Abrams Capital

Q3 2021 13F · by David Abrams, founder

As of: Sep 30, 2021
Filed: Nov 12, 2021
US stock: $4.6B · prev $4.5B
Positions: 18 · prev 16
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%

Moves5 since the prior filing

+7.2 pp in · −4.8 pp out

New 3 +6.55 pp
Added 1 +0.61 pp
Trimmed 0 0.00 pp
Exited 1 −4.79 pp

The book

Concentrated · behaves like 12 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 19% a year, about 5.3 years per position

Low
Moderate
High

Top 5 positions51% of US stock

LAD Lithia Motors, Inc. held held16.3%
ABG Asbury Automotive Group, Inc. held held9.1%
META Meta Platforms, Inc. Class A held held8.9%
GOOGL Alphabet Inc. Class A held held8.5%
UHAL U-Haul Holding Company held held7.9%

Positions18 in this filing · 1 exited


LADLithia Motors, Inc.	16.26%	2,351,068	$745M	held	—	14 q
ABGAsbury Automotive Group, Inc.	9.09%	2,118,216	$417M	held	—	17 q
METAMeta Platforms, Inc. Class A	8.92%	1,205,043	$409M	held	—	12 q
GOOGLAlphabet Inc. Class A	8.54%	146,440	$392M	held	—	14 q
UHALU-Haul Holding Company	7.91%	561,258	$363M	held	—	20 q
CHNGChange Healthcare Inc.	7.75%	16,978,220	$356M	added+22%	+0.61 pp	3 q
TDGTransDigm Group Incorporated	7.35%	539,305	$337M	held	—	7 q
WTWWillis Towers Watson Public Limited Company	5.55%	1,094,001	$254M	held	—	20 q
TEVATeva Pharmaceutical Industries Limited	5.11%	24,046,356	$234M	held	—	17 q
ETEnergy Transfer LP	4.62%	22,124,322	$212M	held	—	7 q
KMIKinder Morgan, Inc.	4.55%	12,476,200	$209M	held	—	15 q
CWHCamping World Holdings, Inc.	4.33%	5,108,808	$199M	held	—	13 q
SGISomnigroup International Inc.	3.64%	3,600,000	$167M	new	+3.64 pp	new
CPNGCoupang, Inc.	2.68%	4,414,276	$123M	new	+2.68 pp	new
OIO-I Glass, Inc.	2.16%	6,934,144	$99M	held	—	8 q
NUVBNuvation Bio Inc.	0.83%	3,811,513	$38M	held	—	3 q
UTE0USA Technologies, Inc.	0.49%	2,090,000	$23M	held	—	3 q
unresolvedU S Centy Bk Doral Fla	0.23%	859,354	$10M	new	+0.23 pp	new
PCGPG&E Corporation	—	−21,177,838	—	exited	−4.79 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001172661-21-002171
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet