Courant Investment Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), Courant Investment Management LLC reported 6 stock positions worth $110.6 million. Its top holding was JPMorgan Chase (JPM) at 24.4% of the portfolio, followed by Progressive (PGR, 23.9%) and Schwab (charles) (SCHW, 16.6%). Compared with Q3 2025, it sold out of 1, added to 1 and reduced 3. The biggest buy was Fiserv (FISV, shares +124%) and the biggest sale an exit from Carmax (KMX).
- Most Recent 13F
- Q2 2026
- Location
- FRANKLIN, TN
- CIK
- 0001695426
- Portfolio Value
- $110.6M (Q4 2025)
- SEC Filing
- 0001398344-26-001029 ↗ filed Jan 22, 2026
Holdings Value
Holdings 6 stocks · $110.6M
| JPM JPMorgan Chase & Co. | 24.38% | 83,697 | $27.0M | Reduce -11.8% |
| PGR Progressive Corp. | 23.92% | 116,170 | $26.5M | No change |
| SCHW Schwab (charles) Corp. | 16.58% | 183,499 | $18.3M | Reduce -7.6% |
| ULTA Ulta Beauty Inc. | 12.68% | 23,173 | $14.0M | Reduce -11.5% |
| FISV Fiserv Inc. | 11.54% | 190,000 | $12.8M | Add +123.5% |
| LOW Lowe's Cos Inc. | 10.90% | 50,000 | $12.1M | No change |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| FISV Fiserv Inc. | Add +123.5% | 11.54% | +2.88 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 7 | $103.0M | PGR, JPM, SCHW, LOW, ULTA |
| Q1 2026 | 7 | $102.4M | PGR, JPM, SCHW, LOW, ULTA |
| Q4 2025 | 6 | $110.6M | JPM, PGR, SCHW, ULTA, FISV |
| Q3 2025 | 7 | $126.5M | JPM, PGR, SCHW, ULTA, LOW |
| Q2 2025 | 8 | $123.5M | PGR, JPM, SCHW, KMX, ULTA |
| Q1 2025 | 8 | $119.4M | PGR, JPM, KMX, SCHW, LOW |
| Q4 2024 | 8 | $118.2M | PGR, JPM, KMX, SCHW, LOW |
| Q3 2024 | 9 | $119.0M | PGR, JPM, KMX, LOW, SCHW |
| Q2 2024 | 9 | $106.6M | PGR, JPM, KMX, SCHW, LOW |
| Q1 2024 | 9 | $120.3M | PGR, JPM, KMX, SCHW, LOW |