ABRAMS CAPITAL MANAGEMENT, L.P. Long-Term Concentrated

CIK: 0001358706 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $5,673,787 (100.0% shares, 0.0% debt)

Holdings (12)

Exited Positions (1)

CRCL CIRCLE INTERNET GROUP INC 0.6%

Value ($000) $36,460 Shares 275,000 Est. Cost $162.91 Unrealized -36.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CRCL	CIRCLE INTERNET GROUP INC	275,000	$36,460	0.6%	$162.91	-36.6%	—	172573107

Decreased Positions (3)

GOOGL ALPHABET INC 10.6%

Value ($000) $599,905 (+16.2%) Shares 1,916,630 (-9.8%) Est. Cost $109.14 Unrealized +161.7%

META META PLATFORMS INC 3.8%

Value ($000) $214,632 (-26.0%) Shares 325,155 (-17.6%) Est. Cost $136.16 Unrealized +390.1%

ET ENERGY TRANSFER L P 1.8%

Value ($000) $100,843 (-5.3%) Shares 6,115,417 (-1.5%) Est. Cost $4.92 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	1,916,630 (-9.8%)	$599,905 (+16.2%)	10.6%	$109.14	+161.7%	CAP STK CL A	02079K305
META	META PLATFORMS INC	325,155 (-17.6%)	$214,632 (-26.0%)	3.8%	$136.16	+390.1%	CL A	30303M102
ET	ENERGY TRANSFER L P	6,115,417 (-1.5%)	$100,843 (-5.3%)	1.8%	$4.92	—	COM UT LTD PTN	29273V100

Unchanged Positions (9)

LOAR LOAR HOLDINGS INC 38.4%

Value ($000) $2,179,416 Shares 32,050,240 Est. Cost $54.19 Unrealized +34.5%

CPNG COUPANG INC 5.4%

Value ($000) $307,094 Shares 13,017,964 Est. Cost $28.29 Unrealized +0.6%

LAD LITHIA MTRS INC 14.6%

Value ($000) $827,679 Shares 2,490,534 Est. Cost $114.03 Unrealized +178.5%

ABG ASBURY AUTOMOTIVE GROUP INC 8.8%

Value ($000) $501,217 Shares 2,155,492 Est. Cost $68.21 Unrealized +246.6%

SGI SOMNIGROUP INTERNATIONAL INC 9.1%

Value ($000) $518,193 Shares 5,804,136 Est. Cost $50.16 Unrealized +74.2%

NUVB NUVATION BIO INC 0.6%

Value ($000) $34,151 Shares 3,811,513 Est. Cost $11.18 Unrealized -44.6%

UHAL/B U HAUL HOLDING COMPANY 2.7%

Value ($000) $151,974 Shares 3,251,469 Est. Cost $57.91 Unrealized -15.9%

WTW WILLIS TOWERS WATSON PLC LTD 4.2%

Value ($000) $236,848 Shares 720,779 Est. Cost $109.67 Unrealized +197.7%

UHAL U HAUL HOLDING COMPANY 0.0%

Value ($000) $1,835 Shares 36,401 Est. Cost $35.95 Unrealized +48.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LOAR	LOAR HOLDINGS INC	32,050,240	$2,179,416	38.4%	$54.19	+34.5%	COM SHS	53947R105
CPNG	COUPANG INC	13,017,964	$307,094	5.4%	$28.29	+0.6%	CL A	22266T109
LAD	LITHIA MTRS INC	2,490,534	$827,679	14.6%	$114.03	+178.5%	COM	536797103
ABG	ASBURY AUTOMOTIVE GROUP INC	2,155,492	$501,217	8.8%	$68.21	+246.6%	COM	043436104
SGI	SOMNIGROUP INTERNATIONAL INC	5,804,136	$518,193	9.1%	$50.16	+74.2%	COM	88023U101
NUVB	NUVATION BIO INC	3,811,513	$34,151	0.6%	$11.18	-44.6%	COM CL A	67080N101
UHAL/B	U HAUL HOLDING COMPANY	3,251,469	$151,974	2.7%	$57.91	-15.9%	COM SER N	023586506
WTW	WILLIS TOWERS WATSON PLC LTD	720,779	$236,848	4.2%	$109.67	+197.7%	SHS	G96629103
UHAL	U HAUL HOLDING COMPANY	36,401	$1,835	0.0%	$35.95	+48.0%	COM	023586100