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Q4 2016 13F · by Charlie Munger, portfolio manager

As of
Dec 31, 2016
Filed
Jan 30, 2017
US stock
$146M · prev $113M
Positions
4 · prev 4
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves2 since the prior filing

The book

Very concentrated · behaves like 2 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

High turnover · 98% a year, about 1.0 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions100% of US stock

  1. WFC Wells Fargo & Co. held held60.0%
  2. BAC Bank of America Corporation new+34.75 pp new+34.7534.8%
  3. USB U.S. Bancorp held held4.9%
  4. PKX POSCO Holdings Inc. held held0.3%

Positions4 in this filing · 1 exited

WFCWells Fargo & Co.59.98%1,591,800$88Mheld—13 q
BACBank of America Corporation34.75%2,300,000$51Mnew+34.75 ppnew
USBU.S. Bancorp4.92%140,000$7Mheld—13 q
PKXPOSCO Holdings Inc.0.35%9,745$512,000held—13 q
unresolvedBank of America Corp—−2,300,000—exited−31.86 pp—

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Accession
0001437749-17-001404
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet