Punch Card Management L.P. 13F annual report

Punch Card Management L.P. is an investment fund managing more than $301 million ran by Norbert Lou. There are currently 4 companies in Mr. Lou’s portfolio. The largest investments include Berkshire Hathaway and Ally Finl Inc, together worth $239 million.

$301 million Assets Under Management (AUM)

As of 7th November 2022, Punch Card Management L.P.’s top holding is 349 shares of Berkshire Hathaway currently worth over $142 million and making up 47.2% of the portfolio value. Relative to the number of outstanding shares of Berkshire Hathaway, Punch Card Management L.P. owns more than approximately 0.1% of the company. In addition, the fund holds 3,489,438 shares of Ally Finl Inc worth $97.1 million. The third-largest holding is Winnebago Inds Inc worth $53 million and the next is Smith & Wesson Brands worth $8.71 million, with 840,038 shares owned.

Currently, Punch Card Management L.P.'s portfolio is worth at least $301 million. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Punch Card Management L.P.

The Punch Card Management L.P. office and employees reside in Winter Park, Florida. According to the last 13-F report filed with the SEC, Norbert Lou serves as the Managing Member of the General Partner at Punch Card Management L.P..

Recent trades

In the most recent 13F filing, Punch Card Management L.P. revealed that it had increased its stake in Smith & Wesson Brands and bought 316,038 additional shares worth around $4 million. This means they effectively own approximately 0.1% of the company. Smith & Wesson Brands makes up 100.0% of the fund's Industrials sector allocation and has decreased its share price by approximately 0.1% in the past year.

On the other hand, Norbert Lou disclosed a decreased stake in Winnebago Inds Inc by 0.1%. This leaves the value of the investment at $53 million and 996,573 shares.

One of the smaller hedge funds

The two most similar investment funds to Punch Card Management L.P. are Edgemoor Capital Management and Joyn Advisors. They manage $301 million and $300 million respectively.

Norbert Lou investment strategy

Punch Card Management L.P.’s portfolio is diversified across 3 sectors. Currently, their heaviest sector is Finance — making up 47.2% of the total portfolio value. The fund focuses on investments in the United States as 50.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 25% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $348 billion.

The complete list of Punch Card Management L.P. trades based on 13F SEC filings

These positions were updated on November 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Berkshire Hathaway Inc.	No change 349	$141,858,000	47.17%
Ally Finl Inc	No change 3,489,438	$97,111,000	32.29%
Winnebago Inds Inc	13.89% 996,573	$53,028,000	17.63%
Smith & Wesson Brands, Inc.	60.31% 840,038	$8,711,000	2.90%
No transactions found
Showing first 500 out of 4 holdings