David Abrams Abrams Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$836M |
| 2 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$46M |
| 3 |
Camping World
CWH
|
+$3.38M |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 26.28% |
| 2 | Consumer Discretionary | 21.29% |
| 3 | Financials | 15.1% |
| 4 | Communication Services | 9.59% |
| 5 | Utilities | 8.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
CELG
1
DELISTED
Celgene Corp
CELG
| $671M | 18.77% |
6,752,869
| – | – |
2019 Q1
2 quarters
|
|
2
Lithia Motors
LAD
$6.44B
| $304M | 8.52% |
2,300,000
| – | – |
2018 Q2
5 quarters
|
|
3
Franklin Templeton
BEN
$15.6B
| $282M | 7.9% |
9,772,486
| – | – |
2015 Q4
15 quarters
|
|
4
PG&E
PCG
$39.4B
| $250M | 7% |
25,000,000
| – | – |
2019 Q1
2 quarters
|
|
|
AABA
5
DELISTED
Altaba Inc
AABA
| $246M | 6.9% |
+12,650,000
| New | +$836M |
2019 Q3
0 quarters
|
|
6
U-Haul Holding Co
UHAL
$10.8B
| $219M | 6.13% |
5,612,580
| – | – |
2016 Q4
11 quarters
|
|
7
Willis Towers Watson
WTW
$29.2B
| $214M | 6% |
1,109,811
| – | – |
2016 Q4
11 quarters
|
|
8
O'Reilly Automotive
ORLY
$72.1B
| $213M | 5.96% |
8,008,290
| – | – |
2017 Q3
8 quarters
|
|
9
Asbury Automotive
ABG
$3.05B
| $195M | 5.45% |
1,902,528
| – | – |
2017 Q3
8 quarters
|
|
10
Meta Platforms (Facebook)
META
$1.8T
| $182M | 5.11% |
1,024,723
| – | – |
2018 Q4
3 quarters
|
|
11
Kinder Morgan
KMI
$74.4B
| $176M | 4.92% |
8,529,816
| – | – |
2018 Q1
6 quarters
|
|
|
12
Teva Pharmaceutical Industries Limited
TEVA
$48.2B
| $165M | 4.63% |
24,046,356
+6,000,000
| +33% | +$46M |
2017 Q3
8 quarters
|
|
13
Alphabet (Google) Class A
GOOGL
$4.21T
| $152M | 4.24% |
2,482,340
| – | – |
2018 Q2
5 quarters
|
|
14
Transmedics
TMDX
$2.48B
| $80.4M | 2.25% |
3,499,859
| – | – |
2019 Q2
1 quarter
|
|
15
Suburban Propane Partners
SPH
$1.15B
| $70.6M | 1.98% |
2,988,346
| – | – |
2017 Q2
9 quarters
|
|
|
16
Camping World
CWH
$281M
| $48.6M | 1.36% |
5,458,626
+349,818
| +7% | +$3.38M |
2018 Q3
4 quarters
|
|
|
SCU
17
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $43.3M | 1.21% |
2,223,860
| – | – |
2016 Q2
13 quarters
|
|
|
PACD
18
DELISTED
Pacific Drilling S.A. Common Shares
PACD
| $29M | 0.81% |
7,414,537
| – | – |
2018 Q4
3 quarters
|
|
19
Akebia Therapeutics
AKBA
$188M
| $22.2M | 0.62% |
5,656,462
| – | – |
2018 Q3
4 quarters
|
|
20
DELISTED
Clear Channel Outdoor Holdings
CCO
| $8.45M | 0.24% |
3,354,390
| – | – |
2013 Q2
25 quarters
|
|
Similar funds
David Abrams's Q3 2019 Portfolio in Review
As of Q3 2019, David Abrams held 20 positions worth $3.57B, down 3% from $3.68B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
David Abrams deployed $886M of net new capital in Q3 2019, opening 1 new position and adding to 2 existing holdings. Its largest new stake was Altaba Inc: 12,650,000 shares worth $246M.
By sector, the portfolio is most concentrated in Healthcare at 26% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Financials.
- David Abrams's largest Q3 2019 buy was Altaba Inc: 12,650,000 shares worth $246M.
- David Abrams added most to Teva Pharmaceutical Industries Limited in Q3 2019, an estimated $46M increase.
- David Abrams's ten largest holdings make up 78% of its $3.57B portfolio in Q3 2019.
- David Abrams opened 1 new position and closed 0 in Q3 2019.
- David Abrams's portfolio value fell 3% quarter-over-quarter to $3.57B.
Based on Abrams Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.