Chou Associates Management 13F, Q4 2025
Francis Chou · quarter ending 31 December 2025 · filed 13 February 2026 · SEC CIK 1389403
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 28 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRK/A | $64.91M | 32.2% | unchanged |
| ALPHABET INC | GOOG | $22.72M | 11.3% | -12% shares |
| SYNCHRONY FINANCIAL | SYF | $18.00M | 8.9% | unchanged |
| STELLANTIS N.V | $15.18M | 7.5% | unchanged | |
| OCCIDENTAL PETE CORP | OXY | $12.87M | 6.4% | unchanged |
| APPLE INC | AAPL | $11.96M | 5.9% | unchanged |
| ALLY FINL INC | ALLY | $10.21M | 5.1% | unchanged |
| SIRIUSXM HOLDINGS INC | SIRI | $8.19M | 4.1% | -42% shares |
| ALIBABA GROUP HLDG LTD | BABA | $6.14M | 3.0% | unchanged |
| WELLS FARGO CO NEW | WFC | $5.55M | 2.8% | unchanged |
| GENERAL MTRS CO | GM | $4.23M | 2.1% | unchanged |
| CITIGROUP INC | C | $3.82M | 1.9% | -43% shares |
| BANK AMERICA CORP | BAC | $2.75M | 1.4% | unchanged |
| POOL CORP | POOL | $2.43M | 1.2% | unchanged |
| PAYPAL HLDGS INC | PYPL | $2.39M | 1.2% | unchanged |
| MBIA INC | MBI | $2.30M | 1.1% | unchanged |
| PATHWARD FINANCIAL INC | CASH | $1.94M | 1.0% | unchanged |
| ASSURED GUARANTY LTD | $987.7K | 0.5% | unchanged | |
| CHINA YUCHAI INTL LTD | $829.4K | 0.4% | unchanged | |
| METHANEX CORP | MEOH | $793.3K | 0.4% | unchanged |
| MOODYS CORP | MCO | $766.3K | 0.4% | -75% shares |
| JEFFERIES FINL GROUP INC | JEF | $680.9K | 0.3% | unchanged |
| MAGNA INTL INC | MGA | $533.0K | 0.3% | unchanged |
| LOUISIANA PAC CORP | LPX | $475.4K | 0.2% | unchanged |
| IMPERIAL OIL LTD | IMO | $432.0K | 0.2% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Chou Associates Management opened 0 new positions, added to 0, trimmed 4, left 24 unchanged and exited 3. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001104659-26-015054, 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.