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Chou Associates

Q2 2026 13F · by Francis Chou, portfolio manager

As of
Jun 30, 2026
Filed
Aug 11, 2026
US stock
$217M · prev $208M
Positions
31 · prev 30
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves2 since the prior filing

The book

Very concentrated · behaves like 8 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 0.0% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions62% of US stock

  1. BRK.A Berkshire Hathaway Inc. held held29.7%
  2. GOOG Alphabet Inc. Class C held held11.8%
  3. SYF Synchrony Financial held held7.8%
  4. OXY Occidental Petroleum Corporation held held7.0%
  5. SIRI Sirius XM Holdings, Inc held held5.6%

Positions31 in this filing · 0 exited

BRK.ABerkshire Hathaway Inc.29.73%86$64Mheld—53+ q
GOOGAlphabet Inc. Class C11.81%72,390$26Mheld—9 q
SYFSynchrony Financial7.84%223,202$17Mheld—15 q
OXYOccidental Petroleum Corporation7.02%313,000$15Mheld—6 q
SIRISirius XM Holdings, Inc5.59%409,589$12Mheld—8 q
AAPLApple Inc.5.34%40,000$12Mtrimmed−9%−0.03 pp9 q
ALLYAlly Financial Inc.4.78%225,525$10Mheld—15 q
STLAStellantis N.V.3.69%1,394,194$8Mheld—22 q
JEFJefferies Financial Group Inc.3.44%149,237$7Mheld—9 q
PYPLPayPal Holdings, Inc.3.34%167,400$7Mheld—9 q
WFCWells Fargo & Co.2.27%59,542$5Mheld—32 q
CCitigroup Inc.2.11%32,695$5Mheld—53+ q
BABAAlibaba Group Holding Limited1.86%41,900$4Mheld—13 q
GMGeneral Motors Company1.85%52,000$4Mheld—6 q
BACBank of America Corporation1.32%50,000$3Mheld—9 q
CASHPathward Financial, Inc.1.10%27,389$2Mheld—9 q
POOLPool Corporation1.06%10,636$2Mheld—9 q
MBIMBIA Inc.0.97%321,000$2Mheld—9 q
KHCThe Kraft Heinz Company0.76%69,500$2Mheld—2 q
BRK.BBERKSHIRE HATHAWAY Class B0.72%3,100$2Mheld—2 q
AGOAssured Guaranty, LTD0.63%16,990$1Mheld—9 q
CYDChina Yuchai International Ltd.0.51%23,364$1Mheld—53+ q
MEOHMethanex Corp0.43%20,000$923,814held—15 q
MCOMoody's Corporation0.31%1,500$679,380held—9 q
MGAMagna International0.30%10,000$656,600held—31 q
ATKRAtkore Inc.0.29%8,400$638,736held—2 q
HPQHP Inc.0.27%26,500$581,410held—2 q
IMOImperial Oil Limited0.26%5,000$561,466held—10 q
LPXLouisiana-Pacific Corp.0.21%5,886$462,993held—9 q
RYAAYRyanair Holdings plc0.18%5,937$384,421held—43 q
VTSVitesse Energy, Inc..0.01%1,293$20,391new+0.01 ppnew

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet