David Abrams' Abrams Capital Management Portfolio Q2 2025 Update: Essential Holdings and Portfolio Changes

David Abrams' Abrams Capital Management portfolio has been analyzed in a series of articles. The latest update is based on Abrams' regulatory 13F Form filed on 08/08/2025. The analysis covers the changes made to Abrams' portfolio on a quarterly basis.

David Abrams' Abrams Capital Management portfolio, as detailed in the latest 13F Form filed on 08/08/2025, shows notable changes in the second quarter of 2025. The portfolio value increased from $5.64 billion to $6.11 billion, with 12 holdings remaining steady. The top three stakes account for approximately 67% of the portfolio, while the top five holdings make up about 80%.

Key changes include the addition of Circle Internet Group (CRCL), a small 0.82% stake established during the quarter, following its IPO on June 5th. The stock has since traded between $64 and $299, currently at $163. Cantaloupe Inc. (CTLP), with a small ~1% position, was sold this quarter at prices between $7.01 and $11.03, following an acquisition by 365 Retail Markets. Loar Holdings (LOAR), the largest position at ~45%, saw a ~14% reduction this quarter at prices between $67 and $100.

Lithia Motors (LAD), currently the second-largest position at ~14%, saw a minor ~2% stake increase during the last quarter. Asbury Automotive (ABG), with an 8% stake, and Somnigroup Intl. (SGI), with a 6.51% stake, also saw increases. Coupang Inc. (CPNG) and Alphabet Inc. (GOOG) experienced significant gains, with CPNG increasing by ~120% and GOOG by ~20% in the previous quarters. Meta Platforms (META) saw a ~30% reduction this quarter at prices between $553 and $741, currently trading at ~$790.

Willis Towers Watson plc (WTW) and U-Haul Holding Company (UHAL) saw minor reductions. Energy Transfer LP (ET) experienced a significant reduction, with the stake decreasing by two-thirds this quarter at prices between $16.83 and $21.45. Nuvation Bio (NUVB), following a merger, remains a small position at 0.12% of the portfolio.

This update reflects Abrams' strategy of maintaining a diversified portfolio with a focus on growth and long-term investments.

References:
[1] https://seekingalpha.com/article/4812861-tracking-david-abrams-abrams-capital-management-portfolio-q2-2025-update