CM Financial Advisors

Charles Munger personally ran the portfolio until his death in November 2023 at age 99. Munger held concentrated positions in names he understood deeply — most famously Costco — and rarely delegated. Post-death, the assets flow through a private trust structure to his eight children, with no publicly named successor CIO (public record).

No. Munger famously called family offices a 'terrible idea' in a 2023 CNBC interview and deliberately kept his own office closed. There is no fund, no co-investment vehicle, and no mechanism for external allocators or peers to participate. The office exists solely to manage Munger family assets (per CNBC, February 2023).

CM Financial Advisors manages Charles Munger's personal wealth, which was substantially — but not entirely — built on Berkshire Hathaway stock. The two entities are legally separate. Munger's Berkshire shareholding was personal; his CM Financial Advisors activity never represented Berkshire's investment decisions, though public filings occasionally showed parallel thinking on holdings like Costco (public record).