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Chou Associates · SEC Form 13F for Sep 30, 2026 · filed Nov 12, 2026

Francis Chou

$212 million in 31 stocks

Berkshire Hathaway (Class A) is 30% of it, and five stocks make up 64%. Against Q2 2026: no position opened, closed or changed by 20% or more.

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What changed in Q3 2026

Change in shares since Q2 2026. Changes under 20% are in grey.

Opened0

None

Added to0

None

Trimmed0

None

Sold out0

None

The portfolio in one line

Each block is a holding, as wide as its share of the portfolio.

opened or added 20% or more trimmed 20% or more otherwise

31 matching positions

Investor stock list
CompanyWeightThis quarterReported value8 quarters
Berkshire Hathaway (Class A)BRK/A
Position details
Quote on Yahoo Finance ↗

86 reported shares · $747005.29 per unit · $64,242,455 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

30.32%No change$64M
Alphabet (Class C)GOOG
Position details
Quote on Yahoo Finance ↗

72,390 reported shares · $340.74 per unit · $24,666,169 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

11.64%No change$25M
Occidental PetroleumOXY
Position details
Quote on Yahoo Finance ↗

313,000 reported shares · $55.32 per unit · $17,315,164 reported value

7 recorded quarters of position-weight history; not proof of continuous ownership.

8.17%No change$17M
Synchrony FinancialSYF
Position details
Quote on Yahoo Finance ↗

223,202 reported shares · $70.97 per unit · $15,840,651 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

7.48%No change$16M
AppleAAPL
Position details
Quote on Yahoo Finance ↗

40,000 reported shares · $333.02 per unit · $13,320,800 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

6.29%No change$13M
Sirius XMSIRI
Position details
Quote on Yahoo Finance ↗

409,589 reported shares · $25.88 per unit · $10,600,168 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

5.00%No change$11M
PayPalPYPL
Position details
Quote on Yahoo Finance ↗

167,400 reported shares · $52.53 per unit · $8,793,525 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

4.15%No change$9M
Ally FinancialALLY
Position details
Quote on Yahoo Finance ↗

225,525 reported shares · $37.62 per unit · $8,484,254 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

4.00%No change$8M
Jefferies FinancialJEF
Position details
Quote on Yahoo Finance ↗

149,237 reported shares · $45.73 per unit · $6,824,611 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

3.22%No change$7M
Stellantis N.vSTLA
Position details
Quote on Yahoo Finance ↗

1,394,194 reported shares · $4.36 per unit · $6,078,687 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

2.87%No change$6M
Wells FargoWFC
Position details
Quote on Yahoo Finance ↗

59,542 reported shares · $80.05 per unit · $4,766,338 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

2.25%No change$5M
AlibabaBABA
Position details
Quote on Yahoo Finance ↗

41,900 reported shares · $107.54 per unit · $4,505,926 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

2.13%No change$5M
CitigroupC
Position details
Quote on Yahoo Finance ↗

32,695 reported shares · $129.48 per unit · $4,233,351 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

2.00%No change$4M
General Motors CoGM
Position details
Quote on Yahoo Finance ↗

52,000 reported shares · $77.00 per unit · $4,004,001 reported value

7 recorded quarters of position-weight history; not proof of continuous ownership.

1.89%No change$4M
Bank of AmericaBAC
Position details
Quote on Yahoo Finance ↗

50,000 reported shares · $54.43 per unit · $2,721,500 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

1.28%No change$3M
Pathward Financial IncCASH
Position details
Quote on Yahoo Finance ↗

27,389 reported shares · $71.14 per unit · $1,948,454 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.92%No change$2M
Pool CorpPOOL
Position details
Quote on Yahoo Finance ↗

10,636 reported shares · $161.87 per unit · $1,721,649 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.81%No change$2M
Kraft HeinzKHC
Position details
Quote on Yahoo Finance ↗

69,500 reported shares · $22.72 per unit · $1,579,040 reported value

3 recorded quarters of position-weight history; not proof of continuous ownership.

0.74%No change$2M
Berkshire Hathaway (Class B)BRK/B
Position details
Quote on Yahoo Finance ↗

3,100 reported shares · $497.95 per unit · $1,543,645 reported value

3 recorded quarters of position-weight history; not proof of continuous ownership.

0.73%No change$2M
Mbia IncMBI
Position details
Quote on Yahoo Finance ↗

321,000 reported shares · $4.26 per unit · $1,367,460 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.65%No change$1M
Methanex CorpMEOH
Position details
Quote on Yahoo Finance ↗

20,000 reported shares · $58.66 per unit · $1,173,173 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.55%No change$1M
Assured Guaranty Ltd
Position details

16,990 reported shares · $67.72 per unit · $1,150,563 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.54%No change$1M
HP IncHPQ
Position details
Quote on Yahoo Finance ↗

26,500 reported shares · $31.28 per unit · $828,920 reported value

3 recorded quarters of position-weight history; not proof of continuous ownership.

0.39%No change$829K
Atkore IncATKR
Position details
Quote on Yahoo Finance ↗

8,400 reported shares · $94.75 per unit · $795,900 reported value

3 recorded quarters of position-weight history; not proof of continuous ownership.

0.38%No change$796K
China Yuchai Intl Ltd
Position details

23,364 reported shares · $31.03 per unit · $724,985 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.34%No change$725K
Moody’sMCO
Position details
Quote on Yahoo Finance ↗

1,500 reported shares · $454.13 per unit · $681,195 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.32%No change$681K
Magna International IncMGA
Position details
Quote on Yahoo Finance ↗

10,000 reported shares · $63.67 per unit · $636,700 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.30%No change$637K
Imperial Oil LtdIMO
Position details
Quote on Yahoo Finance ↗

5,000 reported shares · $122.97 per unit · $614,834 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.29%No change$615K
Louisiana-PacificLPX
Position details
Quote on Yahoo Finance ↗

5,886 reported shares · $64.55 per unit · $379,941 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.18%No change$380K
Ryanair Holdings PLC ADRRYAAY
Position details
Quote on Yahoo Finance ↗

5,937 reported shares · $55.01 per unit · $326,595 reported value

8 recorded quarters of position-weight history; not proof of continuous ownership.

0.15%No change$327K
Vitesse Energy IncVTS
Position details
Quote on Yahoo Finance ↗

1,293 reported shares · $16.70 per unit · $21,593 reported value

7 recorded quarters of position-weight history; not proof of continuous ownership.

0.01%No change$22K
How to read this table
  • Weight is a holding’s share of the reported portfolio, not of everything the manager runs.
  • Price per unit is the reported value divided by the reported shares at quarter end.
  • Some filings state dollar values in thousands. Those are shown here in dollars.
  • Share changes compare two filings. They can reflect splits or corrections as well as trades.
  • Every change is listed here. Across the site, an investor counts as adding or reducing only when the change is 20% or more, or a position is opened or closed.
  • “N/A” means the two filings could not be compared, not that nothing changed.
  • Filings do not show trade dates or reasons.

Source: SEC Form 13F for Sep 30, 2026, filed Nov 12, 2026 · Form 13F 0001104659-26-125638 ↗SEC filing index ↗ · A filing lists long US-listed positions at quarter end. It is not a live portfolio and gives no reasons for a change.

About Francis Chou

Francis Chou has managed the Chou Funds since their inception. The independent Canadian investment firm was founded in 1981. Firm background ↗

In its portfolio for the quarter ended Mar 31, 2014, Chou Associates’s largest reported positions included Resolute Fst Prods Inc, Berkshire Hathaway Inc Del, Sears Hldgs Corp. Historical filing ↗

In the filing dated Aug 12, 2026, Chou Associates reported as Chou Associates Management Inc. with an office in TORONTO. Francis S.M. Chou, CEO, signed the filing. SEC cover page ↗

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