Norbert Lou's Investment Activity at Punch Card Management Q1 2026
A detailed analysis of Norbert Lou's investment actions for Punch Card Management as of March 31, 2026, focusing on changes in holdings.

In this filing dated March 31, 2026, we examine the investment activities of Norbert Lou, Director at Punch Card Management, focusing on changes to his portfolio during the most recent reporting period.
Regarding observable increases in holdings during this quarter, no purchases or significant additions to existing positions are disclosed in this filing. The data provided does not indicate any new stock acquisitions or increases in the share count of any holdings.
Conversely, the data reveals a decrease in holdings for the stock ISHARES TR (SGOV) (Symbol: SGOV). Specifically, the number of shares held decreased by 106,000, representing an 18.73% reduction from the previous period. This indicates an observable sale or reduction in position for this stock.
As for new positions initiated or complete exits, the data provided only includes information on one holding, ISHARES TR (SGOV). Therefore, no activity involving new stock acquisitions or exits from positions can be confirmed based on the available information.
For a complete overview of Norbert Lou's investment profile and holdings, please visit the investor profile on Insiderset: https://www.insiderset.com/investor/norbert-lou-punch-card-management. Detailed information on ISHARE (SGOV) can be found at https://www.insiderset.com/investors/stocks/SGOV.