Courant Investment Management LLC Long-Term Concentrated

CIK: 0001695426 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 22, 2026

Total Value ($000): $110,597 (100.0% shares, 0.0% debt)

Holdings (6)

Increased Positions (1)

FISV FISERV INC 11.5%

Value ($000) $12,762 (+16.5%) Shares 190,000 (+123.5%) Est. Cost $110.46 Unrealized -24.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FISV	FISERV INC	190,000 (+123.5%)	$12,762 (+16.5%)	11.5%	$110.46	-24.1%	COM	337738108

Exited Positions (1)

KMX CARMAX INC 10.0%

Value ($000) $11,106 Shares 247,520 Est. Cost $77.01 Unrealized -48.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KMX	CARMAX INC	247,520	$11,106	10.0%	$77.01	-48.1%	—	143130102

Decreased Positions (3)

JPM JPMORGAN CHASE & CO 24.4%

Value ($000) $26,969 (-9.9%) Shares 83,697 (-11.8%) Est. Cost $89.02 Unrealized +247.7%

SCHW SCHWAB CHARLES CORP 16.6%

Value ($000) $18,333 (-3.3%) Shares 183,499 (-7.6%) Est. Cost $36.86 Unrealized +157.0%

ULTA ULTA BEAUTY INC COM 12.7%

Value ($000) $14,020 (-2.0%) Shares 23,173 (-11.5%) Est. Cost $389.77 Unrealized +41.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JPM	JPMORGAN CHASE & CO	83,697 (-11.8%)	$26,969 (-9.9%)	24.4%	$89.02	+247.7%	COM	46625H100
SCHW	SCHWAB CHARLES CORP	183,499 (-7.6%)	$18,333 (-3.3%)	16.6%	$36.86	+157.0%	COM	808513105
ULTA	ULTA BEAUTY INC COM	23,173 (-11.5%)	$14,020 (-2.0%)	12.7%	$389.77	+41.0%	COM	90384S303

Unchanged Positions (2)

PGR PROGRESSIVE CORP 23.9%

Value ($000) $26,454 Shares 116,170 Est. Cost $75.59 Unrealized +180.9%

LOW LOWES COMPANIES INC 10.9%

Value ($000) $12,058 Shares 50,000 Est. Cost $191.98 Unrealized +24.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PGR	PROGRESSIVE CORP	116,170	$26,454	23.9%	$75.59	+180.9%	COM	743315103
LOW	LOWES COMPANIES INC	50,000	$12,058	10.9%	$191.98	+24.9%	COM	548661107