A multitool punch holder is disclosed in which a tool carrier (22) holds a circumferential array of punches (76) in a corresponding series of bores. Each punch (76) is attached to a stem rod (50) having an upper end protruding above the tool carrier (22). The tool carrier (22) is rotated by an index drive (102, 104, 106, 108) so as to bring a selected one of the stem rods (50) beneath a ram drive features (100) protruding radially outward to lie above the stem rod ends (52). The tool carrier (22) is coupled to the ram (14) by a head member (20) which is telescopically received therein allowing the ram (14) to continue its descent after contact of the tool carrier (22) with the workpiece, the ram (14) having a feature (100) engaging a selected stem rod end (52) lying beneath the ram drive feature (100) to cause advance of the attached punch (76) against the resistance of an encircling stripper spring (62).