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Mohnish Pabrai Becomes Defensive? Sells PKX, TEX, ATSG, HNR, TCK

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Hedge Fund Manager Mohnish Pabrai barely bought any stocks in the first quarter. He sold quite some positions. He reduced Posco, Harvest Nat Res Inc, Terex Corp., Air Transport Services Group Inc, Teck Resources Ltd. during the 3-months ended 03/31/2011, according to the most recent filings of his investment company, Pabrai Mohnish. As of 03/31/2011, Pabrai Mohnish owns 15 stocks with a total value of $307 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:

Basic Materials 50.9%
Financials 29.7%
Industrials 8.1%
Consumer Goods 7.6%
Consumer Services 3.7%


These are the top 5 holdings of Mohnish Pabrai

  1. POTASH Corp. OF SASKATCHEWAN INC. (POT) - 994,854 shares, 19.07% of the total portfolio. Shares reduced by 0.9%
  2. BROOKFIELD OFFICE PROPERTIES INC. (BPO) - 2,359,266 shares, 13.6% of the total portfolio. Shares added by 0.01%
  3. BROOKFIELD INFRASTRUCTURE PARTNERS L.P. Ltd. PARTN (BIP) - 1,769,760 shares, 12.79% of the total portfolio.
  4. INTERNATIONAL COAL GROUP INC. (ICO) - 2,483,970 shares, 9.13% of the total portfolio.
  5. Cresud S.A.C.I.F. Y A. (CRESY) - 1,286,361 shares, 7.57% of the total portfolio. Shares reduced by 6.21%

Reduced: Posco (PKX)

Mohnish Pabrai reduced to his holdings in Posco by 69.85%. His sale prices were between $100.5 and $117.57, with an estimated average price of $107.25. The impact to his portfolio due to this sale was -5.54%. Mohnish Pabrai still held 64,301 shares as of 03/31/2011.

POSCO, formerly known as Pohang Iron & Steel Company Ltd. Posco has a market cap of $36.77 billion; its shares were traded at around $105.43 with a P/E ratio of 7.2 and P/S ratio of 0.7. The dividend yield of Posco stocks is 1.8%. Posco had an annual average earnings growth of 13.9% over the past 10 years.

Reduced: Terex Corp. (TEX)

Mohnish Pabrai reduced to his holdings in Terex Corp. by 34.97%. His sale prices were between $28.8 and $38.3, with an estimated average price of $34.18. The impact to his portfolio due to this sale was -2.24%. Mohnish Pabrai still held 345,186 shares as of 03/31/2011.

Terex Corp. is a global manufacturer of a broad range of construction and mining related capital equipment. Terex Corp. has a market cap of $3.23 billion; its shares were traded at around $29.64 with and P/S ratio of 0.7.

Reduced: Air Transport Services Group Inc (ATSG)

Mohnish Pabrai reduced to his holdings in Air Transport Services Group Inc by 33.47%. His sale prices were between $7.21 and $8.48, with an estimated average price of $7.81. The impact to his portfolio due to this sale was -1.96%. Mohnish Pabrai still held 1,418,400 shares as of 03/31/2011.

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 $487.9 million; its shares were traded at around $7.665 with a P/E ratio of 11.4 and P/S ratio of 0.7. Air Transport Services Group Inc had an annual average earnings growth of 0.2% over the past 10 years.

Sold Out: Harvest Nat Res Inc (HNR)

Mohnish Pabrai sold out his holdings in Harvest Nat Res Inc. His sale prices were between $10.59 and $16.75, with an estimated average price of $13.28.

Harvest Natural Resources, Inc. is an independent oil and gas exploration and development company with principal operations in Venezuela and Russia. Harvest Nat Res Inc has a market cap of $386 million; its shares were traded at around $11.36 with a P/E ratio of 47.3 and P/S ratio of 36.1.

Sold Out: Teck Resources Ltd. (TCK)

Mohnish Pabrai sold out his holdings in Teck Resources Ltd.. His sale prices were between $50.9 and $65.1, with an estimated average price of $57.88.

Teck Resources Limited, formerly Teck Cominco Limited, is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy. Teck Resources Ltd. has a market cap of $29.04 billion; its shares were traded at around $49.96 with a P/E ratio of 16.1 and P/S ratio of 3.1. The dividend yield of Teck Resources Ltd. stocks is 1.2%.


Rating: 2.1/5 (8 votes)

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