Punch Card Management

Q2 2023 13F · by Norbert Lou, founder

As of: Jun 30, 2023
Filed: Aug 14, 2023
US stock: $347M · prev $319M
Positions: 4 · prev 4
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves1 since the prior filing

0.0 pp in · −2.2 pp out

New 0 0.00 pp
Added 0 0.00 pp
Trimmed 1 −2.20 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 3 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions100% of US stock

BRK.A Berkshire Hathaway Inc. held held52.0%
ALLY Ally Financial Inc. trimmed−2.20 pp trimmed−2.2025.7%
WGO Winnebago Industries, Inc. held held19.1%
SWBI Smith & Wesson Brands, Inc. held held3.1%

Positions4 in this filing · 0 exited


BRK.ABerkshire Hathaway Inc.	52.05%	349	$181M	held	—	35 q
ALLYAlly Financial Inc.	25.66%	3,297,917	$89M	trimmed−5%	−2.20 pp	14 q
WGOWinnebago Industries, Inc.	19.14%	996,573	$66M	held	—	18 q
SWBISmith & Wesson Brands, Inc.	3.15%	840,038	$11M	held	—	5 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001398344-23-014860
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet