(Bloomberg) -- Daily Journal Corp., a newspaper and software business that counts Charlie Munger as chairman, nearly doubled its holding of Chinese internet giant Alibaba Group Holding Ltd. shares in recent months.
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The Daily Journal held 602,060 American depositary shares in Alibaba at year-end, up from 302,060 as of Sept. 30, according to a regulatory filing Tuesday. The company’s other investments, such as its Wells Fargo & Co. and Bank of America Corp. bets, were unchanged.
Munger, who is also a vice chairman at Warren Buffett’s Berkshire Hathaway Inc., has long worked as chair of Daily Journal’s board. He said in April that the company needs securities held as cash equivalents and that the business has turned to stocks amid low Treasury bill yields.
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