Norbert Lou – Punch Card Management Portfolio Activity & Recent Trades (Jun 30, 2025)
As of Jun 30, 2025, the Punch Card Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q2 2025, the filing reported:
Increases – PDD Holdings Inc. (PDD)
Complete Exits – None reported
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
Punch Card Management Activity
| Date | Symbol | Type | Quantity |
|---|---|---|---|
Q2 2025Jun 30, 2025 | PYPL PayPal Holdings, Inc. | Buy - Position Entry | +650,447 |
Q2 2025Jun 30, 2025 | CROX Crocs, Inc. | Buy - Position Entry | +531,108 |
Q2 2025Jun 30, 2025 | PDD PDD Holdings Inc. | Buy | +108,253+35.3% |
Q2 2025Jun 30, 2025 | SGOV iShares 0-3 Month Treasury Bond | Sell | -15,100-2.6% |
Q2 2025Jun 30, 2025 | SWBI Smith & Wesson Brands, Inc. | Sell | -459,023-70.7% |
Q1 2025Mar 31, 2025 | PDD PDD Holdings Inc. | Buy | +176,751+136.0% |
Q1 2025Mar 31, 2025 | BRK-A Berkshire Hathaway Inc. | Sell | -204-58.5% |
Q4 2024Dec 31, 2024 | PDD PDD Holdings Inc. | Buy - Position Entry | +130,000 |
Q4 2024Dec 31, 2024 | SWBI Smith & Wesson Brands, Inc. | Sell | -191,082-22.7% |
Q4 2024Dec 31, 2024 | WGO Winnebago Industries, Inc. | Sell - Position Exit | -411,480-100.0% |
Q3 2024Sep 30, 2024 | WGO Winnebago Industries, Inc. | Sell | -585,093-58.7% |
Q2 2024Jun 30, 2024 | SGOV iShares 0-3 Month Treasury Bond | Buy | +556,000+2215.1% |
Q2 2024Jun 30, 2024 | ALLY Ally Financial Inc. | Sell - Position Exit | -2,160,534-100.0% |
Q1 2024Mar 31, 2024 | ALLY Ally Financial Inc. | Sell | -849,202-28.2% |
Q4 2023Dec 31, 2023 | ALLY Ally Financial Inc. | Sell | -288,181-8.7% |
Q3 2023Sep 30, 2023 | SGOV iShares 0-3 Month Treasury Bond | Buy - Position Entry | +25,100 |
Q2 2023Jun 30, 2023 | ALLY Ally Financial Inc. | Sell | -191,521-5.5% |
Q3 2022Sep 30, 2022 | SWBI Smith & Wesson Brands, Inc. | Buy | +316,038+60.3% |
Q3 2022Sep 30, 2022 | WGO Winnebago Industries, Inc. | Sell | -160,701-13.9% |
Q2 2022Jun 30, 2022 | SWBI Smith & Wesson Brands, Inc. | Buy - Position Entry | +524,000 |
Q2 2022Jun 30, 2022 | ALLY Ally Financial Inc. | Buy | +199,138+6.1% |
Q2 2022Jun 30, 2022 | WGO Winnebago Industries, Inc. | Buy | +1,900+0.2% |
Q1 2022Mar 31, 2022 | WGO Winnebago Industries, Inc. | Buy | +132,421+12.9% |
Q2 2020Jun 30, 2020 | ALLY Ally Financial Inc. | Buy | +1,506,747+84.5% |
Q2 2020Jun 30, 2020 | BRK-A Berkshire Hathaway Inc. | Sell | -18-4.9% |
Q2 2020Jun 30, 2020 | NVR NVR, Inc. | Sell - Position Exit | -2,531-100.0% |
Q2 2020Jun 30, 2020 | WGO Winnebago Industries, Inc. | Sell | -1,362,787-57.1% |
Q1 2020Mar 31, 2020 | ALLY Ally Financial Inc. | Buy - Position Entry | +1,783,553 |
Q1 2020Mar 31, 2020 | WGO Winnebago Industries, Inc. | Buy | +994,190+71.4% |
Q1 2020Mar 31, 2020 | NVR NVR, Inc. | Buy - Position Entry | +2,531 |