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 |
Lithia Motors
LAD
|
+$34.2M |
| 2 |
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
|
+$21.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Franklin Templeton
BEN
|
+$167M |
| 2 |
PG&E
PCG
|
+$20.4M |
| 3 |
Akebia Therapeutics
AKBA
|
+$14.2M |
| 4 |
SCU
Sculptor Capital Management, Inc. Class A Common Stock
SCU
|
+$14.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 34.19% |
| 2 | Communication Services | 16.68% |
| 3 | Industrials | 16.6% |
| 4 | Energy | 8.67% |
| 5 | Healthcare | 8.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Lithia Motors
LAD
$6.5B
| $688M | 19.41% |
2,351,068
+125,000
| +6% | +$34.2M |
2018 Q2
10 quarters
|
|
2
TransDigm Group
TDG
$61.1B
| $334M | 9.41% |
539,305
| – | – |
2020 Q1
3 quarters
|
|
3
Meta Platforms (Facebook)
META
$1.64T
| $329M | 9.28% |
1,205,043
| – | – |
2018 Q4
8 quarters
|
|
4
Asbury Automotive
ABG
$3.1B
| $309M | 8.71% |
2,118,216
| – | – |
2017 Q3
13 quarters
|
|
|
5
PG&E
PCG
$37.9B
| $289M | 8.15% |
23,195,008
-1,804,992
| -7% | -$20.4M |
2019 Q1
7 quarters
|
|
6
Alphabet (Google) Class A
GOOGL
$3.92T
| $257M | 7.24% |
2,928,800
| – | – |
2018 Q2
10 quarters
|
|
7
U-Haul Holding Co
UHAL
$10.8B
| $255M | 7.19% |
5,612,580
| – | – |
2016 Q4
16 quarters
|
|
8
Teva Pharmaceutical Industries Limited
TEVA
$46B
| $232M | 6.54% |
24,046,356
| – | – |
2017 Q3
13 quarters
|
|
9
Willis Towers Watson
WTW
$30.2B
| $230M | 6.5% |
1,094,001
| – | – |
2016 Q4
16 quarters
|
|
10
Kinder Morgan
KMI
$76.7B
| $171M | 4.81% |
12,476,200
| – | – |
2018 Q1
11 quarters
|
|
11
Energy Transfer Partners
ET
$70.4B
| $137M | 3.86% |
22,124,322
| – | – |
2020 Q1
3 quarters
|
|
12
Camping World
CWH
$268M
| $133M | 3.75% |
5,108,808
| – | – |
2018 Q3
9 quarters
|
|
13
O-I Glass
OI
$994M
| $82.5M | 2.33% |
6,934,144
| – | – |
2019 Q4
4 quarters
|
|
14
Transmedics
TMDX
$2.45B
| $69.6M | 1.96% |
3,499,859
| – | – |
2019 Q2
6 quarters
|
|
|
15
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
| $17.1M | 0.48% |
24,800,355
+10,000,000
| +68% | +$21.3M |
2019 Q4
4 quarters
|
|
|
SCU
16
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
| $7.93M | 0.22% |
521,991
-1,069,183
| -67% | -$14.1M |
2016 Q2
18 quarters
|
|
17
DELISTED
Clear Channel Outdoor Holdings
CCO
| $5.54M | 0.16% |
3,354,390
| – | – |
2013 Q2
30 quarters
|
|
|
18
Akebia Therapeutics
AKBA
$157M
| – | – |
-5,656,462
| Closed | -$14.2M | – |
|
|
19
Franklin Templeton
BEN
$15.8B
| – | – |
-8,203,848
| Closed | -$167M | – |
|
Similar funds
David Abrams's Q4 2020 Portfolio in Review
As of Q4 2020, David Abrams held 19 positions worth $3.55B, up 12% from $3.16B the previous quarter. Its ten largest holdings account for 87% of the portfolio.
David Abrams withdrew a net $160M in Q4 2020, closing 2 positions and reducing 2 holdings. Its most notable exit was Franklin Templeton, an estimated $167M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 34% of assets, up from 30% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, David Abrams added an estimated $34.2M to Lithia Motors.
- David Abrams added most to Lithia Motors in Q4 2020, an estimated $34.2M increase.
- David Abrams's biggest Q4 2020 reduction was PG&E, cutting an estimated $20.4M.
- David Abrams fully exited Franklin Templeton in Q4 2020, selling an estimated $167M.
- David Abrams's ten largest holdings make up 87% of its $3.55B portfolio in Q4 2020.
- David Abrams opened 0 new positions and closed 2 in Q4 2020.
- David Abrams's portfolio value rose 12% quarter-over-quarter to $3.55B.
Based on Abrams Capital Management's 13F filing for Q4 2020, filed 12 Feb 2021.