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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
-4.97%
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
$2.56B
AUM Growth
+$46.3M
Cap. Flow
+$116M
Cap. Flow %
4.51%
Top 10 Hldgs %
88.07%
Holding
23
New
4
Increased
1
Reduced
1
Closed
5

Top Buys

Rank Stock Value
1
TEVA icon
Teva Pharmaceuticals
TEVA
+$487M
2
ORLY icon
O'Reilly Automotive
ORLY
+$169M
3
ABG icon
Asbury Automotive
ABG
+$55.2M
4
GPI icon
Group 1 Automotive
GPI
+$15.4M
5
SPH icon
Suburban Propane Partners
SPH
+$7.17M

Top Sells

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$306M
2
WBT
Welbilt, Inc.
WBT
+$112M
3
CARS icon
Cars.com
CARS
+$66.6M
4
VEON icon
VEON
VEON
+$55M
5
DBRG icon
DigitalBridge
DBRG
+$50.9M

Sector Composition

Rank Sector Weight
1 Financials 49.9%
2 Healthcare 16.44%
3 Consumer Discretionary 12.5%
4 Technology 10.12%
5 Industrials 5.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WU icon
1
Western Union
WU
$2.28B
$415M 16.19%
21,608,707
– –
TEVA icon
2
Teva Pharmaceuticals
TEVA
$43.5B
$381M 14.85%
+21,623,886
New +$487M
BEN icon
3
Franklin Templeton, Inc.
BEN
$17.4B
$354M 13.8%
7,945,023
– –
AABA
4
DELISTED
Altaba Inc
AABA
$259M 10.12%
3,914,805
– –
WFC icon
5
Wells Fargo
WFC
$254B
$184M 7.19%
3,342,343
– –
ORLY icon
6
O'Reilly Automotive
ORLY
$72.1B
$184M 7.18%
+12,810,000
New +$169M
WTW icon
7
Willis Towers Watson
WTW
$31.8B
$182M 7.12%
1,183,287
– –
UHAL icon
8
U-Haul Holding Co
UHAL
$13.9B
$148M 5.77%
3,946,100
– –
QCP
9
DELISTED
Quality Care Properties, Inc.
QCP
$77.5M 3.03%
5,000,000
– –
SCU
10
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$71.6M 2.8%
2,223,859
– –
DBRG icon
11
DigitalBridge
DBRG
$2.95B
$71.5M 2.79%
1,422,653
-932,211
-40% -$50.9M
ABG icon
12
Asbury Automotive
ABG
$3.86B
$61.1M 2.38%
+1,000,000
New +$55.2M
BNED icon
13
Barnes & Noble Education
BNED
$418M
$57.1M 2.23%
87,715
– –
KERX
14
DELISTED
Keryx Biopharmaceuticals Inc
KERX
$40.6M 1.58%
5,719,176
– –
ENT
15
DELISTED
Global Eagle Entertainment Inc.
ENT
$23.9M 0.93%
280,000
– –
GPI icon
16
Group 1 Automotive
GPI
$3.12B
$18.1M 0.71%
+250,471
New +$15.4M
SPH icon
17
Suburban Propane Partners
SPH
$1.18B
$17.8M 0.69%
682,414
+293,445
+75% +$7.17M
CCO icon
18
Clear Channel Outdoor Holdings
CCO
$1.21B
$15.6M 0.61%
3,354,390
– –
CARS icon
19
Cars.com
CARS
$654M
– –
-2,500,000
Closed -$66.6M
VEON icon
20
VEON
VEON
$4.09B
– –
-562,219
Closed -$55M
WBT
21
DELISTED
Welbilt, Inc.
WBT
– –
-5,967,907
Closed -$112M
BKS
22
DELISTED
Barnes & Noble
BKS
– –
-3,508,735
Closed -$26.7M
TWX
23
DELISTED
Time Warner Inc
TWX
– –
-3,050,000
Closed -$306M

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David Abrams's Q3 2017 Portfolio in Review

As of Q3 2017, David Abrams held 23 positions worth $2.56B, up 1.8% from $2.52B the previous quarter. Its ten largest holdings account for 88% of the portfolio.

David Abrams deployed $116M of net new capital in Q3 2017, opening 4 new positions and adding to 1 existing holding. Its largest new stake was Teva Pharmaceuticals: 21,623,886 shares worth $381M.

By sector, the portfolio is most concentrated in Financials at 50% of assets, down from 52% a quarter earlier, followed by Healthcare and Consumer Discretionary.

On the sell side, the largest reduction was DigitalBridge, an estimated $50.9M trimmed.

  • David Abrams's largest Q3 2017 buy was Teva Pharmaceuticals: 21,623,886 shares worth $381M.
  • David Abrams added most to Suburban Propane Partners in Q3 2017, an estimated $7.17M increase.
  • David Abrams's biggest Q3 2017 reduction was DigitalBridge, cutting an estimated $50.9M.
  • David Abrams fully exited Time Warner Inc in Q3 2017, selling an estimated $306M.
  • David Abrams's ten largest holdings make up 88% of its $2.56B portfolio in Q3 2017.
  • David Abrams opened 4 new positions and closed 5 in Q3 2017.
  • David Abrams's portfolio value rose 1.8% quarter-over-quarter to $2.56B.

Based on Abrams Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.