Bank of America Corp Sees Notable Reduction in Daily Journal Corp's Portfolio

GuruFocus.com04-05

Charlie Munger's Investment Moves in Q1 2024 Highlighted by Banking Sector Adjustments Charlie Munger, the esteemed Vice Chairman of Berkshire Hathaway and Chairman of Wesco Financial, is renowned for...

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Charlie Munger, the esteemed Vice Chairman of Berkshire Hathaway and Chairman of Wesco Financial, is renowned for his investment acumen and influence on Warren Buffett 's approach to value investing. Munger's investment vehicle, Daily Journal Corp , has disclosed its 13F filing for the first quarter of 2024, offering a glimpse into the strategic decisions made during this period. Munger's investment philosophy, often described as seeking high-quality businesses for the long term, is reflected in the latest portfolio adjustments, particularly within the banking sector.GuruFocus has detected 5 Warning Sign with WFC.Daily Journal Corp  has made notable reductions in its holdings, with Bank of America Corp  and Wells Fargo & Co  experiencing significant cuts:","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4534":"瑞士信贷持仓","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BRK.B":"伯克希尔B","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","09988":"阿里巴巴-SW","LU0251142724.SGD":"Fidelity America A-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4220":"综合零售","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU0106831901.USD":"贝莱德世界金融基金A2","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","DJCO":"每日期刊","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4527":"明星科技股","BABA":"阿里巴巴","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4526":"热门中概股","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","SDA":"盛大科技","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4504":"桥水持仓","MSC":"新濠影汇","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BAC":"美国银行","USB":"美国合众银行","BK4548":"巴美列捷福持仓","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","SDAWW":"SUNCAR TECHNOLOGY GROUP INC C/WTS 08/05/2028 (TO PUR ORD)","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4531":"中概回港概念","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC"},"translate_title":"美国银行Daily Journal公司的投资组合显著减少","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BABA":1,"USB":1,"DJCO":1,"BAC":1,"SDAWW":0.9,"SDA":0.9,"MSC":0.9,"BRK.B":0.9,"09988":0.6},"content_text":"Charlie Munger's Investment Moves in Q1 2024 Highlighted by Banking Sector Adjustments\nCharlie Munger, the esteemed Vice Chairman of Berkshire Hathaway and Chairman of Wesco Financial, is renowned for his investment acumen and influence on Warren Buffett (Trades, Portfolio)'s approach to value investing. Munger's investment vehicle, Daily Journal Corp (Trades, Portfolio), has disclosed its 13F filing for the first quarter of 2024, offering a glimpse into the strategic decisions made during this period. Munger's investment philosophy, often described as seeking high-quality businesses for the long term, is reflected in the latest portfolio adjustments, particularly within the banking sector.\n\nWarning! GuruFocus has detected 5 Warning Sign with WFC.\n\n\nKey Position Reduces\nDaily Journal Corp (Trades, Portfolio) has made notable reductions in its holdings, with $Bank of America Corp(BAC-N)$ (NYSE:BAC) and Wells Fargo & Co (NYSE:WFC) experiencing significant cuts:\n\nReduced Bank of America Corp (NYSE:BAC) by 300,000 shares, resulting in a -13.04% decrease in shares and a -5.46% impact on the portfolio. The stock traded at an average price of $34.33 during the quarter and has returned 10.00% over the past 3 months and 10.42% year-to-date.\nReduced Wells Fargo & Co (NYSE:WFC) by 178,800 shares, resulting in a -11.23% reduction in shares and a -4.75% impact on the portfolio. The stock traded at an average price of $52.32 during the quarter and has returned 15.88% over the past 3 months and 16.02% year-to-date.\n\nPortfolio Overview\nAs of the first quarter of 2024, Daily Journal Corp (Trades, Portfolio)'s portfolio is composed of 4 stocks, with a significant concentration in the Financial Services and Consumer Cyclical sectors. The top holdings include 46.22% in Wells Fargo & Co (NYSE:WFC), 42.8% in Bank of America Corp (NYSE:BAC), 7.96% in Alibaba Group Holding Ltd (NYSE:BABA), and 3.01% in U.S. Bancorp (NYSE:USB). This strategic allocation underscores Munger's confidence in the financial industry, despite the recent trimming of positions in key banking stocks.\n\n\nThis article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2425585971"}