Great investors · Mohnish Pabrai · Q1 2025
What Mohnish Pabrai bought and sold in Q1 2025
Pabrai Investment Funds (Dalal Street) 13F portfolio as of Mar 31, 2025: 4 positions worth $235M. Largest: HCC, VAL, AMR, NE. Filed with the SEC on May 14, 2025.
The 13F is filed by Pabrai Investment Funds (Dalal Street), not by Mohnish Pabrai personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q1 2025
- NewValarisVAL+22.1 pp
- NewNobleNE+16.2 pp
- IncreasedWarrior Met CoalHCC+1.8 pp
Sells in Q1 2025
- Sold outCore Natural ResourcesCNR−25.0 pp
- ReducedAlpha Metallurgical ResourcesAMR−3.6 pp
5 companies with material moves, out of 5 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Pabrai Investment Funds (Dalal Street)'s Q1 2025 13F lists 4 lines of US-listed securities worth $235M; the largest is HCC at 36.6% of the portfolio. It was accepted by the SEC on May 14, 2025 at 7:40 AM ET.
Against the previous quarter, it opened 2 positions (VAL and NE), closed 1 (CNR), added to 1 (HCC) and trimmed 1 (AMR).
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Warrior Met Coal HCC | 1.8 M | $85.9M | 36.6% | +5.6% |
| 2 | Valaris VAL | 1.4 M | $56.0M | 23.9% | new |
| 3 | Alpha Metallurgical Resources AMR | 414,616 | $51.9M | 22.1% | −15% |
| 4 | Noble NE | 1.7 M | $41.0M | 17.4% | new |
Positions it closed (1)
- Core Natural Resources CNRwas 25.0% · 828,182 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Pabrai Investment Funds (Dalal Street)'s 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.