We are live on ! Find out more
FC

Francis Chou Chou Associates Management

AUM $217M
1-Year Est. Return 23.58%
 

Francis Chou is the founder of Chou Associates Management and a Canadian value investor known for deep-value and special-situation securities. His funds have historically owned a mix of equities and distressed or complex instruments when prices offered a margin of safety. Chou’s annual reports are read for candid discussion of mistakes, opportunities, and long-term results.

This Fund
S&P 500
This Quarter Est. Return
-0.62%
1 Year Est. Return
+23.58%
3 Year Est. Return
+66.36%
5 Year Est. Return
+125.96%
10 Year Est. Return
+766.48%
AUM
$140M
AUM Growth
+$50.9M
Cap. Flow
+$57.9M
Cap. Flow %
41.34%
Top 10 Hldgs %
86.35%
Holding
33
New
15
Increased
8
Reduced
1
Closed
2

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$14M
2
STLA icon
Stellantis
STLA
+$9.87M
3
AAPL icon
Apple
AAPL
+$8.21M
4
BRK.A icon
Berkshire Hathaway Class A
BRK.A
+$6.16M
5
POOL icon
Pool Corp
POOL
+$3.85M

Top Sells

Rank Stock Value
1
BHC icon
Bausch Health
BHC
+$7.76M
2
HTZWW
Hertz Global Holdings Warrants
HTZWW
+$1.55M
3
BB icon
BlackBerry
BB
+$876K

Sector Composition

Rank Sector Weight
1 Financials 68.49%
2 Communication Services 12.76%
3 Consumer Discretionary 7.75%
4 Technology 6.62%
5 Industrials 2.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IMO icon
26
Imperial Oil
IMO
$66.8B
$341K 0.24%
5,000
– –
RYAAY icon
27
Ryanair
RYAAY
$28.9B
$277K 0.2%
5,938
– –
BABA icon
28
Alibaba
BABA
$286B
$245K 0.17%
3,400
– –
MEOH icon
29
Methanex
MEOH
$4.65B
$193K 0.14%
4,000
– –
CACC icon
30
Credit Acceptance
CACC
$6.24B
$135K 0.1%
+262
New +$133K
VTS icon
31
Vitesse Energy
VTS
$720M
$30.6K 0.02%
+1,293
New +$30.7K
BB icon
32
BlackBerry
BB
$4.71B
– –
-312,900
Closed -$876K
BHC icon
33
Bausch Health
BHC
$2.41B
– –
-715,000
Closed -$7.76M
1
2

Similar funds

FF
Friedenthal Financial Marlton, New Jersey $217M AUM 21.15% 1-Year Est. Return
BRPW
Ballast Rock Private Wealth Charleston, South Carolina $217M AUM
TGM
Tenzing Global Management San Francisco, California $216M AUM 75.21% 1-Year Est. Return
BAM
Bellevue Asset Management Bellevue, Washington $217M AUM 14.36% 1-Year Est. Return
O3W
Omni 360 Wealth Plainsboro, New Jersey $216M AUM 19.47% 1-Year Est. Return
EG
Enstar Group Hamilton, Bermuda $216M AUM 13.01% 1-Year Est. Return
GAA
Guardian Asset Advisors Mechanicsburg, Pennsylvania $217M AUM 27.27% 1-Year Est. Return
ICM
Islay Capital Management Lubbock, Texas $216M AUM 20.41% 1-Year Est. Return

Francis Chou's Q2 2024 Portfolio in Review

As of Q2 2024, Francis Chou held 33 positions worth $140M, up 57% from $89.1M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Francis Chou deployed $57.9M of net new capital in Q2 2024, opening 15 new positions and adding to 8 existing holdings. Its largest new stake was Alphabet (Google) Class C: 82,390 shares worth $15.1M.

By sector, the portfolio is most concentrated in Financials at 68% of assets, down from 81% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was Hertz Global Holdings Warrants, an estimated $1.55M trimmed.

  • Francis Chou's largest Q2 2024 buy was Alphabet (Google) Class C: 82,390 shares worth $15.1M.
  • Francis Chou added most to Stellantis in Q2 2024, an estimated $9.87M increase.
  • Francis Chou's biggest Q2 2024 reduction was Hertz Global Holdings Warrants, cutting an estimated $1.55M.
  • Francis Chou fully exited Bausch Health in Q2 2024, selling an estimated $7.76M.
  • Francis Chou's ten largest holdings make up 86% of its $140M portfolio in Q2 2024.
  • Francis Chou opened 15 new positions and closed 2 in Q2 2024.
  • Francis Chou's portfolio value rose 57% quarter-over-quarter to $140M.

Based on Chou Associates Management's 13F filing for Q2 2024, filed 14 Aug 2024.