Norbert Lou / Punch Card
Tier 2 · PRIORITY · cloneable
· 31-DEC-2025 → 31-MAR-2026
AUM $270,645,674 · 5 positions · top-10 100.0%
· SEC filing history →
13FScore 46/100 — cloning their disclosed top holdings over ~4.6y returned +3%/yr vs S&P +11%/yr (alpha -8%/yr), ahead of the market in 37% of quarters. Cloneable 13F equity book only — excludes hedges/shorts/non-US.
New positions
| Issuer | % book | Value | Conviction | Business |
|---|
| none |
Added to (≥+25% shares)
| Issuer | % book | Δ shares | Conviction | Business |
|---|
| none |
Top holdings now
| Issuer | % book | Business |
|---|
| $BRK.A · BERKSHIRE HATHAWAY INC DEL | 38.5% | Buffett conglomerate — insurance, railroads, utilities, equities |
| $CROX · CROCS INC | 18.2% | Casual footwear maker (Crocs, Hey Dude) |
| $SGOV · ISHARES TR | 17.1% | BlackRock iShares ETF family (index funds) |
| $PDD · PDD HOLDINGS INC | 15.7% | Pinduoduo and Temu e-commerce platforms |
| $PYPL · PAYPAL HLDGS INC | 10.5% | Digital payments and money-transfer platform |