Francis Chou - Chou Associates

As of Q2 2026, Francis Chou reported 31 long-equity positions worth $216.59M in aggregate.

Copy-investor backtest

Latest quarter: +2.11%
1-year: +14.39%
3-year: +45.08%
5-year: +16.55%
3-year vs S&P 500: -27.31%
5-year vs S&P 500: -56.68%
5-year top 5: +21.83%

Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.

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Filing period

Updated 2026-06-06 from SEC 13F data.

Live quotes available for 7 of 37 rows. Rows without a quote are marked unavailable.


1	ABH	ABITIBIBOWATER INC COM NEW	10.94%	Reduce -1.3%	2,658,821	$38.69M	No quote	No quote
2	WPI	WATSON PHARMACEUTICALS INC COM	10.85%	-	635,400	$38.34M	No quote	No quote
3	-	LEVEL 3 COMMUNICATIONS INC NOTE 15.000% 1/1CUSIP 52729NBM1	9.78%	Reduce -14.2%	30,250,000	$34.59M	No quote	No quote
4	BRK/A	BERKSHIRE HATHAWAY INC DEL CL ACUSIP 084670108	9.74%	-	300	$34.43M	No quote	No quote
5	SHLD	SEARS HLDGS CORP COM	5.25%	Add +20.7%	583,700	$18.55M	No quote	No quote
6	OSTK	OVERSTOCK COM INC DEL COM	5.12%	-	2,310,209	$18.11M	No quote	No quote
7	BACWSA	BANK OF AMERICA CORPORATION W EXP 01/16/201	5.11%	Add +39.9%	8,950,400	$18.08M	No quote	No quote
8	SNY	SANOFI SPONSORED ADR	4.24%	-	410,000	$14.98M	$36.54	No quote
9	GS	GOLDMAN SACHS GROUP INC COM	4.22%	-	165,000	$14.92M	$90.43	No quote
10	S	SPRINT NEXTEL CORP COM SER 1	4.05%	-	6,123,200	$14.33M	No quote	No quote
11	RSH	RADIOSHACK CORP COM	3.55%	Add +29.4%	1,294,071	$12.57M	No quote	No quote
12	FSR	FLAGSTONE REINSURANCE HOLDIN COM	3.52%	-	1,500,000	$12.44M	No quote	No quote
13	JPMWS	JPMORGAN CHASE & CO W EXP 10/28/201	3.08%	-	1,279,423	$10.88M	No quote	No quote
14	C	CITIGROUP INC COM NEW	3.05%	Add +90.5%	410,000	$10.79M	$26.31	No quote
15	WFCWS	WELLS FARGO & CO NEW W EXP 10/28/201	2.42%	-	997,500	$8.56M	No quote	No quote
16	GPS	GAP INC DEL COM	1.97%	-	375,490	$6.97M	No quote	No quote
17	VRX	VALEANT PHARMACEUTICALS INTL COM	1.67%	-	126,377	$5.9M	No quote	No quote
18	PTGI	PRIMUS TELECOMMUNICATIONS GR COM	1.62%	-	451,022	$5.71M	No quote	No quote
19	ATLC 5.875 11/30/35	COMPUCREDIT HLDGS CORP NOTE 5.875%11/3CUSIP 20478NAD2	1.53%	-	13,150,000	$5.39M	No quote	No quote
20	-	MANNKIND CORP NOTE 3.750%12/1CUSIP 56400PAA0	1.51%	Add +11.2%	9,900,000	$5.33M	No quote	No quote
21	ODP	OFFICE DEPOT INC COM	1.43%	-	2,348,501	$5.05M	No quote	No quote
22	CHT	CHUNGHWA TELECOM CO LTD SPON ADR NEW11	1.24%	-	132,088	$4.4M	No quote	No quote
23	MEG	MEDIA GEN INC CL A	1.01%	Reduce -7.4%	879,182	$3.58M	No quote	No quote
24	SKM	SK TELECOM LTD SPONSORED ADR	0.65%	-	170,000	$2.31M	No quote	No quote
25	-	LEVEL 3 COMMUNICATIONS INC NOTE 6.500%10/0CUSIP 52729NBR0	0.50%	-	1,470,000	$1.78M	No quote	No quote
26	UTSI	UTSTARCOM HOLDINGS CORP USD ORD SHS	0.49%	New	1,247,051	$1.72M	No quote	No quote
27	QXM	QIAO XING MOBILE COMM CO LTD SHS	0.45%	Add +116.3%	1,584,397	$1.58M	No quote	No quote
28	SYA	SYMETRA FINL CORP COM	0.45%	-	174,000	$1.58M	No quote	No quote
29	RYAAY	RYANAIR HLDGS PLC SPONSORED ADR	0.21%	-	27,000	$752K	$27.85	No quote
30	BP	BP PLC SPONSORED ADR	0.12%	-	10,000	$427K	$42.70	No quote
31	CYD	CHINA YUCHAI INTL LTD COM	0.10%	Add +0.4%	25,537	$352K	$13.78	No quote
32	VOD	VODAFONE GROUP PLC NEW SPONS ADR NEW	0.08%	-	10,000	$280K	No quote	No quote
33	NOK	NOKIA CORP SPONSORED ADR	0.04%	-	30,000	$145K	$4.83	No quote
37	UTSI	UTSTARCOM INC COM	-	Sold	0	$0	No quote	No quote
36	MNKD	MANNKIND CORP COM	-	Sold	0	$0	No quote	No quote
35	GCI	GANNETT INC COM	-	Sold	0	$0	No quote	No quote
34	CRYP	CRYPTOLOGIC LIMITED SHS	-	Sold	0	$0	No quote	No quote