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 |
U-Haul Holding Co Series N
UHAL.B
|
+$212M |
| 2 |
Meta Platforms (Facebook)
META
|
+$114M |
| 3 |
Coupang
CPNG
|
+$793K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CHNG
Change Healthcare Inc. Common Stock
CHNG
|
+$437M |
| 2 |
U-Haul Holding Co
UHAL
|
+$220M |
| 3 |
TransDigm Group
TDG
|
+$102M |
| 4 |
O-I Glass
OI
|
+$89.8M |
| 5 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$69.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 46.23% |
| 2 | Communication Services | 16.7% |
| 3 | Industrials | 16.28% |
| 4 | Energy | 7.55% |
| 5 | Financials | 7.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Lithia Motors
LAD
$6.58B
| $481M | 17.17% |
2,351,068
| – | – |
2018 Q2
18 quarters
|
|
2
Asbury Automotive
ABG
$3.09B
| $380M | 13.54% |
2,118,216
| – | – |
2017 Q3
21 quarters
|
|
|
3
Meta Platforms (Facebook)
META
$1.77T
| $262M | 9.34% |
2,176,734
+971,691
| +81% | +$114M |
2018 Q4
16 quarters
|
|
|
4
TransDigm Group
TDG
$63.2B
| $231M | 8.22% |
366,187
-173,118
| -32% | -$102M |
2020 Q1
11 quarters
|
|
5
Energy Transfer Partners
ET
$67.3B
| $212M | 7.55% |
17,834,322
-4,185,000
| -19% | -$50.2M |
2020 Q1
11 quarters
|
|
6
Alphabet (Google) Class A
GOOGL
$4.16T
| $206M | 7.36% |
2,339,440
-571,160
| -20% | -$54.3M |
2018 Q2
18 quarters
|
|
|
7
U-Haul Holding Co Series N
UHAL.B
$9.7B
| $201M | 7.18% |
+3,663,243
| New | +$212M |
2022 Q4
0 quarters
|
|
|
8
Coupang
CPNG
$25.7B
| $198M | 7.05% |
13,439,964
+44,938
| +0.3% | +$793K |
2021 Q3
5 quarters
|
|
9
Willis Towers Watson
WTW
$29.6B
| $197M | 7.04% |
806,836
-261,909
| -25% | -$59.8M |
2016 Q4
24 quarters
|
|
|
10
Teva Pharmaceutical Industries Limited
TEVA
$47.6B
| $145M | 5.18% |
15,932,865
-7,966,431
| -33% | -$69.5M |
2017 Q3
21 quarters
|
|
11
Somnigroup International
SGI
$14.7B
| $124M | 4.41% |
3,600,000
| – | – |
2021 Q3
5 quarters
|
|
12
Camping World
CWH
$289M
| $114M | 4.07% |
5,108,808
| – | – |
2018 Q3
17 quarters
|
|
|
13
U-Haul Holding Co
UHAL
$11B
| $24.5M | 0.87% |
407,027
-3,822,143
| -90% | -$220M |
2016 Q4
24 quarters
|
|
14
DELISTED
Cantaloupe
CTLP
| $13.4M | 0.48% |
3,090,000
| – | – |
2021 Q1
7 quarters
|
|
15
USCB Financial Holdings
USCB
$415M
| $7.92M | 0.28% |
649,085
-196,309
| -23% | -$2.6M |
2021 Q3
5 quarters
|
|
16
Nuvation Bio
NUVB
$1.67B
| $7.32M | 0.26% |
3,811,513
| – | – |
2021 Q1
7 quarters
|
|
17
Kinder Morgan
KMI
$74.8B
| – | – |
-3,377,688
| Closed | -$56.2M | – |
|
|
18
O-I Glass
OI
$908M
| – | – |
-6,934,144
| Closed | -$89.8M | – |
|
|
CHNG
19
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| – | – |
-15,908,220
| Closed | -$437M | – |
|
Similar funds
David Abrams's Q4 2022 Portfolio in Review
As of Q4 2022, David Abrams held 19 positions worth $2.8B, down 19% from $3.47B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
David Abrams withdrew a net $815M in Q4 2022, closing 3 positions and reducing 7 holdings. Its most notable exit was Change Healthcare Inc. Common Stock, an estimated $437M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 46% of assets, up from 39% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, David Abrams opened a new position in U-Haul Holding Co Series N worth $201M.
- David Abrams's largest Q4 2022 buy was U-Haul Holding Co Series N: 3,663,243 shares worth $201M.
- David Abrams added most to Meta Platforms (Facebook) in Q4 2022, an estimated $114M increase.
- David Abrams's biggest Q4 2022 reduction was U-Haul Holding Co, cutting an estimated $220M.
- David Abrams fully exited Change Healthcare Inc. Common Stock in Q4 2022, selling an estimated $437M.
- David Abrams's ten largest holdings make up 90% of its $2.8B portfolio in Q4 2022.
- David Abrams opened 1 new position and closed 3 in Q4 2022.
- David Abrams's portfolio value fell 19% quarter-over-quarter to $2.8B.
Based on Abrams Capital Management's 13F filing for Q4 2022, filed 10 Feb 2023.