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 8 of 36 rows. Rows without a quote are marked unavailable.


1	BRK/A	BERKSHIRE HATHAWAY INC DEL CL ACUSIP 084670108	10.96%	-	300	$39.81M	No quote	No quote
2	RFP	RESOLUTE FST PRODS INC COM	10.96%	-	3,062,268	$39.81M	No quote	No quote
3	SHLD	SEARS HLDGS CORP COM	10.44%	-	683,700	$37.94M	No quote	No quote
4	WPI	WATSON PHARMACEUTICALS INC COM	7.86%	Reduce -37.4%	335,400	$28.56M	No quote	No quote
5	OSTK	OVERSTOCK COM INC DEL COM	6.59%	-	2,310,209	$23.93M	No quote	No quote
6	GS	GOLDMAN SACHS GROUP INC COM	5.16%	-	165,000	$18.76M	$113.68	No quote
7	SNY	SANOFI SPONSORED ADR	4.86%	-	410,000	$17.66M	$43.06	No quote
8	S	SPRINT NEXTEL CORP COM SER 1	4.75%	Reduce -49.0%	3,123,200	$17.24M	No quote	No quote
9	BACWSA	BANK OF AMERICA CORPORATION W EXP 01/16/201	4.22%	-	4,341,462	$15.33M	No quote	No quote
10	DELL	DELL INC COM	4.07%	New	1,500,000	$14.79M	$9.86	No quote
11	C	CITIGROUP INC COM NEW	3.69%	-	410,000	$13.42M	$32.72	No quote
12	NOK	NOKIA CORP SPONSORED ADR	3.56%	-	5,030,000	$12.93M	$2.57	No quote
13	JPMWS	JPMORGAN CHASE & CO W EXP 10/28/201	3.19%	-	1,126,347	$11.59M	No quote	No quote
14	FSR	FLAGSTONE REINSURANCE HOLDIN COM	2.89%	Reduce -18.5%	1,222,136	$10.5M	No quote	No quote
15	WFCWS	WELLS FARGO & CO NEW W EXP 10/28/201	2.72%	-	997,500	$9.87M	No quote	No quote
16	PTGI	PRIMUS TELECOMMUNICATIONS GR COM	1.90%	-	451,022	$6.89M	No quote	No quote
17	-	MANNKIND CORP NOTE 3.750%12/1CUSIP 56400PAA0	1.65%	-	9,900,000	$5.98M	No quote	No quote
18	ATLC 5.875 11/30/35	COMPUCREDIT HLDGS CORP NOTE 5.875%11/3CUSIP 20478NAD2	1.41%	-	13,150,000	$5.11M	No quote	No quote
19	MEG	MEDIA GEN INC CL A	1.17%	-	823,771	$4.27M	No quote	No quote
20	VRX	VALEANT PHARMACEUTICALS INTL COM	1.16%	-	76,377	$4.22M	No quote	No quote
21	CHT	CHUNGHWA TELECOM CO LTD SPON ADR NEW11	1.15%	-	132,088	$4.19M	No quote	No quote
22	ODP	OFFICE DEPOT INC COM	0.92%	-	1,303,301	$3.34M	No quote	No quote
23	RSH	RADIOSHACK CORP COM	0.85%	-	1,294,071	$3.08M	No quote	No quote
24	GPS	GAP INC DEL COM	0.82%	Reduce -37.4%	83,590	$2.99M	No quote	No quote
25	SKM	SK TELECOM LTD SPONSORED ADR	0.68%	-	170,000	$2.47M	No quote	No quote
26	-	LEVEL 3 COMMUNICATIONS INC NOTE 6.500%10/0CUSIP 52729NBR0	0.58%	-	1,470,000	$2.1M	No quote	No quote
27	SYA	SYMETRA FINL CORP COM	0.42%	Reduce -28.7%	124,000	$1.53M	No quote	No quote
28	RIMM	RESEARCH IN MOTION LTD COM	0.41%	New	200,000	$1.5M	No quote	No quote
29	UTSI	UTSTARCOM HOLDINGS CORP USD ORD SHS	0.35%	-	1,247,051	$1.28M	No quote	No quote
30	RYAAY	RYANAIR HLDGS PLC SPONSORED ADR	0.24%	-	27,000	$871K	$32.26	No quote
31	BP	BP PLC SPONSORED ADR	0.12%	-	10,000	$424K	$42.40	No quote
32	CYD	CHINA YUCHAI INTL LTD COM	0.09%	-	25,537	$326K	$12.77	No quote
33	OSH	ORCHARD SUPPLY HARDWARE STOR CL A	0.09%	-	21,845	$316K	No quote	No quote
34	VOD	VODAFONE GROUP PLC NEW SPONS ADR NEW	0.08%	-	10,000	$285K	No quote	No quote
36	USG	USG CORP COM NEW	-	Sold	0	$0	No quote	No quote
35	-	LEVEL 3 COMMUNICATIONS INC NOTE 15.000% 1/1CUSIP 52729NBM1	-	Sold	0	$0	No quote	No quote