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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
+10.8%
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
$2.72B
AUM Growth
+$709M
Cap. Flow
+$501M
Cap. Flow %
18.39%
Top 10 Hldgs %
84.94%
Holding
21
New
5
Increased
2
Reduced
–
Closed
2

Top Buys

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$272M
2
WTW icon
Willis Towers Watson
WTW
+$148M
3
QCP
Quality Care Properties, Inc.
QCP
+$66.8M
4
UHAL icon
U-Haul Holding Co
UHAL
+$35.3M
5
WFC icon
Wells Fargo
WFC
+$28.8M

Top Sells

Rank Stock Value
1
NRF
NorthStar Realty Finance Corp.
NRF
+$43.2M
2
OPB
Opus Bank Common Stock
OPB
+$37.2M

Sector Composition

Rank Sector Weight
1 Financials 49.12%
2 Communication Services 15.27%
3 Industrials 11.61%
4 Technology 11.36%
5 Consumer Discretionary 7.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WU icon
1
Western Union
WU
$2.28B
$469M 17.23%
21,608,707
– –
BEN icon
2
Franklin Templeton, Inc.
BEN
$17.4B
$314M 11.54%
7,945,023
– –
MSFT icon
3
Microsoft
MSFT
$3.59T
$309M 11.36%
4,980,000
– –
TWX
4
DELISTED
Time Warner Inc
TWX
$294M 10.81%
+3,050,000
New +$272M
WBT
5
DELISTED
Welbilt, Inc.
WBT
$218M 7.99%
11,255,323
– –
WFC icon
6
Wells Fargo
WFC
$254B
$184M 6.76%
3,342,343
+572,343
+21% +$28.8M
DBRG icon
7
DigitalBridge
DBRG
$2.95B
$163M 5.97%
2,727,036
– –
WTW icon
8
Willis Towers Watson
WTW
$31.8B
$145M 5.31%
+1,183,287
New +$148M
BKS
9
DELISTED
Barnes & Noble
BKS
$116M 4.26%
10,418,775
– –
BNED icon
10
Barnes & Noble Education
BNED
$418M
$101M 3.69%
87,715
– –
VEON icon
11
VEON
VEON
$4.09B
$72.3M 2.65%
750,838
– –
QCP
12
DELISTED
Quality Care Properties, Inc.
QCP
$69.1M 2.54%
+4,459,185
New +$66.8M
SCU
13
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$62.7M 2.3%
1,894,999
+190,934
+11% +$6.09M
MGI
14
DELISTED
MoneyGram International, Inc. New
MGI
$60.6M 2.22%
5,130,000
– –
UHAL icon
15
U-Haul Holding Co
UHAL
$13.9B
$38M 1.4%
+1,028,600
New +$35.3M
KERX
16
DELISTED
Keryx Biopharmaceuticals Inc
KERX
$33.5M 1.23%
5,719,176
– –
ENT
17
DELISTED
Global Eagle Entertainment Inc.
ENT
$32.3M 1.19%
200,000
– –
SYT
18
DELISTED
Syngenta Ag
SYT
$24.9M 0.91%
+315,024
New +$25.4M
CCO icon
19
Clear Channel Outdoor Holdings
CCO
$1.21B
$16.9M 0.62%
3,354,390
– –
OPB
20
DELISTED
Opus Bank Common Stock
OPB
– –
-1,052,433
Closed -$37.2M
NRF
21
DELISTED
NorthStar Realty Finance Corp.
NRF
– –
-3,279,651
Closed -$43.2M

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David Abrams's Q4 2016 Portfolio in Review

As of Q4 2016, David Abrams held 21 positions worth $2.72B, up 35% from $2.01B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

David Abrams deployed $501M of net new capital in Q4 2016, opening 5 new positions and adding to 2 existing holdings. Its largest new stake was Time Warner Inc: 3,050,000 shares worth $294M.

By sector, the portfolio is most concentrated in Financials at 49% of assets, down from 55% a quarter earlier, followed by Communication Services and Industrials.

On the sell side, the most notable exit was NorthStar Realty Finance Corp., an estimated $43.2M sold.

  • David Abrams's largest Q4 2016 buy was Time Warner Inc: 3,050,000 shares worth $294M.
  • David Abrams added most to Wells Fargo in Q4 2016, an estimated $28.8M increase.
  • David Abrams fully exited NorthStar Realty Finance Corp. in Q4 2016, selling an estimated $43.2M.
  • David Abrams's ten largest holdings make up 85% of its $2.72B portfolio in Q4 2016.
  • David Abrams opened 5 new positions and closed 2 in Q4 2016.
  • David Abrams's portfolio value rose 35% quarter-over-quarter to $2.72B.

Based on Abrams Capital Management's 13F filing for Q4 2016, filed 10 Feb 2017.