Tracking Charlie Munger's Daily Journal Portfolio – Q4 2020 Update

  • Charlie Munger’s Daily Journal Portfolio has just five positions. 
  • The portfolio has been largely untouched since their first 13F filing for Q4 2013. 
  • This quarter saw a ~19% stake built in Alibaba Group Holdings. 

 Charlie Munger’s Daily Journal portfolio value more than doubled this quarter from ~$98M to ~$197M. Since their first 13F filing in Q4 2013, there had only been one change to the holdings: POSCO was reduced significantly in Q4 2014. This quarter saw another change with a ~19% position initiated in Alibaba Group Holdings. After accounting for these two changes, the portfolio has remained remarkably steady over the last seven years. To know more about Charlie Munger, check out the book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.

 

Regarding the origins of this portfolio in 2009, Charlie Munger said the following during Daily Journal’s (DJCO) 2018 AGM Q&A: “In addition to Daily Journal's businesses, we have a great bundle of securities and want to dispel again that this is not some minor version of Berkshire. We have a bundle, because we bought them at a time when we preferred to own them to holding cash and had a lot of extra liquidity on hand that came to us by accident. The chances of more gains like what we have done in the last four or five years is zero. Oh, well we will have a big gain next quarter, because of a deferred tax reduction from the Trump tax code change, so we will look like a genius for one more quarter, I suppose.” The cost-basis of the positions acquired at the time was $63.4M.

 

The spreadsheet below shows Charlie Munger's Daily Journal 13F stock holdings as of Q4 2020. Please visit our previous updates to get an idea on how the portfolio has progressed:

 

 


 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .

 




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