Asian Tech Press (Jan 06) -- Daily Journal Corp, a newspaper and software company owned by Charlie Munger, a close associate of Warren Buffett, disclosed an increase in its stake in Alibaba (BABA.N) during the U.S. stock market on Jan. 4.

According to Daily Journal Corp's Q4 2021 13F filing with the SEC, after Alibaba's shares fell more than 60%, Daily Journal made another big move to increase its stake, holding 602,060 ADRs of Alibaba by the end of 2021, nearly doubling its position from 302,060 at the end of September. After the large increase, the company's position in Alibaba increased to $71.159 million from $44.72 million at the end of the third quarter of 2021.

Munger surprised the market by suddenly taking a large position in the Internet giant Alibaba at the beginning of 2021. In the second quarter of 2021, Munger remained firmly in Alibaba, with the number of shares held unchanged. In the third quarter of last year, Munger made another big buy, increasing his stake in Alibaba by 82%.

But against the backdrop of a continued decline in Internet stocks, Alibaba shares have also continued to move lower. As of Jan. 4, U.S. shares of Alibaba were trading at $119.56 per share, down 47 percent from Munger's initial position.