Punch Card Management L.P. 13F: Quarter-over-Quarter Portfolio Changes
Punch Card Management L.P. reported a disclosed portfolio value of approximately $270.6 million in its latest SEC Form 13F-HR filing for Q1 2026, down 10.0% quarter on quarter. Over the quarter, the manager trimmed 1 holding.
Punch Card Management L.P.'s top sell was Ishares 0-3 Month Treasury Bon (SGOV) . The manager sold 18.7% of its previously reported shares, reducing the position's portfolio weight by 1.8 percentage points.
Top SellsQ1 2026
The manager's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| ISHARES 0-3 MONTH TREASURY BON | SGOV | -1.8% | 18.7% | History → |
Net Portfolio Value ChangeQ1 2026
- $0.3BPrior quarter
- $0.3BCurrent quarter
- $-0.0BNet delta
- -10.0%% change
Methodology & FAQ
How Punch Card Management L.P. Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Punch Card Management L.P.: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Punch Card Management L.P. buy in Q1 2026?
Punch Card Management L.P. reported no new positions or share-count increases in its Q1 2026 13F filing.
What stocks did Punch Card Management L.P. sell in Q1 2026?
In Q1 2026, Punch Card Management L.P. reduced holdings in ISHARES 0-3 MONTH TREASURY BON (SGOV).
Which positions did Punch Card Management L.P. initiate in Q1 2026?
Punch Card Management L.P. established no new positions in Q1 2026.
Which existing positions saw the largest allocation increases for Punch Card Management L.P. in Q1 2026?
Punch Card Management L.P. reported no material allocation increases in existing positions in Q1 2026.
Which positions did Punch Card Management L.P. fully exit in Q1 2026?
Punch Card Management L.P. fully exited no positions in Q1 2026.
Which existing positions saw the largest allocation reductions for Punch Card Management L.P. in Q1 2026?
Of 1 existing position with share-count reductions in Q1 2026, the largest were: ISHARES 0-3 MONTH TREASURY BON (SGOV, -1.8% weight, -18.7% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.