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 |
TransDigm Group
TDG
|
+$294M |
| 2 |
Energy Transfer Partners
ET
|
+$144M |
| 3 |
Meta Platforms (Facebook)
META
|
+$36.3M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$34.5M |
| 5 |
Kinder Morgan
KMI
|
+$24.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
O'Reilly Automotive
ORLY
|
+$228M |
| 2 |
Suburban Propane Partners
SPH
|
+$6.23M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.48% |
| 2 | Consumer Discretionary | 15.08% |
| 3 | Financials | 14.79% |
| 4 | Communication Services | 14.69% |
| 5 | Industrials | 13.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PG&E
PCG
$38.5B
| $225M | 8.85% |
25,000,000
| – | – |
2019 Q1
4 quarters
|
|
|
AGN
2
DELISTED
Allergan plc
AGN
| $219M | 8.63% |
1,238,000
| – | – |
2019 Q4
1 quarter
|
|
3
Teva Pharmaceutical Industries Limited
TEVA
$46.4B
| $216M | 8.5% |
24,046,356
| – | – |
2017 Q3
10 quarters
|
|
|
4
Meta Platforms (Facebook)
META
$1.62T
| $201M | 7.91% |
1,205,043
+185,331
| +18% | +$36.3M |
2018 Q4
5 quarters
|
|
5
Willis Towers Watson
WTW
$30B
| $186M | 7.31% |
1,094,001
| – | – |
2016 Q4
13 quarters
|
|
6
Lithia Motors
LAD
$6.26B
| $182M | 7.17% |
2,226,068
| – | – |
2018 Q2
7 quarters
|
|
|
7
TransDigm Group
TDG
$62.2B
| $173M | 6.8% |
+539,305
| New | +$294M |
2020 Q1
0 quarters
|
|
|
8
Alphabet (Google) Class A
GOOGL
$3.88T
| $170M | 6.7% |
2,928,800
+508,420
| +21% | +$34.5M |
2018 Q2
7 quarters
|
|
9
U-Haul Holding Co
UHAL
$10.8B
| $163M | 6.42% |
5,612,580
| – | – |
2016 Q4
13 quarters
|
|
10
Franklin Templeton
BEN
$15.8B
| $162M | 6.38% |
9,717,841
| – | – |
2015 Q4
17 quarters
|
|
|
11
Kinder Morgan
KMI
$75.7B
| $137M | 5.37% |
9,806,258
+1,276,442
| +15% | +$24.3M |
2018 Q1
8 quarters
|
|
12
Asbury Automotive
ABG
$3.11B
| $117M | 4.6% |
2,118,216
+215,688
| +11% | +$18.8M |
2017 Q3
10 quarters
|
|
13
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
| $88.2M | 3.47% |
23,202,869
| – | – |
2019 Q4
1 quarter
|
|
|
14
Energy Transfer Partners
ET
$70.8B
| $62.2M | 2.45% |
+13,527,492
| New | +$144M |
2020 Q1
0 quarters
|
|
15
O-I Glass
OI
$986M
| $49.3M | 1.94% |
6,934,144
+2,060,176
| +42% | +$22.6M |
2019 Q4
1 quarter
|
|
16
Akebia Therapeutics
AKBA
$178M
| $42.9M | 1.69% |
5,656,462
| – | – |
2018 Q3
6 quarters
|
|
17
Transmedics
TMDX
$2.44B
| $42.3M | 1.66% |
3,499,859
| – | – |
2019 Q2
3 quarters
|
|
|
18
Suburban Propane Partners
SPH
$1.2B
| $37.7M | 1.48% |
2,667,512
-320,834
| -11% | -$6.23M |
2017 Q2
11 quarters
|
|
19
Camping World
CWH
$273M
| $34.8M | 1.37% |
6,108,808
| – | – |
2018 Q3
6 quarters
|
|
|
SCU
20
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $27.9M | 1.1% |
2,058,860
| – | – |
2016 Q2
15 quarters
|
|
|
PACD
21
DELISTED
Pacific Drilling S.A. Common Shares
PACD
| $3.19M | 0.13% |
7,414,537
| – | – |
2018 Q4
5 quarters
|
|
22
DELISTED
Clear Channel Outdoor Holdings
CCO
| $2.15M | 0.08% |
3,354,390
| – | – |
2013 Q2
27 quarters
|
|
|
23
O'Reilly Automotive
ORLY
$73.4B
| – | – |
-7,792,140
| Closed | -$228M | – |
|
Similar funds
David Abrams's Q1 2020 Portfolio in Review
As of Q1 2020, David Abrams held 23 positions worth $2.54B, down 21% from $3.22B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
David Abrams deployed $340M of net new capital in Q1 2020, opening 2 new positions and adding to 5 existing holdings. Its largest new stake was TransDigm Group: 539,305 shares worth $173M.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, up from 18% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Suburban Propane Partners, an estimated $6.23M trimmed.
- David Abrams's largest Q1 2020 buy was TransDigm Group: 539,305 shares worth $173M.
- David Abrams added most to Meta Platforms (Facebook) in Q1 2020, an estimated $36.3M increase.
- David Abrams's biggest Q1 2020 reduction was Suburban Propane Partners, cutting an estimated $6.23M.
- David Abrams fully exited O'Reilly Automotive in Q1 2020, selling an estimated $228M.
- David Abrams's ten largest holdings make up 75% of its $2.54B portfolio in Q1 2020.
- David Abrams opened 2 new positions and closed 1 in Q1 2020.
- David Abrams's portfolio value fell 21% quarter-over-quarter to $2.54B.
Based on Abrams Capital Management's 13F filing for Q1 2020, filed 14 May 2020.