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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
+5.54%
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
$2.12B
AUM Growth
+$288M
Cap. Flow
+$189M
Cap. Flow %
8.95%
Top 10 Hldgs %
86.11%
Holding
20
New
4
Increased
5
Reduced
–
Closed
2

Top Buys

Rank Stock Value
1
WBT
Welbilt, Inc.
WBT
+$164M
2
BEN icon
Franklin Templeton, Inc.
BEN
+$94.5M
3
DBRG icon
DigitalBridge
DBRG
+$87.3M
4
NRF
NorthStar Realty Finance Corp.
NRF
+$40.2M
5
BKS
Barnes & Noble
BKS
+$29.4M

Top Sells

Rank Stock Value
1
CNL
CLECO CRP (HOLDING CO)
CNL
+$123M
2
MTW icon
Manitowoc
MTW
+$111M

Sector Composition

Rank Sector Weight
1 Financials 47.49%
2 Communication Services 16.76%
3 Technology 12.99%
4 Consumer Discretionary 10.14%
5 Industrials 9.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WU icon
1
Western Union
WU
$2.28B
$417M 19.69%
21,608,707
– –
BEN icon
2
Franklin Templeton, Inc.
BEN
$17.4B
$310M 14.66%
7,945,023
+2,669,361
+51% +$94.5M
MSFT icon
3
Microsoft
MSFT
$3.59T
$275M 12.99%
4,980,000
– –
WBT
4
DELISTED
Welbilt, Inc.
WBT
$166M 7.84%
+11,255,323
New +$164M
TWC
5
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$135M 6.39%
661,000
– –
WFC icon
6
Wells Fargo
WFC
$254B
$134M 6.33%
2,770,000
– –
BKS
7
DELISTED
Barnes & Noble
BKS
$129M 6.08%
10,418,774
+3,000,000
+40% +$29.4M
DBRG icon
8
DigitalBridge
DBRG
$2.95B
$89.8M 4.24%
+1,977,036
New +$87.3M
BNED icon
9
Barnes & Noble Education
BNED
$418M
$85.9M 4.06%
87,619
+5,411
+7% +$5.42M
INXN
10
DELISTED
Interxion Holding N.V.
INXN
$81.2M 3.84%
2,347,788
– –
VEON icon
11
VEON
VEON
$4.09B
$80M 3.78%
750,838
+22,838
+3% +$2.02M
OPB
12
DELISTED
Opus Bank Common Stock
OPB
$54.3M 2.56%
1,596,395
– –
NRF
13
DELISTED
NorthStar Realty Finance Corp.
NRF
$43M 2.03%
+3,279,651
New +$40.2M
ENT
14
DELISTED
Global Eagle Entertainment Inc.
ENT
$42.6M 2.01%
200,000
– –
MGI
15
DELISTED
MoneyGram International, Inc. New
MGI
$31.4M 1.48%
5,130,000
– –
KERX
16
DELISTED
Keryx Biopharmaceuticals Inc
KERX
$26.7M 1.26%
5,719,176
+219,176
+4% +$875K
CCO icon
17
Clear Channel Outdoor Holdings
CCO
$1.21B
$15.8M 0.74%
3,354,390
– –
OXSQ icon
18
Oxford Square Capital
OXSQ
$152M
$284K 0.01%
+59,105
New +$297K
MTW icon
19
Manitowoc
MTW
$710M
– –
-7,976,773
Closed -$111M
CNL
20
DELISTED
CLECO CRP (HOLDING CO)
CNL
– –
-2,362,366
Closed -$123M

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David Abrams's Q1 2016 Portfolio in Review

As of Q1 2016, David Abrams held 20 positions worth $2.12B, up 16% from $1.83B the previous quarter. Its ten largest holdings account for 86% of the portfolio.

David Abrams deployed $189M of net new capital in Q1 2016, opening 4 new positions and adding to 5 existing holdings. Its largest new stake was Welbilt, Inc.: 11,255,323 shares worth $166M.

By sector, the portfolio is most concentrated in Financials at 47% of assets, up from 43% a quarter earlier, followed by Communication Services and Technology.

On the sell side, the most notable exit was CLECO CRP (HOLDING CO), an estimated $123M sold.

  • David Abrams's largest Q1 2016 buy was Welbilt, Inc.: 11,255,323 shares worth $166M.
  • David Abrams added most to Franklin Templeton, Inc. in Q1 2016, an estimated $94.5M increase.
  • David Abrams fully exited CLECO CRP (HOLDING CO) in Q1 2016, selling an estimated $123M.
  • David Abrams's ten largest holdings make up 86% of its $2.12B portfolio in Q1 2016.
  • David Abrams opened 4 new positions and closed 2 in Q1 2016.
  • David Abrams's portfolio value rose 16% quarter-over-quarter to $2.12B.

Based on Abrams Capital Management's 13F filing for Q1 2016, filed 13 May 2016.