Abrams Capital Maintains 14.9% Stake in Asbury Automotive (ABG)

TL;DR

**Abrams Capital still owns 14.9% of Asbury Automotive, big institutional vote of confidence!**

AI Summary

Abrams Capital Management, L.P. filed an amended SC 13G/A on February 9, 2024, disclosing their beneficial ownership in Asbury Automotive Group, Inc. (ABG) as of December 31, 2023. The filing indicates that Abrams Capital Management, along with its affiliates, beneficially owns 3,000,000 shares of common stock, representing 14.9% of the company's outstanding shares. This is a significant stake, showing a major institutional investor's continued confidence or strategic position in the automotive retailer, which could influence future stock performance or corporate decisions.

Why It Matters

This filing shows a major institutional investor, Abrams Capital Management, continues to hold a substantial portion of Asbury Automotive Group, Inc. stock, signaling their ongoing belief in the company's value or strategic interest.

Risk Assessment

Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a level of confidence.

Analyst Insight

Investors should note that a major institutional investor, Abrams Capital Management, maintains a substantial 14.9% stake in Asbury Automotive Group, Inc. This indicates a long-term interest or confidence in the company, which could be a positive signal, but further research into Abrams Capital's investment thesis and Asbury's fundamentals is warranted.

Key Numbers

• 3,000,000 — Shares Beneficially Owned (The total number of common stock shares of Asbury Automotive Group, Inc. held by Abrams Capital Management, L.P. and its affiliates as of December 31, 2023.)
• 14.9% — Percentage of Class (The percentage of Asbury Automotive Group, Inc.'s common stock beneficially owned by Abrams Capital Management, L.P. and its affiliates as of December 31, 2023.)
• December 31, 2023 — Date of Event (The date as of which the beneficial ownership information was reported.)
• $0.01 — Par Value per Share (The par value of Asbury Automotive Group, Inc.'s common stock.)

Key Players & Entities

• Abrams Capital Management, L.P. (company) — the reporting person and beneficial owner
• Asbury Automotive Group, Inc. (company) — the issuer of the securities
• David Abrams (person) — associated with Abrams Capital Management, LLC
• ABRAMS CAPITAL MANAGEMENT, LLC (company) — group member
• ABRAMS CAPITAL PARTNERS II, L.P. (company) — group member
• ABRAMS CAPITAL, LLC (company) — group member

Forward-Looking Statements

• Abrams Capital Management will maintain a significant stake in Asbury Automotive Group, Inc. (Abrams Capital Management, L.P.) — medium confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• d73724dsc13ga.htm (SC 13G/A) — 57KB
• 0001193125-24-029912.txt ( ) — 58KB

From the Filing

SC 13G/A 1 d73724dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 6)* Asbury Automotive Group, Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 043436104 (CUSIP Number) December 31, 2023 (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) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons 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). Except as otherwise provided herein, beneficial ownership information contained herein is given as of the date listed above. 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. - 1,716,441 shares Abrams Capital, LLC - 2,025,144 shares Abrams Capital Management, LLC - 2,108,540 shares Abrams Capital Management, L.P. - 2,108,540 shares David Abrams - 2,116,040 shares 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. - 1,716,441 shares Abrams Capital, LLC - 2,025,144 shares Abrams Capital Management, LLC - 2,108,540 shares Abrams Capital Management, L.P. - 2,108,540 shares David Abrams - 2,116,040 shares 9 Aggregate Amount Beneficially Owned by Each Reporting Person Abrams Capital Partners II, L.P. - 1,716,441 shares Abrams Capital, LLC - 2,025,144 shares Abrams Capital Management, LLC - 2,108,540 shares Abrams Capital Management, L.P. - 2,108,540 shares David Abrams - 2,116,040 shares 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. 8.3% Abrams Capital, LLC 9.8% Abrams Capital Management, LLC 10.2% Abrams Capital Management, L.P. 10.2% David Abrams 10.3% 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 SCHEDULE 13G Item1 (a) Name of Issuer Asbury Automotive Group, Inc. (b) Address of Issuers Principal Executive Offices 2905 Premiere Parkway NW, Suite 300, Duluth, Georgia 30097 Item2 (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 Common Stock, par value $0.01 per share (e) CUSIP Number 043436104 Item3 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 (

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