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

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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.David Abrams

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.

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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

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Abrams Capital 0 10,309,545 0 10,309,545 10,309,545 5.16%

David Abrams
David Abrams
Abrams Capital Management

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. )*
Northstar Asset Management Group Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
66705Y104
(CUSIP Number)
June 24, 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).

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