September quarter shareholding data for companies such as Edelweiss Financial Services and Sunteck Realty, where Pabrai’s funds hold stakes, are yet to be disclosed.
Data showed while the Pabrai Investment Fund II kept its stake in Rain Industries unchanged at 4.35 per cent in the September quarter sequentially, Pabrai Investment Fund 3, which seemed to have offloaded its entire 4.38 per cent in Rain Industries in June quarter, was among the shareholders in the company as of September 30 with a 1.25 per cent stake.
Together the two Pabrai funds owned 5.6 per cent stake in Rain Industries in the September quarter compared with 4.35 per cent at the end of the June quarter and 8.72 per cent at the end of the March quarter.
Rain Industries is one of the world’s leading producers of calcined petroleum coke, coal tar pitch and other high-quality basic and specialty chemicals. Seasoned investor Dolly Khanna is also an investor in this stock, owning 1.18 per cent stake.
In the case of Kolte-Patil Developers, Pabrai Investment Fund II owned 1,524,244 shares, or 2.01 per cent stake, in the Pune-based realtor as of June 30. Dhandho India Zero Fee Fund, a fund by Pabrai’s zero-fee investment firm called Dhando Funds, also owned 40,01,469 shares, or 5.26 per cent, stake in the realty developer as of June 30.
But their names were missing in the shareholders’ list of Kolte-Patil as of September 30, suggesting that the funds either cut or exited the stock.
Mohnish Pabrai is a renowned investor and managing partner at Pabrai Investment Funds.