Punch Card Management (Norbert Lou)
Tier 2 · solid recordConcentrated
Breadth-test add 2026-06-08 (survivorship-flagged).
Positions
5
as of Q2 2026
Top-5 concentration
100%
of equity portfolio
Latest filing
Q2 2026
13F report date
Reported holdings long US equity, by weight
| Ticker | Sector | Weight | Value | Change |
|---|---|---|---|---|
| BRK/A BERKSHIRE HATHAWAY INC DEL | — | 42.4% | $109M | HOLD |
| CROX CROCS INC | Industrials | 27.2% | $70M | TRIM |
| PDD PDD HOLDINGS INC | Industrials | 12.4% | $32M | HOLD |
| PYPL PAYPAL HLDGS INC | Industrials | 10.6% | $27M | HOLD |
| SGOV ISHARES TR | — | 7.4% | $19M | TRIM |
Weights are share of the manager’s reported long US-equity portfolio (13F). Options, bonds, and non-US/private holdings aren’t reported here. “Change” vs the prior reported quarter.