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.

Get email alerts when Francis Chou files a new 13F — sign in or create a free account.

Filing period

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

Live quotes available for 9 of 36 rows. Rows without a quote are marked unavailable.


1	BRK/A	BERKSHIRE HATHAWAY INC DEL CL ACUSIP 084670108	10.52%	-	300	$40.22M	No quote	No quote
2	RFP	RESOLUTE FST PRODS INC COM	9.95%	Reduce -6.1%	2,874,496	$38.06M	No quote	No quote
3	OSTK	OVERSTOCK COM INC DEL COM	8.65%	-	2,310,209	$33.06M	No quote	No quote
4	-	LEVEL 3 COMMUNICATIONS INC NOTE 15.000% 1/1CUSIP 52729NBM1	7.99%	New	30,250,000	$30.55M	No quote	No quote
5	WPI	WATSON PHARMACEUTICALS INC COM	7.54%	-	335,400	$28.84M	No quote	No quote
6	SHLD	SEARS HLDGS CORP COM	7.40%	-	683,700	$28.28M	No quote	No quote
7	DELL	DELL INC COM	6.62%	Add +66.7%	2,500,000	$25.33M	$10.13	No quote
8	GS	GOLDMAN SACHS GROUP INC COM	5.50%	-	165,000	$21.05M	$127.56	No quote
9	NOK	NOKIA CORP SPONSORED ADR	5.16%	Reduce -0.6%	5,000,000	$19.75M	$3.95	No quote
10	SNY	SANOFI SPONSORED ADR	5.08%	-	410,000	$19.43M	$47.38	No quote
11	C	CITIGROUP INC COM NEW	4.24%	-	410,000	$16.22M	$39.56	No quote
12	JPMWS	JPMORGAN CHASE & CO W EXP 10/28/201	3.49%	-	1,126,347	$13.36M	No quote	No quote
13	S	SPRINT NEXTEL CORP COM SER 1	3.15%	Reduce -32.0%	2,123,200	$12.04M	No quote	No quote
14	WFCWS	WELLS FARGO & CO NEW W EXP 10/28/201	2.61%	-	997,500	$9.98M	No quote	No quote
15	MBI	MBIA INC COM	2.22%	New	1,080,797	$8.48M	$7.85	No quote
16	-	MANNKIND CORP NOTE 3.750%12/1CUSIP 56400PAA0	1.64%	Reduce -10.1%	8,900,000	$6.28M	No quote	No quote
17	ATLC 5.875 11/30/35	COMPUCREDIT HLDGS CORP NOTE 5.875%11/3CUSIP 20478NAD2	1.38%	-	13,150,000	$5.26M	No quote	No quote
18	PTGI	PRIMUS TELECOMMUNICATIONS GR COM	1.28%	-	451,022	$4.9M	No quote	No quote
19	BACWSA	BANK OF AMERICA CORPORATION W EXP 01/16/201	1.19%	Reduce -80.7%	836,825	$4.56M	No quote	No quote
20	CHT	CHUNGHWA TELECOM CO LTD SPON ADR NEW11	1.12%	-	132,088	$4.27M	No quote	No quote
21	RSH	RADIOSHACK CORP COM	0.72%	-	1,294,071	$2.74M	No quote	No quote
22	RIMM	RESEARCH IN MOTION LTD COM	0.62%	-	200,000	$2.37M	No quote	No quote
23	-	LEVEL 3 COMMUNICATIONS INC NOTE 6.500%10/0CUSIP 52729NBR0	0.54%	-	1,470,000	$2.07M	No quote	No quote
24	SYA	SYMETRA FINL CORP COM	0.42%	-	124,000	$1.61M	No quote	No quote
25	MEG	MEDIA GEN INC CL A	0.25%	Reduce -73.5%	218,132	$938K	No quote	No quote
26	RYAAY	RYANAIR HLDGS PLC SPONSORED ADR	0.24%	-	27,000	$926K	$34.30	No quote
27	UTSI	UTSTARCOM HOLDINGS CORP USD ORD SHS	0.15%	Reduce -54.9%	562,779	$585K	No quote	No quote
28	BP	BP PLC SPONSORED ADR	0.11%	-	10,000	$416K	$41.60	No quote
29	CYD	CHINA YUCHAI INTL LTD COM	0.11%	-	25,537	$403K	$15.78	No quote
30	VOD	VODAFONE GROUP PLC NEW SPONS ADR NEW	0.07%	-	10,000	$252K	No quote	No quote
31	OSH	ORCHARD SUPPLY HARDWARE STOR CL A	0.04%	-	21,845	$162K	No quote	No quote
36	VRX	VALEANT PHARMACEUTICALS INTL COM	-	Sold	0	$0	No quote	No quote
35	SKM	SK TELECOM LTD SPONSORED ADR	-	Sold	0	$0	No quote	No quote
34	ODP	OFFICE DEPOT INC COM	-	Sold	0	$0	No quote	No quote
33	GPS	GAP INC DEL COM	-	Sold	0	$0	No quote	No quote
32	FSR	FLAGSTONE REINSURANCE HOLDIN COM	-	Sold	0	$0	No quote	No quote