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Chou Associates

Superinvestor

Chou Associates Management Inc.

SEC CIK
0001389403
Manager
Francis Chou
Style
Value
Latest filing
Aug 12, 2026

Holdings in Q3 2021

Holdings as of Sep 30, 2021, filed Nov 15, 2021. Long positions only; changes compare share counts with Q2 2021.

Institution overview
Positions
15
0 vs. Q2 2021
Portfolio value
$159.1M
−$12.0M (−7.0%) vs. Q2 2021
Filed
Nov 15, 2021
SEC
Holdings of Chou Associates in Q3 2021
SecurityClassSharesValue% of portfolioShare changeActionHistory
BHCBausch Health Companies Inc.Stock1,495,000$41.6M26.2%00.0%UnchangedHistory
BRK.ABerkshire Hathaway IncCL A100$41.1M25.9%00.0%UnchangedHistory
RFPResolute Forest Products Inc.COM3,299,460$39.3M24.7%−641,000−16.3%ReducedHistory
WFCWells Fargo & CompanyStock169,542$7.87M4.9%00.0%UnchangedHistory
MBIMbia IncCOM599,530$7.70M4.8%00.0%UnchangedHistory
JPMJPMorgan Chase & CoStock34,275$5.61M3.5%00.0%UnchangedHistory
CCitigroup IncStock57,695$4.05M2.5%00.0%UnchangedHistory
BBBLACKBERRY LtdCOM382,900$3.73M2.3%−17,100−4.3%ReducedHistory
GSGoldman Sachs Group IncStock7,100$2.68M1.7%00.0%UnchangedHistory
MGAMagna International IncCOM20,000$1.50M0.9%00.0%UnchangedHistory
PKXPosco Holdings Inc.SPONSORED ADR21,000$1.45M0.9%00.0%UnchangedHistory
CYDChina Yuchai International LtdCOM73,364$997.0K0.6%00.0%UnchangedHistory
STLAStellantis N.V.SHS30,000$573.0K0.4%00.0%UnchangedHistory
RYAAYRyanair Holdings PLCSPONSORED ADR4,575$504.0K0.3%00.0%UnchangedHistory
LBTYALiberty Global Ltd.SHS CL A12,000$358.0K0.2%00.0%UnchangedHistory

Options (4)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Chou Associates in Q3 2021
SecurityClassPutsCalls
Resolute FST Prods Inc76117W909CALL–$22.4M
Bausch Health Cos Inc071734907CALL–$16.7M
Mbia Inc55262C900CALL–$5.14M
Blackberry Ltd09228F903CALL–$3.73M