13F filing recap · Q1 2016

What did Punch Card Management buy in Q1 2016?

Reported stock-position changes between this filing and the previous one.

Stock value

$206.71M

Positions

Estimated turnover

28.3%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Increased positions

BIDUBaidu, Inc.$104.25Mreported value+194.4K shares+55.3%

Exited positions

TROWPrice T Rowe Group Inc$16.64Mprior reported value-232.8K shares-100.0%CRCMCare.com Inc$2.31Mprior reported value-322.2K shares-100.0%