Pabrai Investments (Dalal Street)

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Mohnish Pabrai's Pabrai Investments (Dalal Street) reported 5 stock positions worth $336.9 million. Its top holding was Warrior Met Coal (HCC) at 34.0% of the portfolio, followed by Alpha Metallurgical Resource (AMR, 25.9%) and Transocean (RIG, 22.6%). Compared with Q2 2025, it opened 1 new position, sold out of 1, added to 2 and reduced 2. The biggest buy was a new position in Transocean (RIG) and the biggest sale Noble (NE, shares −86%).

Most Recent 13F
Q2 2026
Notable People
Mohnish Pabrai
Location
WEST LAKE HILLS, TX
CIK
0001549575
Portfolio Value
$336.9M (Q3 2025)
SEC Filing
0001549575-25-000012 ↗ filed Nov 13, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $215.7M Q1 2024 Q2 2024: $232.8M Q2 2024 Q3 2024: $246.9M Q3 2024 Q4 2024: $253.4M Q4 2024 Q1 2025: $234.8M Q1 2025 Q2 2025: $271.6M Q2 2025 Q3 2025: $336.9M $336.9M Q3 2025 Q4 2025: $402.0M Q4 2025 Q1 2026: $422.9M Q1 2026 Q2 2026: $326.7M Q2 2026

Holdings 5 stocks · $336.9M
HCC Warrior Met Coal Inc. 34.00% 1,799,831 $114.5M Add +0.0%
AMR Alpha Metallurgical Resource 25.91% 532,000 $87.3M Add +15.6%
RIG Transocean Ltd. 22.64% 24,442,332 $76.3M New
VAL Valaris Ltd. 15.44% 1,066,255 $52.0M Reduce -43.4%
NE Noble Corp. PLC 2.01% 239,000 $6.8M Reduce -86.2%

Portfolio Sells Q2 2025 → Q3 2025
NE Noble Corp. PLC Reduce -86.2% 2.01% −14.89
VAL Valaris Ltd. Reduce -43.4% 15.44% −13.77
AN Autonation Inc. Sold out 0.00% −4.46

Portfolio Buys Q2 2025 → Q3 2025
RIG Transocean Ltd. New 22.64% +22.64
AMR Alpha Metallurgical Resource Add +15.6% 25.91% +6.85
HCC Warrior Met Coal Inc. Add +0.0% 34.00% +3.63

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$326.7MHCC, RIG, AMR, KSPI
Q1 2026 3$422.9MHCC, RIG, AMR
Q4 2025 4$402.0MHCC, RIG, AMR, VAL
Q3 2025 5$336.9MHCC, AMR, RIG, VAL, NE
Q2 2025 5$271.6MHCC, VAL, AMR, NE, AN
Q1 2025 4$234.8MHCC, VAL, AMR, NE
Q4 2024 3$253.4MAMR, HCC, CONSOL ENERGY INC
Q3 2024 5$246.9MAMR, CONSOL ENERGY INC, HCC, ARCH, DAC
Q2 2024 4$232.8MAMR, ARCH, HCC, CONSOL ENERGY INC
Q1 2024 4$215.7MAMR, CONSOL ENERGY INC, HCC, ARCH