Great investors · Mohnish Pabrai · Q3 2025
What Mohnish Pabrai bought and sold in Q3 2025
Pabrai Investment Funds (Dalal Street) 13F portfolio as of Sep 30, 2025: 5 positions worth $337M. Largest: HCC, AMR, RIG, VAL. Filed with the SEC on Nov 13, 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 Q3 2025
- NewTransoceanRIG+22.6 pp
- IncreasedAlpha Metallurgical ResourcesAMR+3.5 pp
Sells in Q3 2025
- ReducedNobleNE−12.5 pp
- ReducedValarisVAL−11.8 pp
- Sold outAutonationAN−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 Q3 2025 13F lists 5 lines of US-listed securities worth $337M; the largest is HCC at 34.0% of the portfolio. It was accepted by the SEC on Nov 13, 2025 at 6:50 AM ET.
Against the previous quarter, it opened 1 position (RIG), closed 1 (AN), added to 1 (AMR) and trimmed 2 (VAL and NE). 1 line shows the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Warrior Met Coal HCC | 1.8 M | $115M | 34.0% | no change |
| 2 | Alpha Metallurgical Resources AMR | 532,000 | $87.3M | 25.9% | +16% |
| 3 | Transocean RIG | 24.4 M | $76.3M | 22.6% | new |
| 4 | Valaris VAL | 1.1 M | $52.0M | 15.4% | −43% |
| 5 | Noble NE | 239,000 | $6.8M | 2.01% | −86% |
Positions it closed (1)
- Autonation ANwas 4.46% · 61,000 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.