Punch Card Management L.P. 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Punch Card Management L.P. disclosed 6 US equity positions worth $309.9m in its Q2 2025 13F filing. The largest position was BRK/A at 34.1% of the reported book, followed by SGOV and CROX. Against the Q1 2025 filing, it opened 2 new positions, added to 1 and reduced 2 among the top 6 holdings.
What did Punch Card Management L.P. own in Q2 2025? Top 6 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BRK/A BERKSHIRE HATHAWAY INC DEL | 34.1% | $105.7m | 145 | 0% | held | |
| 2 | SGOV ISHARES TR | 18.4% | $57.0m | 566,000 | -3% | reduced | |
| 3 | CROX CROCS INC | Consumer Cyclical | 17.4% | $53.8m | 531,108 | – | new |
| 4 | PYPL PAYPAL HLDGS INC | Financial Services | 15.6% | $48.3m | 650,447 | – | new |
| 5 | PDD PDD HOLDINGS INC | Consumer Cyclical | 14.0% | $43.4m | 415,004 | 35% | added |
| 6 | SWBI SMITH & WESSON BRANDS INC | Industrials | 0.5% | $1.6m | 189,933 | -71% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.