Francis Chou Chou Associates Management
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.
Top Buys
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Chunghwa Telecom
CHT
|
+$4.24M |
| 2 |
SHLDW
Sears Holdings Corporation - Warrant
SHLDW
|
+$15K |
| 3 |
BP
BP
|
+$5.85K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.48% |
| 2 | Consumer Discretionary | 16.74% |
| 3 | Materials | 14.04% |
| 4 | Technology | 9.18% |
| 5 | Healthcare | 6.57% |
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Francis Chou's Q2 2015 Portfolio in Review
As of Q2 2015, Francis Chou held 25 positions worth $327M, down 14% from $381M the previous quarter. Its ten largest holdings account for 85% of the portfolio.
Francis Chou's Q2 2015 filing shows 1 reduced and 2 closed positions. The largest sale was Chunghwa Telecom, an estimated $4.24M.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Materials.
- Francis Chou's biggest Q2 2015 reduction was BP, cutting an estimated $5.85K.
- Francis Chou fully exited Chunghwa Telecom in Q2 2015, selling an estimated $4.24M.
- Francis Chou's ten largest holdings make up 85% of its $327M portfolio in Q2 2015.
- Francis Chou opened 0 new positions and closed 2 in Q2 2015.
- Francis Chou's portfolio value fell 14% quarter-over-quarter to $327M.
Based on Chou Associates Management's 13F filing for Q2 2015, filed 11 Aug 2015.