Dalal Street

Q2 2014 13F · by Mohnish Pabrai, founder

As of: Jun 30, 2014
Filed: Aug 13, 2014
US stock: $481M · prev $464M
Positions: 9 · prev 8
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%

Moves2 since the prior filing

+15.1 pp in · −13.7 pp out

New 1 +15.14 pp
Added 0 0.00 pp
Trimmed 1 −13.69 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 6 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 61% a year, about 1.6 years per position

Low
Moderate
High

Top 5 positions92% of US stock

unresolved Horsehead Hldg Corp held held24.1%
unresolved General Mtrs Co held held22.9%
BAC Bank of America Corporation held held15.6%
PKX POSCO Holdings Inc. new+15.14 pp new+15.1415.1%
C Citigroup Inc. held held13.9%

Positions9 in this filing · 0 exited


unresolvedHorsehead Hldg Corp	24.05%	6,333,296	$116M	held	—	5 q
unresolvedGeneral Mtrs Co	22.91%	5,935,015	$110M	held	—	5 q
BACBank of America Corporation	15.59%	4,875,000	$75M	held	—	5 q
PKXPOSCO Holdings Inc.	15.14%	977,634	$73M	new	+15.14 pp	new
CCitigroup Inc.	13.91%	1,420,000	$67M	held	—	5 q
CHKChesapeake Energy Corp	4.32%	668,000	$21M	trimmed−80%	−13.69 pp	5 q
GSGoldman Sachs Group Inc.	3.72%	106,863	$18M	held	—	5 q
BRK.BBERKSHIRE HATHAWAY Class B	0.18%	7,025	$889,000	held	—	2 q
GMGeneral Motors Company	0.18%	23,305	$846,000	held	—	2 q

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001549575-14-000006
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet