Dalal Street

Q1 2017 13F · by Mohnish Pabrai, founder

As of: Mar 31, 2017
Filed: May 12, 2017
US stock: $389M · prev $347M
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%

Moves5 since the prior filing

+6.7 pp in · −7.5 pp out

New 0 0.00 pp
Added 3 +6.69 pp
Trimmed 2 −7.48 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 4 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 25% a year, about 4.0 years per position

Low
Moderate
High

Top 5 positions96% of US stock

unresolved Fiat Chrysler Automobiles NV s added+4.85 pp added+4.8536.3%
unresolved General Mtrs Co added+0.21 pp added+0.2127.8%
GOOG Alphabet Inc. Class C trimmed−1.27 pp trimmed−1.2714.1%
AER Aercap Holdings N.V. added+1.63 pp added+1.639.7%
RACE Ferrari N.V. held held7.6%

Positions7 in this filing · 0 exited


unresolvedFiat Chrysler Automobiles NV s	36.31%	12,922,130	$141M	added+8%	+4.85 pp	10 q
unresolvedGeneral Mtrs Co	27.79%	6,053,822	$108M	added+9%	+0.21 pp	16 q
GOOGAlphabet Inc. Class C	14.12%	66,228	$55M	trimmed−4%	−1.27 pp	10 q
AERAercap Holdings N.V.	9.68%	819,185	$38M	added+22%	+1.63 pp	4 q
RACEFerrari N.V.	7.64%	398,138	$30M	held	—	5 q
LUVSouthwest Airlines Co.	4.16%	300,975	$16M	held	—	3 q
SRGSeritage Growth Properties Class A of beneficial interest, par value $0.01	0.30%	27,002	$1M	trimmed−95%	−6.21 pp	5 q

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001549575-17-000006
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet