of Altaba Inc (NASDAQ:AABA) is Canyon Capital Advisors, led by Joshua Friedman and Mitchell Julis, which owns 50.53 million shares as of the end of June.

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