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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
+3.37%
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
$185M
AUM Growth
+$38.3M
Cap. Flow
+$37.3M
Cap. Flow %
20.18%
Top 10 Hldgs %
84.53%
Holding
34
New
2
Increased
3
Reduced
–
Closed
1

Top Buys

Rank Stock Value
1
SIRI icon
SiriusXM
SIRI
+$16.2M
2
STLA icon
Stellantis
STLA
+$12.1M
3
BABA icon
Alibaba
BABA
+$4.44M
4
OXY icon
Occidental Petroleum
OXY
+$3.32M
5
GM icon
General Motors
GM
+$2.56M

Top Sells

No sells this quarter

Sector Composition

Rank Sector Weight
1 Financials 59.18%
2 Communication Services 15.66%
3 Consumer Discretionary 13.83%
4 Technology 5.28%
5 Industrials 2.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RYAAY icon
26
Ryanair
RYAAY
$28.9B
$252K 0.14%
5,937
– –
MEOH icon
27
Methanex
MEOH
$4.65B
$140K 0.08%
4,000
– –
LBTYA icon
28
Liberty Global Class A
LBTYA
$3.63B
$138K 0.07%
12,000
– –
CACC icon
29
Credit Acceptance
CACC
$6.24B
$135K 0.07%
262
– –
SNRE
30
DELISTED
Sunrise Communications AG American Depositary Shares representing Class A shares
SNRE
$116K 0.06%
2,400
– –
VTS icon
31
Vitesse Energy
VTS
$720M
$31.8K 0.02%
1,293
– –
HTZWW
32
Hertz Global Holdings Warrants
HTZWW
$93.8M
– –
0
– –
BABA icon
33
CALL
Alibaba
BABA
$286B
– –
-38,500
Closed -$1.32M
1
2

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Francis Chou's Q1 2025 Portfolio in Review

As of Q1 2025, Francis Chou held 34 positions worth $185M, up 26% from $147M the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Francis Chou deployed $37.3M of net new capital in Q1 2025, opening 2 new positions and adding to 3 existing holdings. Its largest new stake was Occidental Petroleum: 68,000 shares worth $3.36M.

By sector, the portfolio is most concentrated in Financials at 59% of assets, down from 71% a quarter earlier, followed by Communication Services and Consumer Discretionary.

  • Francis Chou's largest Q1 2025 buy was Occidental Petroleum: 68,000 shares worth $3.36M.
  • Francis Chou added most to SiriusXM in Q1 2025, an estimated $16.2M increase.
  • Francis Chou's ten largest holdings make up 85% of its $185M portfolio in Q1 2025.
  • Francis Chou opened 2 new positions and closed 1 in Q1 2025.
  • Francis Chou's portfolio value rose 26% quarter-over-quarter to $185M.

Based on Chou Associates Management's 13F filing for Q1 2025, filed 15 May 2025.