Charlie Munger is not only Vice Chairman of the investment company Berkshire Hathaway and a close confidant of its CEO Warren Buffett, but is also involved with the Daily Journal Corporation. For years, the stock market expert chaired the investment vehicle, but now Munger only holds one seat on the board. Here’s what the Daily Journal Corporation depot looked like in the second quarter of 2023.
• No adjustments made
• Focus on banking sector
• Still a new top position
Lineup unchanged again
Institutional investors with assets under management in excess of $100 million are required to report their positions to the US Securities and Exchange Commission (SEC) on a quarterly basis. This is done using the so-called 13F form, which is publicly available at the authority.
With a portfolio value of $163.556 million in the second quarter of 2023, Charlie Munger and the Daily Journal Corporation clearly qualified to present the document. In the second quarter, the Berkshire Hathaway Vice Chairman again did not touch any of the only four positions. Munger held these shares as of June 30, 2023, sorted by total share in the portfolio in percent.
4th place: US Bancorp stock
Fourth again: 140,000 shares of US Bancorp, the fifth largest bank in the USA. Munger first added the bank shares to his portfolio in 2013. In the second quarter, the position on the exchange was worth $4.625 million – 2.83 percent of the Daily Journal Corporation’s entire portfolio.
3rd place: Alibaba stock
There were no adjustments to third place in the second quarter either. Chinese Amazon competitor Alibaba first found its way into Munger’s holdings in 2021 and was represented with 300,000 shares as of June 30, 2023. The market capitalization of all Alibaba shares owned by the Munger company was $25.005 million as of the reporting date, accounting for 15.29 percent of the total portfolio.
2nd place: Bank of America stock
Bank of America stock fell one notch in the second quarter — even though the Daily Journal Corporation did not change its stake in the US Bancorp rival. As of the reporting date, there were still 2,300,000 shares in the US bank in the Munger depot, which had a market value of US$ 65.987 million. In the previous quarter, the BofA titles were worth a similar amount at USD 65.78 million, but there was a significant increase in the new top position. With a share of 40.35 percent, the Bank of America share – in the Munger portfolio since 2013 – falls back to second place in the ranking.
1st place: Wells Fargo stock
No adjustments were made at the major US bank and Bank of America competitor Wells Fargo. The investment vehicle kept its 2013 holding at 1,591,800 shares, but as the value of the bank stock increased to $67.938 million from the previous $59.501 million, Wells Fargo was able to earn the gold medal in the second quarter of 2023 . The position accounts for 41.54 percent of the total portfolio.
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