Punch Card Management L.P.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Punch Card Management L.P. reported 4 stock positions worth $216.6 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 53.4% of the portfolio, followed by iShares 0-3 Month Treasury B (SGOV, 27.0%) and PDD (PDD, 16.8%). Compared with Q4 2024, it added to 1 and reduced 1. The biggest buy was PDD (PDD, shares +136%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −58%).
- Most Recent 13F
- Q2 2026
- Location
- WINTER PARK, FL
- CIK
- 0001631664
- Portfolio Value
- $216.6M (Q1 2025)
- SEC Filing
- 0001398344-25-009646 ↗ filed May 15, 2025
Holdings Value
Holdings 4 stocks · $216.6M
Portfolio Sells Q4 2024 → Q1 2025
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -58.5% | 53.44% | −21.97 |
Portfolio Buys Q4 2024 → Q1 2025
| PDD PDD Holdings Inc. | Add +136.0% | 16.76% | +12.76 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 5 | $256.0M | BRK.A, CROX, PDD, PYPL, SGOV |
| Q1 2026 | 5 | $270.6M | BRK.A, CROX, SGOV, PDD, PYPL |
| Q4 2025 | 5 | $300.9M | BRK.A, SGOV, CROX, PDD, PYPL |
| Q3 2025 | 6 | $322.4M | BRK.A, SGOV, PDD, CROX, PYPL |
| Q2 2025 | 6 | $309.9M | BRK.A, SGOV, CROX, PYPL, PDD |
| Q1 2025 | 4 | $216.6M | BRK.A, SGOV, PDD, SWBI |
| Q4 2024 | 4 | $315.1M | BRK.A, SGOV, PDD, SWBI |
| Q3 2024 | 4 | $334.6M | BRK.A, SGOV, WGO, SWBI |
| Q2 2024 | 4 | $338.3M | BRK.A, SGOV, WGO, SWBI |
| Q1 2024 | 5 | $400.0M | BRK.A, ALLY, WGO, SWBI, SGOV |