← All Managers

Norbert Lou

Punch Card Management

Concentrated value, Buffett-inspired

$300.9M

Portfolio Value

5

Holdings

Q4 '25

Period

2026-02-17

Filed

📈 Recent Activity

Changes from previous quarter

CROXREDUCED
16.9% of portfolio
-6% shares+0.5pp
PYPLREDUCED
12.2% of portfolio
-3% shares-1.3pp
FISVSOLD
was 1.5%
Sold out position
Filing price: $128.93

Sold Out (1)

SOLDFISVFISERV INCwas 1.48%@$128.93

📊 Sector Breakdown

Portfolio allocation by sector

Financials 36.4%Unknown 35.8%Technology 27.8%

💼 Holdings

🔍

5 of 5 positions · $300.9M

This quarter: reduced 2, sold 1. Net seller.

36.4%
36.4% of portfolio
Filed ~$754800
18.9%
18.9% of portfolio
Filed ~$100
CROXREDUCED
16.9%
16.9% of portfolio (was 16.4%, trimmed)
Filed ~$86
15.6%
15.6% of portfolio
Filed ~$113
PYPLREDUCED
12.2%
12.2% of portfolio (was 13.5%, trimmed)
Filed ~$58

🚫 Sold Out (1 positions)

SOLDFISVFISERV INCwas 1.48%@$128.9337000 shares · $4.8M