Chou Associates Management Inc. Long-Term Concentrated

CIK: 0001389403 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $201,552 (100.0% shares, 0.0% debt)

Holdings (28)

Exited Positions (3)

LEA LEAR CORP 0.2%

Value ($000) $402 Shares 4,000 Est. Cost $121.70 Unrealized -12.7%

— SUNRISE COMMUNICATIONS AG 0.1%

Value ($000) $141 Shares 2,400 Est. Cost $43.08 Unrealized —

CACC CREDIT ACCEP CORP MICH 0.1%

Value ($000) $122 Shares 262 Est. Cost $509.35 Unrealized -9.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LEA	LEAR CORP	4,000	$402	0.2%	$121.70	-12.7%	—	521865204
—	SUNRISE COMMUNICATIONS AG	2,400	$141	0.1%	$43.08	—	—	867975104
CACC	CREDIT ACCEP CORP MICH	262	$122	0.1%	$509.35	-9.0%	—	225310101

Decreased Positions (4)

SIRI SIRIUSXM HOLDINGS INC 4.1%

Value ($000) $8,190 (-49.9%) Shares 409,589 (-41.7%) Est. Cost $23.69 Unrealized -9.3%

GOOG ALPHABET INC 11.3%

Value ($000) $22,716 (+13.2%) Shares 72,390 (-12.1%) Est. Cost $168.88 Unrealized +69.5%

MCO MOODYS CORP 0.4%

Value ($000) $766 (-72.7%) Shares 1,500 (-74.6%) Est. Cost $393.01 Unrealized +24.0%

C CITIGROUP INC 1.9%

Value ($000) $3,815 (-34.9%) Shares 32,695 (-43.3%) Est. Cost $35.76 Unrealized +189.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SIRI	SIRIUSXM HOLDINGS INC	409,589 (-41.7%)	$8,190 (-49.9%)	4.1%	$23.69	-9.3%	COMMON STOCK	829933100
GOOG	ALPHABET INC	72,390 (-12.1%)	$22,716 (+13.2%)	11.3%	$168.88	+69.5%	CAP STK CL C	02079K107
MCO	MOODYS CORP	1,500 (-74.6%)	$766 (-72.7%)	0.4%	$393.01	+24.0%	COM	615369105
C	CITIGROUP INC	32,695 (-43.3%)	$3,815 (-34.9%)	1.9%	$35.76	+189.8%	COM NEW	172967424

Unchanged Positions (24)

SYF SYNCHRONY FINANCIAL 8.9%

Value ($000) $17,996 Shares 215,702 Est. Cost $38.18 Unrealized +99.9%

STLA STELLANTIS N.V 7.5%

Value ($000) $15,183 Shares 1,394,194 Est. Cost $11.65 Unrealized —

OXY OCCIDENTAL PETE CORP 6.4%

Value ($000) $12,871 Shares 313,000 Est. Cost $42.61 Unrealized -2.5%

ALLY ALLY FINL INC 5.1%

Value ($000) $10,214 Shares 225,525 Est. Cost $27.73 Unrealized +47.2%

BABA ALIBABA GROUP HLDG LTD 3.0%

Value ($000) $6,142 Shares 41,900 Est. Cost $128.26 Unrealized —

GM GENERAL MTRS CO 2.1%

Value ($000) $4,229 Shares 52,000 Est. Cost $48.81 Unrealized +44.2%

POOL POOL CORP 1.2%

Value ($000) $2,433 Shares 10,636 Est. Cost $353.26 Unrealized -26.6%

AAPL APPLE INC 5.9%

Value ($000) $11,962 Shares 44,000 Est. Cost $185.12 Unrealized +45.0%

WFC WELLS FARGO CO NEW 2.8%

Value ($000) $5,549 Shares 59,542 Est. Cost $53.47 Unrealized +62.0%

PYPL PAYPAL HLDGS INC 1.2%

Value ($000) $2,394 Shares 41,000 Est. Cost $63.46 Unrealized +2.2%

BAC BANK AMERICA CORP 1.4%

Value ($000) $2,750 Shares 50,000 Est. Cost $36.84 Unrealized +43.0%

CYD CHINA YUCHAI INTL LTD 0.4%

Value ($000) $829 Shares 23,364 Est. Cost $8.06 Unrealized +352.1%

MBI MBIA INC 1.1%

Value ($000) $2,298 Shares 321,000 Est. Cost $5.99 Unrealized +20.6%

CASH PATHWARD FINANCIAL INC 1.0%

Value ($000) $1,945 Shares 27,389 Est. Cost $52.35 Unrealized +36.8%

RYAAY RYANAIR HOLDINGS PLC 0.2%

Value ($000) $429 Shares 5,937 Est. Cost $61.69 Unrealized —

MGA MAGNA INTL INC 0.3%

Value ($000) $533 Shares 10,000 Est. Cost $38.61 Unrealized +26.6%

AGO ASSURED GUARANTY LTD 0.5%

Value ($000) $988 Shares 10,990 Est. Cost $76.83 Unrealized +12.2%

BRK/A BERKSHIRE HATHAWAY INC DEL 32.2%

Value ($000) $64,913 Shares 86 Est. Cost $215186.81 Unrealized +246.9%

LPX LOUISIANA PAC CORP 0.2%

Value ($000) $475 Shares 5,886 Est. Cost $83.52 Unrealized +1.2%

JEF JEFFERIES FINL GROUP INC 0.3%

Value ($000) $681 Shares 10,987 Est. Cost $42.74 Unrealized +32.6%

IMO IMPERIAL OIL LTD 0.2%

Value ($000) $432 Shares 5,000 Est. Cost $58.14 Unrealized +56.0%

VTS VITESSE ENERGY INC 0.0%

Value ($000) $25 Shares 1,293 Est. Cost $23.77 Unrealized -10.2%

MEOH METHANEX CORP 0.4%

Value ($000) $793 Shares 20,000 Est. Cost $33.13 Unrealized +12.3%

HTZWW HERTZ GLOBAL HLDGS INC 0.0%

Value ($000) $3 Shares 1,000 Est. Cost $7.63 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SYF	SYNCHRONY FINANCIAL	215,702	$17,996	8.9%	$38.18	+99.9%	COM	87165B103
STLA	STELLANTIS N.V	1,394,194	$15,183	7.5%	$11.65	—	COM	N82405106
OXY	OCCIDENTAL PETE CORP	313,000	$12,871	6.4%	$42.61	-2.5%	COM	674599105
ALLY	ALLY FINL INC	225,525	$10,214	5.1%	$27.73	+47.2%	COM	02005N100
BABA	ALIBABA GROUP HLDG LTD	41,900	$6,142	3.0%	$128.26	—	SPONSORED ADS	01609W102
GM	GENERAL MTRS CO	52,000	$4,229	2.1%	$48.81	+44.2%	COM	37045V100
POOL	POOL CORP	10,636	$2,433	1.2%	$353.26	-26.6%	COM	73278L105
AAPL	APPLE INC	44,000	$11,962	5.9%	$185.12	+45.0%	COM	037833100
WFC	WELLS FARGO CO NEW	59,542	$5,549	2.8%	$53.47	+62.0%	COM	949746101
PYPL	PAYPAL HLDGS INC	41,000	$2,394	1.2%	$63.46	+2.2%	COM	70450Y103
BAC	BANK AMERICA CORP	50,000	$2,750	1.4%	$36.84	+43.0%	COM	060505104
CYD	CHINA YUCHAI INTL LTD	23,364	$829	0.4%	$8.06	+352.1%	COM	G21082105
MBI	MBIA INC	321,000	$2,298	1.1%	$5.99	+20.6%	COM	55262C100
CASH	PATHWARD FINANCIAL INC	27,389	$1,945	1.0%	$52.35	+36.8%	COM	59100U108
RYAAY	RYANAIR HOLDINGS PLC	5,937	$429	0.2%	$61.69	—	SPONSORED ADS	783513203
MGA	MAGNA INTL INC	10,000	$533	0.3%	$38.61	+26.6%	COM	559222401
AGO	ASSURED GUARANTY LTD	10,990	$988	0.5%	$76.83	+12.2%	COM	G0585R106
BRK/A	BERKSHIRE HATHAWAY INC DEL	86	$64,913	32.2%	$215186.81	+246.9%	CL A	084670108
LPX	LOUISIANA PAC CORP	5,886	$475	0.2%	$83.52	+1.2%	COM	546347105
JEF	JEFFERIES FINL GROUP INC	10,987	$681	0.3%	$42.74	+32.6%	COM	47233W109
IMO	IMPERIAL OIL LTD	5,000	$432	0.2%	$58.14	+56.0%	COM NEW	453038408
VTS	VITESSE ENERGY INC	1,293	$25	0.0%	$23.77	-10.2%	COMMON STOCK	92852X103
MEOH	METHANEX CORP	20,000	$793	0.4%	$33.13	+12.3%	COM	59151K108
HTZWW	HERTZ GLOBAL HLDGS INC	1,000	$3	0.0%	$7.63	—	WARRANT	42806J148