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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
+51.32%
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
$3.09B
AUM Growth
+$553M
Cap. Flow
-$220M
Cap. Flow %
-7.11%
Top 10 Hldgs %
76.04%
Holding
22
New
–
Increased
1
Reduced
1
Closed
2

Top Buys

Rank Stock Value
1
KMI icon
Kinder Morgan
KMI
+$40.6M

Top Sells

Rank Stock Value
1
AGN
Allergan plc
AGN
+$219M
2
SPH icon
Suburban Propane Partners
SPH
+$37.7M
3
PACD
Pacific Drilling S.A. Common Shares
PACD
+$3.62M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 23.56%
2 Communication Services 15.67%
3 Financials 14.41%
4 Healthcare 14.09%
5 Industrials 13.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LAD icon
1
Lithia Motors
LAD
$8.15B
$337M 10.89%
2,226,068
– –
TEVA icon
2
Teva Pharmaceuticals
TEVA
$43.5B
$296M 9.58%
24,046,356
– –
META icon
3
Meta Platforms (Facebook)
META
$1.4T
$274M 8.84%
1,205,043
– –
TDG icon
4
TransDigm Group
TDG
$66.4B
$238M 7.7%
539,305
– –
PCG icon
5
PG&E
PCG
$38.8B
$222M 7.17%
25,000,000
– –
WTW icon
6
Willis Towers Watson
WTW
$31.8B
$215M 6.96%
1,094,001
– –
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.22T
$208M 6.71%
2,928,800
– –
BEN icon
8
Franklin Templeton, Inc.
BEN
$17.4B
$204M 6.59%
9,717,841
– –
KMI icon
9
Kinder Morgan
KMI
$69B
$189M 6.12%
12,476,200
+2,669,942
+27% +$40.6M
UHAL icon
10
U-Haul Holding Co
UHAL
$13.9B
$170M 5.48%
5,612,580
– –
CWH icon
11
Camping World
CWH
$676M
$166M 5.36%
6,108,808
– –
ABG icon
12
Asbury Automotive
ABG
$3.86B
$164M 5.29%
2,118,216
– –
ET icon
13
Energy Transfer Partners
ET
$73B
$96.3M 3.11%
13,527,492
– –
BMY.RT
14
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$83.1M 2.68%
23,202,869
– –
AKBA icon
15
Akebia Therapeutics
AKBA
$251M
$76.8M 2.48%
5,656,462
– –
TMDX icon
16
Transmedics
TMDX
$3.29B
$62.7M 2.03%
3,499,859
– –
OI icon
17
O-I Glass
OI
$1.1B
$62.3M 2.01%
6,934,144
– –
SCU
18
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
$26.6M 0.86%
2,058,860
– –
CCO icon
19
Clear Channel Outdoor Holdings
CCO
$1.21B
$3.49M 0.11%
3,354,390
– –
PACD
20
DELISTED
Pacific Drilling S.A. Common Shares
PACD
$201K 0.01%
406,076
-7,008,461
-95% -$3.62M
SPH icon
21
Suburban Propane Partners
SPH
$1.18B
– –
-2,667,512
Closed -$37.7M
AGN
22
DELISTED
Allergan plc
AGN
– –
-1,238,000
Closed -$219M

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David Abrams's Q2 2020 Portfolio in Review

As of Q2 2020, David Abrams held 22 positions worth $3.09B, up 22% from $2.54B the previous quarter. Its ten largest holdings account for 76% of the portfolio.

David Abrams withdrew a net $220M in Q2 2020, closing 2 positions and reducing 1 holding. Its most notable exit was Allergan plc, an estimated $219M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 24% of assets, up from 15% a quarter earlier, followed by Communication Services and Financials.

Against the trend, David Abrams added an estimated $40.6M to Kinder Morgan.

  • David Abrams added most to Kinder Morgan in Q2 2020, an estimated $40.6M increase.
  • David Abrams's biggest Q2 2020 reduction was Pacific Drilling S.A. Common Shares, cutting an estimated $3.62M.
  • David Abrams fully exited Allergan plc in Q2 2020, selling an estimated $219M.
  • David Abrams's ten largest holdings make up 76% of its $3.09B portfolio in Q2 2020.
  • David Abrams opened 0 new positions and closed 2 in Q2 2020.
  • David Abrams's portfolio value rose 22% quarter-over-quarter to $3.09B.

Based on Abrams Capital Management's 13F filing for Q2 2020, filed 13 Aug 2020.