13F filer · reported 2026-Q1 · filed 2026-05-14 · Δ vs 2025-Q4 · US-listed long positions only 13F portfolio $423M · Positions 3 · Top 10 100.0% · Effective N 2.9 Filer13F 2026-Q1 | CIK1549575 | Reported quarter2026-Q1 | | Prior quarter2025-Q4 | Filed2026-05-14 | | Reported value$423M | Positions3 |
Authorized signatory: Mohnish Pabrai · Managing Member — the person who SIGNED this filer's latest 13F, frequently a compliance officer, general counsel or CFO, and not necessarily the portfolio manager. Owners & officers (ADV Schedule A): PABRAI, MOHNISH, NONE (MANAGING MEMBER) · ENGLEMAN, KIMBERLY, ANNE (CHIEF COMPLIANCE OFFICER) · MISSMAR, FAHED, SAD (CHIEF FINANCIAL OFFICER) · MOHNISH PABRAI TEXAS TRUST, DATED JANUARY 11, 2024 (OWNER AND MEMBER) Reported 2026-Q1 · filed 2026-05-14ⓘ Implied return1.14y vs SPY | Cumulative+108.5% | CAGR+90.3% | | vs SPY+68.5pp | Vol (ann.)89.9% | | Sharpe1.09 | Max drawdown−44.4% | | Beta0.62 | Avg coverage100% | | Quarters replayed3 | |
2025-06-30 → 2026-08-21 · HYPOTHETICAL replication, not actual returnsⓘ Contribution6 of 6 names | Ticker | Avg wt | Return | Contrib. |
|---|
| HCC | 37.3% | +80.5% | +28.68pp | | RIG | 25.3% | +94.7% | +24.04pp | | AMR | 26.4% | +48.5% | +12.31pp | | VAL · exited | 8.3% | +78.5% | +6.74pp | | NE · exited | 2.2% | +70.3% | +0.11pp | | AN · exited | 0.5% | −8.8% | −0.00pp |
Carino-linked; contributions sum to the book return — modeled, not actual results. 2025-08-24 → 2026-08-24 · book +71.9% · SPY +20.0% · largest absolute contributors first · HYPOTHETICALⓘ Top holdings3 of 3 · 100.0% of book | Holding | Weight | Value | Δ shares |
|---|
| HCC | 39.9% | $169M | +0.6% | | RIG | 32.0% | $135M | −24.6% | | AMR | 28.1% | $119M | +6.8% |
Weights as filed for 2026-Q1 · Δ vs 2025-Q4ⓘ Sector split1 sectors | Sector | N | Weight |
|---|
| Energy | 3 | 100.0% |
SIC-derived, not GICSⓘ Sector history8 of 52 quarters | Sector | 2024-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Energy | 66.8% | 64.0% | 75.0% | 100.0% | 95.5% | 100.0% | 100.0% | 100.0% | | Information Technology | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Real Estate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Financials | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Communication Services | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Consumer Discretionary | 0.0% | 0.0% | 0.0% | 0.0% | 4.5% | 0.0% | 0.0% | 0.0% | | Industrials | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Materials | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Unclassified | 33.2% | 36.0% | 25.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | | Top-10 concentration | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
SIC-derived, not GICS · 100% of the latest book classified · share of the filed book, per quarterⓘ Basis & disclosures - As filed · positions and weights exactly as the 13F states them · nothing imputed · absent “—”
- 13F is US-listed long only · filed up to 45 days after quarter-end · a LOWER bound on what this filer manages, never a total — shorts, options, cash, bonds and non-US listings are outside it
- As filed — the holdings and weights are the 13F itself; no return engine produced them
- Implied returns are a replication, not a track record · the filed book valued daily and rebalanced to each new filing · no fees, no timing, and nothing a 13F does not carry
- Not investment advice · no recommendation, forecast or offer · past ≠ future · this is a filer's public record, not a solicitation
- SEC Form 13F · SEC Form ADV · licensed end-of-day prices · spzco.com/methodology
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