This report shows Pabrai Wagons fund's holdings as of end-2025. The top 10 stocks make up over 70% of assets, focused on materials, industrials, and consumer discretionary. The three largest holdings are Edelweiss Financial Services Ltd. (an Indian financial firm, 16.9% of assets), Warrior Met Coal, Inc. (a US coal company, 14.4%), and TAV Havalimanlari Holding AS (a Turkish airport operator, 13.4%). The report doesn't give a market view, just the portfolio snapshot and a 21% half-year turnover rate.
Pabrai Wagons Fund (Ticker: WAGNX) reported in its 2025 semi-annual report that as of December 31, 2025, the fund's net assets stood at $103.5 million, holding 18 stocks with a semi-annual turnover rate of 21%. The top ten holdings accounted for over 70% of the portfolio, with Edelweiss Financial Se
The fund portfolio is highly concentrated, with the top 10 holdings accounting for over 70% of net assets, and sector allocation primarily in Materials (24.7%), Industrials (19.5%), and Consumer Discretionary (18.7%). As of December 31, 2025, the fund had net assets of $103.5 million, held 18 stocks, and had a semi-annual turnover rate of 21%. Among the top 10 holdings, Edelweiss Financial Services Ltd. (16.9%) ranked first, followed by Warrior Met Coal, Inc. (14.4%) and TAV Havalimanlari Holding AS (13.4%). Alpha Metallurgical Resources, Inc. (5.9%), Transocean Ltd. (4.7%), Reysas Gayrimenkul Yatirim Ortakligi AS (4.6%), Valaris Ltd. (4.6%), Mongolian Mining Corp. (4.4%), Reysas Tasimacilik ve Lojistik Ticaret AS (4.1%), and PulteGroup, Inc. (4.0%) ranked 4th to 10th, respectively. In terms of sector distribution, Materials (24.7%), Industrials (19.5%), Consumer Discretionary (18.7%), Financials (16.9%), Energy (10.4%), Real Estate (4.6%), Consumer Staples (3.9%), and Cash & Other (1.3%).
Assuming a $10,000 investment, the semi-annual cost is $68, corresponding to an expense ratio of 1.25%. The report disclosed cost data based on a hypothetical $10,000 investment, with the semi-annual cost for the Retail Class at $68, representing 1.25% of the investment amount. The net advisory fee for the same period was $220,300.