Fannie Mae-No Politics (FNMA)

[Blushing green]

David Abrams founded Abrams Capital Management in 1999. Prior to that, he worked at Seth Klarman's Baupost Group for ten years. His investment style is in the same mold as Klarman's: bottom-up value investing with no leverage, plenty of cash, mostly long-only and a conservative allocation to equities. Assets Under Management (AUM) is at around $8B and the allocation to 13F US listed equity holdings are at less than $1.5B. The current cash-allocation is well over one-third with the remaining in real estate, private equity, and other unlisted securities. The firm is also known to have large positions in Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC). Annualized returns since inception are known to be well over 15% although exact figures are not forthcoming due to the secretive nature of their operations.

http://seekingalpha.com/article/3186676-tracking-david-abrams-abrams-capital-management-portfolio-q1-2015-update