David Abrams Abrams Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SCU
Sculptor Capital Management, Inc. Class A Common Stock
SCU
|
+$59.9M |
| 2 |
DigitalBridge
DBRG
|
+$35.7M |
| 3 |
Barnes & Noble Education
BNED
|
+$91.1K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$135M |
| 2 |
INXN
Interxion Holding N.V.
INXN
|
+$81.2M |
| 3 |
OPB
Opus Bank Common Stock
OPB
|
+$19.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 53.1% |
| 2 | Technology | 13.31% |
| 3 | Industrials | 12.2% |
| 4 | Consumer Discretionary | 10.83% |
| 5 | Communication Services | 6.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Western Union
WU
$1.92B
| $414M | 21.65% |
21,608,707
| – | – |
2013 Q2
12 quarters
|
|
2
Franklin Templeton
BEN
$15.7B
| $265M | 13.85% |
7,945,023
| – | – |
2015 Q4
2 quarters
|
|
3
Microsoft
MSFT
$3.93T
| $255M | 13.31% |
4,980,000
| – | – |
2014 Q1
9 quarters
|
|
|
WBT
4
DELISTED
Welbilt, Inc.
WBT
| $198M | 10.36% |
11,255,323
| – | – |
2016 Q1
1 quarter
|
|
5
Wells Fargo
WFC
$252B
| $131M | 6.85% |
2,770,000
| – | – |
2013 Q4
10 quarters
|
|
|
BKS
6
DELISTED
Barnes & Noble
BKS
| $118M | 6.18% |
10,418,774
| – | – |
2014 Q1
9 quarters
|
|
|
7
DELISTED
DigitalBridge
DBRG
| $111M | 5.82% |
2,727,036
+750,000
| +38% | +$35.7M |
2016 Q1
1 quarter
|
|
|
8
Barnes & Noble Education
BNED
$449M
| $89M | 4.65% |
87,715
+96
| +0.1% | +$91.1K |
2015 Q3
3 quarters
|
|
9
VEON
VEON
$5.73B
| $72.8M | 3.8% |
750,838
| – | – |
2015 Q1
5 quarters
|
|
|
SCU
10
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $58.5M | 3.05% |
+1,538,427
| New | +$59.9M |
2016 Q2
0 quarters
|
|
|
KERX
11
DELISTED
Keryx Biopharmaceuticals Inc
KERX
| $37.9M | 1.98% |
5,719,176
| – | – |
2015 Q3
3 quarters
|
|
|
NRF
12
DELISTED
NorthStar Realty Finance Corp.
NRF
| $37.5M | 1.96% |
3,279,651
| – | – |
2016 Q1
1 quarter
|
|
|
OPB
13
DELISTED
Opus Bank Common Stock
OPB
| $35.6M | 1.86% |
1,052,433
-543,962
| -34% | -$19.3M |
2014 Q2
8 quarters
|
|
|
MGI
14
DELISTED
MoneyGram International, Inc. New
MGI
| $35.1M | 1.84% |
5,130,000
| – | – |
2014 Q4
6 quarters
|
|
|
ENT
15
DELISTED
Global Eagle Entertainment Inc.
ENT
| $33.2M | 1.73% |
200,000
| – | – |
2013 Q4
10 quarters
|
|
16
DELISTED
Clear Channel Outdoor Holdings
CCO
| $20.9M | 1.09% |
3,354,390
| – | – |
2013 Q2
12 quarters
|
|
17
Oxford Square Capital
OXSQ
$141M
| $311K | 0.02% |
59,105
| – | – |
2016 Q1
1 quarter
|
|
|
INXN
18
DELISTED
Interxion Holding N.V.
INXN
| – | – |
-2,347,788
| Closed | -$81.2M | – |
|
|
TWC
19
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| – | – |
-661,000
| Closed | -$135M | – |
|
Similar funds
David Abrams's Q2 2016 Portfolio in Review
As of Q2 2016, David Abrams held 19 positions worth $1.91B, down 9.6% from $2.12B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
David Abrams withdrew a net $140M in Q2 2016, closing 2 positions and reducing 1 holding. Its most notable exit was TIME WARNER CABLE INC NEW COM STK, an estimated $135M position sold in full.
By sector, the portfolio is most concentrated in Financials at 53% of assets, up from 47% a quarter earlier, followed by Technology and Industrials.
Against the trend, David Abrams opened a new position in Sculptor Capital Management, Inc. Class A Common Stock worth $58.5M.
- David Abrams's largest Q2 2016 buy was Sculptor Capital Management, Inc. Class A Common Stock: 1,538,427 shares worth $58.5M.
- David Abrams added most to DigitalBridge in Q2 2016, an estimated $35.7M increase.
- David Abrams's biggest Q2 2016 reduction was Opus Bank Common Stock, cutting an estimated $19.3M.
- David Abrams fully exited TIME WARNER CABLE INC NEW COM STK in Q2 2016, selling an estimated $135M.
- David Abrams's ten largest holdings make up 90% of its $1.91B portfolio in Q2 2016.
- David Abrams opened 1 new position and closed 2 in Q2 2016.
- David Abrams's portfolio value fell 9.6% quarter-over-quarter to $1.91B.
Based on Abrams Capital Management's 13F filing for Q2 2016, filed 12 Aug 2016.