13F filing recap · Q3 2025
What did Punch Card Management buy in Q3 2025?
Reported stock-position changes between this filing and the previous one.
Stock value
$322.42M
Positions
6
Estimated turnover
4.7%
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.
Quarter in review
Punch Card Management opened a new position in Fiserv and exited Smith & Wesson Brands entirely. The firm also added to its Crocs stake.