Punch Card Management

Q4 2023 13F · by Norbert Lou, founder

As of: Dec 31, 2023
Filed: Feb 14, 2024
US stock: $381M · prev $346M
Positions: 5 · prev 5
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 +2.16 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 held49.7%
ALLY Ally Financial Inc. trimmed+2.16 pp trimmed+2.1627.6%
WGO Winnebago Industries, Inc. held held19.1%
SWBI Smith & Wesson Brands, Inc. held held3.0%
SGOV iShares 0-3 Month Treasury Bond ETF held held0.7%

Positions5 in this filing · 0 exited


BRK.ABerkshire Hathaway Inc.	49.70%	349	$189M	held	—	37 q
ALLYAlly Financial Inc.	27.58%	3,009,736	$105M	trimmed−9%	+2.16 pp	16 q
WGOWinnebago Industries, Inc.	19.06%	996,573	$73M	held	—	20 q
SWBISmith & Wesson Brands, Inc.	2.99%	840,038	$11M	held	—	7 q
SGOViShares 0-3 Month Treasury Bond ETF	0.66%	25,100	$3M	held	—	2 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001398344-24-003178
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet