Dalal Street

Q4 2016 13F · by Mohnish Pabrai, founder

As of: Dec 31, 2016
Filed: Feb 13, 2017
US stock: $347M · prev $338M
Positions: 7 · 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%

Moves6 since the prior filing

+0.9 pp in · +1.0 pp out

New 0 0.00 pp
Added 1 +0.95 pp
Trimmed 4 +3.01 pp
Exited 1 −2.03 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 2.3% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions89% of US stock

unresolved Fiat Chrysler Automobiles NV s trimmed+5.39 pp trimmed+5.3931.5%
unresolved General Mtrs Co trimmed+2.87 pp trimmed+2.8727.6%
GOOG Alphabet Inc. Class C held held15.4%
AER Aercap Holdings N.V. added+0.95 pp added+0.958.1%
RACE Ferrari N.V. trimmed−3.68 pp trimmed−3.686.7%

Positions7 in this filing · 1 exited


unresolvedFiat Chrysler Automobiles NV s	31.46%	11,971,930	$109M	trimmed−13%	+5.39 pp	9 q
unresolvedGeneral Mtrs Co	27.58%	5,578,837	$96M	trimmed−7%	+2.87 pp	15 q
GOOGAlphabet Inc. Class C	15.39%	69,188	$53M	held	—	9 q
AERAercap Holdings N.V.	8.05%	671,685	$28M	added+8%	+0.95 pp	3 q
RACEFerrari N.V.	6.69%	398,138	$23M	trimmed−41%	−3.68 pp	4 q
SRGSeritage Growth Properties Class A of beneficial interest, par value $0.01	6.51%	529,113	$23M	held	—	4 q
LUVSouthwest Airlines Co.	4.32%	300,975	$15M	trimmed−41%	−1.57 pp	2 q
unresolvedBerkshire Hathaway Inc DEL	—	−47,400	—	exited	−2.03 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001549575-17-000003
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet