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Hedge Fund Manager Mohnish Pabrai Buys Bank Of America, Wells Fargo, Goldman Sachs, Sells Posco, Air Transport Services
Posted by: gurufocus (IP Logged)
Date: November 14, 2011 03:41PM

Hedge fund manager Mohnish Pabrai just reported his third quarter portfolio. The new position he initiated in the third quarter is Bank of America. As a close Buffett follower, he might have got this idea from Buffett. He also added to Well Fargo, which is the largest bank owned by Warren Buffett.

Correction:
Mohnish Pabrai made an amended filing, showing that he did not sell out PKX. He sold 94% of the shares and still owns 4301 shares.

Mohnish Pabrai also buys The Goldman Sachs Group Inc., Wells Fargo & Co. Wt, sells Posco Ads, Air Transport Services Group Inc, Cresud S.a.c.i.f. Y A., Harvest Natural Resources Inc. during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, Pabrai Mohnish. As of 09/30/2011, Pabrai Mohnish owns 16 stocks with a total value of $260 million. These are the details of the buys and sells.

This is the portfolio chart of Mohnish Pabrai. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Mohnish Pabrai's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Mohnish+Pabrai

This is the sector weightings of his portfolio:

Financials 58%
Basic Materials 33.7%
Consumer Goods 4.3%
Consumer Services 2.2%
Telecom 0.6%
Not Assigned 0.3%
Industrials 0.2%
Oil & Gas 0.2%


These are the top 5 holdings of Mohnish Pabrai

  1. Bank Of America Corp. (BAC) - 7,053,551 shares, 16.6% of the total portfolio. New Position
  2. Brookfield Infrastructure Partners L.P. (BIP) - 1,767,960 shares, 16.6% of the total portfolio. Shares reduced by 0.1%
  3. Potash Corp. Of Saskatchewan (POT) - 796,000 shares, 13.3% of the total portfolio. Shares reduced by 19.99%
  4. Brookfield Office Properties (BPO) - 2,359,215 shares, 12.5% of the total portfolio.
  5. Wells Fargo & Co. (WFC) - 1,225,101 shares, 11.4% of the total portfolio. Shares added by 227.2%


New Purchase: Bank Of America Corp. (BAC)

Mohnish Pabrai initiated holdings in Bank Of America Corp.. His purchase prices were between $6.06 and $11, with an estimated average price of $8.26. The impact to his portfolio due to this purchase was 16.63%. His holdings were 7,053,551 shares as of 09/30/2011. Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $62.93 billion; its shares were traded at around $6.21 with and P/S ratio of 0.47. The dividend yield of Bank Of America Corp. stocks is 0.64%.

Sold Out: Posco Ads (PKX)

Mohnish Pabrai sold out his holdings in Posco Ads. His sale prices were between $77.39 and $112.41, with an estimated average price of $97.8. POSCO, formerly known as Pohang Iron & Steel Company Ltd. Posco Ads has a market cap of $29.03 billion; its shares were traded at around $83.25 with and P/S ratio of 0.53. The dividend yield of Posco Ads stocks is 2.25%. Posco Ads had an annual average earnings growth of 13.9% over the past 10 years.

Added: Wells Fargo & Co. (WFC)

Mohnish Pabrai added to his holdings in Wells Fargo & Co. by 227.2%. His purchase prices were between $22.88 and $29.38, with an estimated average price of $25.85. The impact to his portfolio due to this purchase was 7.91%. His holdings were 1,225,101 shares as of 09/30/2011. Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through stores, its Internet site and other distribution channels across North America as well as internationally. Wells Fargo & Co. has a market cap of $135.43 billion; its shares were traded at around $25.65 with a P/E ratio of 9.5 and P/S ratio of 1.45. The dividend yield of Wells Fargo & Co. stocks is 1.87%. Wells Fargo & Co. had an annual average earnings growth of 5.4% over the past 10 years.

Added: The Goldman Sachs Group Inc. (GS)

Mohnish Pabrai added to his holdings in The Goldman Sachs Group Inc. by 25.6%. His purchase prices were between $93.98 and $137.6, with an estimated average price of $117.77. The impact to his portfolio due to this purchase was 2.15%. His holdings were 289,933 shares as of 09/30/2011. Goldman Sachs is a global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments, and high net worth individuals. The Goldman Sachs Group Inc. has a market cap of $51.42 billion; its shares were traded at around $101.66 with a P/E ratio of 15.98 and P/S ratio of 1.31. The dividend yield of The Goldman Sachs Group Inc. stocks is 1.38%. The Goldman Sachs Group Inc. had an annual average earnings growth of 9.8% over the past 10 years.

Added: Wells Fargo & Co. Wt (WFC.WS)

Mohnish Pabrai added to his holdings in Wells Fargo & Co. Wt by 286.58%. His purchase prices were between $7.5 and $9.94, with an estimated average price of $8.77. The impact to his portfolio due to this purchase was 0.25%. His holdings were 113,785 shares as of 09/30/2011. .

Reduced: Air Transport Services Group Inc (ATSG)

Mohnish Pabrai reduced to his holdings in Air Transport Services Group Inc by 89.13%. His sale prices were between $4.39 and $6.96, with an estimated average price of $5.33. The impact to his portfolio due to this sale was -2.75%. Mohnish Pabrai still held 134,347 shares as of 09/30/2011. AIR TRANSPORT SERVICES GROUP, INC. is a provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Air Transport Services Group Inc has a market cap of $345.97 million; its shares were traded at around $5.4 with a P/E ratio of 7.2 and P/S ratio of 0.52. Air Transport Services Group Inc had an annual average earnings growth of 0.2% over the past 10 years.

Reduced: Cresud S.a.c.i.f. Y A. (CRESY)

Mohnish Pabrai reduced to his holdings in Cresud S.a.c.i.f. Y A. by 20.09%. His sale prices were between $11.24 and $16.68, with an estimated average price of $14.34. The impact to his portfolio due to this sale was -1.53%. Mohnish Pabrai still held 1,027,887 shares as of 09/30/2011. CRESUD SA-ADR is involved in the Agriculture Industry. Cresud S.a.c.i.f. Y A. has a market cap of $562.25 million; its shares were traded at around $11.21 with a P/E ratio of 12.05 and P/S ratio of 1.05. The dividend yield of Cresud S.a.c.i.f. Y A. stocks is 2.94%.

Reduced: Harvest Natural Resources Inc. (HNR)

Mohnish Pabrai reduced to his holdings in Harvest Natural Resources Inc. by 22.27%. His sale prices were between $8.87 and $13.81, with an estimated average price of $11.49. The impact to his portfolio due to this sale was -0.06%. Mohnish Pabrai still held 55,501 shares as of 09/30/2011. Harvest Natural Resources, Inc. is an independent oil and gas exploration and development company with principal operations in Venezuela and Russia. Harvest Natural Resources Inc. has a market cap of $316.68 million; its shares were traded at around $9.28 with a P/E ratio of 15.21 and P/S ratio of 29.61.

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Guru Discussed: Mohnish Pabrai: Current Portfolio, Stock Picks
Stocks Discussed: WFC, GS, WFC.WS, BAC, ATSG, CRESY, HNR, PKX,
Rate this post:

Rating: 3.5/5 (18 votes)



Re Hedge Fund Manager Mohnish Pabrai Buys Bank Of America Wells Fargo Goldman Sachs Sells Posco Air Transport Services
Posted by: pravchaw (IP Logged)
Date: December 31, 2011 03:05PM

Pabrai seems to have made big bets of Financials. Over half of his portfolio is now in Financials.



Guru Discussed: Mohnish Pabrai: Current Portfolio, Stock Picks
Stocks Discussed: WFC, GS, WFC.WS, BAC, ATSG, CRESY, HNR, PKX,
Rate this post:

Rating: 5.0/5 (1 vote)





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