A consortium of Abrams Capital Management vehicles and affiliated entities disclosed a collective acquisition of 1,758,794 shares of ContextLogic Holdings Inc (NASDAQ: LOGC) on February 26, 2026. The block was purchased at $7.00 per share, resulting in a cash outlay of $12,311,558, according to a Form 4 filing with the Securities and Exchange Commission.
After the transaction, the Abrams Funds - which comprise Abrams Capital Partners I, L.P., Abrams Capital Partners II, L.P., Riva Capital Partners V, L.P., and Riva Capital Partners VI, L.P. - hold a combined 18,269,534 shares of ContextLogic. The filing states that the purchase equates to approximately 5.7% of the company’s $215 million market capitalization. The company’s shares were reported to be trading at $7.98.
The regulatory filing also includes context about the management and organizational structure behind the investing vehicles. Abrams Capital, LLC serves as the general partner for Abrams Capital Partners I, L.P. and Abrams Capital Partners II, L.P. Riva Capital Management V, LLC is the general partner of Riva Capital Partners V, L.P., while Riva Capital Management VI, LLC is the general partner of Riva Capital Partners VI, L.P. Abrams Capital Management, L.P. acts as the investment manager for each of the Abrams Funds.
David C. Abrams is identified in the filing as the Managing Member of Abrams Capital, LLC; Abrams Capital Management, LLC; Riva Capital Management V, LLC; and Riva Capital Management VI, LLC. The Form 4 notes that each reporting person disclaims beneficial ownership of the reported shares except to the extent of its pecuniary interest.
The purchase was filed with the SEC as required. The timing of the trade is notable in that it occurred seven days before ContextLogic's next scheduled earnings report on March 6, 2026. The filing additionally references InvestingPro data, which characterizes LOGC's stock as relatively volatile, with a beta of 2.16. InvestingPro is also noted as offering six additional exclusive tips about LOGC for investors seeking more information.
This disclosure provides a clear record of the Abrams group increasing its exposure to ContextLogic through a sizeable cash investment disclosed in standard SEC filings and documents the ownership and management relationships among the reporting entities. Beyond the mechanics and timing of the trade, the filing reiterates the reporting persons' disclaimer regarding beneficial ownership, limiting the reported holdings to pecuniary interest only.