Charlie Munger’s Life History & Stock Portfolio: 2 Biggest Positions

In this piece, we will take a look at Charlie Munger’s life history, his latest stock portfolio, and his biggest investment positions. If you want to learn more about Mr. Munger’s historic journey in the finance and investment industry, then take a look at Charlie Munger’s Life History & Stock Portfolio: 4 Biggest Positions.

2. Bank of America Corporation (NYSE:BAC)

Daily Journal’s Q3 2023 Investment: $62.9 million

Bank of America Corporation (NYSE:BAC), just like U.S. Bancorp, is another classic Warren Buffet and Munger stock pick. It is a much more sizeable bank than U.S. Bancorp, which is a regional institution. Estimates suggest that Bank of America Corporation (NYSE:BAC) is the second biggest bank in the U.S., which naturally lends it the right kind of stability for an investment portfolio geared for returns through long term price appreciation and sizeable dividends. To understand its scale, consider the fact that as of October 2023, Bank of America Corporation (NYSE:BAC) operates 15,000 automated teller machines across the U.S. with a footprint of 3,900 locations.

The Daily Journal has owned Bank of America Corporation (NYSE:BAC)’s shares since 2015’s fourth quarter, and back then, it owned 2.3 million shares that were worth $38.7 million. Mr. Munger’s faith in the stock is evident as since then, his firm has continued to own 2.3 million Bank of America Corporation (NYSE:BAC) shares to date.

During this year’s third quarter, 88 out of the 910 hedge funds profiled by Insider Monkey had also held a stake in Bank of America Corporation (NYSE:BAC). Out of these, its biggest hedge fund shareholder was Warren Buffett’s Berkshire Hathaway through a $28.2 billion stake.

1. Wells Fargo & Company (NYSE:WFC)

Daily Journal’s Q3 2023 Investment: $65 million

Wells Fargo & Company (NYSE:WFC) is a diversified American bank headquartered in San Francisco, California. Like the other stocks on our list, it is also a sizeable entity with hundreds of thousands of employees all over the world. A dividend paying stock, it currently pays a 35 cent dividend for a 3,23% yield.

However, while Warren Buffett’s professional trading history with Wells Fargo & Company (NYSE:WFC) ended in 2022 after Berkshire exited its $32.3 million stake (which was worth a whopping $27.8 billion in Q4 2017), the Daily Journal has continued to hold the shares since 2015. As of Q3 2023 end, the firm held 1.5 million Wells Fargo & Company (NYSE:WFC) shares that were worth $65 million.

Insider Monkey took a look at 910 hedge fund holdings for their September quarter of 2023 shareholdings and determined that 77 had bought a stake in the bank. Wells Fargo & Company (NYSE:WFC)’s biggest hedge fund shareholder in our database is Natixis Global Asset Management’s Harris Associates since it owns 23.8 million shares that are worth $976 million.

Like other banks, Wells Fargo & Company (NYSE:WFC) has been making full use of high interest rates as it has beaten analyst EPS estimates in three out of its four latest quarters. The stock is rated Buy on average and analysts have set a $49.9 share price target.

Disclosure: None. You can also take a look at 11 Cheapest Stocks With Biggest Upside and 13 Best Food Dividend Stocks To Buy Now.