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Chou Associates Management Portfolio holdings

AUM $210M
1-Year Est. Return 15.42%
This Fund
S&P 500
This Quarter Est. Return
+10.29%
1 Year Est. Return
+15.42%
3 Year Est. Return
+71.66%
5 Year Est. Return
+124.52%
10 Year Est. Return
+681.17%
AUM
$324M
AUM Growth
+$22.4M
Cap. Flow
-$2.66M
Cap. Flow %
-0.82%
Top 10 Hldgs %
77.79%
Holding
27
New
–
Increased
2
Reduced
2
Closed
–

Top Buys

Rank Stock Value
1
TEVA icon
Teva Pharmaceuticals
TEVA
+$8.98M
2
BHC icon
Bausch Health
BHC
+$8.39M

Top Sells

Rank Stock Value
1
NOK icon
Nokia
NOK
+$9M
2
C icon
Citigroup
C
+$6.13M

Sector Composition

Rank Sector Weight
1 Healthcare 30.96%
2 Financials 26.59%
3 Consumer Discretionary 7.73%
4 Technology 4.03%
5 Industrials 2.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHC icon
1
Bausch Health
BHC
$2.58B
$53M 16.38%
3,053,843
+700,000
+30% +$8.39M
BRK.A icon
2
Berkshire Hathaway Class A
BRK.A
$1.1T
$38.3M 11.84%
150
– –
JPM.WS
3
DELISTED
JPMorgan Chase
JPM.WS
$31.6M 9.76%
626,347
– –
WFC.WS
4
DELISTED
Wells Fargo & Company Ws
WFC.WS
$22.2M 6.87%
997,500
– –
RFP
5
DELISTED
Resolute Forest Products Inc.
RFP
$21.9M 6.77%
4,963,423
– –
C icon
6
Citigroup
C
$222B
$20.8M 6.43%
310,000
-100,000
-24% -$6.13M
SNY icon
7
Sanofi
SNY
$103B
$19.7M 6.09%
410,000
– –
TEVA icon
8
Teva Pharmaceuticals
TEVA
$40.8B
$16.8M 5.2%
505,000
+290,000
+135% +$8.98M
GS icon
9
Goldman Sachs
GS
$300B
$16.7M 5.16%
75,000
– –
ENDP
10
DELISTED
Endo International plc
ENDP
$10.7M 3.29%
950,000
– –
MBI icon
11
MBIA
MBI
$261M
$10.2M 3.16%
1,080,797
– –
SHLD
12
DELISTED
Sears Holding Corporation
SHLD
$10.1M 3.11%
1,131,610
– –
BBBY
13
Bed Bath & Beyond
BBBY
$481M
$9.53M 2.94%
775,003
– –
NOK icon
14
Nokia
NOK
$51B
$7.73M 2.39%
1,250,000
-1,500,000
-55% -$9M
BAC.WS.A
15
DELISTED
Bank Of America Corporation Ws A
BAC.WS.A
$6.49M 2%
536,825
– –
BB icon
16
BlackBerry
BB
$4.98B
$5.31M 1.64%
529,040
– –
ASCMA
17
DELISTED
Ascent Capital Group, Inc. Series A
ASCMA
$4.72M 1.46%
306,000
– –
SHOS
18
DELISTED
Sears Hometown and Outlet Stores, Inc.
SHOS
$3.58M 1.11%
1,322,209
– –
SD icon
19
SandRidge Energy
SD
$514M
$2.71M 0.84%
156,623
– –
RYAAY icon
20
Ryanair
RYAAY
$30.4B
$1.79M 0.55%
41,438
– –
CYD icon
21
China Yuchai International
CYD
$1.77B
$1.34M 0.41%
73,364
– –
CBI
22
DELISTED
Chicago Bridge & Iron Nv
CBI
$1.34M 0.41%
67,446
– –
PKX icon
23
POSCO
PKX
$16.1B
$1.32M 0.41%
21,000
– –
SRSC
24
DELISTED
SEARS Canada Inc.
SRSC
$529K 0.16%
775,149
– –
GM.WS.B
25
DELISTED
General Motors Company
GM.WS.B
$226K 0.07%
13,019
– –

Similar funds

ESC
Eurizon SLJ Capital London $210M AUM
FSA
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WI
Westbourne Investments Arlington, Virginia $210M AUM 40.95% 1-Year Est. Return
UAH
United Airlines Holdings Chicago, Illinois $211M AUM
UI
Unconventional Investor Portsmouth, New Hampshire $211M AUM 14.16% 1-Year Est. Return
PCP
P2 Capital Partners New York $210M AUM 1.23% 1-Year Est. Return
RWRC
R.W. Roge & Company Bohemia, New York $210M AUM 18.75% 1-Year Est. Return
GHP
Great Hill Partners Boston, Massachusetts $210M AUM 134.81% 1-Year Est. Return

Chou Associates Management's Q2 2017 Portfolio in Review

As of Q2 2017, Chou Associates Management held 27 positions worth $324M, up 7.4% from $301M the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Trading was light in Q2 2017: portfolio turnover was 0%. Chou Associates Management opened no new positions and made no exits, leaving the 27-position portfolio largely intact.

By sector, the portfolio is most concentrated in Healthcare at 31% of assets, up from 21% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Chou Associates Management added most to Teva Pharmaceuticals in Q2 2017, an estimated $8.98M increase.
  • Chou Associates Management's biggest Q2 2017 reduction was Nokia, cutting an estimated $9M.
  • Chou Associates Management's ten largest holdings make up 78% of its $324M portfolio in Q2 2017.
  • Chou Associates Management opened 0 new positions and closed 0 in Q2 2017.
  • Chou Associates Management's portfolio value rose 7.4% quarter-over-quarter to $324M.

Based on Chou Associates Management's 13F filing for Q2 2017, filed 15 Aug 2017.