Norbert Lou - Punch Card Management Portfolio Position Sizes (Q2 2026)

According to the SEC 13F filed on Aug 14, 2026, the Punch Card Management portfolio balances reported a total equity value of $255.95M across 5 publicly traded holdings as of quarter-end Jun 30, 2026.

The portfolio balances highlight BERKSHIRE HATHAWAY INC DEL (BRK-A) as the single largest position, accounting for 42.4% of total equity value, followed by CROCS INC (CROX), PDD HOLDINGS INC (PDD), ISHARES TR (SGOV), and others. Collectively, the top five holdings represent 89.4% of the portfolio, showing how capital is distributed among core positions and long-term investments.