Charlie Munger-Linked Firm Unloads Nearly $40 Million in Alibaba Stock

What’s new: Daily Journal Corp., a newspaper and software company that had long been chaired by billionaire investor Charlie Munger, unloaded half of its holdings in e-commerce giant Alibaba Group Holding Ltd. in the first quarter, according to exchange filings.

The Los Angeles-based firm held 300,000 of Alibaba’s American depositary shares (ADSs), which were worth $32.6 million at the end of March, down from 602,060 ADSs at the end of 2021, which had been worth $71.5 million, according to a Daily Journal filing on Monday to the Securities and Exchange Commission (SEC) and a past filing.