10 Best Cheap Stocks To Buy Now According To Billionaire Abrams
David Abrams‘ hedge fund, which managed to outperform the broader market index with a 15% average return in the first fifteen years since inception, saw strong share price gains from the majority of its top ten holdings during the pandemic year. The $10 billion hedge fund manager has made only a few but smart changes in its equity portfolio during 2020. Only two stocks including TransDigm Group (NYSE: TDG) Incorporated and Energy Transfer Limited (NYSE: ET) met the buying criteria set by David Abrams.
The self-made billionaire started 2021 with 17 stock positions. His hedge fund Abrams Capital Management has extended the strategy of holding large positions in few companies, with the top three positions represented 38% and the top ten holdings accounted for 87% of the overall portfolio based on the latest 13F filings. However, he has spread investments across several sectors including communications, consumer discretionary, healthcare, Utilities, industrials and transports. Abrams’ strategies are working because seven out of his top 10 stock positions outperformed the broader market index so far in 2020.