Francis Chou - Chou Associates
Superinvestor profile · Rank #144 by reported 13F value (2026 Q2 filers) · CIK 0001389403 · All profiles
Founded 1986Toronto, Ontario, CanadaDeep value, Graham-and-Dodd, contrarian and long-termKey person: Francis Chou (founder and fund manager)
Reported 13F value
$217M
Period 2026-06-30 · Filed 2026-08-12
Positions
31
Top 10 = 82.6% of value
Clone CAGR (full window)
+9.4%
2016-10-31 → 2026-10-02 · cumulative +143%
SPY CAGR (same window)
+15.7%
Cumulative +324%
Max drawdown (monthly)
-39%
Month-end values, approximate
Latest-quarter activity
1 new · 1 exited
0 increased · 1 decreased
Hypothetical clone — not this fund's returns. The performance on this page replicates only the long U.S. equity positions disclosed on this manager's Form 13F filings, rebalanced on filing dates at disclosed weights with dividend-adjusted prices. It excludes shorts, bonds, cash, non-U.S. listings, private holdings, leverage and fees. Treat it as a measure of how the disclosed stock picks performed, never as the fund's track record. Evidence: filing-by-filing dossier (PDF) · Methodology (PDF)
Clone performance
| Window | Clone CAGR | Note |
|---|---|---|
| Full window (2016-10-31 → 2026-10-02, 40 filings) | +9.37% | Cumulative +143.2% vs SPY +324.0% |
| Trailing 10Y | — | |
| Trailing 5Y | +7.18% | |
| Trailing 3Y | +20.52% | |
| Trailing 1Y | +7.92% |
Top holdings — 2026 Q2 filing
| Ticker | Company | Weight | Reported value |
|---|---|---|---|
| BRK.A | Berkshire Hathaway Inc Del | 29.73% | $64M |
| GOOG | Alphabet Inc | 11.81% | $26M |
| SYF | Synchrony Financial | 7.84% | $17M |
| OXY | Occidental Pete Corp | 7.02% | $15M |
| SIRI | Siriusxm Holdings Inc | 5.59% | $12M |
| AAPL | Apple Inc | 5.34% | $12M |
| ALLY | Ally Finl Inc | 4.78% | $10M |
| STLA | Stellantis N.V | 3.69% | $8M |
| JEF | Jefferies Finl Group Inc | 3.44% | $7M |
| PYPL | Paypal Hldgs Inc | 3.34% | $7M |
As reported on the 2026-06-30 Form 13F (filed 2026-08-12). Full holdings and quarter changes: holdings page.
Filing history in this profile
Every clone input traces to one of these SEC filings. 95.2% of the latest filing's reported value is covered by our price history; the remainder is mostly non-U.S. listings, recent IPOs or delisted names and is excluded from the clone.
Background (founded / HQ / style) source: http://choufunds.com/pdf/Chou%20Funds%202019%20Annual%20Report.pdf — Official Chou Funds annual report: Chou Associates Management Inc. is manager and trustee, the funds' registered office is 110 Sheppard Avenue East, Suite 301, Toronto, Ontario, and the Chou Associates Fund was formed on September 1, 1986 (Chou Asia and Chou Europe funds were added in 2003).