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

3. Time Warner Inc (NYSE:TWX)

At the end of June, Abrams Capital held 3.05 million shares of Time Warner Inc (NYSE:TWX), worth $306.25 million. The fund initiated a stake in Time Warner during the fourth quarter of 2016, when the company announced that it had entered into a merger agreement with AT&T. Both companies are preparing to close the deal valued at $85 billion, which is currently in the final stages of the Department of Justice’s review. Aside from Abrams Capital, Thomas Steyer’s Farallon Capital holds 6.98 million shares of Time Warner Inc (NYSE:TWX), up by 24% over the quarter, while Nick Niell’s Arrowgrass Capital Partners almost doubled its stake to 4.50 million shares during the second quarter.

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