Quarter Ending 12/31/2011 Back to the Enlightened American Website
Mohnish Pabrai
*****  NEW POSITIONS TAKEN
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value Capital Invested
N/A N/A CITIGROUP INC. 506,124 $26.31 $13,316,000 ($13,316,000)
N/A N/A THE DIRECT TV 398,341 $42.76 $17,033,000 ($17,033,000)
N/A N/A TEREX CORP. 2,267,112 $13.51 $30,629,000 ($30,629,000)
*****  SOLD OFF
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
N/A N/A AIR TRANSPORT SERVICES 134,347 $4.33 $582,000 $582,000
N/A N/A BROOKFIELD OFFICE PROPERTIES 2,359,215 $13.77 $32,486,000 $32,486,000
N/A N/A HARVEST NATURAL RESOURCES 55,501 $8.58 $476,000 $476,000
N/A N/A WTS WELLS FARGO & CO. 113,785 $7.70 $876,000 $876,000
N/A N/A BROOKFIELD INFRASTRUCTURE LP 1,767,960 $24.34 $43,032,000 $43,032,000
*****  HOLD POSITIONS
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
0.00% -72.02% PINNACLE AIRLINES CORP. 1,985,902 1,985,902 $0.82 $2.93 $1,628,000 $5,819,000 $0
0.00% -4.49% POTASH CORP. 796,000 796,000 $41.28 $43.22 $32,859,000 $34,403,000 $0
*****  AUGMENTED POSITIONS
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
4599.92% 7.33% 435,474 BERKSHIRE HATHAWAY 444,941 9,467 $76.30 $71.09 $33,949,000 $673,000 ($33,226,668)
36.65% 21.43% 497,503 HORSEHEAD HLDG CORP. 1,855,001 1,357,498 $9.01 $7.42 $16,714,000 $10,073,000 ($4,482,620)
13.22% 14.26% 161,900 WELLS FARGO & CO. 1,387,001 1,225,101 $27.56 $24.12 $38,226,000 $29,549,000 ($4,461,993)
*****  REDUCED POSITIONS
% pos ch % val ch Change COMPANY Cur. Pos. Prev. Pos. Approx PPS Prev PPS Value Prev Value
-69.72% -9.15% -4,917,565 BANK OF AMERICA 2,135,986 7,053,551 $5.56 $6.12 $11,876,000 $43,168,000 $27,341,472
-6.38% 17.46% -15,418 BROOKFIELD RESIDENTIAL PROP 226,155 241,573 $7.81 $6.65 $1,766,000 $1,606,000 $120,396
-22.22% 9.12% -625,000 CAPITALSOURCE INC. 2,188,141 2,813,141 $6.70 $6.14 $14,661,000 $17,273,000 $4,187,630
-70.58% 5.26% -725,511 CRESUD S A C I F Y A 302,376 1,027,887 $11.39 $10.82 $3,444,000 $11,122,000 $8,263,420
-25.92% -4.36% -75,147 GOLDMAN SACHS GROUP INC. 214,786 289,933 $90.43 $94.55 $19,423,000 $27,413,000 $6,795,509
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