Daily Journal Maintains Major Bank Holdings in Q4 2023

TL;DR

**Daily Journal's Q4 13F shows steady conviction in big banks, no major portfolio shifts.**

AI Summary

Daily Journal Corp. (DJCO) filed its 13F-HR on January 17, 2024, revealing its holdings as of December 31, 2023. The filing shows the company maintained significant positions in Bank of America Corp. (BAC) with 2,300,000 shares valued at $77,441,000, and Wells Fargo & Co. (WFC) with 1,591,800 shares valued at $78,348,396. Additionally, DJCO held 300,000 shares of Alibaba Group Holding Ltd. (BABA) valued at $23,253,000 and 140,000 shares of US Bancorp (USB) valued at $6,059,200. This stability in its major bank holdings suggests a continued long-term conviction in the financial sector, which is important for investors as DJCO's portfolio is closely watched due to its historical association with Charlie Munger.

Why It Matters

This filing shows Daily Journal's investment strategy, which can influence how investors perceive the value and future prospects of the companies it holds, especially given its historical ties to value investing principles.

Risk Assessment

Risk Level: low — The filing indicates no significant changes in major holdings, suggesting a stable, long-term investment approach rather than volatile trading.

Analyst Insight

Investors should note Daily Journal's consistent conviction in major financial institutions, which could signal a belief in the long-term stability and value of these companies. This filing doesn't suggest any immediate action but reinforces a long-term holding strategy for those aligned with DJCO's investment philosophy.

Key Numbers

• $77.44M — Bank of America Corp. holding value (Represents Daily Journal's largest reported holding by value as of December 31, 2023.)
• $78.35M — Wells Fargo & Co. holding value (Represents Daily Journal's second largest reported holding by value as of December 31, 2023.)
• 2,300,000 — Bank of America Corp. shares (The number of shares Daily Journal held in Bank of America Corp. as of December 31, 2023.)
• 1,591,800 — Wells Fargo & Co. shares (The number of shares Daily Journal held in Wells Fargo & Co. as of December 31, 2023.)
• 300,000 — Alibaba Group Holding Ltd. shares (The number of shares Daily Journal held in Alibaba Group Holding Ltd. as of December 31, 2023.)

Key Players & Entities

• DAILY JOURNAL CORP (company) — the filer of the 13F-HR
• Bank of America Corp (company) — a significant holding in DJCO's portfolio
• Wells Fargo & Co (company) — a significant holding in DJCO's portfolio
• Alibaba Group Holding Ltd (company) — a holding in DJCO's portfolio
• US Bancorp (company) — a holding in DJCO's portfolio
• Tu To (person) — Chief Financial Officer who signed the filing
• $77,441,000 (dollar_amount) — value of Bank of America Corp. shares held
• $78,348,396 (dollar_amount) — value of Wells Fargo & Co. shares held
• $23,253,000 (dollar_amount) — value of Alibaba Group Holding Ltd. shares held
• $6,059,200 (dollar_amount) — value of US Bancorp shares held

Forward-Looking Statements

• Daily Journal Corp. will likely maintain its significant positions in Bank of America and Wells Fargo in the near term. (DAILY JOURNAL CORP) — high confidence, target: 2024-06-30
• The stability of Daily Journal's portfolio suggests a continued long-term value investing approach. (DAILY JOURNAL CORP) — medium confidence, target: 2024-12-31

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 2KB
• F13InfoTable_64826.html (INFORMATION TABLE)
• F13InfoTable_64826.xml (INFORMATION TABLE) — 2KB
• 0001437749-24-001453.txt ( ) — 5KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 12-31-2023 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: DAILY JOURNAL CORP Address: 915 EAST FIRST STREET LOS ANGELES , CA   90012 Form 13F File Number: 028-15782 CRD Number (if applicable): The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Tu To Title: Chief Financial Officer Phone: 213-229-5300 Signature, Place, and Date of Signing: /s/ Tu To Los Angeles ,  CA 01-16-2024 [Signature] [City, State] [Date] Report Type (Check only one.): X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)    13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 4 Form 13F Information Table Value Total: 185,101,596 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] NONE

View Full Filing

View this 13F-HR filing on SEC EDGAR