Charlie Munger, the vice chairman of Berkshire Hathaway, Inc. (NYSE: BRK-A) (NYSE: BRK-B) and Warren Buffett’s trusted lieutenant, on Friday disclosed the holdings of his publishing company Daily Journal’s second-quarter portfolio.
The billionaire’s second-quarter holdings remained unchanged, in terms of the number of shares, from the first quarter. Given the stock gyrations, the value of holdings underwent some changes.
Munger’s Daily Journal held 300,000 shares of Alibaba Holdings Limited BABA, valued at $34.1 million, at the end of the second quarter. In the first quarter, the firm reduced its Alibaba stake by half.
Alibaba shares turned around in the quarter, with the stock advancing about 4.5% in the second quarter, even as most of the U.S. tech stocks chalked up losses for the same period. Alibaba’s stock bottomed at $73.28 in mid-March.
The improvement seen in sentiment toward the Chinese e-commerce giant reflects hopes that the regulatory crackdown on high-profile domestic tech companies would ease.
Related Link: 'The Big Short' Legend Michael Burry Reveals How He Reacted On First Seeing 'Hero' Charlie Munger
Munger’s Other Holdings:
- Bank of America Corporation BAC: 2.3 million shares, valued at $71.6 million
- POSCO Holdings Inc. PKX: 9,745 shares, valued at $434,000
- Wells Fargo & Company WFC: 140,000 shares, valued at $6.44 million.
- U.S. Bancorp USB: 1.592 million shares, valued at $62.35 million
Photo: Created with an image from Nick Webb on Flickr
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