Managers / Q2 2025 · view latest →
Dalal Street, LLC
CIK 0001549575 · 4407 BEE CAVE ROAD, SUITE 513, WEST LAKE HILLS, TX, 78746-6496 · 1-512-999-7110
Summary
Dalal Street, LLC reported $272M in U.S.-listed holdings across 5 positions for Q2 2025.
The portfolio is heavily concentrated: HCC alone accounts for 30.4% of reported value.
Compared with Q1 2025, the fund opened 1 new position and exited 0.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 53.9% · $146M
- Other · 46.1% · $125M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ANAUTONATION INC | NEW | +61.0K | 61.0K | +$12M | $12M |
| VALARIS LTD | ADDED | +456.2K | 1.88M | +$23M | $79M |
| AMRALPHA METALLURGICAL RESOUR I | ADDED | +45.7K | 460.3K | −$153,073 | $52M |
| HCCWARRIOR MET COAL INC | HELD | +165 | 1.80M | −$3M | $82M |
| NOBLE CORP PLC | HELD | +0 | 1.73M | +$5M | $46M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | HCCWARRIOR MET COAL INChistory → | COM | 30.37% | $82M | 1.80M |
| 2 | VALARIS LTD | CL A | 29.21% | $79M | 1.88M |
| 3 | AMRALPHA METALLURGICAL RESOUR Ihistory → | COM | 19.06% | $52M | 460.3K |
| 4 | NOBLE CORP PLC | ORD SHS A | 16.90% | $46M | 1.73M |
| 5 | ANAUTONATION INChistory → | COM | 4.46% | $12M | 61.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $423M | 3 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $402M | 4 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $337M | 5 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $272M | 5 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $235M | 4 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $253M | 3 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $247M | 5 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $233M | 4 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $216M | 4 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $248M | 4 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $170M | 3 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $73M | 2 | Aug 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $121M | 3 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $121M | 5 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $99M | 4 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $101M | 3 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $142M | 3 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $217M | 3 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $191M | 3 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $278M | 3 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $262M | 3 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $206M | 2 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $149M | 2 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $148M | 2 | Aug 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $81M | 2 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $271M | 3 | Feb 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $261M | 3 | Nov 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $294M | 3 | Aug 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $265M | 2 | May 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $207M | 2 | Feb 13, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.