Daily Journal Corp.
Daily Journal Corporation (NASDAQ: DJCO) is a diversified publishing and legal technology firm headquartered in Los Angeles, California. Founded in 1888, the company operates through two primary segments: traditional publishing—focusing on newspapers and information services for the legal and real estate industries in California and Arizona—and Journal Technologies, which provides case management software solutions to courts and justice agencies primarily in the U.S., Canada, and Australia. The company is also recognized for its investment portfolio, historically overseen by longtime chairman Charles T. Munger. As of 2025, Daily Journal Corporation employs approximately 411 people and serves legal professionals, government clients, and investors.
Investment Strategy
Daily Journal Corporation manages an investment portfolio emphasizing long-term value creation primarily through investments in high-quality, large-cap equities, guided by principles of disciplined capital allocation. Historically overseen by Charles T. Munger, the strategy favors concentrated positions in a small number of durable, industry-leading companies—such as financial institutions and technology firms—rather than broad diversification. The firm also maintains excess capital for market opportunities in addition to its core publishing and legal technology operating segments.
Top Holdings
Equity Positions (4)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
W WFC | Wells Fargo & Co | 45.16% | $118.4M | 1,413,000 | $45.40 | $83.82 | +$5.2M |
B BAC | Bank of America Corp | 39.34% | $103.2M | 2,000,000 | $15.57 | $51.59 | +$8.5M |
B BABA | Alibaba Group Holding Ltd | 13.29% | $34.9M | 195,000 | $155.07 | $178.73 | +$12.7M |
U USB | US Bancorp | 2.20% | $5.8M | 119,500 | $40.40 | $48.33 | +$368.1K |