Canonical: https://ownershiptrace.com/13f/investors/59

# Punch Card Management portfolio — 13F holdings Q2 2026

Punch Card Management (Norbert Lou) reported 5 long positions worth $256 million as of 2026-06-30. Top holdings: BERKSHIRE HATHAWAY INC, Crocs, Inc., PDD Holdings Inc., PayPal Holdings, Inc., iShares 0-3 Month Treasury Bond ETF. Quarterly changes and source links to the original SEC 13F filings. Long options are listed separately in the interactive view.

## Reported share positions (up to 20)

| Company | Report period | Value | Portfolio weight | Change | Source |
|  --- | --- | --- | --- | --- | --- |
| [BERKSHIRE HATHAWAY INC](https://ownershiptrace.com/13f/companies/152) | 2026-06-30 | 108583250.00 USD | 42.42% | hold | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-014658-index.html) |
| [Crocs, Inc.](https://ownershiptrace.com/13f/companies/980) | 2026-06-30 | 69629789.00 USD | 27.20% | reduce | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-014658-index.html) |
| [PDD Holdings Inc.](https://ownershiptrace.com/13f/companies/287) | 2026-06-30 | 31656505.00 USD | 12.37% | hold | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-014658-index.html) |
| [PayPal Holdings, Inc.](https://ownershiptrace.com/13f/companies/368) | 2026-06-30 | 27156204.00 USD | 10.61% | hold | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-014658-index.html) |
| [iShares 0-3 Month Treasury Bond ETF](https://ownershiptrace.com/13f/companies/7929) | 2026-06-30 | 18925960.00 USD | 7.39% | reduce | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-014658-index.html) |

## Recent source filings (up to 20)

| Report period | Filed | Form | Source |
|  --- | --- | --- | --- |
| 2026-06-30 | 2026-08-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-014658-index.html) |
| 2026-03-31 | 2026-05-15 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-009301-index.html) |
| 2025-12-31 | 2026-02-17 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-26-003291-index.html) |
| 2025-09-30 | 2025-11-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-25-020995-index.html) |
| 2025-06-30 | 2025-08-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-25-015669-index.html) |
| 2025-03-31 | 2025-05-15 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-25-009646-index.html) |
| 2024-12-31 | 2025-02-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-25-002912-index.html) |
| 2024-09-30 | 2024-11-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-24-020870-index.html) |
| 2024-06-30 | 2024-08-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-24-014692-index.html) |
| 2024-03-31 | 2024-05-15 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-24-009709-index.html) |
| 2023-12-31 | 2024-02-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-24-003178-index.html) |
| 2023-09-30 | 2023-11-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-23-020705-index.html) |
| 2023-06-30 | 2023-08-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-23-014860-index.html) |
| 2023-03-31 | 2023-05-15 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-23-009836-index.html) |
| 2022-12-31 | 2023-02-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-23-003385-index.html) |
| 2022-09-30 | 2022-11-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-22-022111-index.html) |
| 2022-06-30 | 2022-08-15 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-22-015665-index.html) |
| 2022-03-31 | 2022-05-16 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-22-009745-index.html) |
| 2021-12-31 | 2022-02-14 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-22-003287-index.html) |
| 2021-09-30 | 2021-11-15 00:00:00 | 13F-HR | [Original filing](https://www.sec.gov/Archives/edgar/data/1631664/0001398344-21-021565-index.html) |

Public disclosures can be delayed, incomplete, or amended. Report period describes a position date; transaction date describes a reported transaction; filed describes submission. A recent filing or page update does not establish a current holding. A dash means unavailable or not comparable, not zero.

This public summary shows the default reporting scope. Enable JavaScript for interactive filters, charts, and additional rows.

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