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

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.