Abrams Capital funds boost ContextLogic (LOGC) stake with 1.76M-share open-market buy

Rhea-AI Filing Summary

ContextLogic Holdings Inc. (LOGC) saw a large open‑market purchase by funds managed by Abrams Capital. On February 26, 2026, the Abrams group reported buying 1,758,794 shares of common stock at $7.00 per share, through entities that report indirect ownership.

After this transaction, the Abrams‑affiliated funds together report beneficial ownership of 18,269,534 shares, including 578,862 shares held by Abrams Capital Partners I, L.P., 7,897,244 shares held by Abrams Capital Partners II, L.P., 5,262,976 shares held by Riva Capital Partners V, L.P. and 4,530,452 shares held by Riva Capital Partners VI, L.P. Each reporting person disclaims beneficial ownership beyond its pecuniary interest.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ABRAMS CAPITAL MANAGEMENT, L.P.

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ContextLogic Holdings Inc. [ LOGC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.0001 per share	02/26/2026		P		1,758,794	A	$7	18,269,534	I	See footnotes(1)(2)(3)(4)(5)(6)(7)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

ABRAMS CAPITAL MANAGEMENT, L.P.

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

ABRAMS CAPITAL MANAGEMENT, LLC

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

ABRAMS CAPITAL, LLC

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Abrams Capital Partners I, L.P.

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Abrams Capital Partners II, L.P.

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Riva Capital Management V, LLC

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Riva Capital Partners V, L.P.

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Riva Capital Management VI, LLC

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Riva Capital Partners VI, L.P.

(Last) (First) (Middle)

222 BERKELEY STREET, 21ST FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Shares reported herein as beneficially owned represent 578,862 shares held by Abrams Capital Partners I, L.P. ("ACP I"), 7,897,244 shares held by Abrams Capital Partners II, L.P. ("ACP II"), 5,262,976 shares held by Riva Capital Partners V, L.P. ("Riva V") and 4,530,452 shares held by Riva Capital Partners VI, L.P. ("Riva VI", and, together with ACP I, ACP II and Riva V, collectively the "Abrams Funds"). Of the shares purchased on February 26, 2026 reported herein, 120,126 shares were purchased by ACP I and 1,638,668 shares were purchased by ACP II.

2. Abrams Capital, LLC ("AC LLC") is the general partner of ACP I and ACP II. As a result, AC LLC may be deemed to share voting and dispositive power with respect to the shares held by ACP I and ACP II.

3. Riva Capital Management V, LLC ("RCM V") is the general partner of Riva V. As a result, RCM V may be deemed to share voting and dispositive power with respect to the shares held by Riva V.

4. Riva Capital Management VI, LLC ("RCM VI") is the general partner of Riva VI. As a result, RCM VI may be deemed to share voting and dispositive power with respect to the shares held by Riva VI.

5. Abrams Capital Management, L.P. (the "LP") is the investment manager of each of the Abrams Funds and, in such capacity, manages the investment strategy and decision-making process with respect to investments held by the Abrams Funds. As a result, the LP may be deemed to share voting and dispositive power with respect to the shares held by the Abrams Funds.

6. Abrams Capital Management, LLC (the "LLC") is the general partner of the LP. As a result, the LLC may be deemed to share voting and dispositive power with respect to the shares held by the Abrams Funds.

7. Each reporting person disclaims beneficial ownership of the reported shares except to the extent of its pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.

	Abrams Capital Management, L.P., by Abrams Capital Management, LLC, its General Partner, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Abrams Capital Management, LLC, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Abrams Capital, LLC, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Abrams Capital Partners I, L.P., by Abrams Capital, LLC, its General Partner, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Abrams Capital Partners II, L.P., by Abrams Capital, LLC, its General Partner, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Riva Capital Management V, LLC, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Riva Capital Partners V, L.P., by Riva Capital Management V, LLC, its General Partner, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Riva Capital Management VI, LLC, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	Riva Capital Partners VI, L.P., by Riva Capital Management VI, LLC, its General Partner, by David C. Abrams, Managing Member /s/ David Abrams	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Abrams Capital entities report in the latest LOGC Form 4 filing?

Abrams-managed funds reported an open-market purchase of 1,758,794 ContextLogic (LOGC) shares. The transaction reflects indirect ownership through multiple limited partnerships and management entities that collectively hold a significant stake in the company after this trade.

How many ContextLogic (LOGC) shares do Abrams-related funds own after this transaction?

After the reported trade, Abrams-affiliated funds report owning 18,269,534 LOGC common shares. These are spread across Abrams Capital Partners I and II and Riva Capital Partners V and VI, with each reporting person disclaiming beneficial ownership beyond its pecuniary interest.

At what price did Abrams-related funds buy the new LOGC shares?

The Abrams-managed funds purchased 1,758,794 ContextLogic shares at $7.00 per share in an open-market transaction. This price applies to the entire reported block acquired on February 26, 2026, according to the Form 4 transaction details.

Which Abrams funds bought ContextLogic (LOGC) shares in this Form 4?

The filing states that, of the shares bought on February 26, 2026, 120,126 were purchased by Abrams Capital Partners I, L.P. and 1,638,668 were purchased by Abrams Capital Partners II, L.P., both managed within the broader Abrams fund complex.

Is the Abrams Capital LOGC position held directly or indirectly?

The LOGC position is reported as indirectly owned through several funds and management entities. Limited partnerships hold the shares, while general partners and investment managers may share voting and dispositive power, subject to each party’s pecuniary interest and explicit beneficial ownership disclaimers.

Do Abrams Capital entities claim full beneficial ownership of all LOGC shares reported?

No. Each reporting person disclaims beneficial ownership of the ContextLogic shares beyond its pecuniary interest. The Form 4 notes that including the securities in the report does not constitute an admission of beneficial ownership under Section 16 or for any other purpose.