Punch Card Management

Q3 2023 13F · by Norbert Lou, founder

As of: Sep 30, 2023
Filed: Nov 14, 2023
US stock: $346M · prev $347M
Positions: 5 · 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

+0.7 pp in · 0.0 pp out

New 1 +0.73 pp
Added 0 0.00 pp
Trimmed 0 0.00 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 held53.6%
ALLY Ally Financial Inc. held held25.4%
WGO Winnebago Industries, Inc. held held17.1%
SWBI Smith & Wesson Brands, Inc. held held3.1%
SGOV iShares 0-3 Month Treasury Bond ETF new+0.73 pp new+0.730.7%

Positions5 in this filing · 0 exited


BRK.ABerkshire Hathaway Inc.	53.59%	349	$185M	held	—	36 q
ALLYAlly Financial Inc.	25.42%	3,297,917	$88M	held	—	15 q
WGOWinnebago Industries, Inc.	17.12%	996,573	$59M	held	—	19 q
SWBISmith & Wesson Brands, Inc.	3.13%	840,038	$11M	held	—	6 q
SGOViShares 0-3 Month Treasury Bond ETF	0.73%	25,100	$3M	new	+0.73 pp	new

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001398344-23-020705
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet