Chou Associates Management Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Chou Associates Management Inc. reported 27 stock positions worth $201.5 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 32.2% of the portfolio, followed by Alphabet Class C (GOOG, 11.3%) and Synchrony Financial (SYF, 8.9%). Compared with Q3 2025, it sold out of 3 and reduced 4. The biggest sale was Sirius XM (SIRI, shares −42%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001389403
Portfolio Value
$201.5M (Q4 2025)
SEC Filing
0001104659-26-015054 ↗ filed Feb 13, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $85.8M Q1 2024 Q2 2024: $138.5M Q2 2024 Q3 2024: $155.0M Q3 2024 Q4 2024: $143.5M Q4 2024 Q1 2025: $181.9M Q1 2025 Q2 2025: $182.8M Q2 2025 Q3 2025: $207.7M Q3 2025 Q4 2025: $201.5M $201.5M Q4 2025 Q1 2026: $207.8M Q1 2026 Q2 2026: $216.6M Q2 2026

Holdings 27 stocks · $201.5M
BRK.A Berkshire Hathaway Inc. Class A 32.21% 86 $64.9M No change
GOOG Alphabet Inc. Class C 11.27% 72,390 $22.7M Reduce -12.1%
SYF Synchrony Financial 8.93% 215,702 $18.0M No change
STLA Stellantis NV 7.53% 1,394,194 $15.2M No change
OXY Occidental Petroleum Corp. 6.39% 313,000 $12.9M No change
AAPL Apple Inc. 5.93% 44,000 $12.0M No change
ALLY Ally Financial Inc. 5.07% 225,525 $10.2M No change
SIRI Sirius XM Holdings Inc. 4.06% 409,589 $8.2M Reduce -41.7%
BABA Alibaba Group Holding-SP ADR 3.05% 41,900 $6.1M No change
WFC Wells Fargo & Co. 2.75% 59,542 $5.5M No change
GM General Motors Co. 2.10% 52,000 $4.2M No change
C Citigroup Inc. 1.89% 32,695 $3.8M Reduce -43.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.36% 50,000 $2.8M No change
POOL Pool Corp. 1.21% 10,636 $2.4M No change
PYPL PayPal Holdings Inc. 1.19% 41,000 $2.4M No change
MBI Mbia Inc. 1.14% 321,000 $2.3M No change
CASH Pathward Financial Inc. 0.96% 27,389 $1.9M No change
AGO Assured Guaranty Ltd. 0.49% 10,990 $988K No change
CYD China Yuchai Intl Ltd. 0.41% 23,364 $829K No change
MEOH Methanex Corp. 0.39% 20,000 $793K No change
MCO Moody's Corp. 0.38% 1,500 $766K Reduce -74.6%
JEF Jefferies Financial Group Inc. 0.34% 10,987 $681K No change
MGA Magna International Inc. 0.26% 10,000 $533K No change
LPX Louisiana-Pacific Corp. 0.24% 5,886 $475K No change
IMO Imperial Oil Ltd. 0.21% 5,000 $432K No change
RYAAY Ryanair Holdings PLC-SP ADR 0.21% 5,937 $429K No change
VTS Vitesse Energy Inc. 0.01% 1,293 $25K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $3K (not counted above)
SecurityClassShares / PrincipalValueChange
HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 · principal 1,000$3KNo change

Total filed on the 13F, all lines: $201.6M.

Portfolio Sells Q3 2025 → Q4 2025
SIRI Sirius XM Holdings Inc. Reduce -41.7% 4.06% −3.81
MCO Moody's Corp. Reduce -74.6% 0.38% −0.97
C Citigroup Inc. Reduce -43.3% 1.89% −0.93
LEA Lear Corp. Sold out 0.00% −0.19
SNREY Sunrise Communicat Class A Sold out 0.00% −0.07
CACC Credit Acceptance Corp. Sold out 0.00% −0.06
GOOG Alphabet Inc. Class C Reduce -12.1% 11.27% +1.61

Portfolio Buys Q3 2025 → Q4 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 31$216.6MBRK.A, GOOG, SYF, OXY, SIRI
Q1 2026 30$207.8MBRK.A, GOOG, OXY, SYF, AAPL
Q4 2025 27$201.5MBRK.A, GOOG, SYF, STLA, OXY
Q3 2025 30$207.7MBRK.A, GOOG, SIRI, SYF, OXY
Q2 2025 30$182.8MBRK.A, SIRI, GOOG, SYF, OXY
Q1 2025 31$181.9MBRK.A, SIRI, STLA, GOOG, SYF
Q4 2024 29$143.5MBRK.A, GOOG, SYF, AAPL, ALLY
Q3 2024 30$155.0MBRK.A, GOOG, OXY, AAPL, SYF
Q2 2024 29$138.5MBRK.A, GOOG, AAPL, SYF, STLA
Q1 2024 17$85.8MBRK.A, BHC, ALLY, SYF, C