Dalal Street

Q4 2013 13F · by Mohnish Pabrai, founder

As of: Dec 31, 2013
Filed: Feb 12, 2014
US stock: $544M · prev $460M
Positions: 6 · prev 6
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves4 since the prior filing

+6.3 pp in · −2.7 pp out

New 0 0.00 pp
Added 2 +6.34 pp
Trimmed 2 −2.73 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 5.7% a year, about 17.5 years per position

Low
Moderate
High

Top 5 positions97% of US stock

unresolved General Mtrs Co added+1.21 pp added+1.2125.2%
BAC Bank of America Corporation trimmed−1.33 pp trimmed−1.3321.2%
unresolved Horsehead Hldg Corp added+5.13 pp added+5.1318.9%
CHK Chesapeake Energy Corp held held16.3%
C Citigroup Inc. held held14.9%

Positions6 in this filing · 0 exited


unresolvedGeneral Mtrs Co	25.20%	5,929,529	$137M	added0%	+1.21 pp	3 q
BACBank of America Corporation	21.19%	7,401,000	$115M	trimmed−1%	−1.33 pp	3 q
unresolvedHorsehead Hldg Corp	18.87%	6,333,296	$103M	added+25%	+5.13 pp	3 q
CHKChesapeake Energy Corp	16.31%	3,268,145	$89M	held	—	3 q
CCitigroup Inc.	14.95%	1,560,000	$81M	held	—	3 q
GSGoldman Sachs Group Inc.	3.48%	106,863	$19M	trimmed−25%	−1.40 pp	3 q

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001546927-14-000056
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet