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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
-10.48%
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
$2.42B
AUM Growth
-$1.36B
Cap. Flow
-$1.05B
Cap. Flow %
-43.46%
Top 10 Hldgs %
82.07%
Holding
24
New
2
Increased
5
Reduced
5
Closed
5

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$145M
2
PACD
Pacific Drilling S.A. Common Shares
PACD
+$94.4M
3
AKBA icon
Akebia Therapeutics
AKBA
+$35.5M
4
CWH icon
Camping World
CWH
+$27.1M
5
LAD icon
Lithia Motors
LAD
+$23.7M

Top Sells

Rank Stock Value
1
SHPG
Shire pic
SHPG
+$407M
2
ESRX
Express Scripts Holding Company
ESRX
+$303M
3
AABA
Altaba Inc
AABA
+$257M
4
WU icon
Western Union
WU
+$195M
5
AET
Aetna Inc
AET
+$167M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 27.53%
2 Financials 27.47%
3 Healthcare 13.1%
4 Communication Services 12.05%
5 Energy 9.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BEN icon
1
Franklin Templeton, Inc.
BEN
$17.4B
$298M 12.3%
10,037,706
+92,683
+0.9% +$2.85M
ORLY icon
2
O'Reilly Automotive
ORLY
$72.1B
$296M 12.24%
12,899,715
-348,195
-3% -$7.93M
TEVA icon
3
Teva Pharmaceuticals
TEVA
$43.5B
$286M 11.8%
18,522,372
-1,000,000
-5% -$20.5M
UHAL icon
4
U-Haul Holding Co
UHAL
$13.9B
$189M 7.81%
5,760,450
– –
WU icon
5
Western Union
WU
$2.28B
$178M 7.36%
10,434,763
-10,730,735
-51% -$195M
LAD icon
6
Lithia Motors
LAD
$8.15B
$176M 7.25%
2,300,000
+300,000
+15% +$23.7M
WTW icon
7
Willis Towers Watson
WTW
$31.8B
$169M 6.96%
1,109,811
-73,476
-6% -$11M
KMI icon
8
Kinder Morgan
KMI
$69B
$135M 5.57%
8,761,405
– –
META icon
9
Meta Platforms (Facebook)
META
$1.4T
$131M 5.42%
+999,649
New +$145M
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$4.22T
$130M 5.36%
2,482,340
– –
ABG icon
11
Asbury Automotive
ABG
$3.86B
$127M 5.24%
1,902,528
+317,437
+20% +$20.9M
PACD
12
DELISTED
Pacific Drilling S.A. Common Shares
PACD
$99M 4.09%
+7,414,537
New +$94.4M
SPH icon
13
Suburban Propane Partners
SPH
$1.18B
$57.6M 2.38%
2,988,346
– –
CWH icon
14
Camping World
CWH
$676M
$44.3M 1.83%
3,858,808
+1,530,708
+66% +$27.1M
AKBA icon
15
Akebia Therapeutics
AKBA
$251M
$31.3M 1.29%
5,656,462
+4,537,176
+405% +$35.5M
BNED icon
16
Barnes & Noble Education
BNED
$418M
$23.5M 0.97%
58,725
– –
SCU
17
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$20.5M 0.85%
2,223,859
– –
CCO icon
18
Clear Channel Outdoor Holdings
CCO
$1.21B
$17.4M 0.72%
3,354,390
– –
ENT
19
DELISTED
Global Eagle Entertainment Inc.
ENT
$13.5M 0.56%
242,766
-18,131
-7% -$1.11M
AABA
20
DELISTED
Altaba Inc
AABA
– –
-3,769,842
Closed -$257M
ESRX
21
DELISTED
Express Scripts Holding Company
ESRX
– –
-3,192,304
Closed -$303M
KERX
22
DELISTED
Keryx Biopharmaceuticals Inc
KERX
– –
-9,108,867
Closed -$31M
AET
23
DELISTED
Aetna Inc
AET
– –
-823,555
Closed -$167M
SHPG
24
DELISTED
Shire pic
SHPG
– –
-2,247,133
Closed -$407M

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David Abrams's Q4 2018 Portfolio in Review

As of Q4 2018, David Abrams held 24 positions worth $2.42B, down 36% from $3.78B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

David Abrams withdrew a net $1.05B in Q4 2018, closing 5 positions and reducing 5 holdings. Its most notable exit was Shire pic, an estimated $407M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 28% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.

Against the trend, David Abrams opened a new position in Meta Platforms (Facebook) worth $131M.

  • David Abrams's largest Q4 2018 buy was Meta Platforms (Facebook): 999,649 shares worth $131M.
  • David Abrams added most to Akebia Therapeutics in Q4 2018, an estimated $35.5M increase.
  • David Abrams's biggest Q4 2018 reduction was Western Union, cutting an estimated $195M.
  • David Abrams fully exited Shire pic in Q4 2018, selling an estimated $407M.
  • David Abrams's ten largest holdings make up 82% of its $2.42B portfolio in Q4 2018.
  • David Abrams opened 2 new positions and closed 5 in Q4 2018.
  • David Abrams's portfolio value fell 36% quarter-over-quarter to $2.42B.

Based on Abrams Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.