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Chou Associates Management Inc. Francis Chou

Toronto, A6 20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

  • $217M
  • 31 holdings
  • 2026 Q2
  • +3.3% QoQ
  • Top 5 61.9%

In 2026 Q2 Francis Chou opened Vitesse Energy and trimmed Apple.

Portfolio

2026 Q2, filed 8/12/2026, top 12 of 31 holdings

Top 5 61.9%, top 10 82.6%

AUM over time

2026 Q2 $217M +3.3% QoQ
2021 Q3: $207M 2021 Q3: $207M
Q3 2021
2021 Q4: $191M, −7.7% QoQ 2021 Q4: $191M, −7.7% QoQ
Q4
2022 Q1: $188M, −1.6% QoQ 2022 Q1: $188M, −1.6% QoQ
Q1 2022
2022 Q2: $140M, −25.5% QoQ 2022 Q2: $140M, −25.5% QoQ
Q2
2022 Q3: $140M, 0.0% QoQ 2022 Q3: $140M, 0.0% QoQ
Q3
2022 Q4: $71M, −49.3% QoQ 2022 Q4: $71M, −49.3% QoQ
Q4
2023 Q1: $72M, +1.4% QoQ 2023 Q1: $72M, +1.4% QoQ
Q1 2023
2023 Q2: $79M, +9.7% QoQ 2023 Q2: $79M, +9.7% QoQ
Q2
2023 Q3: $75M, −5.1% QoQ 2023 Q3: $75M, −5.1% QoQ
Q3
2023 Q4: $76M, +1.3% QoQ 2023 Q4: $76M, +1.3% QoQ
Q4
2024 Q1: $89M, +17.1% QoQ 2024 Q1: $89M, +17.1% QoQ
Q1 2024
2024 Q2: $140M, +57.3% QoQ 2024 Q2: $140M, +57.3% QoQ
Q2
2024 Q3: $160M, +14.3% QoQ 2024 Q3: $160M, +14.3% QoQ
Q3
2024 Q4: $147M, −8.1% QoQ 2024 Q4: $147M, −8.1% QoQ
Q4
2025 Q1: $185M, +25.9% QoQ 2025 Q1: $185M, +25.9% QoQ
Q1 2025
2025 Q2: $183M, −1.1% QoQ 2025 Q2: $183M, −1.1% QoQ
Q2
2025 Q3: $208M, +13.7% QoQ 2025 Q3: $208M, +13.7% QoQ
Q3
2025 Q4: $202M, −2.9% QoQ 2025 Q4: $202M, −2.9% QoQ
Q4
2026 Q1: $210M, +4.0% QoQ 2026 Q1: $210M, +4.0% QoQ
Q1 2026
2026 Q2: $217M, +3.3% QoQ 2026 Q2: $217M, +3.3% QoQ
Q2

Latest book

2026 Q2 2026 Q1, filed 12 Aug, long equity only

BRK.A, Berkshire Hathaway Class A 29.73% Hold 86 $748,850 $64M — —
GOOG, Alphabet 11.81% Hold 72,390 $353.33 $26M — —
SYF, Synchrony 7.84% Hold 223,202 $76.05 $17M — —
OXY, Occidental 7.02% Hold 313,000 $48.57 $15M — —
SIRI, Sirius XM 5.59% Hold 409,589 $29.54 $12M — —
AAPL, Apple 5.34% Reduce −9.1% 40,000 $289.36 $12M −4,000 +$408K
ALLY, Ally Financial 4.78% Hold 225,525 $45.95 $10M — —
STLA, Stellantis 3.69% Hold 1,394,194 $5.74 $8M — —
JEF, Jefferies 3.44% Hold 149,237 $49.98 $7.5M — —
PYPL, PayPal 3.34% Hold 167,400 $43.18 $7.2M — —
WFC, Wells Fargo 2.27% Hold 59,542 $82.64 $4.9M — —
C, Citigroup 2.11% Hold 32,695 $139.96 $4.6M — —
BABA, Alibaba 1.86% Hold 41,900 $95.98 $4M — —
GM, General Motors 1.85% Hold 52,000 $77.08 $4M — —
BAC, Bank of America 1.32% Hold 50,000 $56.98 $2.8M — —
CASH, Pathward Financial 1.10% Hold 27,389 $87.06 $2.4M — —
POOL, Pool Corporation 1.06% Hold 10,636 $214.90 $2.3M — —
MBI, Mbia 0.97% Hold 321,000 $6.52 $2.1M — —
KHC, Kraft Heinz 0.76% Hold 69,500 $23.62 $1.6M — —
BRK.B, Berkshire Hathaway Class B 0.72% Hold 3,100 $500.39 $1.6M — —
Assured Guaranty 0.63% Hold 16,990 $80.16 $1.4M — —
CYD, China Yuchai International 0.51% Hold 23,364 $47.41 $1.1M — —
MEOH, Methanex 0.43% Hold 20,000 $46.19 $924K — —
MCO, Moody's 0.31% Hold 1,500 $452.92 $679K — —
MGA, Magna International 0.30% Hold 10,000 $65.66 $657K — —
ATKR, Atkore 0.29% Hold 8,400 $76.04 $639K — —
HPQ, HP 0.27% Hold 26,500 $21.94 $581K — —
IMO, Imperial Oil 0.26% Hold 5,000 $112.29 $561K — —
LPX, Louisiana Pacific 0.21% Hold 5,886 $78.66 $463K — —
RYAAY, Ryanair 0.18% Hold 5,937 $64.75 $384K — —
VTS, Vitesse Energy 0.01% New 1,293 $15.77 $20K +1,293 +$20K

Weight bar: held both quarters added sold at this quarter’s reported price

* Reported price is value ÷ shares from the 13F as of period end, not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2026 Q1. Click a column header to sort, or New, Hold, Add or Reduce to bring those moves to the top.

Filings history

20 periods, with AUM normalized

Period Holds AUM QoQ Form Filed Filing ID
2026 Q2 31 $217M +3.3% 13F-HR 8/12/2026 000110465926094668
2026 Q1 31 $210M +4.0% 13F-HR 5/14/2026 000110465926060931
2025 Q4 28 $202M −2.9% 13F-HR 2/13/2026 000110465926015054
2025 Q3 31 $208M +13.7% 13F-HR 11/14/2025 000110465925112218
2025 Q2 31 $183M −1.1% 13F-HR 8/13/2025 000110465925077432
2025 Q1 33 $185M +25.9% 13F-HR 5/15/2025 000110465925049383
2024 Q4 32 $147M −8.1% 13F-HR 2/13/2025 000110465925012614
2024 Q3 33 $160M +14.3% 13F-HR 11/8/2024 000110465924115940
2024 Q2 31 $140M +57.3% 13F-HR 8/14/2024 000110465924089315
2024 Q1 18 $89M +17.1% 13F-HR 5/14/2024 000110465924061246
2023 Q4 16 $76M +1.3% 13F-HR 2/14/2024 000110465924022879
2023 Q3 18 $75M −5.1% 13F-HR 11/14/2023 000110465923117924
2023 Q2 18 $79M +9.7% 13F-HR 8/14/2023 000110465923090662
2023 Q1 17 $72M +1.4% 13F-HR 5/15/2023 000110465923059969
2022 Q4 18 $71M −49.3% 13F-HR 2/14/2023 000110465923021493
2022 Q3 20 $140M 0.0% 13F-HR 11/15/2022 000110465922119059
2022 Q2 19 $140M −25.5% 13F-HR 8/15/2022 000110465922090265
2022 Q1 18 $188M −1.6% 13F-HR 5/16/2022 000110465922061073
2021 Q4 19 $191M −7.7% 13F-HR 2/14/2022 000110465922022069
2021 Q3 19 $207M — 13F-HR 11/15/2021 000110465921138960

About

Chou Associates Management Inc.

20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

Notable person
Francis Chou
SEC filing name
Chou Associates Management Inc.
Location
Toronto, A6
All SEC filings
View on sec.gov