Abrams Capital

Q1 2020 13F · by David Abrams, founder

Picture100.0% US stock

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

+10.2 pp in · −7.6 pp out

Concentrated · behaves like 15 equal-sized positions

Moderate turnover · 37% a year, about 2.7 years per position


PCGPG&E Corporation	8.85%	25,000,000	$225M	held	—	5 q
ACTAllergan PLC	8.63%	1,238,000	$219M	held	—	2 q
TEVATeva Pharmaceutical Industries Limited	8.50%	24,046,356	$216M	held	—	11 q
METAMeta Platforms, Inc. Class A	7.91%	1,205,043	$201M	added+18%	+1.41 pp	6 q
WTWWillis Towers Watson Public Limited Company	7.31%	1,094,001	$186M	held	—	14 q
LADLithia Motors, Inc.	7.17%	2,226,068	$182M	held	—	8 q
TDGTransDigm Group Incorporated	6.80%	539,305	$173M	new	+6.80 pp	new
GOOGLAlphabet Inc. Class A	6.70%	146,440	$170M	added+21%	+1.66 pp	8 q
UHALU-Haul Holding Company	6.42%	561,258	$163M	held	—	14 q
BENFranklin Templeton, Inc.	6.38%	9,717,841	$162M	held	—	18 q
KMIKinder Morgan, Inc.	5.37%	9,806,258	$137M	added+15%	−0.24 pp	9 q
ABGAsbury Automotive Group, Inc.	4.60%	2,118,216	$117M	added+11%	−2.01 pp	11 q
BMY-RBristol-myers Squibb-cvr	3.47%	23,202,869	$88M	held	—	2 q
ETEnergy Transfer LP	2.45%	13,527,492	$62M	new	+2.45 pp	new
OIO-I Glass, Inc.	1.94%	6,934,144	$49M	added+42%	+0.13 pp	2 q
AKBAAkebia Therapeutics, Inc.	1.69%	5,656,462	$43M	held	—	7 q
TMDXTransMedics Group, Inc.	1.66%	3,499,859	$42M	held	—	4 q
SPHSuburban Propane Partners L P	1.48%	2,667,512	$38M	trimmed−11%	−0.55 pp	12 q
CWHCamping World Holdings, Inc.	1.37%	6,108,808	$35M	held	—	7 q
35OBSculptor Capital Management	1.10%	2,058,860	$28M	held	—	3 q
PACDPacific Drilling SA	0.13%	7,414,537	$3M	held	—	6 q
CCOClear Channel Outdoor Holdings, Inc.	0.08%	3,354,390	$2M	held	—	4 q
ORLYO'Reilly Automotive, Inc.	—	−519,476	—	exited	−7.07 pp	—