Mohnish Pabrai
"Heads I win; tails I don't lose much." Bets big on a few cheap, well-understood businesses with a thick margin of safety — embracing high uncertainty but not high risk — then waits.
An Indian-American investor who, after selling his IT firm TransTech in 1999, set up Pabrai Funds modeled on Buffett's early partnerships — and openly calls his method "shamelessly cloning" Buffett and Munger. In 2007 he and Guy Spier won the charity lunch with Buffett for ~$650K. Author of The Dhandho Investor.
Pabrai Funds files a 13F (≈45-day lag). Extremely concentrated — often just 3–10 names, lately heavy in out-of-favour cyclicals (met coal, offshore drilling). Holdings in India and elsewhere are not in the U.S. 13F.
Holdings & weights
Q1 2026 · 13F (as of 31 Mar 2026)Weights are by market value, from real 13F / daily disclosure. This is a snapshot and will change — see live: Live 13F weights & activity on dataroma
A U.S. metallurgical-coal leader — his biggest recent contrarian cyclical bet.
Analyze through a master's lensAn offshore-drilling leader; a bet on the deepwater services cycle.
Analyze through a master's lensAppalachian met coal — same out-of-favour-cyclicals theme as HCC.
Analyze through a master's lensIn their own words
Heads, I win; tails, I don't lose much.
I'm a shameless cloner — if there's a great idea out there, I'll just copy it.
Where to follow them
Primary sources. Read the original — don't settle for second-hand summaries.
Run any stock you care about through the "Dhandho · Low Risk, High Return" lens.
Keep exploring
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