As of September 30, 2024, Mohnish Pabrai's investment portfolio primarily consists of five stocks, with a significant concentration in the coal and metallurgical resource sectors.
His reported holdings are detailed in the table below:
| Stock Ticker | Company Name | Portfolio Percentage |
|---|---|---|
| AMR | Alpha Metallurgical Resource | 45.89% |
| CEIX | Consol Energy Inc | 32.66% |
| HCC | Warrior Met Coal Inc | 18.08% |
| ARCH | Arch Resources Inc | 1.73% |
| DAC | Danaos Corp | 1.64% |
Overview of Pabrai's Holdings
Mohnish Pabrai is known for his focused investment approach, often resulting in a highly concentrated portfolio. His Q3 2024 holdings exemplify this strategy, showing a strong conviction in a few selected companies:
- Dominant Allocation: A substantial majority of his portfolio, over 98%, is allocated to just three companies: Alpha Metallurgical Resource (AMR), Consol Energy Inc (CEIX), and Warrior Met Coal Inc (HCC). These companies are all deeply rooted in the coal and metallurgical resource industries.
- Sector Focus: The heavy allocation to coal and related resources indicates a strong thematic bet on this sector's future performance or current valuation.
- Diversification Element: While heavily concentrated, Danaos Corp (DAC), a shipping company, provides a minor allocation outside his primary sector focus, although it represents a very small portion of his overall portfolio.
This composition reflects Pabrai's value investing philosophy, where he typically identifies and invests heavily in businesses he believes are significantly undervalued relative to their intrinsic worth.
