Munger-Tied Daily Journal Slashes Its Alibaba Stake in Half

Daily Journal Corp., a newspaper and software business that counts Charlie Munger as one of the overseers of its stock portfolio, cut its stake in Chinese internet giant Alibaba Group Holding Ltd. by roughly half.

The Los Angeles-based company owned 300,000 American depositary shares in Alibaba at the end of March, according to a regulatory filing Monday. That’s down from 602,060 at the end of last year. Daily Journal’s current Alibaba holdings are valued at roughly $31 million as of 2:35 p.m. in New York.