FC
Francis Chou
Chou Associates Management
- Portfolio value
- $216,591,903
- Stocks
- 31
- Period
- Q2 2026
- Filed
- 12 Aug 2026
Value investing pioneer in Canada; patient, research-intensive, contrarian bottom-up picker.
✦
Cut Apple Inc 9.1% and opened 1 new position, the largest VTS at 0.0%. Unknown is still the biggest weight in the book at 39.5%. The top five names are 62% of it.
Sector exposure
Unknown
39.5%
Financial Services
23.8%
Communication Services
17.4%
Energy
7.3%
Technology
5.6%
Consumer Cyclical
4.5%
Industrials
1.4%
Basic Materials
0.4%
Concentration
29.7%Largest, BRK/A
62%Top 5
83%Top 10
6Positions over 5%
14Under 1%, 6% of the book
Portfolio return
Time-weighted · held at window start
By position
By sector
| Stock | % Portfolio | Recent Activity | Shares | Reported Price | Value | |
|---|---|---|---|---|---|---|
| BRK/A — Berkshire Hathaway Inc-Cl A | 29.73% | 86 | $748849.77 | $64,401,080 | ↗ ◎ | |
| GOOG — Alphabet Inc Cl C | 11.81% | 72,390 | $353.33 | $25,577,559 | ↗ ◎ | |
| SYF — Synchrony Financial | 7.84% | 223,202 | $76.05 | $16,974,508 | ↗ ◎ | |
| OXY — Occidental Petroleum Corp | 7.02% | 313,000 | $48.57 | $15,202,408 | ↗ ◎ | |
| SIRI — Sirius Xm Holdings Inc | 5.59% | 409,589 | $29.54 | $12,099,255 | ↗ ◎ | |
| AAPL — Apple Inc | 5.34% | Reduce 9.09% | 40,000 | $289.36 | $11,574,400 | ↗ ◎ |
| ALLY — Ally Financial Inc | 4.79% | 225,525 | $45.95 | $10,362,871 | ↗ ◎ | |
| STLA — Stellantis N.v. | 3.69% | 1,394,194 | $5.74 | $8,002,672 | ↗ ◎ | |
| JEF — Jefferies Financial Group In | 3.44% | 149,237 | $49.98 | $7,458,863 | ↗ ◎ | |
| PAYPAL HLDGS INC | 3.34% | 167,400 | $43.18 | $7,228,330 | ||
| WFC — Wells Fargo & Co | 2.27% | 59,542 | $82.64 | $4,920,550 | ↗ ◎ | |
| C — Citigroup Inc | 2.11% | 32,695 | $139.96 | $4,575,990 | ↗ ◎ | |
| BABA — Alibaba Group Holding-Sp Adr | 1.86% | 41,900 | $95.98 | $4,021,562 | ↗ ◎ | |
| GM — General Motors Co | 1.85% | 52,000 | $77.08 | $4,008,159 | ↗ ◎ | |
| BAC — Bank Of America Corp | 1.31% | 50,000 | $56.98 | $2,849,000 | ↗ ◎ | |
| CASH — Pathward Financial, Inc. | 1.10% | 27,389 | $87.06 | $2,384,485 | ↗ ◎ | |
| POOL — Pool Corp | 1.05% | 10,636 | $214.90 | $2,285,676 | ↗ ◎ | |
| MBI — Mbia Inc | 0.97% | 321,000 | $6.52 | $2,092,920 | ↗ ◎ | |
| KHC — Kraft Heinz Co/the | 0.76% | 69,500 | $23.62 | $1,641,590 | ↗ ◎ | |
| BRK/B — Berkshire Hathaway Inc-Cl B | 0.72% | 3,100 | $500.39 | $1,551,209 | ↗ ◎ | |
| AGO — Assured Guaranty Ltd | 0.63% | 16,990 | $80.16 | $1,361,918 | ↗ ◎ | |
| CYD — China Yuchai International Ltd | 0.51% | 23,364 | $47.41 | $1,107,687 | ↗ ◎ | |
| MEOH — Methanex Corp | 0.43% | 20,000 | $46.19 | $923,814 | ↗ ◎ | |
| MCO — Moody's Corp | 0.31% | 1,500 | $452.92 | $679,380 | ↗ ◎ | |
| MGA — Magna International Inc | 0.30% | 10,000 | $65.66 | $656,600 | ↗ ◎ | |
| ATKR — Atkore Inc | 0.29% | 8,400 | $76.04 | $638,736 | ↗ ◎ | |
| HPQ — Hp Inc | 0.27% | 26,500 | $21.94 | $581,410 | ↗ ◎ | |
| IMO — Imperial Oil Ltd | 0.26% | 5,000 | $112.29 | $561,466 | ↗ ◎ | |
| LPX — Louisiana-Pacific Corp | 0.21% | 5,886 | $78.66 | $462,993 | ↗ ◎ | |
| RYAAY — Ryanair Holdings Plc-Sp Adr | 0.18% | 5,937 | $64.75 | $384,421 | ↗ ◎ | |
| VTS — Vitesse Energy Inc | 0.01% | New | 1,293 | $15.77 | $20,391 | ↗ ◎ |