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Punch Card Management L.P.

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13F filer, CIK 1631664, WINTER PARK, FL

Punch Card Management L.P. reported $322,420,153 across 6 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-020995

Period
2025-09-30
Reported value
$322M
Holdings
6
Top 10 weight
100%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CROXadded+101,142$8.45M
FISVnew+37,000$4.77M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SWBIexited-189,933-$1.65M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001398344-25-020995, largest first. % of portfolio is the value over $322,420,153, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 349 shares; 2024Q4: 349 shares; 2025Q1: 145 shares; 2025Q2: 145 shares; 2025Q3: 145 shares 145$109M33.92%0Timeline
SGOVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 581,100 shares; 2024Q4: 581,100 shares; 2025Q1: 581,100 shares; 2025Q2: 566,000 shares; 2025Q3: 566,000 shares 566,000$57M17.68%0Timeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 130,000 shares; 2025Q1: 306,751 shares; 2025Q2: 415,004 shares; 2025Q3: 415,004 shares 415,004$54.9M17.01%0Timeline
CROXCROCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 531,108 shares; 2025Q3: 632,250 shares 632,250$52.8M16.38%+101,142Timeline
PYPLPAYPAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 650,447 shares; 2025Q3: 650,447 shares 650,447$43.6M13.53%0Timeline
FISVFISERV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 37,000 shares 37,000$4.77M1.48%newTimeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SWBISMITH & WESSON BRANDS INC189,933$1.65Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001398344-25-020995 base2025-11-14acceptance time not in the bulk data set