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David Abrams Abrams Capital Management

AUM $5.48B
1-Year Est. Return 3.63%
 

David Abrams is the founder of Abrams Capital Management, a Boston-based firm with a flexible value-oriented mandate. A former Baupost Group investor, he is known for concentrated positions and a willingness to hold cash or unconventional securities when public equities are unattractive. Abrams Capital’s filings are followed for high-conviction ideas across equities and special situations.

This Fund
S&P 500
This Quarter Est. Return
+6.28%
1 Year Est. Return
+3.63%
3 Year Est. Return
+81.6%
5 Year Est. Return
+124.91%
10 Year Est. Return
+488.27%
AUM
$1.27B
AUM Growth
-$8.16M
Cap. Flow
-$18.1M
Cap. Flow %
-1.42%
Top 10 Hldgs %
99.46%
Holding
14
New
3
Increased
–
Reduced
3
Closed
1

Top Buys

Rank Stock Value
1
WFC icon
Wells Fargo
WFC
+$120M
2
ENT
Global Eagle Entertainment Inc.
ENT
+$36.8M
3
JCP
J.C. Penney Company, Inc.
JCP
+$8.34M

Top Sells

Rank Stock Value
1
EGL
Engility Holdings, Inc.
EGL
+$76.2M
2
WAIR
WESCO Aircraft Holdings Inc.
WAIR
+$58.3M
3
MANT
Mantech International Corp
MANT
+$24.8M
4
GCVRZ
Sanofi Contingent Value Rights
GCVRZ
+$23.6M

Sector Composition

Rank Sector Weight
1 Financials 73.61%
2 Industrials 10.22%
3 Consumer Discretionary 9.4%
4 Communication Services 6.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WU icon
1
Western Union
WU
$2.28B
$300M 23.59%
17,362,477
– –
SLM icon
2
SLM Corp
SLM
$4.97B
$267M 21.04%
28,444,216
– –
AIG icon
3
American International
AIG
$39.8B
$242M 19.08%
4,745,040
– –
WAIR
4
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
$126M 9.95%
5,765,539
-2,918,673
-34% -$58.3M
WFC icon
5
Wells Fargo
WFC
$254B
$126M 9.9%
+2,770,000
New +$120M
CST
6
DELISTED
CST Brands, Inc.
CST
$110M 8.68%
3,000,000
– –
ENT
7
DELISTED
Global Eagle Entertainment Inc.
ENT
$44.6M 3.51%
+120,000
New +$36.8M
CCO icon
8
Clear Channel Outdoor Holdings
CCO
$1.21B
$34M 2.68%
3,354,390
– –
JCP
9
DELISTED
J.C. Penney Company, Inc.
JCP
$9.15M 0.72%
+1,000,000
New +$8.34M
GCVRZ
10
DELISTED
Sanofi Contingent Value Rights
GCVRZ
$3.96M 0.31%
11,658,873
-19,520,764
-63% -$23.6M
EGL
11
DELISTED
Engility Holdings, Inc.
EGL
$3.42M 0.27%
102,430
-2,425,048
-96% -$76.2M
RBS.PRR
12
DELISTED
Royal Bank of Scotland Group Plc (The) ADR repstg USD Pfd Sh
RBS.PRR
$2.3M 0.18%
115,305
– –
RBS.PRP
13
DELISTED
Royal Bank of Scotland Group Plc (The) ADR representing Pref
RBS.PRP
$1.16M 0.09%
57,380
– –
MANT
14
DELISTED
Mantech International Corp
MANT
– –
-860,920
Closed -$24.8M

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David Abrams's Q4 2013 Portfolio in Review

As of Q4 2013, David Abrams held 14 positions worth $1.27B, down 0.64% from $1.28B the previous quarter. Its ten largest holdings account for 99% of the portfolio.

David Abrams's Q4 2013 filing shows 3 new, 3 reduced and 1 closed positions. Its largest new stake was Wells Fargo: 2,770,000 shares worth $126M. The largest sale was Engility Holdings, Inc., an estimated $76.2M.

By sector, the portfolio is most concentrated in Financials at 74% of assets, up from 63% a quarter earlier, followed by Industrials and Consumer Discretionary.

  • David Abrams's largest Q4 2013 buy was Wells Fargo: 2,770,000 shares worth $126M.
  • David Abrams's biggest Q4 2013 reduction was Engility Holdings, Inc., cutting an estimated $76.2M.
  • David Abrams fully exited Mantech International Corp in Q4 2013, selling an estimated $24.8M.
  • David Abrams's ten largest holdings make up 99% of its $1.27B portfolio in Q4 2013.
  • David Abrams opened 3 new positions and closed 1 in Q4 2013.
  • David Abrams's portfolio value fell 0.64% quarter-over-quarter to $1.27B.

Based on Abrams Capital Management's 13F filing for Q4 2013, filed 13 Feb 2014.