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Billionaire investor and Warren Buffett’s trusted lieutenant Charlie Munger-run Daily Journal has filed its quarterly 13F, disclosing its investment holdings at the end of the fourth quarter.
What Happened: Bank of America Corp. (NYSE:BAC) continued to be Daily Journal’s top holding. The firm maintained its BofA position unchanged at 2.3 million.
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The value increased from $69.46 million at the end of the third quarter to $76.18 million. BofA’s shares ended the fourth quarter at $33.12, up from $30.02 at the end of the third quarter.
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Munger’s firm also maintained its status quo with its other two bank holdings. It held 1.592 million shares of Wells Fargo & Co. (NYSE:WFC), valued at $65.73 million, at the end of the fourth quarter.
The firm’s holding of US Bancorp. (NYSE:USB) was at 140,000, valued at $6.11 million.
Daily Journal maintained its stake in Chinese e-commerce giant Alibaba Group Holding Ltd. (NYSE:BABA) at 300,000, although its value increased from $24 million to $26.43 million. In the first quarter of 2022, the firm halved its Alibaba stake from 602,0606 to 300,000 shares and has been holding it unchanged since then.
Alibaba shares bottomed at $58.01 in late October before staging a recovery, helped by bargain hunting amid a solid third-quarter report and hopes of China reopening following the strict COVID-19 lockdowns. On Wednesday, the stock jumped 12.98% to $103.92, according to Benzinga Pro data.
Daily Journal, meanwhile, liquidated its entire holdings, numbering 9,745 shares, in South Korean steel giant Posco Holdings Inc. (NYSE:PKX).
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.