Tracking Charlie Munger's Daily Journal Portfolio - Q2 2016 Update

• Charlie Munger’s Daily Journal Portfolio continues to have just four positions.
• The portfolio has been largely untouched since their first 13F filing for Q4 2013.
• The overall portfolio value decreased ~2% in the quarter.

Charlie Munger’s Daily Journal portfolio value decreased ~2% this quarter from $114M to $112M. Since their first 13F filing for Q4 2013, there has only been one change to the holdings: POSCO was reduced significantly in Q4 2014. After accounting for this sale, the portfolio value has remained remarkably steady over the last three years. Below is a look at the holdings:

Wells Fargo (WFC): WFC stake forms almost two-thirds of the entire portfolio. The stock was at $45.40 EOY 2013 during their first 13F filing and is now at $48.93.

Bank of America (BAC): BAC is another large stake at 26.72% of the portfolio. The stock was at $15.57 during their first 13F filing for EOY 2013 and is now at $15.19.

US Bancorp (USB): USB is a 4.94% of the portfolio position. The stock is at ~$40, the same price as it was EOY 2013.

POSCO (PKX): The minutely small 0.38% portfolio stake was sold down by ~85% in Q4 2014 at prices between $64 and $73. The stock is now at $49.16.

The spreadsheet below show Charlie Munger's Daily Journal US stock holdings as of Q2 2016. Please visit our previous updates to get an idea on how the portfolio has progressed:

 To know more about Charlie Munger, check out the book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.

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