Norbert Lou - Punch Card Management 13F Activity & Position Changes (Q2 2025)
According to the SEC 13F filed on Aug 14, 2025, the Punch Card Management portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q2 2025, the filing reported:
New Buys - Crocs, Inc., PayPal Holdings, Inc.
Increases - PDD Holdings Inc.
Reductions - iShares 0-3 Month Treasury Bond, Smith & Wesson Brands, Inc.
Complete Exits - None reported
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Type | Change Qty |
|---|---|---|---|
|
Q2 2025
|
CROX
Crocs, Inc.
|
Buy - Position Entry |
+531,108
|
|
Q2 2025
|
PDD
PDD Holdings Inc.
|
Buy |
+108,253
|
|
Q2 2025
|
PYPL
PayPal Holdings, Inc.
|
Buy - Position Entry |
+650,447
|
|
Q2 2025
|
SGOV
iShares 0-3 Month Treasury Bond
|
Sell |
-15,100
|
|
Q2 2025
|
SWBI
Smith & Wesson Brands, Inc.
|
Sell |
-459,023
|