mohnish pabrai

Pabrai Investments continues to hold the majority of its portfolio in financial stocks for the third quarter. The company’s latest 13F filing with the Securities and Exchange Commission (SEC) shows the company’s leading stock is Bank of America Corp (NYSE:BAC), which takes up 24 percent of the firm’s portfolio. Citigroup Inc. (NYSE:C) comes in second with 22 percent, and Chesapeake Energy Corporation (NYSE:CHK) is 21 percent of Pabrai’s portfolio. General Motors Company (NYSE:GM), Goldman Sachs Group, Inc. (NYSE:GS), and Horsehead Holding Corp. round out the company’s top six holdings.

54 percent of the firm’s stocks in the financial sector, 21 percent in energy, 19 percent in consumer discretionary stocks, and 6 percent in materials.

Additions And Buys

Pabrai’s biggest winner for the third quarter was Chesapeake Energy Corporation (NYSE:CHK), which the firm increased its holdings in by 13.65 percent. The firm also added a few more shares of General Motors Company (NYSE:GM) stock to its portfolio during the third quarter.

Reductions And Sell-Offs

Pabrai reduced its position in Goldman Sachs Group, Inc. (NYSE:GS) by a significant amount during the third quarter. In one other change of notable mention, the firm also sold a few shares of Citigroup Inc. (NYSE:C) during the quarter.