Punch Card Management

Q2 2024 13F · by Norbert Lou, founder

As of: Jun 30, 2024
Filed: Aug 14, 2024
US stock: $338M · prev $400M
Positions: 4 · 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%

Moves2 since the prior filing

+16.7 pp in · −21.9 pp out

New 0 0.00 pp
Added 1 +16.67 pp
Trimmed 0 0.00 pp
Exited 1 −21.93 pp

The book

Very concentrated · behaves like 2 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 66% a year, about 1.5 years per position

Low
Moderate
High

Top 5 positions100% of US stock

BRK.A Berkshire Hathaway Inc. held held63.2%
SGOV iShares 0-3 Month Treasury Bond ETF added+16.67 pp added+16.6717.3%
WGO Winnebago Industries, Inc. held held16.0%
SWBI Smith & Wesson Brands, Inc. held held3.6%

Positions4 in this filing · 1 exited


BRK.ABerkshire Hathaway Inc.	63.17%	349	$214M	held	—	39 q
SGOViShares 0-3 Month Treasury Bond ETF	17.30%	581,100	$59M	added×23.2	+16.67 pp	4 q
WGOWinnebago Industries, Inc.	15.97%	996,573	$54M	held	—	22 q
SWBISmith & Wesson Brands, Inc.	3.56%	840,038	$12M	held	—	9 q
ALLYAlly Financial Inc.	—	−2,160,534	—	exited	−21.93 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001398344-24-014692
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet