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Abrams Capital

Q3 2016 13F · by David Abrams, founder

As of
Sep 30, 2016
Filed
Nov 14, 2016
US stock
$2.0B · prev $1.9B
Positions
16 · prev 17
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves3 since the prior filing

The book

Very concentrated · behaves like 9 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 0.1% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions67% of US stock

  1. WU The Western Union Company held held22.3%
  2. MSFT Microsoft Corp held held14.2%
  3. BEN Franklin Templeton, Inc. held held14.0%
  4. unresolved Manitowoc Foodservice Inc held held9.1%
  5. unresolved Northstar Asset Mgmt Group I held held7.0%

Positions16 in this filing · 1 exited

WUThe Western Union Company22.33%21,608,707$450Mheld—14 q
MSFTMicrosoft Corp14.24%4,980,000$287Mheld—11 q
BENFranklin Templeton, Inc.14.03%7,945,023$283Mheld—4 q
unresolvedManitowoc Foodservice Inc9.06%11,255,323$183Mheld—3 q
unresolvedNorthstar Asset Mgmt Group I7.00%10,908,145$141Mheld—3 q
WFCWells Fargo & Co.6.09%2,770,000$123Mheld—12 q
unresolvedBarnes & Noble Inc5.84%10,418,775$118Madded0%−0.34 pp11 q
BNEDBarnes & Noble Education, Inc4.17%8,771,492$84Mheld—5 q
unresolvedOch Ziff Cap Mgmt Group3.67%17,040,650$74Madded+11%+0.62 pp2 q
unresolvedVimpelcom Ltd-spon ADR3.24%18,770,950$65Mheld—7 q
unresolvedNorthstar Rlty Fin Corp2.14%3,279,651$43Mheld—3 q
unresolvedGlobal Eagle Entmt Inc2.06%5,000,000$42Mheld—12 q
OPBOpus Bank1.85%1,052,433$37Mheld—10 q
9M1NMoneygram International Inc1.81%5,130,000$36Mheld—8 q
unresolvedKeryx Biopharmaceuticals Inc1.51%5,719,176$30Mheld—5 q
unresolvedClear Channel Outdoor Hldgs0.97%3,354,390$20Mheld—14 q
unresolvedTicc Capital Corp—−59,105—exited−0.02 pp—

Source

Form
13F-HR
Reading
0 defects · 9 unresolved
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet