One name, PDD Holdings Inc (PDD), is 12.37% of what Norbert Lou's Punch Card Management reports for 2026 Q2, according to the 13F-HR filed with the SEC on August 14, 2026. The stake is 415K shares worth about $31.7M, the 3rd largest of 5 stock positions. Norbert Lou left the share count unchanged from the prior quarter.
What did the 2026 Q2 filing report for PDD?
As of June 30, 2026, from the 13F-HR filed August 14, 2026.
| Value | |
|---|---|
| Portfolio weight | 12.37% |
| Shares | 415K |
| Reported value | $31.7M |
| Rank in portfolio | 3rd of 5 |
| Largest holding | BRK-A at 42.42% |
| Top three holdings | 82% of the book |
| Change this quarter | unchanged |
How concentrated is Norbert Lou in PDD?
PDD at 12.37% is 0.6 times the average stock position in the Norbert Lou portfolio, which is 20%. The largest holding is BRK-A at 42.42%. The three largest stocks together are 82% of the reported book. A quarter earlier PDD was 15.67% of the book.
Where does PDD sit in the Norbert Lou portfolio?
PDD ranks 3rd of 5 stock positions in the Norbert Lou portfolio at 12.37%, below the fund's average stock position of 20%. Across the 2026 Q2 portfolio, Norbert Lou reported 5 stock positions, with no position opened or closed. The total portfolio value is about $256M, down 5% from the prior quarter.
How long has Norbert Lou held PDD?
Norbert Lou first reported PDD in the quarter ended December 31, 2024. The weight peaked at 17.01% in 2025 Q3. The share count was unchanged the quarter before. Every reported trade is on the Norbert Lou PDD trade history page.
Did other funds buy or sell PDD in 2026 Q2?
Among the other tracked funds that had filed for 2026 Q2 as of August 14, 2026, 3 hold PDD. Another 3 sold out of it. The largest buyers of PDD this quarter were Duan Yongping and Li Lu. The largest sellers were Lewis Sanders, David Tepper and Sarah Ketterer. Every tracked holder of PDD is on the PDD ownership page.
FAQ
What share of the Norbert Lou portfolio is PDD?
PDD is 12.37% of the Norbert Lou portfolio as of 2026 Q2, the 3rd largest of 5 stock positions.
What is the PDD stake of Norbert Lou worth?
Norbert Lou holds 415K shares of PDD, worth about $31.7M at June 30, 2026 prices, 12.37% of the reported portfolio.
What are the largest holdings of Norbert Lou?
The largest stock positions of Norbert Lou as of 2026 Q2 are BRK-A (42.42%), CROX (27.2%) and PDD (12.37%), together 82% of the book.
Did Norbert Lou's Punch Card Management change its PDD position in 2026 Q2?
Norbert Lou left the share count unchanged from the prior quarter.