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
- +2.05%
- 1-year
- +14.32%
- 3-year
- +44.37%
- 5-year
- +26.27%
- 3-year vs S&P 500
- -28.02%
- 5-year vs S&P 500
- -46.96%
- 5-year top 5
- +34.71%
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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Live quotes available for 12 of 28 rows. Rows without a quote are marked unavailable.
| 1 | RFP | RESOLUTE FST PRODS INC | 18.23% | Reduce -0.5% | 4,571,960 | $47.32M | No quote | No quote |
| 2 | BRK-A | BERKSHIRE HATHAWAY INC DEL | 16.30% | - | 150 | $42.31M | $282040.00 | No quote |
| 3 | VRX | VALEANT PHARMACEUTICALS INTL | 14.76% | - | 1,648,992 | $38.32M | No quote | No quote |
| 4 | WFCWS | WELLS FARGO & CO NEW | 8.46% | - | 997,500 | $21.97M | No quote | No quote |
| 5 | GS | GOLDMAN SACHS GROUP INC | 6.37% | - | 75,000 | $16.54M | $220.57 | No quote |
| 6 | SNY | SANOFI | 6.32% | - | 410,000 | $16.4M | $40.01 | No quote |
| 7 | C | CITIGROUP INC | 5.41% | - | 210,000 | $14.05M | $66.92 | No quote |
| 8 | JPMWS | JPMORGAN CHASE & CO | 4.08% | - | 166,977 | $10.59M | No quote | No quote |
| 9 | DVA | DAVITA INC | 3.76% | New | 140,743 | $9.77M | $69.44 | No quote |
| 10 | MBI | MBIA INC | 3.76% | - | 1,080,797 | $9.77M | $9.04 | No quote |
| 11 | ENDPQ | ENDO INTL PLC | 3.20% | - | 880,000 | $8.3M | No quote | No quote |
| 12 | BB | BLACKBERRY LTD | 1.97% | - | 529,040 | $5.1M | $9.65 | No quote |
| 13 | NOK | NOKIA CORP | 1.44% | Reduce -23.5% | 650,000 | $3.74M | $5.75 | No quote |
| 14 | SHOS | SEARS HOMETOWN & OUTLET STOR | 1.07% | - | 1,322,209 | $2.78M | No quote | No quote |
| 15 | SHLD | SEARS HLDGS CORP | 1.03% | - | 1,131,610 | $2.68M | No quote | No quote |
| 16 | BACWSA | BANK AMER CORP | 0.94% | - | 149,476 | $2.44M | No quote | No quote |
| 17 | SAVE | SPIRIT AIRLS INC | 0.70% | New | 50,000 | $1.82M | No quote | No quote |
| 18 | CYD | CHINA YUCHAI INTL LTD | 0.61% | - | 73,364 | $1.59M | $21.70 | No quote |
| 19 | PKX | POSCO | 0.60% | - | 21,000 | $1.56M | No quote | No quote |
| 20 | ASCMA | ASCENT CAP GROUP INC | 0.33% | - | 306,000 | $860K | No quote | No quote |
| 21 | ALGT | ALLEGIANT TRAVEL CO | 0.23% | New | 4,317 | $600K | $138.99 | No quote |
| 22 | RYAAY | RYANAIR HLDGS PLC | 0.20% | - | 4,575 | $523K | $114.32 | No quote |
| 23 | TEVA | TEVA PHARMACEUTICAL INDS LTD | 0.14% | - | 15,000 | $365K | $24.33 | No quote |
| 24 | OSTK | OVERSTOCK COM INC DEL | 0.09% | - | 6,650 | $224K | No quote | No quote |
| 25 | SD | SANDRIDGE ENERGY INC | - | Sold | 0 | $0 | No quote | No quote |
Options positions
Put = right to sell at strike (a bearish bet). Call = right to buy at strike (bullish via leverage). The notional column shows the underlying market value reported to the SEC, not the option premium paid - these don't add to the long-equity % portfolio above.
| 1 | RFP | RESOLUTE FST PRODS INCCOM | CALL | New | 150,000 | $1.55M |
Other instruments
Bonds, warrants, or non-share principal positions reported alongside the equity portfolio.
| 1 | ATLC 5.875 11/30/35 | COMPUCREDIT HLDGS CORPNOTE 5.875%11/3 | OTHER | 5,300,000 | $2.66M |
| 2 | ASCMA | ASCENT CAP GROUP INCNOTE 4.000% 7/1 | OTHER | 0 | $0 |