Francis Chou - Chou Associates Management 13F Activity & Position Changes (Q3 2018)

As of Sep 30, 2018, the Chou Associates Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 14, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q3 2018, the filing reported:

New Buys - Bank of America Corporation, Bausch Health Companies Inc., JP Morgan Chase & Co., Wells Fargo & Company

Increases - None reported

Reductions - Citigroup, Inc., Goldman Sachs Group, Inc. (The), MBIA Inc., Sanofi

Complete Exits - Beyond, Inc., Nokia Corporation Sponsored

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q3 2018	BAC Bank of America Corporation	Bank of America Corporation	Buy - Position Entry	+93,376	-	$2.75K	93,376
Q3 2018	BHC Bausch Health Companies Inc.	Bausch Health Companies Inc.	Buy - Position Entry	+1,648,992	-	$42.33K	1,648,992
Q3 2018	BYON Beyond, Inc.	Beyond, Inc.	Sell - Position Exit	-6,650	-100.0%	$0.00	-
Q3 2018	C Citigroup, Inc.	Citigroup, Inc.	Sell	-80,000	-38.1%	$9.33K	130,000
Q3 2018	GS Goldman Sachs Group, Inc. (The)	Goldman Sachs Group, Inc. (The)	Sell	-25,000	-33.3%	$11.21K	50,000
Q3 2018	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy - Position Entry	+109,275	-	$12.33K	109,275
Q3 2018	MBI MBIA Inc.	MBIA Inc.	Sell	-122,700	-11.4%	$10.24K	958,097
Q3 2018	NOK Nokia Corporation Sponsored	Nokia Corporation Sponsored	Sell - Position Exit	-650,000	-100.0%	$0.00	-
Q3 2018	SNY Sanofi	Sanofi	Sell	-50,000	-12.2%	$16.08K	360,000
Q3 2018	WFC Wells Fargo & Company	Wells Fargo & Company	Buy - Position Entry	+434,542	-	$22.84K	434,542