Punch Card Management L.P.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Punch Card Management L.P. reported 4 stock positions worth $315.1 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 75.4% of the portfolio, followed by iShares 0-3 Month Treasury B (SGOV, 18.5%) and PDD (PDD, 4.0%). Compared with Q3 2024, it opened 1 new position, sold out of 1 and reduced 1. The biggest buy was a new position in PDD (PDD) and the biggest sale an exit from Winnebago Industries (WGO).

Most Recent 13F
Q2 2026
Location
WINTER PARK, FL
CIK
0001631664
Portfolio Value
$315.1M (Q4 2024)
SEC Filing
0001398344-25-002912 ↗ filed Feb 14, 2025

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 $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 Q2 2026

Holdings 4 stocks · $315.1M
BRK.A Berkshire Hathaway Inc. Class A 75.42% 349 $237.6M No change
SGOV iShares 0-3 Month Treasury B 18.50% 581,100 $58.3M No change
PDD PDD Holdings Inc. 4.00% 130,000 $12.6M New
SWBI Smith & Wesson Brands Inc. 2.08% 648,956 $6.6M Reduce -22.8%

Portfolio Sells Q3 2024 → Q4 2024
WGO Winnebago Industries Sold out 0.00% −7.15
SWBI Smith & Wesson Brands Inc. Reduce -22.8% 2.08% −1.18

Portfolio Buys Q3 2024 → Q4 2024
PDD PDD Holdings Inc. New 4.00% +4.00

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