# Chou Associates: 13F portfolio, Q2 2026

Investment firm, Toronto.

Source: SEC Form 13F filed 2026-08-12 for the quarter ended 2026-06-30: https://www.sec.gov/Archives/edgar/data/1389403/000110465926094668/0001104659-26-094668-index.htm
Values are as the manager reported them in the filing, not current market prices.
Page: https://valuepeg.com/managers/chou-associates
Updated: 2026-08-12 · Next filing due by 2026-11-14

## Summary
- Reported value: $216.6M (Q1 2026: $207.8M)
- Positions: 31 (Q1 2026: 30)
- Top 10 holdings: 82.6% of the portfolio
- This quarter: 1 new, 0 added to, 1 trimmed, 0 sold out

## What Chou Associates did in Q2 2026
Chou Associates opened a new position in Vitesse Energy. Berkshire Hathaway is still the largest holding, at 29.7% of the portfolio.

## Biggest buys
- Vitesse Energy (VTS): New

## Biggest sells
- Apple (AAPL): −9%

## Top 15 holdings
| # | Company | Ticker | % of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | BRK-A | 29.7% | $64.4M | No change | Q3 2024 or earlier |
| 2 | Alphabet | GOOG | 11.8% | $25.6M | No change | Q3 2024 or earlier |
| 3 | Synchrony Financial | SYF | 7.8% | $17.0M | No change | Q3 2024 or earlier |
| 4 | Occidental Petroleum | OXY | 7.0% | $15.2M | No change | Q3 2024 or earlier |
| 5 | Sirius Xm Holdings | SIRI | 5.6% | $12.1M | No change | Q3 2024 or earlier |
| 6 | Apple | AAPL | 5.3% | $11.6M | −9% | Q3 2024 or earlier |
| 7 | Ally Financial | ALLY | 4.8% | $10.4M | No change | Q3 2024 or earlier |
| 8 | Stellantis | STLA | 3.7% | $8.0M | No change | Q3 2024 or earlier |
| 9 | Jefferies Financial Group | JEF | 3.4% | $7.5M | No change | Q3 2024 or earlier |
| 10 | PayPal Holdings | PYPL | 3.3% | $7.2M | No change | Q3 2024 or earlier |
| 11 | Wells Fargo & Company | WFC | 2.3% | $4.9M | No change | Q3 2024 or earlier |
| 12 | Citigroup | C | 2.1% | $4.6M | No change | Q3 2024 or earlier |
| 13 | Alibaba Group Holding | BABA | 1.9% | $4.0M | No change | Q3 2024 or earlier |
| 14 | General Motors | GM | 1.9% | $4.0M | No change | Q1 2025 |
| 15 | Bank Of America | BAC | 1.3% | $2.8M | No change | Q3 2024 or earlier |

16 more positions and every quarter's holdings are on Valuepeg for members: https://valuepeg.com/managers/chou-associates

## Other value investors
- Coatue Management: https://valuepeg.com/managers/coatue
- Daily Journal: https://valuepeg.com/managers/daily-journal
- Dalal Street (Pabrai Investment Funds) (Mohnish Pabrai): https://valuepeg.com/managers/pabrai-dalal-street
- Davis Advisors: https://valuepeg.com/managers/davis-advisors
- Dorsey Asset Management: https://valuepeg.com/managers/dorsey-asset-management

## About this data
- **What is a 13F?** A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- **How current is it?** Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- **Whose figures are these?** The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- **What does it leave out?** Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.

Not investment advice.