• Repelled a position
• Remaining positions not touched
• Total value of holdings increased
Since Mungers Daily Journal Corporation’s invested assets exceed $100 million, the company is required to file a 13F form with the SEC every three months, thereby disclosing its investments.
A position sold in Q4
In the fourth quarter of 2022, the Daily Journal Corporation left most positions in the portfolio untouched. However, one position sold Munger’s investment vehicle entirely. The Daily Journal sold all of the 9,745 shares it had held in the South Korean steel group POSCO, leaving only four positions in the portfolio at the end of the year. However, the total value of holdings increased to $174.43 million in the fourth quarter of 2022 from $163.48 million in the previous quarter.
4th place: US Bancorp stock
US Bancorp’s 140,000 shares held accounted for 3.5 percent of the portfolio in the fourth quarter. Daily Journal did not touch on this participation. At the end of December, the shares were valued at approximately $6.11 million. This is an increase in value of 8.15 percent compared to the third quarter and brings fourth place in the ranking.
3rd place: Alibaba stock
Amazon competitor Alibaba remains in third place in the last quarter of 2022. After Daily Journal divested around half of its Alibaba shares in the first quarter of 2022, its stake has remained unchanged since then. In the fourth quarter, the investment vehicle still held 300,000 Alibaba shares, which, with a total value of around USD 26.43 million, were worth around ten percent more than in the previous quarter. The stake accounted for 15.15 percent of the entire portfolio.
2nd place: Wells Fargo stock
The US financial services company Wells Fargo remains in second place in the fourth quarter of 2022. As in the previous quarter, Daily Journal held 1,591,800 shares of Wells Fargo, which were valued at approximately $65.73 million as of the December 31 reporting date, an increase of 2.66 percent sequentially. Wells Fargo thus achieved a depot share of 37.68 percent.
#1: Bank of America stock
Bank of America is unbeaten in first place in the portfolio in the fourth quarter of 2022. Daily Journal has held shares in the major US bank since the fourth quarter of 2013. The position was unchanged in the current quarter. With a value of around 76.18 million US dollars as of the reporting date, the holding was worth almost ten percent more than in the previous quarter. The 2,300,000 BofA shares made up a portfolio share of 43.67 percent at the end of December.
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