In the most recent 13F filing, Abrams Capital Management, L.P. (David Abrams) reported a portfolio valued at $6.17 billion, dominated by just five holdings that together account for nearly 80 % of total assets.
Abrams, a protégé of Seth Klarman, has long favored extreme concentration in durable, cash-rich businesses. His Q3 2025 filing continues that tradition, emphasizing long-term compounding over diversification.
Loar Holdings Inc. (LOAR) – 41.56 %
Abrams’s largest position by far is Loar Holdings, valued at $2.56 billion across 32 million shares. Representing over 40 % of total assets, Loar anchors the entire portfolio. The aerospace components supplier fits Abrams’s style perfectly—mission-critical products, recurring aftermarket revenue, and management focused on long-term value creation. The sheer scale of the stake signals conviction in Loar’s capacity to deliver steady growth regardless of market cycles.
Lithia Motors Inc. (LAD) – 12.76 %
The second-largest holding, Lithia Motors, totals 2.49 million shares worth $787 million (12.8 % of assets). Abrams added slightly to the position this quarter, underscoring continued faith in auto retail as a resilient, cash-flow-driven business. Lithia’s disciplined capital allocation and expanding dealership network make it a natural Abrams pick: steady returns, tangible assets, and owner-operator culture.
Asbury Automotive Group (ABG) – 8.54 %
With 2.16 million shares valued at $527 million, Asbury Automotive represents another major bet on auto-dealer consolidation. Abrams increased this holding modestly, reinforcing his sector-wide thesis that scale and operational efficiency will reward patient investors as smaller dealers exit the market.
Alphabet Inc. Class A (GOOGL) – 8.37 %
Abrams’s $516 million stake in Alphabet provides selective exposure to the digital economy. While Abrams rarely invests heavily in large-cap tech, Alphabet’s consistent free-cash-flow generation, fortress balance sheet, and shareholder returns fit his quality-at-a-reasonable-price framework. The position adds a growth counterweight to his more cyclical holdings.
Tempur Sealy International Inc. (TPX) – 7.99 %
Rounding out the top five, Tempur Sealy accounts for $493 million (8 % of assets). The mattress and bedding maker offers recurring consumer demand and durable brand power—hallmarks of Abrams’s preference for steady-earning, high-margin franchises.
Conclusion
David Abrams’s Q3 2025 filing underscores his unwavering focus on concentration and quality. The top five holdings—Loar, Lithia, Asbury, Alphabet, and Tempur Sealy—collectively define a portfolio built on durable cash flows and disciplined management. Each position embodies the Abrams playbook: own a few exceptional businesses, buy them well below intrinsic value, and hold patiently as fundamentals compound over time.
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