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Charlie Munger attends the annual Berkshire shareholders meeting in Omaha in 2019.
JOHANNES EISELE / AFP / Getty Images
Daily Journal
,
which
Charlie Munger
had served as chairman until recently, cut its investment in the Chinese online giant
Alibaba
Group Holding in half.
Daily Journal (ticker: DJCO) sold 302,060 Alibaba (BABA) American depositary receipts in the first quarter to reduce its investment to 300,000 ADRs, according to a form it filed with the Securities and Exchange Commission. That is a reversal from the fourth quarter, when Daily Journal bought 300,000 Alibaba ADRs.
Munger, who relinquished the Daily Journal chairmanship on March 28, declined to comment on the sale of Alibaba stock. Munger, who is better known as the vice chairman of
Warren Buffett’s
Berkshire Hathaway (
BRK. B), had been Daily Journal’s chairman since 1977, providing investing expertise to the company.
He remains a director of Daily Journal, which publishes newspapers and websites covering California and Arizona, and offers information services. it also owns large amounts of stock, with a portfolio valued at $212.6 million as of March 31.
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