Dalal Street

Q4 2015 13F · by Mohnish Pabrai, founder

As of: Dec 31, 2015
Filed: Feb 12, 2016
US stock: $379M · prev $377M
Positions: 7 · prev 7
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%

Moves6 since the prior filing

+3.0 pp in · −4.0 pp out

New 1 +3.03 pp
Added 0 0.00 pp
Trimmed 4 +5.09 pp
Exited 1 −9.12 pp

The book

Very concentrated · behaves like 3 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 12% a year, about 8.3 years per position

Low
Moderate
High

Top 5 positions97% of US stock

unresolved Fiat Chrysler Automobiles NV s trimmed+2.56 pp trimmed+2.5650.9%
unresolved General Mtrs Co trimmed+4.73 pp trimmed+4.7325.7%
GOOG Alphabet Inc. Class C held held13.8%
unresolved Horsehead Hldg Corp held held3.4%
BRK.B BERKSHIRE HATHAWAY Class B new+3.03 pp new+3.033.0%

Positions7 in this filing · 1 exited


unresolvedFiat Chrysler Automobiles NV s	50.89%	13,787,920	$193M	trimmed−0%	+2.56 pp	5 q
unresolvedGeneral Mtrs Co	25.73%	5,986,448	$98M	trimmed−0%	+4.73 pp	11 q
GOOGAlphabet Inc. Class C	13.85%	69,188	$53M	held	—	5 q
unresolvedHorsehead Hldg Corp	3.43%	6,333,296	$13M	held	—	11 q
BRK.BBERKSHIRE HATHAWAY Class B	3.03%	87,006	$11M	new	+3.03 pp	new
unresolvedWl Ross Hldg Corp	2.42%	895,374	$9M	trimmed−40%	−2.00 pp	6 q
unresolvedWl Ross Hldg Corp	0.65%	247,870	$2M	trimmed−20%	−0.20 pp	6 q
PKXPOSCO Holdings Inc.	—	−982,280	—	exited	−9.12 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 5 unresolved
Accession: 0001549575-16-000012
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet