Chou Associates Management Inc. Long-Term Concentrated

Location: TORONTO, A6

CIK: 0001389403 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 14, 2026

Total Value ($000): $210,267 (98.8% shares, 1.2% debt)

Holdings (31)

New Positions (5)

— BRAEMAR HOTELS & RESORTS INC 1.2%

Value ($000) $2,455 Shares 2,500,000 Est. Cost $0.98 Unrealized —

KHC KRAFT HEINZ CO 0.7%

Value ($000) $1,563 Shares 69,500 Est. Cost $23.92 Unrealized 0.0%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.7%

Value ($000) $1,486 Shares 3,100 Est. Cost $493.47 Unrealized 0.0%

HPQ HP INC 0.2%

Value ($000) $509 Shares 26,500 Est. Cost $19.77 Unrealized 0.0%

ATKR ATKORE INC 0.2%

Value ($000) $495 Shares 8,400 Est. Cost $68.08 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	BRAEMAR HOTELS & RESORTS INC	2,500,000	$2,455	1.2%	$0.98	—	NOTE 4.500% 6/0	10482BAB7
KHC	KRAFT HEINZ CO	69,500	$1,563	0.7%	$23.92	0.0%	COM	500754106
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,100	$1,486	0.7%	$493.47	0.0%	CL B NEW	084670702
HPQ	HP INC	26,500	$509	0.2%	$19.77	0.0%	COM	40434L105
ATKR	ATKORE INC	8,400	$495	0.2%	$68.08	0.0%	COM	047649108

Increased Positions (4)

JEF JEFFERIES FINL GROUP INC 2.9%

Value ($000) $6,159 (+804.6%) Shares 149,237 (+1258.3%) Est. Cost $57.63 Unrealized +2.1%

PYPL PAYPAL HLDGS INC 3.6%

Value ($000) $7,572 (+216.3%) Shares 167,400 (+308.3%) Est. Cost $53.35 Unrealized -6.1%

SYF SYNCHRONY FINANCIAL 7.2%

Value ($000) $15,182 (-15.6%) Shares 223,202 (+3.5%) Est. Cost $39.46 Unrealized +93.3%

AGO ASSURED GUARANTY LTD 0.7%

Value ($000) $1,384 (+40.2%) Shares 16,990 (+54.6%) Est. Cost $80.23 Unrealized +7.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JEF	JEFFERIES FINL GROUP INC	149,237 (+1258.3%)	$6,159 (+804.6%)	2.9%	$57.63	+2.1%	COM	47233W109
PYPL	PAYPAL HLDGS INC	167,400 (+308.3%)	$7,572 (+216.3%)	3.6%	$53.35	-6.1%	COM	70450Y103
SYF	SYNCHRONY FINANCIAL	223,202 (+3.5%)	$15,182 (-15.6%)	7.2%	$39.46	+93.3%	COM	87165B103
AGO	ASSURED GUARANTY LTD	16,990 (+54.6%)	$1,384 (+40.2%)	0.7%	$80.23	+7.8%	COM	G0585R106

Exited Positions (2)

VTS VITESSE ENERGY INC 0.0%

Value ($000) $25 Shares 1,293 Est. Cost $23.77 Unrealized -12.9%

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
VTS	VITESSE ENERGY INC	1,293	$25	0.0%	$23.77	-12.9%	—	92852X103
HTZWW	HERTZ GLOBAL HLDGS INC	1,000	$3	0.0%	$7.63	—	—	42806J148

Unchanged Positions (22)

OXY OCCIDENTAL PETE CORP 9.7%

Value ($000) $20,345 Shares 313,000 Est. Cost $42.61 Unrealized +6.6%

STLA STELLANTIS N.V 4.7%

Value ($000) $9,885 Shares 1,394,194 Est. Cost $11.65 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 29.4%

Value ($000) $61,760 Shares 86 Est. Cost $215186.81 Unrealized +244.1%

GOOG ALPHABET INC 9.9%

Value ($000) $20,766 Shares 72,390 Est. Cost $168.88 Unrealized +91.7%

ALLY ALLY FINL INC 4.2%

Value ($000) $8,847 Shares 225,525 Est. Cost $27.73 Unrealized +54.1%

SIRI SIRIUSXM HOLDINGS INC 4.5%

Value ($000) $9,453 Shares 409,589 Est. Cost $23.69 Unrealized -11.6%

BABA ALIBABA GROUP HLDG LTD 2.5%

Value ($000) $5,257 Shares 41,900 Est. Cost $128.26 Unrealized —

WFC WELLS FARGO CO NEW 2.3%

Value ($000) $4,740 Shares 59,542 Est. Cost $53.47 Unrealized +68.4%

AAPL APPLE INC 5.3%

Value ($000) $11,167 Shares 44,000 Est. Cost $185.12 Unrealized +42.0%

CASH PATHWARD FINANCIAL INC 1.2%

Value ($000) $2,444 Shares 27,389 Est. Cost $52.35 Unrealized +62.7%

MBI MBIA INC 0.9%

Value ($000) $1,897 Shares 321,000 Est. Cost $5.99 Unrealized +9.2%

MEOH METHANEX CORP 0.6%

Value ($000) $1,192 Shares 20,000 Est. Cost $33.13 Unrealized +43.3%

GM GENERAL MTRS CO 1.8%

Value ($000) $3,874 Shares 52,000 Est. Cost $48.81 Unrealized +68.5%

BAC BANK AMERICA CORP 1.2%

Value ($000) $2,438 Shares 50,000 Est. Cost $36.84 Unrealized +45.7%

POOL POOL CORP 1.0%

Value ($000) $2,152 Shares 10,636 Est. Cost $353.26 Unrealized -28.7%

IMO IMPERIAL OIL LTD 0.3%

Value ($000) $655 Shares 5,000 Est. Cost $58.14 Unrealized +80.5%

MCO MOODYS CORP 0.3%

Value ($000) $654 Shares 1,500 Est. Cost $393.01 Unrealized +24.6%

C CITIGROUP INC 1.8%

Value ($000) $3,708 Shares 32,695 Est. Cost $35.76 Unrealized +224.9%

RYAAY RYANAIR HOLDINGS PLC 0.2%

Value ($000) $343 Shares 5,937 Est. Cost $61.69 Unrealized —

CYD CHINA YUCHAI INTL LTD 0.4%

Value ($000) $900 Shares 23,364 Est. Cost $8.06 Unrealized +477.3%

LPX LOUISIANA PAC CORP 0.2%

Value ($000) $428 Shares 5,886 Est. Cost $83.52 Unrealized +6.7%

MGA MAGNA INTL INC 0.3%

Value ($000) $558 Shares 10,000 Est. Cost $38.61 Unrealized +48.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OXY	OCCIDENTAL PETE CORP	313,000	$20,345	9.7%	$42.61	+6.6%	COM	674599105
STLA	STELLANTIS N.V	1,394,194	$9,885	4.7%	$11.65	—	COM	N82405106
BRK/A	BERKSHIRE HATHAWAY INC DEL	86	$61,760	29.4%	$215186.81	+244.1%	CL A	084670108
GOOG	ALPHABET INC	72,390	$20,766	9.9%	$168.88	+91.7%	CAP STK CL C	02079K107
ALLY	ALLY FINL INC	225,525	$8,847	4.2%	$27.73	+54.1%	COM	02005N100
SIRI	SIRIUSXM HOLDINGS INC	409,589	$9,453	4.5%	$23.69	-11.6%	COMMON STOCK	829933100
BABA	ALIBABA GROUP HLDG LTD	41,900	$5,257	2.5%	$128.26	—	SPONSORED ADS	01609W102
WFC	WELLS FARGO CO NEW	59,542	$4,740	2.3%	$53.47	+68.4%	COM	949746101
AAPL	APPLE INC	44,000	$11,167	5.3%	$185.12	+42.0%	COM	037833100
CASH	PATHWARD FINANCIAL INC	27,389	$2,444	1.2%	$52.35	+62.7%	COM	59100U108
MBI	MBIA INC	321,000	$1,897	0.9%	$5.99	+9.2%	COM	55262C100
MEOH	METHANEX CORP	20,000	$1,192	0.6%	$33.13	+43.3%	COM	59151K108
GM	GENERAL MTRS CO	52,000	$3,874	1.8%	$48.81	+68.5%	COM	37045V100
BAC	BANK AMERICA CORP	50,000	$2,438	1.2%	$36.84	+45.7%	COM	060505104
POOL	POOL CORP	10,636	$2,152	1.0%	$353.26	-28.7%	COM	73278L105
IMO	IMPERIAL OIL LTD	5,000	$655	0.3%	$58.14	+80.5%	COM NEW	453038408
MCO	MOODYS CORP	1,500	$654	0.3%	$393.01	+24.6%	COM	615369105
C	CITIGROUP INC	32,695	$3,708	1.8%	$35.76	+224.9%	COM NEW	172967424
RYAAY	RYANAIR HOLDINGS PLC	5,937	$343	0.2%	$61.69	—	SPONSORED ADS	783513203
CYD	CHINA YUCHAI INTL LTD	23,364	$900	0.4%	$8.06	+477.3%	COM	G21082105
LPX	LOUISIANA PAC CORP	5,886	$428	0.2%	$83.52	+6.7%	COM	546347105
MGA	MAGNA INTL INC	10,000	$558	0.3%	$38.61	+48.3%	COM	559222401