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
| Rank | Stock | Value |
|---|---|---|
| 1 |
SiriusXM
SIRI
|
+$16.2M |
| 2 |
Stellantis
STLA
|
+$12.1M |
| 3 |
Alibaba
BABA
|
+$4.44M |
| 4 |
Occidental Petroleum
OXY
|
+$3.32M |
| 5 |
General Motors
GM
|
+$2.56M |
Top Sells
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 | |
|---|---|---|---|---|---|---|
1
Berkshire Hathaway Class A
BRK.A
$1.06T
| $68.7M | 37.12% |
86
| – | – |
|
|
2
SiriusXM
SIRI
$9.67B
| $15.8M | 8.56% |
702,462
+689,872
| +5,480% | +$16.2M |
|
|
3
Stellantis
STLA
$20.4B
| $15.7M | 8.46% |
1,396,388
+940,000
| +206% | +$12.1M |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $12.9M | 6.96% |
82,390
| – | – |
|
5
Synchrony
SYF
$25.9B
| $11.4M | 6.17% |
215,702
| – | – |
|
6
Apple
AAPL
$4.51T
| $9.77M | 5.28% |
44,000
| – | – |
|
7
Ally Financial
ALLY
$13.1B
| $8.22M | 4.45% |
225,525
| – | – |
|
|
8
Alibaba
BABA
$286B
| $5.54M | 3% |
41,900
+38,500
| +1,132% | +$4.44M |
|
9
Wells Fargo
WFC
$254B
| $4.27M | 2.31% |
59,542
| – | – |
|
10
Citigroup
C
$221B
| $4.1M | 2.21% |
57,695
| – | – |
|
11
Pool Corp
POOL
$6.83B
| $3.39M | 1.83% |
10,636
| – | – |
|
|
12
Occidental Petroleum
OXY
$61.3B
| $3.36M | 1.81% |
+68,000
| New | +$3.32M |
|
13
Moody's
MCO
$87.2B
| $2.75M | 1.49% |
5,899
| – | – |
|
14
PayPal
PYPL
$52.7B
| $2.68M | 1.45% |
41,000
| – | – |
|
|
15
General Motors
GM
$77.2B
| $2.45M | 1.32% |
+52,000
| New | +$2.56M |
|
16
Bank of America
BAC
$431B
| $2.09M | 1.13% |
50,000
| – | – |
|
17
Pathward Financial
CASH
$1.74B
| $2M | 1.08% |
27,389
| – | – |
|
18
MBIA
MBI
$250M
| $1.6M | 0.86% |
321,000
| – | – |
|
19
China Yuchai International
CYD
$1.5B
| $1.25M | 0.67% |
73,364
| – | – |
|
20
Assured Guaranty
AGO
$3.27B
| $968K | 0.52% |
10,990
| – | – |
|
21
Jefferies Financial Group
JEF
$12.1B
| $589K | 0.32% |
10,987
| – | – |
|
22
Louisiana-Pacific
LPX
$5.12B
| $541K | 0.29% |
5,886
| – | – |
|
23
Imperial Oil
IMO
$66.8B
| $361K | 0.2% |
5,000
| – | – |
|
24
Lear
LEA
$8.56B
| $353K | 0.19% |
4,000
| – | – |
|
25
Magna International
MGA
$19.5B
| $340K | 0.18% |
10,000
| – | – |
|
Similar funds
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.