Dalal Street

Q1 2016 13F · by Mohnish Pabrai, founder

As of: Mar 31, 2016
Filed: May 12, 2016
US stock: $345M · prev $379M
Positions: 8 · 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%

Moves7 since the prior filing

+23.7 pp in · −22.7 pp out

New 2 +23.07 pp
Added 1 +0.59 pp
Trimmed 3 −19.29 pp
Exited 1 −3.43 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 20% a year, about 5.0 years per position

Low
Moderate
High

Top 5 positions94% of US stock

unresolved Fiat Chrysler Automobiles NV s trimmed−18.69 pp trimmed−18.6932.2%
unresolved General Mtrs Co held held23.7%
RACE Ferrari N.V. new+15.39 pp new+15.3915.4%
GOOG Alphabet Inc. Class C held held14.9%
SRG Seritage Growth Properties Class A of beneficial interest, par value $0.01 new+7.68 pp new+7.687.7%

Positions8 in this filing · 1 exited


unresolvedFiat Chrysler Automobiles NV s	32.20%	13,785,930	$111M	trimmed−0%	−18.69 pp	6 q
unresolvedGeneral Mtrs Co	23.70%	5,986,448	$82M	held	—	12 q
RACEFerrari N.V.	15.39%	1,277,192	$53M	new	+15.39 pp	new
GOOGAlphabet Inc. Class C	14.93%	69,188	$52M	held	—	6 q
SRGSeritage Growth Properties Class A of beneficial interest, par value $0.01	7.68%	530,653	$27M	new	+7.68 pp	new
unresolvedWl Ross Hldg Corp	3.01%	990,534	$10M	added+11%	+0.59 pp	7 q
BRK.BBERKSHIRE HATHAWAY Class B	2.98%	72,506	$10M	trimmed−17%	−0.05 pp	2 q
unresolvedWl Ross Hldg Corp	0.10%	35,890	$360,000	trimmed−86%	−0.55 pp	7 q
unresolvedHorsehead Hldg Corp	—	−6,333,296	—	exited	−3.43 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 4 unresolved
Accession: 0001549575-16-000015
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet