Mohnish Pabrai Portfolio

Asset Allocation

Position	Category/Sector	Target Weight
HCC Warrior Met Coal, Inc.	Basic Materials	39.50%
RIG Transocean Ltd.	Energy	27.80%
AMR Alpha Metallurgical Resources, Inc.	Basic Materials	27%
VAL Valaris Limited	Energy	5.70%

Benchmark: S&P 500 Index · Rebalance: Every 3 months

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Mohnish Pabrai Portfolio, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

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Benchmark

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Returns By Period

Position	1D	1M	6M	YTD	1Y	3Y*	5Y*	10Y*	ALL TIME*
Benchmark S&P 500 Index	1.79%	3.38%	11.83%	13.02%	22.22%	19.99%	11.80%	13.49%	8.15%
Portfolio Mohnish Pabrai Portfolio	1.39%	-1.78%	-9.09%	-0.60%	58.47%	6.30%	33.68%	—	41.88%
Portfolio components:
AMR Alpha Metallurgical Resources, Inc.	1.58%	-12.13%	-33.33%	-29.66%	18.52%	-7.20%	38.28%	—	9.69%
HCC Warrior Met Coal, Inc.	1.24%	0.83%	-10.06%	-7.40%	55.29%	28.09%	36.52%	—	31.37%
RIG Transocean Ltd.	1.36%	3.16%	4.82%	26.39%	85.77%	-14.97%	9.08%	-7.20%	-1.31%
VAL Valaris Limited	1.72%	3.70%	33.14%	55.04%	71.43%	0.83%	25.01%	—	27.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since May 3, 2021, Mohnish Pabrai Portfolio's average daily return is +0.18%, while the average monthly return is +3.61%. At this rate, an investment would double in approximately 1.6 years.

Historically, 64% of months were positive and 36% were negative. The best month was Oct 2022 with a return of +34.1%, while the worst month was Dec 2024 at -18.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.

On a daily basis, Mohnish Pabrai Portfolio closed higher 53% of trading days. The best single day was Feb 1, 2022 with a return of +11.3%, while the worst single day was Mar 14, 2022 at -12.2%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	8.35%	5.10%	9.79%	-2.78%	0.42%	-17.24%	-2.56%	0.99%					-0.60%
2025	-1.55%	-18.62%	0.26%	-10.93%	0.05%	2.18%	10.48%	15.87%	5.26%	11.41%	8.46%	7.92%	28.54%
2024	2.42%	-9.10%	7.34%	-0.97%	4.48%	-10.20%	8.02%	-15.79%	-1.74%	-3.59%	9.00%	-18.64%	-29.04%
2023	20.02%	3.26%	-6.19%	-6.38%	-5.19%	20.38%	15.47%	-2.26%	18.34%	-11.94%	12.91%	9.96%	81.38%
2022	6.43%	24.51%	27.82%	-3.22%	4.84%	-16.38%	4.76%	7.88%	-17.26%	34.13%	4.82%	-2.15%	84.86%
2021					28.81%	13.01%	0.24%	21.48%	13.57%	5.82%	-15.84%	15.26%	106.66%

Benchmark Metrics

Mohnish Pabrai Portfolio has an annualized alpha of 38.82%, beta of 0.93, and R2 of 0.12 versus S&P 500 Index. Calculated based on daily prices since May 03, 2021.

This portfolio captured 194.45% of S&P 500 Index gains but only 76.11% of its losses - a favorable profile for investors.
R2 of 0.12 means this portfolio moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

Alpha: 38.82%

Beta: 0.93

R²: 0.12

Upside Capture: 194.45%

Downside Capture: 76.11%

See how alpha, beta & R² have trended over time →

Expense Ratio

Mohnish Pabrai Portfolio has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

The portfolio doesn't include any funds that charge management fees.

Return for Risk

Risk / Return Rank

Mohnish Pabrai Portfolio ranks 27 for risk / return — above 27% of Portfolios peers on PortfoliosLab. Its historical combined result is below the peer median.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

Risk / Return Metrics

The table below presents risk-adjusted performance metrics for Mohnish Pabrai Portfolio and compares them with S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	Portfolio	Benchmark	Difference
Sharpe ratioReturn per unit of total volatility	1.44	1.73	-0.29
Sortino ratioReturn per unit of downside risk	2.11	2.40	-0.29
Omega ratioGain probability vs. loss probability	1.24	1.31	-0.07
Calmar ratioReturn relative to maximum drawdown	2.09	2.45	-0.37
Martin ratioReturn relative to average drawdown	5.61	10.40	-4.79

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

Position	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
AMR Alpha Metallurgical Resources, Inc.	53	0.33	0.90	1.10	0.41	0.88
HCC Warrior Met Coal, Inc.	75	1.05	1.89	1.22	1.88	4.14
RIG Transocean Ltd.	82	1.62	2.16	1.27	2.41	6.29
VAL Valaris Limited	79	1.20	2.16	1.27	1.99	5.04

Sharpe Ratio

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk. Learn how to interpret the Sharpe ratio.

The current Mohnish Pabrai Portfolio Sharpe ratio is 1.44 as of Aug 5, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.39 to 2.23, this portfolio's current Sharpe ratio falls between the 25th and 75th percentiles. This indicates that its risk-adjusted performance is in line with the majority of portfolios, suggesting a balanced approach to risk and return—likely suitable for a wide range of investors.

The chart below shows the rolling Sharpe ratio of Mohnish Pabrai Portfolio compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Dividends

Dividend yield

Mohnish Pabrai Portfolio provided a 0.16% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	0.16%	0.14%	0.60%	0.91%	2.90%	0.31%	0.37%	8.63%	11.03%	17.84%	0.00%	2.36%
Portfolio components:
AMR Alpha Metallurgical Resources, Inc.	0.00%	0.00%	0.00%	0.57%	4.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HCC Warrior Met Coal, Inc.	0.39%	0.36%	1.51%	1.90%	4.45%	0.78%	0.94%	21.85%	27.91%	45.17%	0.00%	0.00%
RIG Transocean Ltd.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.48%
VAL Valaris Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Mohnish Pabrai Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Mohnish Pabrai Portfolio was 56.91%, occurring on Apr 4, 2025. Recovery took 212 trading sessions.

The current Mohnish Pabrai Portfolio drawdown is 25.72%.

Drawdown	Fall	Recovery	Underwater	Related event
-56.91%Apr 2025	1y 2mo	10mo 11d	2y 18dJan 2024 - Feb 2026	2025 selloff2025
-37.11%Sep 2022	3mo 17d	3mo 22d	7mo 9dJun 2022 - Jan 2023	Bear market2022
-28.18%Jul 2026	1mo 26d	—	2mo 4dJun 2026 - now	—
-25.01%Dec 2021	1mo 13d	1mo 11d	2mo 24dOct 2021 - Jan 2022	—
-23.68%May 2023	2mo 26d	1mo 24d	4mo 20dMar 2023 - Jul 2023	—

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

AI Analysis

The gist

The portfolio is a concentrated bet on coal and offshore drilling, split into two correlated pairs: HCC–AMR and RIG–VAL. It diversifies company risk more than economic risk.

The numbers

The diversification ratio is 1.34 over one year and 1.26 since inception, around the platform middle at the 54th and 49th percentiles.
The effective asset count is 3.23 of 4, so the weights are reasonably spread; concentration is sectoral rather than purely positional.
Mean correlation is 0.49, with pairwise highs of 0.76 for Transocean (RIG)–Valaris (VAL) and 0.73 for Warrior Met Coal (HCC)–Alpha Metallurgical Resources (AMR).

The good

The two industry clusters are distinct enough that coal and offshore drilling are not simply the same trade in different clothing.
Correlations between clusters are relatively low, around 0.35–0.37, providing a real, if limited, diversification benefit.

The bad

HCC and AMR together represent 66.5% of the portfolio, while RIG and VAL represent 33.5%; four tickers conceal two economic exposures.
Position-to-portfolio correlations reach 0.85 for HCC and 0.83 for AMR, leaving little portfolio-level independence.

The ugly

A broad cyclical shock involving commodity prices, industrial demand, or financing conditions could make both clusters converge precisely when diversification is most useful.

Next steps

Portfolios with this profile are typically complemented by earnings drivers outside extractive commodities and offshore capital spending.

AI-generated analysis. Not investment advice. Verify key facts independently.

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Diversification Metrics

Number of Effective Assets

The portfolio contains 4 assets, with an effective number of assets of 3.23, reflecting the diversification based on asset allocation. Your capital is well-distributed across most of your holdings, with only mild concentration in a few names. True diversification also depends on the correlations between assets — check the diversification ratio below.

Diversification Ratio

	1Y	3Y	5Y	All Time
Diversification Ratio	1.34	1.29	1.26	1.26

The portfolio has a diversification ratio of 1.26, in line with the typical range across portfolios.

Mohnish Pabrai Portfolio correlation to the S&P 500 Index

Mohnish Pabrai Portfolio has a 0.21 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.21
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (5Y) Shows whether the relationship held over a longer period.	0.30
Correlation (All Time) Calculated using the full available price history since May 3, 2021	0.30

Benchmark Correlations

Correlation vs. S&P 500 Index. RIG has the highest benchmark correlation at 0.30, while HCC has the lowest at 0.23.

0.23

0.24

0.30

0.30

Portfolio Correlations

Correlation vs. Mohnish Pabrai Portfolio. HCC has the highest portfolio correlation at 0.85, while VAL has the lowest at 0.62.

0.62

0.70

0.83

0.85

Asset Correlations Table

See how each holding historically moved in relation to the other holdings, the portfolio, and the selected benchmark.

	VAL	RIG	AMR	HCC
VAL	1.00	0.76	0.36	0.35
RIG	0.76	1.00	0.35	0.37
AMR	0.36	0.35	1.00	0.73
HCC	0.35	0.37	0.73	1.00

Based on daily historical returns since May 3, 2021

Diversification Analysis

Find what Mohnish Pabrai Portfolio is missing

See which holdings overlap, where Mohnish Pabrai Portfolio is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification