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David Abrams’ Top Stock Picks

David Abrams is considered to be a rising star in the hedge-fund industry. His fund, Abrams Capital Management, which was founded in 1999, has returned 20% since inception. He has $8 billion in assets under management and an equity portfolio valued at $1.4 billion, as of the second quarter. In his latest 13F filing, the investor revealed stakes in 15 companies, mainly in technology and financial sectors, which together make 81% of the total equity holdings. Abrams’ top three stocks for the quarter are The Western Union Company (NYSE:WU), American International Group Inc (NYSE:AIG), Wells Fargo & Co (NYSE:WFC). All three stakes make 54% of the total equity portfolio.

David Abrams

In the second quarter Abrams has bought additional 4 million shares of The Western Union Company (NYSE:WU), increasing its stake to 21.4 million shares. The holding has a value of $371 million and makes about 26% of the investor’s equity portfolio. The Western Union Company (NYSE:WU) has seen its stock rise 13.5% in the last quarter, to trade at $17.74, despite falling profits.

John W. Rogers’ Ariel Investments has a stake 13.9 million shares in The Western Union Company (NYSE:WU) as well, worth $242 million.

Abrams has not changed its stake in American International Group Inc (NYSE:AIG) since the last quarter. The investor still owns 4.7 million shares that have a market value of $258 million. The holding in American International Group Inc (NYSE:AIG) makes 18.29% of the total stocks. In the last quarter, the company’s stock has been flat, posting a percentage point increase.

Bruce Berkowitz’s Fairholme Capital Management is the largest shareholder in American International Group Inc (NYSE:AIG) from the hedge-funds tracked by He has 69 million shares worth $3.8 billion.

Abrams also maintains his position in Wells Fargo & Co (NYSE:WFC), a bank holding company. He owns 2.7 million shares valued at $145 million. The stake in Wells Fargo & Co (NYSE:WFC), which is one of the biggest banks in the World, makes 10.28% of the stock portfolio. The company’s shares have not performed extremely well in the second quarter, rising by only 3.4%.

Warren Buffett’s Berkshire Hathaway is the largest shareholder in Wells Fargo & Co (NYSE:WFC), owning 463 million shares that have a market value of $24 billion.

Disclosure: none

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