2 managers · $119M totalData: SEC EDGAR 13F · 2026Q1
Manager holders · last 4 qtrsⓘ
2
2025Q2 – 2026Q1 · flat QoQ
Total position
$119M
Combined value across tracked managers
Net move this quarter
↑ Adding
Weighted by holders' share change
HolderQ actionValue% of port.Style
Patient CapitalⓘAdd+11.08%$70M2.56%Contrarian growth-value / Time arbitrage
Punch CardHold$49M18.24%Ultra-concentrated / Deep value
What managers sayⓘ
2026-04-09Patient Capital ManagementBull“The Worst Brings Out the Best in Us” - Dr. Edith EgerDetail →
2026-01-27Patient Capital ManagementBull4Q25 Quarterly WebinarDetail →
2026-01-14Patient Capital ManagementBullThe More Things Change, The More They Stay The SameDetail →
2025-10-10Patient Capital ManagementBull3Q25 Portfolio RecapDetail →
2025-10-10Patient Capital ManagementBull3Q25 Portfolio Activity & AttributionDetail →
2025-01-12Patient Capital ManagementBull4Q24 Portfolio Activity and AttributionDetail →
2024-04-10Patient Capital ManagementBull1Q24 Portfolio Activity and AttributionDetail →
2024-01-17Patient Capital ManagementBull"The big money is not in the buying and selling, but in the waiting.” - Charlie MungerDetail →
Earnings Callsⓘ
Q1 2026April 30, 2026
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Q1 results beat expectations, primarily driven by strong performance of new products (Crocs' Crocband, ballet flats, and HEYDUDE's Stretch Jersey) and the DTC channel.
On the business side, Crocs international revenue +7% YoY, led by China, India, and Japan; the LEGO collaboration became a social media hit; HEYDUDE won TikTok Shop's "Fastest-Growing Seller" award. Management emphasized positive consumer response to new products and optimized inventory management.
Guidance: Full-year EPS raised to $13.20-$13.75; HEYDUDE full-year revenue outlook improved from -7-9% to -5-7%; Crocs expected flat to +2%. Both brands expected to return to growth in H2.
Risk signals: Middle East conflict reduced distribution revenue, freight and resin costs rose, macro uncertainty increased; however, management expressed confidence in full-year guidance and did not factor in potential tariff refund benefits.