Dalal Street

Q3 2016 13F · by Mohnish Pabrai, founder

As of: Sep 30, 2016
Filed: Nov 10, 2016
US stock: $338M · prev $296M
Positions: 8 · prev 7
Options notional: $0
Documents: 1· no amendments

Picture98.0% US stock

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

US stock listed on a US exchange 98.0%
Foreign stock not listed in the US 2.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves5 since the prior filing

+7.9 pp in · −10.3 pp out

New 2 +7.92 pp
Added 0 0.00 pp
Trimmed 2 −6.73 pp
Exited 1 −3.54 pp

The book

Very concentrated · behaves like 6 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 32% a year, about 3.2 years per position

Low
Moderate
High

Top 5 positions85% of US stock

unresolved Fiat Chrysler Automobiles NV s trimmed−2.41 pp trimmed−2.4126.1%
unresolved General Mtrs Co held held24.7%
GOOG Alphabet Inc. Class C held held15.9%
RACE Ferrari N.V. trimmed−4.32 pp trimmed−4.3210.4%
SRG Seritage Growth Properties Class A of beneficial interest, par value $0.01 held held7.9%

Positions8 in this filing · 1 exited


unresolvedFiat Chrysler Automobiles NV s	26.07%	13,771,930	$88M	trimmed−0%	−2.41 pp	8 q
unresolvedGeneral Mtrs Co	24.71%	5,984,447	$84M	held	—	14 q
GOOGAlphabet Inc. Class C	15.90%	69,188	$54M	held	—	8 q
RACEFerrari N.V.	10.37%	675,138	$35M	trimmed−37%	−4.32 pp	3 q
SRGSeritage Growth Properties Class A of beneficial interest, par value $0.01	7.93%	529,113	$27M	held	—	3 q
AERAercap Holdings N.V.	7.10%	624,160	$24M	held	—	2 q
LUVSouthwest Airlines Co.	5.89%	512,220	$20M	new	+5.89 pp	new
unresolvedBerkshire Hathaway Inc DEL	2.03%	47,400	$7M	new	+2.03 pp	new
BRK.BBERKSHIRE HATHAWAY Class B	—	−72,500	—	exited	−3.54 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 3 unresolved
Accession: 0001549575-16-000021
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

A row was set aside — invalid CUSIP 84670702
A security outside the official 13F list — CUSIP 84670702 not on the Official 13(f) List for 2016-09-30