Insights into Pabrai's Latest 13F Filings and Key Portfolio Adjustments
Mohnish Pabrai (Trades, Portfolio), the Managing Partner of Pabrai Investment Funds, is renowned for his focused value investing approach. In a 2019 GuruFocus interview, Pabrai highlighted his strategy of investing in markets like India, Turkey, and South Korea, which he believed offered superior opportunities compared to the U.S. Despite this, his U.S.-based portfolio, though a smaller component of his overall assets under management, reflects his preference for undervalued smaller companies. Pabrai's investment style is characterized by a concentrated portfolio, often focusing on industries where he sees long-term value.
Summary of New Buys
In the second quarter of 2024, Mohnish Pabrai (Trades, Portfolio) did not initiate any new positions within his U.S. portfolio, indicating a period of either contentment with existing holdings or a strategic pause in new acquisitions.
Key Position Increases
Mohnish Pabrai (Trades, Portfolio) increased his stakes in three stocks during the quarter. Notably:
- Arch Resources Inc (ARCH, Financial) saw an addition of 252,080 shares, bringing the total to 392,388 shares. This adjustment, a 179.66% increase in share count, had a significant 16.48% impact on the current portfolio, with a total value of $59,733,230.
- Alpha Metallurgical Resources Inc (AMR, Financial) also saw an increase, with an additional 44,603 shares, bringing the total to 448,960. This adjustment represents an 11.03% increase in share count, with a total value of $125,946,800.
Summary of Sold Out Positions
There were no complete sell-offs in Pabrai's portfolio this quarter, suggesting a hold strategy on existing investments.
Key Position Reduces
Pabrai reduced his position in one stock:
- CONSOL Energy Inc (CEIX, Financial) was reduced by 193,969 shares, resulting in a 53% decrease in shares and a 7.53% impact on the portfolio. The stock traded at an average price of $90.91 during the quarter and has returned 10.38% over the past three months and -5.01% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Mohnish Pabrai (Trades, Portfolio)'s portfolio included four stocks. The top holdings were:
- 54.09% in Alpha Metallurgical Resources Inc (AMR, Financial)
- 25.66% in Arch Resources Inc (ARCH, Financial)
- 12.71% in Warrior Met Coal Inc (HCC, Financial)
- 7.54% in CONSOL Energy Inc (CEIX, Financial)
The holdings are mainly concentrated in two of all the 11 industries: Basic Materials and Energy.
This detailed review of Mohnish Pabrai (Trades, Portfolio)'s Q2 2024 13F filings reveals a strategic focus on increasing positions in key energy and materials stocks, particularly Arch Resources Inc, which now represents a significant portion of his U.S. portfolio. These moves underscore Pabrai's confidence in these sectors and his continued commitment to a concentrated investment strategy.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
