Norbert Lou - Punch Card Management 13F Activity & Position Changes (Q2 2025)
As of Jun 30, 2025, the Punch Card Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 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
|