Punch Card Management 13F, Q4 2024

Name: Punch Card Management 13F holdings, Q4 2024
Creator: Punch Card Management

Norbert Lou · quarter ending 31 December 2024 · filed 14 February 2025 · SEC CIK 1631664

$315.10M

Filed US book

Positions

75.4%

Largest position

Common stock only: shares the fund reported owning at the quarter end, valued as filed.

Largest positions, Q4 2024

Weights are against the whole filed book. Changes are in shares held, against the Q3 2024 filing.

Company	Ticker	Value	% of book	vs Q3 2024
BERKSHIRE HATHAWAY INC DEL	BRK/A	$237.64M	75.4%	unchanged
ISHARES TR	SGOV	$58.30M	18.5%	unchanged
PDD HOLDINGS INC	PDD	$12.61M	4.0%	new
SMITH & WESSON BRANDS INC	SWBI	$6.56M	2.1%	-23% shares

What changed since Q3 2024

Against the Q3 2024 filing, Punch Card Management opened 1 new position, added to 0, trimmed 1, left 2 unchanged and exited 1. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.

New positions

PDD$12.61M

Exited

WGOwas $23.91M

Added to

No position was increased by more than 2%.

Trimmed

SWBI-23%$6.56M

Other quarters

← Q3 2024 Q1 2025 →Norbert Lou's latest portfolio

Source: SEC Form 13F-HR, accession 0001398344-25-002912, filed by Punch Card Management L.P.. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.