David Abrams of Abrams Capital Management has remained one of the most private super-investors in the industry. Known as a protégé of billionaire Seth Klarman, he famously moves in silence, rarely speaking to the press. Instead, Abrams communicates his market outlook through SEC filings and rare appearances at closed-door investment conferences. Abrams follows the Baupost Group philosophy: he believes that sharing a thesis publicly can drive up the stock price before he has finished buying, or create an anchoring bias that makes it harder to sell if the thesis changes. He typically manages only a small group of high-net-worth institutional clients and does not market to the general public.
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David Abrams is often called the one-man wealth machine of the hedge fund world. He founded Abrams Capital Management in 1999 and has since built a reputation for massive, concentrated bets. The investment philosophy of Abrams relies on three key principles, extreme concentration, long-term bets, and a focus towards unlevered and cash-heavy businesses. Abrams, unlike other fund managers, concentrates his capital into a few high-conviction ideas. Currently, his top three positions alone account for nearly 60-65% of his total reported 13F assets. His average holding time for a position is nearly 20 quarters. He is famously patient, sometimes sitting on a static portfolio for months without making a single trade.
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Our Methodology
To compile our list of the best stocks to buy according to billionaire David Abrams, we reviewed the latest 13F filings of Abrams Capital Management. Next, we focused on the top 12 stocks in his portfolio. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey’s Q4 2025 database of 1041 elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
David Abrams of Abrams Capital Management
Best Stocks to Buy According to Billionaire David Abrams
12. Circle Internet Group (NYSE:CRCL)
Abrams Capital Management’s Stake: Sold Off
Circle Internet Group (NYSE:CRCL) does not feature in the 13F portfolio of Abrams Capital Management for the fourth quarter of 2025. The fund, which held a stake in the company comprising 275,000 shares in the second and third quarter of 2025, has sold off this position completely, per the fourth quarter filings. Circle operates as a platform, network, and market infrastructure for stablecoin and blockchain applications. The company provides various platforms, including Arc Blockchain and Developer Infrastructure, an open, layer-1 blockchain network purpose-built to bring real world economic activity on chain, as well as Circle Digital Assets and Services.
Earlier this month, Circle Internet Group (NYSE:CRCL) announced that it had appointed Kirk Koenigsbauer to the board of directors. Koenigsbauer serves as president and COO of the Experiences and Devices Group at tech giant Microsoft, focused on Microsoft 365 and Copilot. In his role at Microsoft, Koenigsbauer led the transition of Microsoft Office to the cloud with the launch of Office 365, spearheaded the creation of Microsoft 365 as an integrated productivity platform, and helped establish the security business of the firm. In earnings for the fourth quarter of 2025, Circle outlined a 40% USDC growth target as Arc Mainnet approached, driven by AI and stablecoin momentum.
11. Nuvation Bio Inc. (NYSE:NUVB)
Abrams Capital Management’s Stake: $34 Million
Nuvation Bio Inc. (NYSE:NUVB) has been featured in the 13F portfolio of Abrams Capital Management since the first quarter of 2021. The stake comprises 3.81 million shares. The fund has not made any changes to this position for the past five years. Nuvation is a clinical-stage biopharmaceutical company that focuses on developing product candidates for cancer treatment. The company’s lead product candidate is IBTROZI (taletrectinib), a ROS1 inhibitor for the treatment of patients with ROS1+ non-small cell lung cancer. In earnings for the fourth quarter of 2025, the firm announced several strategic advances, including approval and partnerships for IBTROZI in China and Japan, and a new partnership with Eisai for Europe and other territories, with the goal to submit for European approval in the first half of 2026.
Colleen Sjogren, the CCO of Nuvation Bio Inc. (NYSE:NUVB), spoke during the earnings call, highlighting that IBTROZI treated 432 new patients from approval through year-end and is being prescribed across both TKI-naive and pretreated populations. Meanwhile, Philippe Sauvage, the CFO of the biotech company, underlined that out of the $41.9 million in fourth-quarter revenue, $15.7 million was from IBTROZI. Although the management of the firm did not provide specific 2026 revenue guidance, it did underscore confidence in continued first-line patient growth and IBTROZI’s expanding presence.
10. Energy Transfer LP (NYSE:ET)
Abrams Capital Management’s Stake: $101 Million
Energy Transfer LP (NYSE:ET) is among the long-term stock picks of Abrams Capital Management. The stock has featured in the 13F portfolio of the fund consistently since the first quarter of 2021. Back then, this holding comprised 13.5 million shares. This was increased to 22.1 million shares in the third quarter of 2020. Towards the end of 2022, this stake was trimmed down to 17.8 million shares. A further reduction was made at the beginning of 2025, bringing ownership down to 6.21 million shares. Filings for the fourth quarter of 2025 show that the fund has made another reduction in this position, compared to filings for the third quarter of 2025, and owns 6.12 million shares in the energy company.
Energy Transfer LP (NYSE:ET) is a long-term favorite of elite hedge funds since the company provides a healthy mix of growth and value for investors. The growth factor is relatively recent, and is often tied to the pivotal role the firm has played in the AI-driven energy surge. For example, last year, the firm entered into long-term agreements to supply approximately 900 million cubic feet per day of natural gas to power three Oracle AI data centers, two of which are in Texas. This partnership included constructing a new lateral pipeline to ensure consistent supply for AI and cloud computing needs.
9. U-Haul Holding Company (NYSE:UHAL)
Abrams Capital Management’s Stake: $152 Million
U-Haul Holding Company (NYSE:UHAL) has been a constant feature in the 13F portfolio of Abrams Capital Management since late 2022. Back then, this position consisted of 3.6 million shares. In early 2024, this holding was trimmed more than 3%, and shares owned went down to 3.5 million. Further reductions were made in the third and fourth quarters of 2024, by 4% and 4.5% respectively, to bring ownership down to 3.25 million shares. The latest filings for the fourth quarter of 2025 show no changes to this position. The firm operates as a do-it-yourself moving and storage operator for household and commercial goods in the United States and Canada. It rents trucks, trailers, fixed and portable moving and storage units, specialty rental items, and self-storage spaces primarily to the household movers, and sells moving supplies, towing accessories, and propane.
U-Haul Holding Company (NYSE:UHAL) has emerged as a deep value play for elite hedge funds in recent years. Several factors explain this position. For example, the company is dominating the self-storage business. It owns approximately 98 million square feet of self-storage space. For U-Haul, the moving business is cyclical, but the storage segment is a recurring revenue powerhouse. U-Haul Chairman Joe Shoen indicated in the February 2026 earnings call that the company is aggressively right-sizing the fleet by selling off older, high-mileage trucks. Funds are betting that once depreciation costs normalize in the latter half of 2026, U-Haul’s earnings will experience a significant snap-back effect.
8. Meta Platforms, Inc. (NASDAQ:META)
Abrams Capital Management’s Stake: $215 Million
Meta Platforms, Inc. (NASDAQ:META) has been a staple in the 13F portfolio of Abrams Capital Management for many years. The fund first purchased a stake in the tech giant back in late 2018. This position comprised just under a million shares. Only minor adjustments were made to this position for a year. In 2020, this holding was increased by 18% to 1.2 million shares. Till the last quarter of 2023, the fund did not make major changes to this bet. However, in the fourth quarter of 2022, it upped this stake more than 80% to around 2.2 million shares. The holding was subsequently reduced to 620,000 shares and then to under 400,000 shares by early 2025. Filings for the fourth quarter of 2025 show that the fund has trimmed the stake by another 17% to around 325,000 shares.
Meta Platforms, Inc. (NASDAQ:META) is among the top stock picks of elite investors because of a variety of factors. The firm is often viewed as the most efficient and undervalued AI-integrated advertising business in the world. Latest numbers indicate that AI-driven recommendations in Reels and Threads have pushed Meta’s Family Daily Active People to over 3.48 billion as of Q1 2026, a 6% year-over-year increase. Meta also maintains a Price/Earnings to Growth (PEG) ratio of approximately 1.15. For hedge funds, this indicates that the stock is not priced for perfection compared to peers like NVIDIA or Microsoft, which often trade at much higher multiples.
7. Willis Towers Watson Public Limited Company (NASDAQ:WTW)
Abrams Capital Management’s Stake: $237 Million
Willis Towers Watson Public Limited Company (NASDAQ:WTW) is among the favorite stocks of Abrams Capital Management. The fund has held a stake in the company consistently since the fourth quarter of 2016. Back then, this position comprised 1.2 million shares. It stayed constant until late 2018, when the fund trimmed this down to 1.1 million shares. A further reduction was made in the fourth quarter of 2022, bringing ownership down to 806,000 shares. The last time the fund trimmed the stake was in the first quarter of 2024. The holding was reduced to around 720,000 shares and has stayed the same since then.
Willis Towers Watson Public Limited Company (NASDAQ:WTW) is viewed as a stable, long-term investment by elite hedge funds. While the company operates in the traditionally stable insurance brokerage and advisory sector, hedge funds are buying the stock for several specific, high-conviction reasons centered on a 2026 turnaround story. For example, some investors feared that AI would automate the consulting and risk-broking services Willis provides. However, hedge fund sentiment indicates that top investors view Willis as an AI beneficiary rather than a victim, using machine learning to refine risk pricing for global clients.
6. Coupang, Inc. (NYSE:CPNG)
Abrams Capital Management’s Stake: $307 Million
Coupang, Inc. (NYSE:CPNG) has been a constant feature in the 13F portfolio of Abrams Capital Management for many years. The fund first purchased a stake in the firm back in the third quarter of 2021. This position comprised 4.4 million shares. In the next quarter, the holding was increased by nearly 120% and brought the shares owned to 9.69 million. Another 40% was added in the first quarter of 2022. This position stayed roughly the same for the coming years, with minor adjustments. At the end of the fourth quarter of 2025, the fund owned over 13 million shares in the Chinese company.
Coupang, Inc. (NYSE:CPNG) is one of the most prominent China-based companies popular with elite hedge funds in the US. The firm recently showcased its AI Factory at GTC 2026, revealing that its Intelligent Cloud system, running on NVIDIA DGX SuperPODs, boosted GPU utilization from 65% to 95%. Hedge funds view this as a game-changer for margins. By using agentic AI to optimize 24-hour Rocket Delivery routes and warehouse robotics, funds bet that Coupang will achieve a 4% operating margin by 2028, significantly higher than its historical average. Hedge funds are also increasingly focused on Coupang’s Taiwan expansion, which is mirroring the early success of its South Korean buildout.
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