# Francis Chou — Chou Associates Management

Source: SEC EDGAR 13F filings (CIK 0001389403).
Page URL: https://superinvestorclub.com/manager/70
Last updated: 2026-07-08T11:36:23.720Z

## Summary

As of the 2026-03-31 reporting period (filed 2026-05-14), Francis Chou reported 31 long equity positions in their Chou Associates Management 13F filing, with a total reported value of $210.3M.

### About

Canadian value investor

## Top 25 holdings

| Rank | Ticker | Company | Shares | Value | % of Portfolio | Change |
|------|--------|---------|--------|-------|----------------|--------|
| 1 | BRK.A | Berkshire Hathaway Inc. Class A | 86 | $61.8M | 29.37% | — |
| 2 | GOOG | ALPHABET INC | 72390 | $20.8M | 9.88% | — |
| 3 | OXY | OCCIDENTAL PETE CORP | 313000 | $20.3M | 9.68% | — |
| 4 | SYF-PB | SYNCHRONY FINANCIAL | 223202 | $15.2M | 7.22% | +3.5% |
| 5 | AAPL | APPLE INC | 44000 | $11.2M | 5.31% | — |
| 6 | STLA | STELLANTIS N.V | 1394194 | $9.9M | 4.70% | — |
| 7 | SIRI | SIRIUSXM HOLDINGS INC | 409589 | $9.5M | 4.50% | — |
| 8 | ALLY | ALLY FINL INC | 225525 | $8.8M | 4.21% | — |
| 9 | PYPL | PAYPAL HLDGS INC | 167400 | $7.6M | 3.60% | 308.3% |
| 10 | JEF | JEFFERIES FINL GROUP INC | 149237 | $6.2M | 2.93% | +1258.3% |
| 11 | BABA | ALIBABA GROUP HLDG LTD | 41900 | $5.3M | 2.50% | — |
| 12 | WFC | WELLS FARGO CO NEW | 59542 | $4.7M | 2.25% | — |
| 13 | GM | GENERAL MTRS CO | 52000 | $3.9M | 1.84% | — |
| 14 | C | CITIGROUP INC | 32695 | $3.7M | 1.76% | — |
| 15 | BHR-PD | BRAEMAR HOTELS & RESORTS INC | 2500000 | $2.5M | 1.17% | NEW |
| 16 | CASH | PATHWARD FINANCIAL INC | 27389 | $2.4M | 1.16% | — |
| 17 | BAC | BANK AMERICA CORP | 50000 | $2.4M | 1.16% | — |
| 18 | POOL | POOL CORP | 10636 | $2.2M | 1.02% | — |
| 19 | MBI | MBIA INC | 321000 | $1.9M | 0.90% | — |
| 20 | KHC | KRAFT HEINZ CO | 69500 | $1.6M | 0.74% | NEW |
| 21 | BRK.B | Berkshire Hathaway Inc. Class B | 3100 | $1.5M | 0.71% | NEW |
| 22 | AGO | ASSURED GUARANTY LTD | 16990 | $1.4M | 0.66% | +54.6% |
| 23 | MEOH | METHANEX CORP | 20000 | $1.2M | 0.57% | — |
| 24 | CYD | CHINA YUCHAI INTL LTD | 23364 | $899,515 | 0.43% | — |
| 25 | IMO | IMPERIAL OIL LTD | 5000 | $654,914 | 0.31% | — |

## New positions this quarter (5)

- BHR-PD (BRAEMAR HOTELS & RESORTS INC): 2500000 shares, $2.5M
- KHC (KRAFT HEINZ CO): 69500 shares, $1.6M
- BRK.B (Berkshire Hathaway Inc. Class B): 3100 shares, $1.5M
- HPQ (HP INC): 26500 shares, $509,065
- ATKR (ATKORE INC): 8400 shares, $494,844

## Increased positions (3)

- SYF-PB: 223202 shares (+3.5%), $15.2M
- JEF: 149237 shares (+1258.3%), $6.2M
- AGO: 16990 shares (+54.6%), $1.4M

## Reduced positions (1)

- PYPL: 167400 shares (308.3%), $7.6M

## Sold positions (2)

- VTS: previously held 1293 shares worth $24,903
- HTZWW: previously held 1000 shares worth $2,680

## Filing history (9)

- 2026-03-31 (filed 2026-05-14)
- 2025-12-31 (filed 2026-02-13)
- 2025-09-30 (filed 2025-11-14)
- 2025-06-30 (filed 2025-08-13)
- 2025-03-31 (filed 2025-05-15)
- 2024-12-31 (filed 2025-02-13)
- 2024-09-30 (filed 2024-11-08)
- 2024-06-30 (filed 2024-08-14)
- 2024-03-31 (filed 2024-05-14)

## Citation

When citing, use: "Francis Chou, Chou Associates Management, SEC 13F filing for period 2026-03-31, via Superinvestor (https://superinvestorclub.com/manager/70)".