# Francis Chou — Chou Associates

Portfolio USD 216,592,000 · 31 positions · 2026 Q2 · history from 2013 Q2.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/ca

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| BRK.A | Berkshire Hathaway CL A | 30% | USD 64,401,000 | hold |  |
| GOOG | Alphabet Inc. CL C | 12% | USD 25,578,000 | hold |  |
| SYF | Synchrony Financial | 7.8% | USD 16,975,000 | hold |  |
| OXY | Occidental Petroleum | 7.0% | USD 15,202,000 | hold |  |
| SIRI | SiriusXM Holdings Inc | 5.6% | USD 12,099,000 | hold |  |
| AAPL | Apple Inc. | 5.3% | USD 11,574,000 | -9.09% |  |
| ALLY | Ally Financial Inc. | 4.8% | USD 10,363,000 | hold |  |
| STLA | Stellantis N.V. | 3.7% | USD 8,003,000 | hold |  |
| JEF | Jefferies Financial Group Inc. | 3.4% | USD 7,459,000 | hold |  |
| PYPL | PayPal Holdings Inc. | 3.3% | USD 7,228,000 | hold |  |
| WFC | Wells Fargo | 2.3% | USD 4,921,000 | hold |  |
| C | Citigroup Inc. | 2.1% | USD 4,576,000 | hold |  |
| BABA | Alibaba Group Holdings | 1.9% | USD 4,022,000 | hold |  |
| GM | General Motors | 1.9% | USD 4,008,000 | hold |  |
| BAC | Bank of America Corp. | 1.3% | USD 2,849,000 | hold |  |
| CASH | Meta Financial Group Inc. | 1.1% | USD 2,384,000 | hold |  |
| POOL | Pool Corp. | 1.1% | USD 2,286,000 | hold |  |
| MBI | MBIA Inc. | 1.0% | USD 2,093,000 | hold |  |
| KHC | Kraft Heinz Co. | 0.8% | USD 1,642,000 | hold |  |
| BRK.B | Berkshire Hathaway CL B | 0.7% | USD 1,551,000 | hold |  |
| AGO | Assured Guaranty Ltd. | 0.6% | USD 1,362,000 | hold |  |
| CYD | China Yuchai Intl Ltd. | 0.5% | USD 1,108,000 | hold |  |
| MEOH | Methanex Corp. | 0.4% | USD 924,000 | hold |  |
| MCO | Moody's Corp. | 0.3% | USD 679,000 | hold |  |
| MGA | Magna International Inc. | 0.3% | USD 657,000 | hold |  |
| ATKR | Atkore International Group Inc. | 0.3% | USD 639,000 | hold |  |
| HPQ | HP Inc. | 0.3% | USD 581,000 | hold |  |
| IMO | Imperial Oil Ltd. | 0.3% | USD 561,000 | hold |  |
| LPX | Louisiana-Pacific Corp. | 0.2% | USD 463,000 | hold |  |
| RYAAY | Ryanair Holdings PLC | 0.2% | USD 384,000 | hold |  |
| VTS | Vitesse Energy Inc. | <0.1% | USD 20,000 | new |  |

## Moves this quarter (2)

- AAPL Apple Inc.: -9.09% (USD 11,574,000)
- VTS Vitesse Energy Inc.: new (USD 20,000)

## Portfolio value by quarter

- 2013 Q2: USD 321,235,141 (21 positions)
- 2013 Q3: USD 328,925,814 (21 positions)
- 2013 Q4: USD 306,541,124 (19 positions)
- 2014 Q1: USD 313,496,267 (20 positions)
- 2014 Q2: USD 312,418,633 (20 positions)
- 2014 Q3: USD 336,914,052 (21 positions)
- 2014 Q4: USD 329,286,167 (19 positions)
- 2015 Q1: USD 328,815,472 (20 positions)
- 2015 Q2: USD 324,827,374 (22 positions)
- 2015 Q3: USD 289,218,249 (23 positions)
- 2015 Q4: USD 290,323,852 (23 positions)
- 2016 Q1: USD 268,263,852 (24 positions)
- 2016 Q2: USD 257,126,499 (25 positions)
- 2016 Q3: USD 265,042,691 (25 positions)
- 2016 Q4: USD 304,598,255 (25 positions)
- 2017 Q1: USD 296,428,195 (25 positions)
- 2017 Q2: USD 318,782,179 (25 positions)
- 2017 Q3: USD 281,271,735 (23 positions)
- 2017 Q4: USD 229,022,930 (22 positions)
- 2018 Q1: USD 232,591,042 (22 positions)
- 2018 Q2: USD 259,626,204 (24 positions)
- 2018 Q3: USD 276,158,833 (22 positions)
- 2018 Q4: USD 209,717,865 (24 positions)
- 2019 Q1: USD 224,441,756 (22 positions)
- 2019 Q2: USD 211,275,197 (22 positions)
- 2019 Q3: USD 162,271,404 (21 positions)
- 2019 Q4: USD 171,812,981 (19 positions)
- 2020 Q1: USD 99,930,277 (19 positions)
- 2020 Q2: USD 90,970,179 (18 positions)
- 2020 Q3: USD 99,384,797 (18 positions)
- 2020 Q4: USD 130,002,375 (16 positions)
- 2021 Q1: USD 99,930,277 (19 positions)
- 2021 Q2: USD 171,056,013 (15 positions)
- 2021 Q3: USD 159,031,676 (15 positions)
- 2021 Q4: USD 144,381,331 (15 positions)
- 2022 Q1: USD 135,412,729 (14 positions)
- 2022 Q2: USD 103,594,255 (17 positions)
- 2022 Q3: USD 101,003,465 (18 positions)
- 2022 Q4: USD 70,761,396 (18 positions)
- 2023 Q1: USD 71,669,813 (17 positions)
- 2023 Q2: USD 78,954,705 (18 positions)
- 2023 Q3: USD 75,046,628 (18 positions)
- 2023 Q4: USD 76,070,577 (16 positions)
- 2024 Q1: USD 89,112,049 (18 positions)
- 2024 Q2: USD 139,067,273 (30 positions)
- 2024 Q3: USD 157,467,967 (32 positions)
- 2024 Q4: USD 145,365,972 (31 positions)
- 2025 Q1: USD 181,841,853 (32 positions)
- 2025 Q2: USD 182,805,472 (31 positions)
- 2025 Q3: USD 207,721,527 (31 positions)
- 2025 Q4: USD 201,575,156 (28 positions)
- 2026 Q1: USD 207,813,541 (30 positions)
- 2026 Q2: USD 216,592,000 (31 positions)