Superworth

Mohnish Pabrai

Pabrai Investment FundsConcentrated deep value

Concentrated deep-value investor: heads I win, tails I don't lose much.

US stock portfolio
$326.7M
Positions
4
Quarter
Q2 2026
13F filed with the SEC
In its top 10
100%
Active share
100%
different from S&P SmallCap 600 Value
Turnover a year
40%
Median holding
2.8 yrs

How the picks did

Trailed its closest index (mostly the S&P 500 Value) by 18.6 pts a year over 5 years (20 quarters).

  • Pabrai Investment Funds−9.4% a year
  • S&P 500 Value9.2% a year
How this is measured

Each 13F report is held from the week it was filed to the week of the next, priced weekly without dividends, and compared with the price of an ETF tracking the index it was closest to that quarter. No shorts, cash, bonds or options. Small and delisted companies we do not price are left out, and a quarter counts only when 70% or more of the portfolio is priced. Past results say nothing about future ones.

13F shows US long stock positions only, filed up to 45 days after the quarter.

Largest holdings

Each tile's size is its share of the portfolio at the end of Q2 2026. Green was bought or added to that quarter, red trimmed.

HCC43.3%RIG30.5%AMR26.1%
Kaspi KZ JSC0.0%

What changed in Q2 2026

Bought

Its bets against S&P SmallCap 600 Value

Holds much more than the index

Holds much less, or none

By sector

  • Energy100%

Every position, Q2 2026

CompanyShare of portfolioValueChange
HCCWarrior MET Coal43.32%$141.5Mtrimmed
RIGTransocean30.53%$99.7Madded
AMRAlpha Metallurgical Resources26.11%$85.3Mtrimmed
Kaspi KZ JSC0.05%$147.5Knew

About these numbers

Files as Dalal Street LLC (Mohnish Pabrai before 2012).

A 13F lists a manager's US stock positions at the end of a quarter and is filed up to 45 days later. It leaves out shorts, cash, bonds and most non-US holdings, so it is a picture of the stock book, not the whole firm. The filings on SEC EDGAR