Punch Card Management — PYPL

How Punch Card Management's position in PAYPAL HLDGS INC changed quarter by quarter. Change badges compare each quarter to the fund's immediately-prior filing.

Quarter	Shares	Value	% of portfolio	Change
Q1 2026	628,907	$28,445,464	10.51%	—
Q4 2025	628,907	$36,715,591	12.2%	NEW