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CAM

Chou Associates Management Portfolio holdings

AUM $210M
1-Year Est. Return 15.42%
This Fund
S&P 500
This Quarter Est. Return
+15.99%
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
$174M
AUM Growth
+$9.81M
Cap. Flow
-$13.9M
Cap. Flow %
-8.03%
Top 10 Hldgs %
93.88%
Holding
22
New
–
Increased
–
Reduced
4
Closed
2

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
WFC icon
Wells Fargo
WFC
+$6.81M
2
BAC icon
Bank of America
BAC
+$2.1M
3
DVA icon
DaVita
DVA
+$1.33M
4
ENDP
Endo International plc
ENDP
+$1.22M
5
BHC icon
Bausch Health
BHC
+$780K

Sector Composition

Rank Sector Weight
1 Financials 49.2%
2 Healthcare 32.82%
3 Technology 1.96%
4 Industrials 1.82%
5 Consumer Discretionary 1.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BRK.A icon
1
Berkshire Hathaway Class A
BRK.A
$1.1T
$50.9M 29.33%
150
– –
BHC icon
2
Bausch Health
BHC
$2.58B
$48.4M 27.89%
1,618,992
-30,000
-2% -$780K
RFP
3
DELISTED
Resolute Forest Products Inc.
RFP
$19.2M 11.06%
4,571,960
– –
WFC icon
4
Wells Fargo
WFC
$261B
$11.3M 6.49%
209,542
-130,000
-38% -$6.81M
DVA icon
5
DaVita
DVA
$15.4B
$7.56M 4.35%
100,743
-20,000
-17% -$1.33M
JPM icon
6
JPMorgan Chase
JPM
$935B
$6.17M 3.55%
44,275
– –
MBI icon
7
MBIA
MBI
$261M
$6.07M 3.49%
652,531
– –
C icon
8
Citigroup
C
$222B
$5.41M 3.11%
67,695
– –
GS icon
9
Goldman Sachs
GS
$300B
$4.6M 2.65%
20,000
– –
BB icon
10
BlackBerry
BB
$4.98B
$3.4M 1.96%
529,040
– –
SAVE
11
DELISTED
Spirit Airlines, Inc.
SAVE
$2.02M 1.16%
50,000
– –
MGA icon
12
Magna International
MGA
$18.7B
$1.1M 0.63%
20,000
– –
PKX icon
13
POSCO
PKX
$16.1B
$1.06M 0.61%
21,000
– –
SNY icon
14
Sanofi
SNY
$103B
$1M 0.58%
20,000
– –
BAC icon
15
Bank of America
BAC
$435B
$999K 0.58%
28,376
-65,000
-70% -$2.1M
CYD icon
16
China Yuchai International
CYD
$1.77B
$978K 0.56%
73,364
– –
ALGT icon
17
Allegiant Air
ALGT
$2.64B
$751K 0.43%
4,317
– –
STLA icon
18
Stellantis
STLA
$21.7B
$441K 0.25%
30,000
– –
RYAAY icon
19
Ryanair
RYAAY
$30.4B
$401K 0.23%
11,438
– –
TEVA icon
20
Teva Pharmaceuticals
TEVA
$40.8B
– –
-15,000
Closed -$103K
ENDP
21
DELISTED
Endo International plc
ENDP
– –
-380,000
Closed -$1.22M

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WI
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UAH
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UI
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PCP
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RWRC
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GHP
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Chou Associates Management's Q4 2019 Portfolio in Review

As of Q4 2019, Chou Associates Management held 22 positions worth $174M, up 6% from $164M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Chou Associates Management withdrew a net $13.9M in Q4 2019, closing 2 positions and reducing 4 holdings. Its most notable exit was Endo International plc, an estimated $1.22M position sold in full.

By sector, the portfolio is most concentrated in Financials at 49% of assets, down from 53% a quarter earlier, followed by Healthcare and Technology.

  • Chou Associates Management's biggest Q4 2019 reduction was Wells Fargo, cutting an estimated $6.81M.
  • Chou Associates Management fully exited Endo International plc in Q4 2019, selling an estimated $1.22M.
  • Chou Associates Management's ten largest holdings make up 94% of its $174M portfolio in Q4 2019.
  • Chou Associates Management opened 0 new positions and closed 2 in Q4 2019.
  • Chou Associates Management's portfolio value rose 6% quarter-over-quarter to $174M.

Based on Chou Associates Management's 13F filing for Q4 2019, filed 4 Mar 2020.