1y return+14.0%S&P 500 +20.9%
3y return+28.5%S&P 500 +68.5%
5y return+50.7%S&P 500 +74.5%
10y return+225.7%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $326 against $357 in the S&P 500.2
Chou Associates Management Inc.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| BRK/ABerkshire Hathaway Inc Del | $64.4M | 29.7% | |
| GOOGAlphabet Inc | $25.6M | 11.8% | |
| SYFSynchrony Financial | $17.0M | 7.8% | |
| OXYOccidental Pete Corp | $15.2M | 7.0% | |
| SIRISiriusxm Holdings Inc | $12.1M | 5.6% | |
| AAPLApple Inc | $11.6M | 5.3% | −9.1% |
| ALLYAlly Finl Inc | $10.4M | 4.8% | |
| Stellantis N.vCUSIP N82405106 | $8.0M | 3.7% | |
| JEFJefferies Finl Group Inc | $7.5M | 3.4% | |
| PYPLPaypal Hldgs Inc | $7.2M | 3.3% | |
| WFCWells Fargo Co New | $4.9M | 2.3% | |
| CCitigroup Inc | $4.6M | 2.1% | |
| BABAAlibaba Group Hldg Ltd | $4.0M | 1.9% | |
| GMGeneral Mtrs Co | $4.0M | 1.9% | |
| BACBank Of Amer Corp | $2.8M | 1.3% | |
| CASHPathward Financial Inc | $2.4M | 1.1% | |
| POOLPool Corp | $2.3M | 1.1% | |
| MBIMbia Inc | $2.1M | 1.0% | |
| KHCKraft Heinz Co | $1.6M | 0.8% | |
| BRK/BBerkshire Hathaway Inc Del | $1.6M | 0.7% | |
| Assured Guaranty LtdCUSIP G0585R106 | $1.4M | 0.6% | |
| China Yuchai Intl LtdCUSIP G21082105 | $1.1M | 0.5% | |
| MEOHMethanex Corp | $924K | 0.4% | |
| MCOMoodys Corp | $679K | 0.3% | |
| MGAMagna Intl Inc | $657K | 0.3% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| China Yuchai Intl LtdCUSIP G21082105 | June 30, 2020 | +229.8% | $1.1M |
| WFCWells Fargo Co New | June 30, 2020 | +222.8% | $4.9M |
| BRK/ABerkshire Hathaway Inc Del | June 30, 2020 | +180.2% | $64.4M |
| CCitigroup Inc | June 30, 2020 | +173.9% | $4.6M |
| SYFSynchrony Financial | December 31, 2022 | +131.4% | $17.0M |
| GOOGAlphabet Inc | June 30, 2024 | +92.6% | $25.6M |
| ALLYAlly Finl Inc | December 31, 2022 | +87.9% | $10.4M |
| GMGeneral Mtrs Co | March 31, 2025 | +63.9% | $4.0M |
| IMOImperial Oil Ltd | March 31, 2024 | +62.1% | $561K |
| CASHPathward Financial Inc | June 30, 2024 | +53.9% | $2.4M |
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +4.8% | +14.8% |
| March 31, 2026 | −5.1% | −4.6% |
| December 31, 2025 | +4.2% | +2.4% |
| September 30, 2025 | +10.0% | +7.8% |
| June 30, 2025 | −0.8% | +10.5% |
| March 31, 2025 | +0.9% | −4.6% |
| December 31, 2024 | +2.9% | +2.1% |
| September 30, 2024 | +4.5% | +5.4% |
| June 30, 2024 | −7.5% | +4.0% |
| March 31, 2024 | +13.5% | +10.0% |
| December 31, 2023 | +4.8% | +11.2% |
| September 30, 2023 | −5.0% | −3.6% |
| June 30, 2023 | +9.8% | +8.3% |
| March 31, 2023 | +0.4% | +7.0% |
| December 31, 2022 | +10.7% | +7.1% |
| September 30, 2022 | +18.5% | −5.3% |
| June 30, 2022 | −20.8% | −16.5% |
| March 31, 2022 | −4.4% | −4.9% |
| December 31, 2021 | +9.9% | +10.7% |
| September 30, 2021 | −2.5% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Chou Associates Management Inc. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1389403&type=13F-HR&dateb=&owner=include&count=40CIK 1389403
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1389403/000110465926094668/Filed August 12, 2026 · accession 0001104659-26-094668