BALTIMORE ( Stockpickr) -- Mohnish Pabrai is one of the most well-known investors off Wall Street. As the managing partner of Irvine, California-based Pabrai Investment Funds, the former IT entrepreneur heads a portfolio worth $333 million -- but it's his books and articles that put him in the spotlight.An avowed Warren Buffett disciple, Pabrai has written two books on the Oracle of Omaha's investing style. It's no surprise why Pabrai is a Buffett fan -- the latter's investment strategies have helped him generate market-beating returns to grow his investment firm from $1 million in assets under management in 1999 to its current size. Pabrai's portfolio is unique because of the size of his bets. Unlike many investment funds, his firm is only invested in 16 concentrated positions -- and he takes big bets on new stocks. Because of the enormous bets that Pabrai makes successfully, it's valuable to take a look at what this portfolio manager is putting his money in right now. Here's a look at four stocks that Mohnish Pabrai's firm added to its investment roster in 2010. It's no surprise that one of the biggest positions Mohnish Pabrai added to his fund in the last quarter was Buffett's own Berkshire Hathaway ( BRK.B). The company, which made waves earlier this year when it transacted a 50:1 split of its class B shares, has been a strong performer in 2010, climbing nearly 21% vs. a market that's been languishing in negative territory. It's no surprise that Berkshire's been a strong performer - the conglomerate's heavy exposure to the insurance industry flummoxed investors early on in the credit crunch, as Wall Street became concerned that the firm was, like many peers, overleveraged on risky bets. But Buffett's prescience won out once again, and Berkshire's assets proved to be less risky than the rest. That realization has been a major catalyst for appreciation since 2009. But not all of Berkshire's assets are low-risk. Buffett's made no secret of the fact that he's a heavy user of derivatives -- an instrument that he's publicly had to defend in front of Congress. Likewise, Berkshire took heat for its position in Moody's ( MCO), one of the investment ratings firms that failed to spot the risk in mortgage-backed securities.
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