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Chou Associates Management Inc.

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13F filer, CIK 1389403, TORONTO, Ontario, Canada

Chou Associates Management Inc. reported $201,552,122 across 28 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 87.19% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-26-015054

Period
2025-12-31
Reported value
$202M
Holdings
28
Top 10 weight
87.19%
New
0
Sold out
3

Largest buys vs the previous quarter

None.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SIRIreduced-292,873-$5.86M
GOOGreduced-10,000-$3.14M
Creduced-25,000-$2.92M
MCOreduced-4,399-$2.25M
LEAexited-4,000-$402K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001104659-26-015054, largest first. % of portfolio is the value over $201,552,122, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90 shares; 2024Q4: 86 shares; 2025Q1: 86 shares; 2025Q2: 86 shares; 2025Q3: 86 shares; 2025Q4: 86 shares 86$64.9M32.21%0Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,390 shares; 2024Q4: 82,390 shares; 2025Q1: 82,390 shares; 2025Q2: 82,390 shares; 2025Q3: 82,390 shares; 2025Q4: 72,390 shares 72,390$22.7M11.27%-10,000Timeline
SYFSYNCHRONY FINANCIALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 193,202 shares; 2024Q4: 215,702 shares; 2025Q1: 215,702 shares; 2025Q2: 215,702 shares; 2025Q3: 215,702 shares; 2025Q4: 215,702 shares 215,702$18M8.93%0Timeline
STLASTELLANTIS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 456,388 shares; 2024Q4: 456,388 shares; 2025Q1: 1,396,388 shares; 2025Q2: 692,000 shares; 2025Q3: 1,394,194 shares; 2025Q4: 1,394,194 shares 1,394,194$15.2M7.53%0Timeline
OXYOCCIDENTAL PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,000 shares; 2024Q4: not reported; 2025Q1: 68,000 shares; 2025Q2: 313,000 shares; 2025Q3: 313,000 shares; 2025Q4: 313,000 shares 313,000$12.9M6.39%0Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 44,000 shares; 2024Q4: 44,000 shares; 2025Q1: 44,000 shares; 2025Q2: 44,000 shares; 2025Q3: 44,000 shares; 2025Q4: 44,000 shares 44,000$12M5.93%0Timeline
ALLYALLY FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 225,525 shares; 2024Q4: 225,525 shares; 2025Q1: 225,525 shares; 2025Q2: 225,525 shares; 2025Q3: 225,525 shares; 2025Q4: 225,525 shares 225,525$10.2M5.07%0Timeline
SIRISIRIUSXM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,686 shares; 2024Q4: 12,590 shares; 2025Q1: 702,462 shares; 2025Q2: 702,462 shares; 2025Q3: 702,462 shares; 2025Q4: 409,589 shares 409,589$8.19M4.06%-292,873Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,400 shares; 2024Q4: 3,400 shares; 2025Q1: 41,900 shares; 2025Q2: 41,900 shares; 2025Q3: 41,900 shares; 2025Q4: 41,900 shares 41,900$6.14M3.05%0Timeline
WFCWELLS FARGO & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 59,542 shares; 2024Q4: 59,542 shares; 2025Q1: 59,542 shares; 2025Q2: 59,542 shares; 2025Q3: 59,542 shares; 2025Q4: 59,542 shares 59,542$5.55M2.75%0Timeline
GMGENERAL MTRS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 52,000 shares; 2025Q2: 52,000 shares; 2025Q3: 52,000 shares; 2025Q4: 52,000 shares 52,000$4.23M2.1%0Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 57,695 shares; 2024Q4: 57,695 shares; 2025Q1: 57,695 shares; 2025Q2: 57,695 shares; 2025Q3: 57,695 shares; 2025Q4: 32,695 shares 32,695$3.82M1.89%-25,000Timeline
BACBANK OF AMER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 50,000 shares; 2025Q2: 50,000 shares; 2025Q3: 50,000 shares; 2025Q4: 50,000 shares 50,000$2.75M1.36%0Timeline
POOLPOOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,636 shares; 2024Q4: 10,636 shares; 2025Q1: 10,636 shares; 2025Q2: 10,636 shares; 2025Q3: 10,636 shares; 2025Q4: 10,636 shares 10,636$2.43M1.21%0Timeline
PYPLPAYPAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 41,000 shares; 2024Q4: 41,000 shares; 2025Q1: 41,000 shares; 2025Q2: 41,000 shares; 2025Q3: 41,000 shares; 2025Q4: 41,000 shares 41,000$2.39M1.19%0Timeline
MBIMBIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 321,000 shares; 2024Q4: 321,000 shares; 2025Q1: 321,000 shares; 2025Q2: 321,000 shares; 2025Q3: 321,000 shares; 2025Q4: 321,000 shares 321,000$2.3M1.14%0Timeline
CASHPATHWARD FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,389 shares; 2024Q4: 27,389 shares; 2025Q1: 27,389 shares; 2025Q2: 27,389 shares; 2025Q3: 27,389 shares; 2025Q4: 27,389 shares 27,389$1.94M0.96%0Timeline
AGOASSURED GUARANTY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,990 shares; 2024Q4: 10,990 shares; 2025Q1: 10,990 shares; 2025Q2: 10,990 shares; 2025Q3: 10,990 shares; 2025Q4: 10,990 shares 10,990$988K0.49%0Timeline
CYDCHINA YUCHAI INTL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 73,364 shares; 2024Q4: 73,364 shares; 2025Q1: 73,364 shares; 2025Q2: 23,364 shares; 2025Q3: 23,364 shares; 2025Q4: 23,364 shares 23,364$829K0.41%0Timeline
MEOHMETHANEX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000 shares; 2024Q4: 4,000 shares; 2025Q1: 4,000 shares; 2025Q2: 20,000 shares; 2025Q3: 20,000 shares; 2025Q4: 20,000 shares 20,000$793K0.39%0Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,899 shares; 2024Q4: 5,899 shares; 2025Q1: 5,899 shares; 2025Q2: 5,899 shares; 2025Q3: 5,899 shares; 2025Q4: 1,500 shares 1,500$766K0.38%-4,399Timeline
JEFJEFFERIES FINANCIAL GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,987 shares; 2024Q4: 10,987 shares; 2025Q1: 10,987 shares; 2025Q2: 10,987 shares; 2025Q3: 10,987 shares; 2025Q4: 10,987 shares 10,987$681K0.34%0Timeline
MGAMAGNA INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares 10,000$533K0.26%0Timeline
LPXLOUISIANA PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,886 shares; 2024Q4: 5,886 shares; 2025Q1: 5,886 shares; 2025Q2: 5,886 shares; 2025Q3: 5,886 shares; 2025Q4: 5,886 shares 5,886$475K0.24%0Timeline
IMOIMPERIAL OIL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,000 shares; 2024Q4: 5,000 shares; 2025Q1: 5,000 shares; 2025Q2: 5,000 shares; 2025Q3: 5,000 shares; 2025Q4: 5,000 shares 5,000$432K0.21%0Timeline
RYAAYRYANAIR HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,937 shares; 2024Q4: 5,937 shares; 2025Q1: 5,937 shares; 2025Q2: 5,937 shares; 2025Q3: 5,937 shares; 2025Q4: 5,937 shares 5,937$429K0.21%0Timeline
VTSVITESSE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,293 shares; 2024Q4: 1,293 shares; 2025Q1: 1,293 shares; 2025Q2: 1,293 shares; 2025Q3: 1,293 shares; 2025Q4: 1,293 shares 1,293$24.9K0.01%0Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
HTZWWHERTZ GLOBAL HLDGS INC *W EXP 06/30/205principal1,000$2.68K0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
LEALEAR CORP4,000$402Kshares
SUNRISE COMMUNICATIONS AGSUNRISE COMMUNICATIONS AG2,400$141Kshares
CACCCREDIT ACCEP CORP MICH262$122Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001104659-26-015054 base2026-02-13acceptance time not in the bulk data set