Norbert Lou – Punch Card Management Portfolio Balances & Equity Value (Jun 30, 2025)

As of Jun 30, 2025, the Punch Card Management portfolio balances reported a total equity value of $309.88M across 6 publicly traded holdings. These balances reflect the most recent SEC 13F filing dated Aug 14, 2025, providing an updated snapshot of assets under management.

The portfolio balances highlight BERKSHIRE HATHAWAY INC DEL (BRK-A) as the single largest position, accounting for 34.1% of total equity value, followed by ISHARES TR (SGOV), CROCS INC (CROX), PAYPAL HLDGS INC (PYPL), and others. Collectively, the top five holdings represent 99.5% of the portfolio, showing how capital is distributed among core positions and long-term investments.