Punch Card Management L.P.

CIK: 0001631664SEC EDGAR →

Portfolio Value

$300.0B

Holdings

5

As of

Q4 2025

New Positions

1

Closed Positions

1

Portfolio Value History

Top 10 Holdings

Rank	Stock	Shares	Value	% of Portfolio
1	BRK-B BERKSHIRE HATHAWAY INC DEL	145	$109.0B	36.33%
2	SGOV ISHARES TR	566,000	$56.0B	18.67%
3	CROX CROCS INC	594,570	$50.0B	16.67%
4	PDD PDD HOLDINGS INC	415,004	$47.0B	15.67%
5	PYPL PAYPAL HLDGS INC	628,907	$36.0B	12.00%

Quarterly Changes

Top Buys

No buys this quarter

Top Sells

PYPL↓ Decreased

$7.6B

FISVCLOSED

$4.8B

CROX↓ Decreased

$2.8B

Closed Positions (1)

$4.8B · 37K shares

Sector Breakdown

Sector	# Holdings	Value	%
Unknown	1	$109.0B	36.6%
Consumer Cyclical	2	$97.0B	32.6%
Financial Services	2	$92.0B	30.9%