Institutional Manager · CIK 0001631664
Punch Card Management L.P.
WINTER PARK, FL · File #028-16708
Latest AUM
$300.9M
Positions
5
Top-10 Concentration
100.0%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | FISERV INC | 337738108 | -37,000 | -$4.8M | $0 |
| REDUCE | CROCS INC | CROX | -37,680 | -$3.2M | +$1.2M |
| REDUCE | PAYPAL HLDGS INC | PYPL | -21,540 | -$1.3M | -$5.6M |
| REDUCE | BERKSHIRE HATHAWAY INC DEL | BRK-A | 0 | $0 | +$87,000 |
| REDUCE | ISHARES TR | 46436E718 | 0 | $0 | -$181,120 |
| REDUCE | PDD HOLDINGS INC | PDD | 0 | $0 | -$7.8M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 20255 pos · $300.9M
- 13F HOLDINGS REPORTQ/E Sep 20256 pos · $322.4M
- 13F HOLDINGS REPORTQ/E Jun 20256 pos · $309.9M
- 13F HOLDINGS REPORTQ/E Mar 20254 pos · $216.6M
- 13F HOLDINGS REPORTQ/E Dec 20244 pos · $315.1M
- 13F HOLDINGS REPORTQ/E Sep 20244 pos · $334.6M
- 13F HOLDINGS REPORTQ/E Jun 20244 pos · $338.3M
- 13F HOLDINGS REPORTQ/E Mar 20245 pos · $400.0M
- 13F HOLDINGS REPORTQ/E Dec 20235 pos · $346.1M
Top 5 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 145 | $109.4M | 36.38% |
| 2 | ISHARES TR | 46436E718 | 566,000 | $56.8M | 18.88% |
| 3 | CROCS INC | CROX | 594,570 | $50.8M | 16.90% |
| 4 | PDD HOLDINGS INC | PDD | 415,004 | $47.1M | 15.64% |
| 5 | PAYPAL HLDGS INC | PYPL | 628,907 | $36.7M | 12.20% |