Punch Card Management (Norbert Lou)
Punch Card Management L.P. · CIK 0001631664 · WINTER PARK, FL · Quarter end: 2026-06-30 · Filed on: 2026-08-14 · Open the SEC source ↗Value Investor
Portfolio Value (AUM)Total value of the fund's US stock portfolio reported to the SEC.
$256.0M
2026 Q2
Positions
5
Top-10 ConcentrationHow much of the portfolio sits in the 10 largest holdings. High = concentrated bets.
100.0%
Est. Net Flow (Q)
—
2026 Q2
AUM History
Quarterly History · 40 Quarter
| Quarter | Filed | Holdings | Total Value | Turnover % | Top 10 |
|---|---|---|---|---|---|
| 2026 Q2 | 2026-08-14 | 5 | $256.0M | 0.0% | BRK-A, CROX, PDD, PYPL, SGOV |
| 2026 Q1 | 2026-05-15 | 5 | $270.6M | 0.0% | BRK-A, CROX, SGOV, PDD, PYPL |
| 2025 Q4 | 2026-02-17 | 5 | $300.9M | 1.5% | BRK-A, SGOV, CROX, PDD, PYPL |
| 2025 Q3 | 2025-11-14 | 6 | $322.4M | 2.0% | BRK-A, SGOV, PDD, CROX, PYPL, FISV |
| 2025 Q2 | 2025-08-14 | 6 | $309.9M | 38.8% | BRK-A, SGOV, CROX, PYPL, PDD, SWBI |
| 2025 Q1 | 2025-05-15 | 4 | $216.6M | 0.0% | BRK-A, SGOV, PDD, SWBI |
| 2024 Q4 | 2025-02-14 | 4 | $315.1M | 11.2% | BRK-A, SGOV, PDD, SWBI |
| 2024 Q3 | 2024-11-14 | 4 | $334.6M | 0.0% | BRK-A, SGOV, WGO, SWBI |
| 2024 Q2 | 2024-08-14 | 4 | $338.3M | 23.8% | BRK-A, SGOV, WGO, SWBI |
| 2024 Q1 | 2024-05-15 | 5 | $400.0M | 0.0% | BRK-A, ALLY, WGO, SWBI, SGOV |
| 2023 Q4 | 2024-02-14 | 5 | $381.0M | 0.0% | BRK-A, ALLY, WGO, SWBI, SGOV |
| 2023 Q3 | 2023-11-14 | 5 | $346.1M | 0.7% | BRK-A, ALLY, WGO, SWBI, SGOV |
| 2023 Q2 | 2023-08-14 | 4 | $347.2M | 0.0% | BRK-A, ALLY, WGO, SWBI |
| 2023 Q1 | 2023-05-15 | 4 | $319.3M | 0.0% | BRK-A, ALLY, WGO, SWBI |
| 2022 Q4 | 2023-02-14 | 4 | $308.7M | 0.0% | BRK-A, ALLY, WGO, SWBI |
| 2022 Q3 | 2022-11-14 | 4 | $300.7M | 0.0% | BRK-A, ALLY, WGO, SWBI |
| 2022 Q2 | 2022-08-15 | 4 | $322.7M | 1.9% | BRK-A, ALLY, WGO, SWBI |
| 2022 Q1 | 2022-05-16 | 3 | $390.1M | 0.0% | BRK-A, ALLY, WGO |
| 2021 Q4 | 2022-02-14 | 3 | $390.6M | 0.0% | BRK-A, ALLY, WGO |
| 2021 Q3 | 2021-11-15 | 3 | $385.7M | 0.0% | ALLY, BRK-A, WGO |
| 2021 Q2 | 2021-08-16 | 3 | $379.6M | 0.0% | ALLY, BRK-A, WGO |
| 2021 Q1 | 2021-05-17 | 3 | $361.8M | 0.0% | ALLY, BRK-A, WGO |
| 2020 Q4 | 2021-02-16 | 3 | $300.0M | 0.0% | BRK-A, ALLY, WGO |
| 2020 Q3 | 2020-11-16 | 3 | $247.0M | 0.0% | BRK-A, ALLY, WGO |
| 2020 Q2 | 2020-08-14 | 3 | $226.7M | 3.1% | BRK-A, WGO, ALLY |
| 2020 Q1 | 2020-05-15 | 4 | $198.4M | 32.9% | BRK-A, WGO, ALLY, NVR |
| 2019 Q4 | 2020-02-14 | 3 | $240.4M | 0.0% | BRK-A, WGO, BIDU |
| 2019 Q3 | 2019-11-14 | 3 | $202.2M | 0.0% | BRK-A, WGO, BIDU |
| 2019 Q2 | 2019-08-14 | 3 | $209.6M | 10.6% | BRK-A, WGO, BIDU |
| 2019 Q1 | 2019-05-15 | 4 | $211.9M | 32.3% | BRK-A, BIDU, WGO, PCG |
| 2018 Q4 | 2019-02-14 | 3 | $160.8M | 3.3% | BRK-A, BIDU, WFC |
| 2018 Q3 | 2018-11-14 | 4 | $162.6M | 2.0% | BRK-A, BIDU, 949746119, WFC |
| 2018 Q2 | 2018-08-14 | 5 | $154.7M | 0.0% | BRK-A, BIDU, 949746119, CVNA, WFC |
| 2018 Q1 | 2018-05-15 | 4 | $155.6M | 1.0% | BRK-A, BIDU, 949746119, CVNA |
| 2017 Q4 | 2018-02-14 | 3 | $176.8M | 0.0% | BRK-A, BIDU, 949746119 |
| 2017 Q3 | 2017-11-14 | 3 | $164.7M | 0.0% | BRK-A, BIDU, 949746119 |
| 2017 Q2 | 2017-08-14 | 3 | $157.4M | 0.0% | BRK-A, BIDU, 949746119 |
| 2017 Q1 | 2017-05-15 | 3 | $209.2M | 0.0% | BIDU, BRK-A, 949746119 |
| 2016 Q4 | 2017-02-14 | 3 | $214.2M | 0.0% | BRK-A, BIDU, 949746119 |
| 2016 Q3 | 2016-11-14 | 3 | $199.6M | — | BIDU, BRK-A, 949746119 |
Share counts are split-adjusted. Time held counts consecutive quarters ending with the latest filing; more than ten years shows as ">10 Years".
Related managers
Five closest superinvestors by Jaccard overlap of tickers held in the latest quarter (computed nightly).
| Manager | Overlap | Shared holdings |
|---|---|---|
| Himalaya Capital (Li Lu) | 18.2% | CROX, PDD |
| Greenlea Lane Capital (Josh Tarasoff) | 15.4% | BRK-A, SGOV |
| Aquamarine (Guy Spier) | 9.1% | BRK-A |
| Chou Associates (Francis Chou) | 5.9% | BRK-A, PYPL |
| Fairholme Capital (Bruce Berkowitz) | 5.9% | BRK-A |
Read the 2026-Q2 quarterly report · 13F Filing Calendar
13F data shows quarter-end positions, is delayed by up to 45 days and covers only long positions in US-listed securities; short positions, most derivatives and non-US assets are not reported.