Chou Associates Management 13F, Q3 2025
Francis Chou · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 1389403
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 31 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRK/A | $64.86M | 31.2% | unchanged |
| ALPHABET INC | GOOG | $20.07M | 9.7% | unchanged |
| SIRIUSXM HOLDINGS INC | SIRI | $16.35M | 7.9% | unchanged |
| SYNCHRONY FINANCIAL | SYF | $15.33M | 7.4% | unchanged |
| OCCIDENTAL PETE CORP | OXY | $14.79M | 7.1% | unchanged |
| STELLANTIS N.V | $13.02M | 6.3% | +102% shares | |
| APPLE INC | AAPL | $11.20M | 5.4% | unchanged |
| ALLY FINL INC | ALLY | $8.84M | 4.3% | unchanged |
| ALIBABA GROUP HLDG LTD | BABA | $7.49M | 3.6% | unchanged |
| CITIGROUP INC | C | $5.86M | 2.8% | unchanged |
| WELLS FARGO CO NEW | WFC | $4.99M | 2.4% | unchanged |
| POOL CORP | POOL | $3.30M | 1.6% | unchanged |
| GENERAL MTRS CO | GM | $3.17M | 1.5% | unchanged |
| MOODYS CORP | MCO | $2.81M | 1.4% | unchanged |
| PAYPAL HLDGS INC | PYPL | $2.75M | 1.3% | unchanged |
| BANK AMERICA CORP | BAC | $2.58M | 1.2% | unchanged |
| MBIA INC | MBI | $2.39M | 1.1% | unchanged |
| PATHWARD FINANCIAL INC | CASH | $2.03M | 1.0% | unchanged |
| CHINA YUCHAI INTL LTD | $966.6K | 0.5% | unchanged | |
| ASSURED GUARANTY LTD | $930.3K | 0.5% | unchanged | |
| METHANEX CORP | MEOH | $795.1K | 0.4% | unchanged |
| JEFFERIES FINL GROUP INC | JEF | $718.8K | 0.3% | unchanged |
| LOUISIANA PAC CORP | LPX | $522.9K | 0.3% | unchanged |
| MAGNA INTL INC | MGA | $473.8K | 0.2% | unchanged |
| IMPERIAL OIL LTD | IMO | $453.4K | 0.2% | unchanged |
What changed since Q2 2025
Against the Q2 2025 filing, Chou Associates Management opened 0 new positions, added to 1, trimmed 0, left 30 unchanged and exited 0. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
No new positions this quarter.
Exited
Nothing from the previous filing was sold outright.
Added to
- STELLANTIS N.V+102%$13.02M
Trimmed
No position was cut by more than 2%.
Other quarters
Source: SEC Form 13F-HR, accession 0001104659-25-112218, filed by Chou Associates Management Inc.. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.