Billionaire David Abrams‘ Abrams Capital Management reported raising its stake in Och-Ziff Capital Management Group Llc (NYSE:OZM) via an amended 13G filing with the Securities and Exchange Commission. Now, the fund’s stake counts 18.2 million Class A shares, which account for 10.02% of the float, while previously its stake contained 17.04 million Class A shares, as per its 13F filing for the end of September.
Och-Ziff Capital Management Group Llc (NYSE:OZM) is a company that offers professional asset management services. Since the beginning of the year, the company’s stock has dropped by 48.64%. In its financial report for the third quarter of 2016, the company revealed revenue of $148.11 million and diluted earnings per share of $0.05 for the period, compared to revenue of $325.9 million and diluted earnings per share of $0.06, for the corresponding quarter of 2015.
According to Insider Monkey’s hedge fund database, 17 investors were bullish on Och-Ziff Capital Management Group Llc (NYSE:OZM) at the end of September, up by one from the end of June. The second-largest shareholder after Abrams Capital Management was John Griffin’s Blue Ridge Capital, which held a $38.4 million position. Similar hedge funds and institutional investors that were bullish encompassed Crispin Odey’s Odey Asset Management Group, Thomas Ellis and Todd Hammer’s North Run Capital, and Brian Gaines’ Springhouse Capital Management.
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Among the new investors in Och-Ziff Capital Management Group during the third quarter were North Run Capital, which held a $15.2 million investment in the stock on September 30, Michael Hintze’s CQS Cayman LP, which acquired a $0.7 million position, Mario Gabelli’s GAMCO Investors, Ken Griffin’s Citadel Investment Group, and Matthew Hulsizer’s PEAK6 Capital Management.
You can access the original SEC filing by clicking here.
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Page 1 of 4 – SEC Filing
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | ||
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
| Och-Ziff Capital Management Group LLC |
(Name of Issuer)
| Class A Shares, no par value |
(Title of Class of Securities)
| 67551U105 |
(CUSIP Number)
| December 22, 2016 |
| (Date of Event which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. Beneficial ownership information contained herein is given as of the date listed above.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Beneficial ownership information contained herein is given as of the date listed above.
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Page 2 of 4 – SEC Filing
| 1 | Names of Reporting Persons. Abrams Capital Partners II, L.P. Abrams Capital, LLC Abrams Capital Management, LLC Abrams Capital Management, L.P. David Abrams |
| 2 | Check the Appropriate Box if a Member of a Group (See Instructions) |
| (a) [ ] | |
| (b) [ ] | |
| 3 | SEC Use Only |
| 4 | Citizenship or Place of Organization. Abrams Capital Partners II, L.P. – Delaware Abrams Capital, LLC – Delaware Abrams Capital Management, LLC – Delaware Abrams Capital Management, L.P. – Delaware David Abrams – United States |
| Number of Shares Beneficially Owned by Each Reporting Person With | 5 Sole Voting Power Abrams Capital Partners II, L.P. – 0 shares Abrams Capital, LLC – 0 shares Abrams Capital Management, LLC – 0 shares Abrams Capital Management, L.P. – 0 shares David Abrams – 0 shares |
| 6 Shared Voting Power Abrams Capital Partners II, L.P. – 15,480,504 shares Abrams Capital, LLC – 18,201,685 shares Abrams Capital Management, LLC – 18,201,685 shares Abrams Capital Management, L.P. – 18,201,685 shares David Abrams – 18,201,685 shares Refer to Item 4 below. | |
| 7 Sole Dispositive Power Abrams Capital Partners II, L.P. – 0 shares Abrams Capital, LLC – 0 shares Abrams Capital Management, LLC – 0 shares Abrams Capital Management, L.P. – 0 shares David Abrams – 0 shares | |
| 8 Shared Dispositive Power Abrams Capital Partners II, L.P. – 15,480,504 shares Abrams Capital, LLC – 18,201,685 shares Abrams Capital Management, LLC – 18,201,685 shares Abrams Capital Management, L.P. – 18,201,685 shares David Abrams – 18,201,685 shares Refer to Item 4 below. |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person Abrams Capital Partners II, L.P. – 15,480,504 shares Abrams Capital, LLC – 18,201,685 shares Abrams Capital Management, LLC – 18,201,685 shares Abrams Capital Management, L.P. – 18,201,685 shares David Abrams – 18,201,685 shares Refer to Item 4 below. |
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11 | Percent of Class Represented by Amount in Row (9) Abrams Capital Partners II, L.P. – 8.52% Abrams Capital, LLC – 10.02% Abrams Capital Management, LLC – 10.02% Abrams Capital Management, L.P. – 10.02% David Abrams – 10.02% Refer to Item 4 below. |
| 12 | Type of Reporting Person (See Instructions) Abrams Capital Partners II, L.P. – OO (Limited Partnership) Abrams Capital, LLC – OO (Limited Liability Company) Abrams Capital Management, LLC – OO (Limited Liability Company) Abrams Capital Management, L.P. – OO (Limited Partnership) David Abrams – IN |
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Page 3 of 4 – SEC Filing
SCHEDULE 13G
| Item 1 |
| (a) | Name of Issuer |
| Och-Ziff Capital Management Group LLC | |
| (b) | Address of Issuer’s Principal Executive Offices |
| 9 West 57th Street, New York, New York 10019 |
| Item 2 |
| (a) | Name of Person Filing |
| Abrams Capital Partners II, L.P. Abrams Capital, LLC Abrams Capital Management, LLC Abrams Capital Management, L.P. David Abrams | |
| (b) | Address of Principal Business Office or, if none, Residence |
| Abrams Capital Partners II, L.P. Abrams Capital, LLC Abrams Capital Management, LLC Abrams Capital Management, L.P. David Abrams c/o Abrams Capital Management, L.P. 222 Berkeley Street, 21st Floor Boston, MA 02116 | |
| (c) | Citizenship |
| Abrams Capital Partners II, L.P. – Delaware Abrams Capital, LLC – Delaware Abrams Capital Management, LLC – Delaware Abrams Capital Management, L.P. – Delaware David Abrams – United States | |
| (d) | Title of Class of Securities |
| Class A Shares, no par value | |
| (e) | CUSIP Number |
| 67551U105 |
| Item 3 | If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) | [ ] | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); |
| (b) | [ ] | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); |
| (c) | [ ] | Insurance Company as defined in Section 3(a)(19) of the Act; |
| (d) | [ ] | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); |
| (e) | [ ] | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); |
| (f) | [ ] | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); |
| (g) | [ ] | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); |
| (h) | [ ] | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
| (i) | [ ] | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
| (j) | [ ] | A non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J); |
| (k) | [ ] | Group, in accordance with §240.13d-1(b)(1)(ii)(K). |
If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
| Item 4 | Ownership |
The percentages reported herein are calculated based upon the statement in the Issuer’s Quarterly Report on Form 10-Q, as filed with the SEC on November 2, 2016, that there were 181,706,272 Class A Shares of the Issuer outstanding as of October 28, 2016.
| Item 4(a) | Amount Beneficially Owned** |
| Abrams Capital Partners II, L.P. – 15,480,504 shares Abrams Capital, LLC – 18,201,685 shares Abrams Capital Management, LLC – 18,201,685 shares Abrams Capital Management, L.P. – 18,201,685 shares David Abrams – 18,201,685 shares |
| Item 4(b) | Percent of Class |
| Abrams Capital Partners II, L.P. – 8.52% Abrams Capital, LLC – 10.02% Abrams Capital Management, LLC – 10.02% Abrams Capital Management, L.P. – 10.02% David Abrams – 10.02% |
| Item 4(c) | Number of shares as to which each such person has voting and dispositive power: |
| (i) | Abrams Capital Partners II, L.P. – 0 shares Abrams Capital, LLC – 0 shares Abrams Capital Management, LLC – 0 shares Abrams Capital Management, L.P. – 0 shares David Abrams – 0 shares |
| (ii) | shared power to vote or to direct the vote |
| Abrams Capital Partners II, L.P. – 15,480,504 shares Abrams Capital, LLC – 18,201,685 shares Abrams Capital Management, LLC – 18,201,685 shares Abrams Capital Management, L.P. – 18,201,685 shares David Abrams – 18,201,685 shares | |
| (iii) | sole power to dispose or to direct the disposition of |
| Abrams Capital Partners II, L.P. – 0 shares Abrams Capital, LLC – 0 shares Abrams Capital Management, LLC – 0 shares Abrams Capital Management, L.P. – 0 shares David Abrams – 0 shares | |
| (iv) | shared power to dispose or to direct the disposition of |
| Abrams Capital Partners II, L.P. – 15,480,504 shares Abrams Capital, LLC – 18,201,685 shares Abrams Capital Management, LLC – 18,201,685 shares Abrams Capital Management, L.P. – 18,201,685 shares David Abrams – 18,201,685 shares |
** Shares reported herein for Abrams Capital Partners II, L.P. (“ACP II”) represent shares beneficially owned by ACP II. Shares reported herein for Abrams Capital, LLC (“Abrams Capital”) and Abrams Capital Management, L.P. (“Abrams CM LP”) represent shares beneficially owned by ACP II and other private investment funds for which Abrams Capital serves as general partner and Abrams CM LP serves as investment manager. Shares reported herein for Abrams Capital Management, LLC (“Abrams CM LLC”) represent the above-referenced shares beneficially owned by Abrams CM LP. Abrams CM LLC is the general partner of Abrams CM LP. Shares reported herein for Mr. Abrams represent the above referenced shares reported for Abrams Capital and Abrams CM LLC. Mr. Abrams is the managing member of Abrams Capital and Abrams CM LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.
| Item 5 | Ownership of Five Percent or Less of a Class |
| Not applicable. | |
| Item 6 | Ownership of More than Five Percent on Behalf of Another Person |
| Not applicable. | |
| Item 7 | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company |
| Not applicable. | |
| Item 8 | Identification and Classification of Members of the Group |
| Not applicable. | |
| Item 9 | Notice of Dissolution of Group |
| Not applicable. | |
| Item 10 | Certification |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
| Exhibits | Exhibit |
| 99.1 | Joint Filing Agreement by and among the Reporting Persons, incorporated by reference to Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on May 20, 2016. |
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Page 4 of 4 – SEC Filing
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: December 27, 2016
| ABRAMS CAPITAL PARTNERS II, L.P. | |
| By: Abrams Capital, LLC | |
| its General Partner | |
| By: /s/ David Abrams | |
| David Abrams, Managing Member | |
| ABRAMS CAPITAL, LLC | |
| By: /s/ David Abrams | |
| David Abrams, Managing Member | |
| ABRAMS CAPITAL MANAGEMENT, L.P. | |
| By: Abrams Capital Management, LLC, | |
| its General Partner | |
| By: /s/ David Abrams | |
| David Abrams, Managing Member | |
| ABRAMS CAPITAL MANAGEMENT, LLC | |
| By: /s/ David Abrams | |
| David Abrams, Managing Member | |
| DAVID ABRAMS | |
| By: /s/ David Abrams | |
| David Abrams, Individually |
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