Norbert Lou Portfolio Holdings

Punch Card Management L.P.

  • $310 Million
  • Q2 2025

Punch Card Management L.P., under direction of Norbert Lou has filed its 13F form on August 14, 2025 for Q2 2025 where it was disclosed a total value porftolio of $310 Million distributed in 6 stocks.

Among their holdings, we can observe that their the top five positions include companies like: Berkshire Hathaway Inc with a value of $106M, Ishares Trishares 0 3 Mnth Tre with a value of $57M, Crocs, Inc. with a value of $53.8M, Pay Pal Holdings, Inc. with a value of $48.3M, and Pinduoduo Inc. with a value of $43.4M.

Examining the 13F form we can see an increase of $93.3M in the current position value, from $217M to 310M.

Punch Card Management L.P. is based out at Winter Park, FL

Below you can find more details about Norbert Lou portfolio as well as his latest detailed transactions.

Portfolio value $310 Million
Financial Services: $154 Million
Consumer Cyclical: $97.2 Million
ETFs: $57 Million
Industrials: $1.65 Million

Stock Holdings Table

Stock Market Cap. Holding Value (Reported) # of Shares. Last Trade Trade History
$423B
$106 Million 34.1% of portfolio
145
Q1 2025 Reduced 58.45%
$0
$57 Million 18.39% of portfolio
566,000
Q2 2025 Reduced 2.6%
$4.8B
$53.8 Million 17.36% of portfolio
531,108
Q2 2025 New
$78.6B
$48.3 Million 15.6% of portfolio
650,447
Q2 2025 New
$147B
$43.4 Million 14.02% of portfolio
415,004
Q2 2025 Added 35.29%
$373M
$1.65 Million 0.53% of portfolio
189,933
Q2 2025 Reduced 70.73%
Norbert Lou

Norbert Lou

Norbert Lou is the founder and chief investment officer of Punch Card Management, a successful investment firm that focuses on value investing. Lou is known for his expertise in value investing and his disciplined approach to investing. He has generated strong returns for his clients over the long term.
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Summary

  • Portfolio
  • No. of Stocks 6
  • Current Value $310 Million
  • Prior Value $217 Million
  • Filing
  • Period Q2 2025
  • Filing Date August 14, 2025
  • Form Type 13F-HR
  • Activity in Q2 2025
  • New Purchases 2 stocks
  • Additional Purchases 1 stocks
  • Sold out of 0 stocks
  • Reduced holdings in 2 stocks
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