Chou Associates Management Inc. 13F: Quarter-over-Quarter Portfolio Changes
Chou Associates Management Inc. reported a disclosed portfolio value of approximately $216.6 million in its latest SEC Form 13F-HR filing for Q2 2026, up 3.0% quarter on quarter. Over the quarter, the manager initiated 1 new position, trimmed 1 holding, and exited 1 position.
Chou Associates Management Inc.'s top buy was a new stake in Vitesse Energy Ord (VTS) , equal to 0.0% of the disclosed portfolio. Its top sell was Braemar Hotels & Resorts INC (BHR 4.5 06/01/26) . The manager exited the position completely after it had accounted for 1.2% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| VITESSE ENERGY ORD | VTS | 0.0% | Holders → |
Top SellsQ2 2026
The manager's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| BRAEMAR HOTELS & RESORTS INC | BHR 4.5 06/01/26 | 1.2% |
Net Portfolio Value ChangeQ2 2026
- $0.2BPrior quarter
- $0.2BCurrent quarter
- +$0.0BNet delta
- +3.0%% change
Methodology & FAQ
How Chou Associates Management Inc. Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Chou Associates Management Inc.: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Chou Associates Management Inc. buy in Q2 2026?
In Q2 2026, Chou Associates Management Inc. initiated 1 new position (VITESSE ENERGY ORD (VTS)).
What stocks did Chou Associates Management Inc. sell in Q2 2026?
In Q2 2026, Chou Associates Management Inc. fully sold 1 position (BRAEMAR HOTELS & RESORTS INC (BHR 4.5 06/01/26)); reduced holdings in APPLE INC (AAPL).
Which positions did Chou Associates Management Inc. initiate in Q2 2026?
Chou Associates Management Inc. established 1 new position in Q2 2026: VITESSE ENERGY ORD (VTS, 0.0%).
Which existing positions saw the largest allocation increases for Chou Associates Management Inc. in Q2 2026?
Chou Associates Management Inc. reported no material allocation increases in existing positions in Q2 2026.
Which positions did Chou Associates Management Inc. fully exit in Q2 2026?
Chou Associates Management Inc. fully exited 1 position in Q2 2026: BRAEMAR HOTELS & RESORTS INC (BHR 4.5 06/01/26, last-reported weight 1.2%).
Which existing positions saw the largest allocation reductions for Chou Associates Management Inc. in Q2 2026?
Of 1 existing position with share-count reductions in Q2 2026, the largest were: APPLE INC (AAPL, 0.0% weight, -9.1% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.