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Och-Ziff Capital Management Group Llc (OZM): Abrams Capital Management Raises Stake

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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.

David Abrams

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.

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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