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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
-1.85%
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
$3.19B
AUM Growth
+$219M
Cap. Flow
+$318M
Cap. Flow %
9.98%
Top 10 Hldgs %
81.77%
Holding
22
New
2
Increased
6
Reduced
1
Closed
2

Top Buys

Rank Stock Value
1
AET
Aetna Inc
AET
+$248M
2
KMI icon
Kinder Morgan
KMI
+$147M
3
UHAL icon
U-Haul Holding Co
UHAL
+$34.6M
4
TWX
Time Warner Inc
TWX
+$34.4M
5
QCP
Quality Care Properties, Inc.
QCP
+$28.7M

Top Sells

Rank Stock Value
1
WFC icon
Wells Fargo
WFC
+$174M
2
DBRG icon
DigitalBridge
DBRG
+$55.8M
3
BNED icon
Barnes & Noble Education
BNED
+$3M

Sector Composition

Rank Sector Weight
1 Financials 36.49%
2 Healthcare 11.83%
3 Consumer Discretionary 11.49%
4 Communication Services 10.76%
5 Technology 9.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WU icon
1
Western Union
WU
$2.28B
$416M 13.03%
21,608,707
– –
TEVA icon
2
Teva Pharmaceuticals
TEVA
$43.5B
$337M 10.58%
19,743,123
– –
TWX
3
DELISTED
Time Warner Inc
TWX
$316M 9.92%
3,346,103
+365,461
+12% +$34.4M
AABA
4
DELISTED
Altaba Inc
AABA
$290M 9.09%
3,914,805
– –
BEN icon
5
Franklin Templeton, Inc.
BEN
$17.4B
$276M 8.64%
7,945,023
– –
AET
6
DELISTED
Aetna Inc
AET
$233M 7.31%
+1,380,000
New +$248M
ORLY icon
7
O'Reilly Automotive
ORLY
$72.1B
$218M 6.85%
13,247,910
– –
WTW icon
8
Willis Towers Watson
WTW
$31.8B
$180M 5.65%
1,183,287
– –
PCG icon
9
PG&E
PCG
$38.8B
$172M 5.39%
3,911,357
+661,357
+20% +$28.1M
UHAL icon
10
U-Haul Holding Co
UHAL
$13.9B
$170M 5.32%
4,920,440
+974,340
+25% +$34.6M
QCP
11
DELISTED
Quality Care Properties, Inc.
QCP
$136M 4.26%
7,000,000
+1,922,455
+38% +$28.7M
KMI icon
12
Kinder Morgan
KMI
$69B
$128M 4%
+8,472,622
New +$147M
ABG icon
13
Asbury Automotive
ABG
$3.86B
$73.2M 2.3%
1,085,091
– –
SCU
14
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$59.4M 1.86%
2,223,859
– –
SPH icon
15
Suburban Propane Partners
SPH
$1.18B
$43.8M 1.37%
1,988,346
+480,806
+32% +$11.7M
BNED icon
16
Barnes & Noble Education
BNED
$418M
$42.1M 1.32%
61,139
-4,258
-7% -$3M
KERX
17
DELISTED
Keryx Biopharmaceuticals Inc
KERX
$39.8M 1.25%
9,719,176
– –
GPI icon
18
Group 1 Automotive
GPI
$3.12B
$32.7M 1.03%
500,471
+250,000
+100% +$18.5M
CCO icon
19
Clear Channel Outdoor Holdings
CCO
$1.21B
$16.4M 0.52%
3,354,390
– –
ENT
20
DELISTED
Global Eagle Entertainment Inc.
ENT
$10.3M 0.32%
280,000
– –
DBRG icon
21
DigitalBridge
DBRG
$2.95B
– –
-1,222,035
Closed -$55.8M
WFC icon
22
Wells Fargo
WFC
$254B
– –
-2,863,662
Closed -$174M

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David Abrams's Q1 2018 Portfolio in Review

As of Q1 2018, David Abrams held 22 positions worth $3.19B, up 7.4% from $2.97B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

David Abrams deployed $318M of net new capital in Q1 2018, opening 2 new positions and adding to 6 existing holdings. Its largest new stake was Aetna Inc: 1,380,000 shares worth $233M.

By sector, the portfolio is most concentrated in Financials at 36% of assets, down from 41% a quarter earlier, followed by Healthcare and Consumer Discretionary.

On the sell side, the largest reduction was Barnes & Noble Education, an estimated $3M trimmed.

  • David Abrams's largest Q1 2018 buy was Aetna Inc: 1,380,000 shares worth $233M.
  • David Abrams added most to U-Haul Holding Co in Q1 2018, an estimated $34.6M increase.
  • David Abrams's biggest Q1 2018 reduction was Barnes & Noble Education, cutting an estimated $3M.
  • David Abrams fully exited Wells Fargo in Q1 2018, selling an estimated $174M.
  • David Abrams's ten largest holdings make up 82% of its $3.19B portfolio in Q1 2018.
  • David Abrams opened 2 new positions and closed 2 in Q1 2018.
  • David Abrams's portfolio value rose 7.4% quarter-over-quarter to $3.19B.

Based on Abrams Capital Management's 13F filing for Q1 2018, filed 11 May 2018.