Superinvestors / Punch Card Management

Norbert Lou

Punch Card Management

Very concentrated long-term value

$270.65M Portfolio value

5 positions · as of 2026-03-31 · filed 2026-05-15

This quarter

0 new0 exited0 added1 trimmed

Positions held steady are not reported as moves, so they are absent from these counts.

Trimmed: ISHARES TR

Portfolio

By weight · every resolvable issuer links to its company page · tags are this quarter's reported move

Ticker	Issuer	% of portfolio	Reported price	Value	Shares
BRK/A	BERKSHIRE HATHAWAY INC DEL· CL AUNCHANGED	38.47%	$718,140.00	$104.13M	145
CROX	CROCS INCUNCHANGED	18.24%	$83.02	$49.36M	594.6K
—	ISHARES TR· 0-3 MTH TREASURYDECREASED -18.7%	17.11%	$100.66	$46.30M	460.0K
PDD	PDD HOLDINGS INC· SPONSORED ADSUNCHANGED	15.67%	$102.18	$42.41M	415.0K
PYPL	PAYPAL HLDGS INCUNCHANGED	10.51%	$45.23	$28.45M	628.9K

Showing 5 of 5

Reported price is this manager's own reported value divided by its own reported shares at 2026-03-31 — not a live quote, and not what they paid. 13F reports no cost basis.

The top 10 positions are 100.0% of the reported portfolio, across 5 positions.

Values are as disclosed on this manager’s own 13F for its own quarter. 13F covers US-listed long equity only, so this is not the manager’s entire portfolio.

See more of Norbert Lou's portfolio

More of Norbert Lou's reported positions with their weights, and what they bought, sold and trimmed last quarter rather than the largest few — free with an account, no card required.