Chou Associates
Picture
Moves
Options: 1 move on a notional base, in the table below.
The book
- Very concentrated
- Concentrated
- Focused
- Diversified
- Low
- Moderate
- High
Top 5 positions
Positions
| 7AB1Resolute Forest Products | 32.75% | 3,096,460 | $47M | trimmed−6% | +8.07 pp | 35 q |
| BRK.ABerkshire Hathaway Inc. | 31.21% | 100 | $45M | held | — | 35 q |
| BHCBausch Health Companies Inc | 14.63% | 765,000 | $21M | trimmed−49% | −11.55 pp | 14 q |
| MBIMBIA Inc. | 6.56% | 599,530 | $9M | held | — | 35 q |
| JPMJPMorgan Chase & Co. | 3.76% | 34,275 | $5M | held | — | 14 q |
| BBBlackBerry Limited | 2.48% | 382,900 | $4M | held | — | 34 q |
| CCitigroup Inc. | 2.41% | 57,695 | $3M | held | — | 35 q |
| GSGoldman Sachs Group Inc. | 1.88% | 7,100 | $3M | held | — | 35 q |
| MGAMagna International | 1.12% | 20,000 | $2M | held | — | 13 q |
| PKXPOSCO Holdings Inc. | 0.85% | 21,000 | $1M | held | — | 26 q |
| CYDChina Yuchai International Ltd. | 0.76% | 73,364 | $1M | held | — | 35 q |
| WFCWells Fargo & Co. | 0.65% | 19,542 | $938,000 | trimmed−88% | −4.30 pp | 14 q |
| STLAStellantis N.V. | 0.39% | 30,000 | $563,000 | held | — | 4 q |
| RYAAYRyanair Holdings plc | 0.32% | 4,575 | $468,000 | held | — | 25 q |
| LBTYALiberty Global Ltd. Class A | 0.23% | 12,000 | $333,000 | held | — | 4 q |
Other 13(f) securities
Options
| Contract | % of notional | Shares | Notional |
|---|---|---|---|
| Resolute Fst Prods Inc CALL | 43.33% | 1,325,000 | $20M |
| Bausch Health Cos Inc CALL | 35.48% | 600,000 | $17M |
| Mbia Inc CALL | 13.53% | 400,000 | $6M |
| Blackberry Ltd CALL | 7.66% | 382,600 | $4M |
Notes