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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
-1.38%
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
$2.97B
AUM Growth
+$408M
Cap. Flow
+$439M
Cap. Flow %
14.79%
Top 10 Hldgs %
85.33%
Holding
20
New
2
Increased
5
Reduced
4
Closed
–

Top Buys

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$282M
2
PCG icon
PG&E
PCG
+$182M
3
KERX
Keryx Biopharmaceuticals Inc
KERX
+$22M
4
SPH icon
Suburban Propane Partners
SPH
+$20.5M
5
ORLY icon
O'Reilly Automotive
ORLY
+$6.52M

Top Sells

Rank Stock Value
1
TEVA icon
Teva Pharmaceuticals
TEVA
+$28.3M
2
WFC icon
Wells Fargo
WFC
+$27M
3
BNED icon
Barnes & Noble Education
BNED
+$14.8M
4
DBRG icon
DigitalBridge
DBRG
+$9.86M

Sector Composition

Rank Sector Weight
1 Financials 41.02%
2 Healthcare 14.12%
3 Consumer Discretionary 11.9%
4 Communication Services 10.24%
5 Technology 9.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WU icon
1
Western Union
WU
$2.28B
$411M 13.83%
21,608,707
– –
TEVA icon
2
Teva Pharmaceuticals
TEVA
$43.5B
$374M 12.6%
19,743,123
-1,880,763
-9% -$28.3M
BEN icon
3
Franklin Templeton, Inc.
BEN
$17.4B
$344M 11.59%
7,945,023
– –
AABA
4
DELISTED
Altaba Inc
AABA
$273M 9.21%
3,914,805
– –
TWX
5
DELISTED
Time Warner Inc
TWX
$273M 9.18%
+2,980,642
New +$282M
ORLY icon
6
O'Reilly Automotive
ORLY
$72.1B
$212M 7.15%
13,247,910
+437,910
+3% +$6.52M
WTW icon
7
Willis Towers Watson
WTW
$31.8B
$178M 6%
1,183,287
– –
WFC icon
8
Wells Fargo
WFC
$254B
$174M 5.85%
2,863,662
-478,681
-14% -$27M
UHAL icon
9
U-Haul Holding Co
UHAL
$13.9B
$149M 5.02%
3,946,100
– –
PCG icon
10
PG&E
PCG
$38.8B
$146M 4.91%
+3,250,000
New +$182M
QCP
11
DELISTED
Quality Care Properties, Inc.
QCP
$70.1M 2.36%
5,077,545
+77,545
+2% +$1.18M
ABG icon
12
Asbury Automotive
ABG
$3.86B
$69.4M 2.34%
1,085,091
+85,091
+9% +$5.32M
DBRG icon
13
DigitalBridge
DBRG
$2.95B
$55.8M 1.88%
1,222,035
-200,618
-14% -$9.86M
SCU
14
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$55.6M 1.87%
2,223,859
– –
BNED icon
15
Barnes & Noble Education
BNED
$418M
$53.9M 1.81%
65,397
-22,318
-25% -$14.8M
KERX
16
DELISTED
Keryx Biopharmaceuticals Inc
KERX
$45.2M 1.52%
9,719,176
+4,000,000
+70% +$22M
SPH icon
17
Suburban Propane Partners
SPH
$1.18B
$36.5M 1.23%
1,507,540
+825,126
+121% +$20.5M
GPI icon
18
Group 1 Automotive
GPI
$3.12B
$17.8M 0.6%
250,471
– –
ENT
19
DELISTED
Global Eagle Entertainment Inc.
ENT
$16M 0.54%
280,000
– –
CCO icon
20
Clear Channel Outdoor Holdings
CCO
$1.21B
$15.4M 0.52%
3,354,390
– –

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David Abrams's Q4 2017 Portfolio in Review

As of Q4 2017, David Abrams held 20 positions worth $2.97B, up 16% from $2.56B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

David Abrams deployed $439M of net new capital in Q4 2017, opening 2 new positions and adding to 5 existing holdings. Its largest new stake was Time Warner Inc: 2,980,642 shares worth $273M.

By sector, the portfolio is most concentrated in Financials at 41% of assets, down from 50% a quarter earlier, followed by Healthcare and Consumer Discretionary.

On the sell side, the largest reduction was Teva Pharmaceuticals, an estimated $28.3M trimmed.

  • David Abrams's largest Q4 2017 buy was Time Warner Inc: 2,980,642 shares worth $273M.
  • David Abrams added most to Keryx Biopharmaceuticals Inc in Q4 2017, an estimated $22M increase.
  • David Abrams's biggest Q4 2017 reduction was Teva Pharmaceuticals, cutting an estimated $28.3M.
  • David Abrams's ten largest holdings make up 85% of its $2.97B portfolio in Q4 2017.
  • David Abrams opened 2 new positions and closed 0 in Q4 2017.
  • David Abrams's portfolio value rose 16% quarter-over-quarter to $2.97B.

Based on Abrams Capital Management's 13F filing for Q4 2017, filed 13 Feb 2018.