ABRAMS BISON INVESTMENTS, LLC

CIK 0001317588 · Q1 2026

13F Equity AUM

$2.3B

+71.3% QoQ

Positions

+1 QoQ

AUM Rank

#1,648

Top 13%

Skill Alpha (FF)

+4.6%/yr^ns

No Clear Edge

Rank #655 · Top 8%

vs S&P +4.1%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 76.7%Top 10: 99.8%Top 20: 100.0%

SUNBELT RENTALS HOLDINGS INC35.4%

SUX18.2%

AMAT10.4%

SN6.6%

URBN6.1%

TFX5.2%

NYT5.1%

BFAM5.0%

ACHC4.4%

COF3.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Unclassified35.4%

Consumer Discretionary18.2%

Consumer Cyclical17.7%

Technology10.4%

Healthcare9.6%

Communication Services5.1%

Financial Services3.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 11Median: 5.18%Avg: 9.09%

0–0.5%

1(0.2%)

0.5–1%

0(0.0%)

1–3%

0(0.0%)

3–5%

2(7.8%)

5%+

8(92.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 11Unique: 0vs 20 funds

0.2%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

0.3%

VANGUARD CAPITAL MANAGEMENT LLC

0.3%

GEODE CAPITAL MANAGEMENT, LLC

0.3%

STATE STREET CORP

0.3%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.4%

MORGAN STANLEY

0.2%

JPMORGAN CHASE & CO

0.2%

BANK OF AMERICA CORP /DE/

0.2%

FMR LLC

0.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New2Increased4Decreased2Exited1

New Positions

SUNBELT RENTALS HOLD…35.4%

+12.6M

BFAM5.0%

+1.4M

Increased

URBN6.1%

+537K(+32%)

SN6.6%

+208K(+17%)

TFX5.2%

+31K(+3%)

SUX18.2%

+15K(+1%)

Decreased

AMAT10.4%

-188,000(-21%)

COF3.4%

-54,000(-11%)

Exited

HCA

-165,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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