Northstar Asset Management Group Inc. (NSAM): Billionaire David Abrams’ Abrams Capital Management Ups Its Stake

According to a recent 13G filing with the US Securities and Exchange Commission, billionaire David Abrams‘ Abrams Capital Management has increased its stake in Northstar Asset Management Group Inc. (NYSE:NSAM) to 10.31 million common shares, which amass 5.45% of the company’s outstanding stock. Previously, the fund held 7.91 million shares of Northstar Asset Management Group (NYSE:NSAM), as reported in its latest 13F filing, for the end of March.

NorthStar Asset Management Group, as the name denotes, is an asset management company, that offers professional services in the area of real estate and other investment platforms. At the beginning of June, the company announced a merger with Colony Capital Inc (NYSE:CLNY) and Northstar Realty Finance Corp (NYSE:NRF) to form Colony Northstar, a bigger and more diversified investment management and real estate platform. The deal is expected to close in the first quarter of 2017. Over the last 12 months, NorthStar Asset Management Group’s stock is down by 46.11%. For the first quarter of 2016, the company reported earnings per share of $0.09 and revenue of $106.43 million, which compares to earnings per share of $0.11 and revenue of $91.70 million for the same quarter of the previous year.

As per our database, there were 53 investors long Northstar Asset Management Group (NYSE:NSAM) at the end of March. Among them, the largest position was held by Marc Lisker, Glenn Fuhrman and John Phelan’s MSDC Management, worth close to $145 million, while the second-most valuable position was disclosed by Abrams Capital Management. Remaining investors with similar optimism encompass Robert Pohly’s Samlyn Capital and Phill Gross and Robert Atchinson’s Adage Capital Management.

Among the biggest new investors in the company in the first quarter were Thomas Ellis and Todd Hammer’s North Run Capital, which initiated a position worth $24.1 million. Some other investment firms which added Northstar Asset Management Group (NYSE:NSAM) to their portfolios during the quarter were Malcolm Fairbairn’s Ascend Capital, John Lykouretzos’ Hoplite Capital Management, and Michael Kaine’s Numina Capital.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Page 1 of 4 – SEC Filing