Pabrai Investment Funds

Mohnish Pabrai serves as Managing Director and sole decision-maker. He is the founder and the only named professional, with no co-CIO or investment committee disclosed. Pabrai has openly attributed his investment framework to Benjamin Graham, Warren Buffett, and Charlie Munger.

Originally launched as a hedge fund in 1999, Pabrai Investment Funds is now structured as a single-family office. Pabrai permanently closed the fund to new external capital in 2018, returning outside investor capital and running solely for his own family's capital, per interviews.

Extremely concentrated — typically 15–20 positions, with top 5 holdings often representing 60–70% of assets. Pabrai has stated that he favors a 'punch card' approach, making few decisions per year with high conviction.

Primarily public equities, though Pabrai has made occasional direct co-investments in private deals alongside Berkshire Hathaway and others. The vast majority of deployed capital is in publicly traded stocks.

Pabrai has publicly stated he avoids technology and speculative growth stocks, preferring businesses with sustainable competitive advantages at low valuations. He also avoids highly leveraged financials and businesses he cannot understand (a Munger-derived rule).

Pabrai does not rely on proprietary sourcing; he operates a public-equity value approach, filtering for good businesses at low prices. When seeking direct investments, he often co-invests alongside Berkshire Hathaway or follows the holdings of known value investors.

Mohnish Pabrai and his wife run the Pabrai Family Foundation, which focuses on education and poverty in the U.S. and India. It is funded separately from the investment vehicle. Pabrai has also committed to the Giving Pledge.