David Abrams graduated from University of Pennsylvania with a B.A. degree in History. Prior to forming Abrams Capital Management in 1999, Abrams worked at Seth Klarman’s Baupost Group for 10 years. In the nearly 12 years since Abrams started his fund he has achieved an annualized return of around 20 percent (net of fees).
Abrams completely sold out Lubrizol and Iron Mountain. He initiated new positions in 3 companies; Lamar Advertising (LAMR), McGraw Hill (MHP) and RBS (RBS). Respectively, the values of the companies were about $76M, $42M and $32M at the end of June. All three have since had negative returns. Abrams increased its holdings in Teva Pharmaceutical (TEVA) by more than 1000%. Abrams Capital Management had about $70M vested with Teva Pharmaceutical at the end of June. Here’s a rundown of David Abrams’ newest stock positions.