RWW Inc's Q1 2026 13F is a $1.37B, 34-position portfolio managed as a value-oriented, concentrated multi-strategy equity book. AUM fell modestly from $1.46B in Q4 2025 to $1.37B in Q1 2026 (-$88M, -6.1%) from mark-to-market erosion. The portfolio's five anchor positions account for 58.6% of AUM: Alibaba Group ($271.2M, 19.8%, -9.1% shares, -$77.4M), the portfolio's largest position and its China-tech anchor; Daily Journal Corp ($173.9M, 12.7%, -2.0% shares, -$5.4M) -- Charlie Munger's media-and-technology company and the portfolio's most distinctive holding; Wells Fargo ($137.0M, 10.0%, -2.6% shares, -$27.7M); Whirlpool ($130.6M, 9.5%, +191.6% shares, +$70.7M from $59.9M) -- the quarter's most dramatic increase, more than tripling share count; and Berkshire Hathaway ($116.7M, 8.5%, +0.7% shares, -$4.9M). The quarter's 38 changes (4 new, 4 sold, 7 increased, 19 decreased, 4 unchanged) reflects selective rebalancing: the manager significantly increased Whirlpool (massive add), Kraft Heinz (+28.2% shares, +$11.4M), Helen of Troy (+85.7% shares), and Fox Factory (+4.7%), while reducing Carter's (-48.1% shares, -$62.7M), Alibaba (-9.1%), Microsoft (-1.9%), Polaris (-3.1%), Exxon Mobil (-18.7%), and 14 other positions. Four new opens: iShares SGOV short-term Treasury ETF ($72.6M), Adobe ($12.3M), H&R Block ($11.4M), and Lululemon ($11.2M). Four sold: corrupted-CUSIP ETF, Walmart, Alphabet A, Stryker. A 77.25 whaleScore on $1.37B reflects AUM threshold. This is best read as a traditional value-and-special-situations equity portfolio with concentrated positions in large-cap value (Wells Fargo, Exxon, Kraft Heinz, Berkshire), consumer discretionary (Whirlpool, Carter's, Polaris, Fox Factory, Lululemon, H&R Block, Winnebago), and unique special-situation/value opportunities (Daily Journal, Alibaba at a discount, Microsoft at a small weight). The massive Whirlpool increase signals a new-conviction bet on the appliance-and-housing cycle.
The portfolio's identity is anchored by five distinctive positions that together account for 58.6% of AUM. Alibaba Group ($271.2M, 19.8%, 2.16M shares, -9.1% shares, -$77.4M) -- China's ecommerce-and-cloud-and-fintech conglomerate -- is the portfolio's largest holding and its primary special-situations anchor. Alibaba has been one of the most beaten-down large-cap technology stocks in global markets over the past 18-24 months, trading at a fraction of its historical valuation multiple; RWW's substantial position signals a deep-value, distressed-to-recovery bet on Chinese technology-and-consumer stocks. The -9.1% share reduction in Q1 (from 2.38M to 2.16M shares) is a modest trim at the margin, possibly to rebalance or take partial profits on strength, but the position remains the portfolio's core anchor. Daily Journal Corp ($173.9M, 12.7%, 360,560 shares, -2.0% shares, -$5.4M) -- a tiny media-and-software company whose primary asset is its $2B+ cash-and-software-balance-sheet and whose largest shareholder is Charlie Munger -- is the portfolio's most distinctive holding and a pure special-situations position. Daily Journal trades at a massive discount to its net-cash value; RWW has held this position across multiple quarters as a classic deep-value, asset-based play. Daily Journal represents a bet on the realization of the company's underlying asset value -- either through management change, asset sales, or a long-term compounding of the software business.
Wells Fargo ($137.0M, 10.0%, 1.72M shares, -2.6% shares, -$27.7M from $164.8M) -- US diversified bank -- is the portfolio's financial-services anchor and a classic value play. Wells Fargo has been a Warren Buffett-and-Value-investor favorite for decades; RWW's significant position reflects a bet on WFC's earnings-power recovery as the bank moves past its regulatory-and-fraud scandals and benefits from higher interest rates on its large deposit base. The -2.6% share reduction is modest. Whirlpool ($130.6M, 9.5%, 2.42M shares, +191.6% shares, +$70.7M from $59.9M) -- home-appliances manufacturer (Maytag, KitchenAid, Whirlpool) -- is the portfolio's most significant trade in Q1: the manager more than tripled its Whirlpool position, deploying roughly $70M of new capital at Q1 prices. Whirlpool is a cyclical-and-value name that benefits from housing turnover and home-renovation spending; the massive add signals the manager's view that Whirlpool is at or near the bottom of its cycle and that recovery is approaching. The 191.6% increase makes Whirlpool the portfolio's fastest-growing position. Berkshire Hathaway Class B ($116.7M, 8.5%, 243,593 shares, +0.7% shares, -$4.9M from $121.6M) -- the portfolio's conglomerate-and-stewardship anchor -- was held steady at a very large weight; Berkshire is the ultimate quality-and-compounding holding and represents RWW's highest-conviction buy-and-hold core.