Daily Journal (NASDAQ: DJCO) holder plans trust wind-down, exit stake

Rhea-AI Filing Summary

Daily Journal Corp shareholder Peter D. Kaufman filed an amended Schedule 13D stating that he currently beneficially owns 8.7% of the company’s common stock through certain trusts. He plans to terminate these trusts during the first quarter of 2026, with the shares to be distributed to the trusts’ beneficiaries, after which he will no longer beneficially own these shares. The filing also notes that the trusts recently sold 1,429 shares at an average price of $464.75 on December 9, 2025, 4,691 shares at $472.17 on December 10, 2025, and 6,001 shares at $480.35 on December 11, 2025.

Insights

Equity ownership & governance analyst

Large Daily Journal holder plans to exit 8.7% beneficial stake via trust terminations.

Peter D. Kaufman reports beneficial ownership of 8.7% of Daily Journal Corp common stock, held through trusts for which he is trustee. He states an intention to terminate these trusts in the first quarter of 2026, with the shares distributed to beneficiaries, meaning he will no longer be deemed a beneficial owner after those distributions.

This change could alter the company’s significant-holder landscape, as a single reporting person’s block will effectively be replaced by holdings spread among trust beneficiaries. The filing also lists recent sales by the trusts: 1,429 shares at an average of $464.75, 4,691 shares at $472.17, and 6,001 shares at $480.35 on three trading days in December 2025, indicating some reduction of the position ahead of the trust terminations.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 001)

DAILY JOURNAL CORP

(Name of Issuer)

Common Stock

(Title of Class of Securities)

233912104

(CUSIP Number)

Stephen Bruce
1211 Air Way,
Glendale, CA, 91201
818.247.6000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/16/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 233912104

1

Name of reporting person

Peter D. Kaufman

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 119,175.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 119,175.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

119,175.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.7 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: DAILY JOURNAL CORP
(c)	Address of Issuer's Principal Executive Offices: 915 EAST FIRST STREET, LOS ANGELES, CALIFORNIA , 90012.
Item 2.	Identity and Background
(a)	Peter D. Kaufman (Trustee)
(b)	1211 Air Way, Glendale, CA 91201
(c)	Corporate Officer, Glenair, Inc., 1211 Air Way, Glendale, CA 91201
(d)	None
(e)	None
(f)	Mr. Kaufman is a citizen of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	Mr. Kaufman acts as trustee of certain trusts (the "Trusts") which hold in the aggregate 119,176 shares of Common Stock (the "Shares").
Item 4.	Purpose of Transaction
	As of the date of this filing, Mr. Kaufman plans to terminate these Trusts during the first quarter of 2026. Prior to these terminations, the Shares will be distributed to the Trusts' beneficiaries and, upon these distributions, Mr. Kaufman will no longer beneficially own any of the Shares.
Item 5.	Interest in Securities of the Issuer
(a)	See rows (11) and (13) of the cover page to this Schedule 13D for the aggregate number of Shares and percentage of Shares beneficially owned by Mr. Kaufman. The aggregate percentage of Shares reported beneficially owned by Mr. Kaufman is based upon 1,377,722 Shares outstanding as of December 16, 2025, as disclosed in the Annual Report on Form 10-K for the fiscal year ended September 30, 2025, filed by the Issuer with the Securities and Exchange Commission on December 29, 2025.
(b)	See rows (7) through (10) of the cover page to this Schedule 13D for the Shares as to which Mr. Kaufman has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	On December 9, 2025, the Trusts sold 1,429 Shares for an average price per share of $464.75. On December 10, 2025, the Trusts sold 4,691 Shares for an average price per share of $472.17. On December 11, 2025, the Trusts sold 6,001 Shares for an average price per share of $480.35.
(d)	Not applicable
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	None
Item 7.	Material to be Filed as Exhibits.
	None

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Peter D. Kaufman

Signature:	/s/ Peter D. Kaufman
Name/Title:	Peter D. Kaufman
Date:	01/16/2026

FAQ

Who is the reporting person in this Daily Journal Corp (DJCO) Schedule 13D/A?

The reporting person is Peter D. Kaufman, a U.S. citizen and corporate officer of Glenair, Inc., who currently reports beneficial ownership of a significant block of Daily Journal Corp common stock.

How much of Daily Journal Corp’s stock does Peter D. Kaufman report owning?

The filing states that Mr. Kaufman beneficially owns 8.7% of the outstanding common stock of Daily Journal Corp, based on 1,377,722 shares outstanding as of December 16, 2025.

What does Peter D. Kaufman plan to do with the Daily Journal Corp shares held in the trusts?

Mr. Kaufman plans to terminate the trusts during the first quarter of 2026. Before termination, the shares will be distributed to the trusts’ beneficiaries, after which he will no longer beneficially own these shares.

Were there recent sales of Daily Journal Corp shares by the trusts associated with Peter D. Kaufman?

Yes. The filing reports that the trusts sold 1,429 shares at an average price of $464.75 on December 9, 2025, 4,691 shares at $472.17 on December 10, 2025, and 6,001 shares at $480.35 on December 11, 2025.

Will Peter D. Kaufman remain a significant shareholder of Daily Journal Corp after the trust terminations?

According to the filing, once the shares are distributed and the trusts are terminated in the first quarter of 2026, Mr. Kaufman will no longer beneficially own any of these shares.

Does the filing mention any agreements or special arrangements regarding Daily Journal Corp securities?

The filing states there are no contracts, arrangements, understandings or relationships with respect to Daily Journal Corp securities beyond what is described, and no material exhibits are listed.