Punch Card Management L.P.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Punch Card Management L.P. reported 5 stock positions worth $256.0 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 42.4% of the portfolio, followed by Crocs (CROX, 27.2%) and PDD (PDD, 12.4%). Compared with Q1 2026, it reduced 2. The biggest sale was iShares 0-3 Month Treasury B (SGOV, shares −59%).

Most Recent 13F
Q2 2026
Location
WINTER PARK, FL
CIK
0001631664
Portfolio Value
$256.0M (Q2 2026)
SEC Filing
0001398344-26-014658 ↗ filed Aug 14, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $400.0M Q1 2024 Q2 2024: $338.3M Q2 2024 Q3 2024: $334.6M Q3 2024 Q4 2024: $315.1M Q4 2024 Q1 2025: $216.6M Q1 2025 Q2 2025: $309.9M Q2 2025 Q3 2025: $322.4M Q3 2025 Q4 2025: $300.9M Q4 2025 Q1 2026: $270.6M Q1 2026 Q2 2026: $256.0M $256.0M Q2 2026

Holdings 5 stocks · $256.0M
BRK.A Berkshire Hathaway Inc. Class A 42.42% 145 $108.6M No change
CROX Crocs Inc. 27.20% 577,170 $69.6M Reduce -2.9%
PDD PDD Holdings Inc. 12.37% 415,004 $31.7M No change
PYPL PayPal Holdings Inc. 10.61% 628,907 $27.2M No change
SGOV iShares 0-3 Month Treasury B 7.39% 188,000 $18.9M Reduce -59.1%

Portfolio Sells Q1 2026 → Q2 2026
SGOV iShares 0-3 Month Treasury B Reduce -59.1% 7.39% −9.71
CROX Crocs Inc. Reduce -2.9% 27.20% +8.97

Portfolio Buys Q1 2026 → Q2 2026
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 5$256.0MBRK.A, CROX, PDD, PYPL, SGOV
Q1 2026 5$270.6MBRK.A, CROX, SGOV, PDD, PYPL
Q4 2025 5$300.9MBRK.A, SGOV, CROX, PDD, PYPL
Q3 2025 6$322.4MBRK.A, SGOV, PDD, CROX, PYPL
Q2 2025 6$309.9MBRK.A, SGOV, CROX, PYPL, PDD
Q1 2025 4$216.6MBRK.A, SGOV, PDD, SWBI
Q4 2024 4$315.1MBRK.A, SGOV, PDD, SWBI
Q3 2024 4$334.6MBRK.A, SGOV, WGO, SWBI
Q2 2024 4$338.3MBRK.A, SGOV, WGO, SWBI
Q1 2024 5$400.0MBRK.A, ALLY, WGO, SWBI, SGOV