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 13 of 19 rows. Rows without a quote are marked unavailable.


1	BHC	BAUSCH HEALTH COS INC	29.86%	Reduce -1.3%	1,538,992	$27.15M	$17.64
2	BRK/A	BERKSHIRE HATHAWAY INC DELCUSIP 084670108	28.35%	Reduce -33.3%	100	$25.79M	No quote	No quote
3	RFP	RESOLUTE FST PRODS INC	10.23%	-	4,571,960	$9.31M	No quote	No quote
4	WFC	WELLS FARGO CO NEW	5.69%	-	209,542	$5.18M	$24.70
5	MBI	MBIA INC	5.02%	-	652,531	$4.56M	$6.99
6	GS	GOLDMAN SACHS GROUP INC	4.19%	-	20,000	$3.81M	$190.65
7	C	CITIGROUP INC	3.67%	-	67,695	$3.34M	$49.29
8	JPM	JPMORGAN CHASE & CO	3.42%	-	34,275	$3.11M	$90.74
9	BB	BLACKBERRY LTD	2.22%	Reduce -18.9%	429,040	$2.02M	$4.70
10	DVA	DAVITA INC	1.91%	Reduce -30.5%	22,743	$1.74M	$76.33
11	CYD	CHINA YUCHAI INTL LTD	1.12%	-	73,364	$1.02M	$13.88
13	SAVE	SPIRIT AIRLS INC	0.94%	-	50,000	$859K	No quote	No quote
12	MGA	MAGNA INTL INC	0.94%	-	20,000	$859K	$42.95
14	PKX	POSCO	0.82%	-	21,000	$750K	No quote	No quote
15	ALGT	ALLEGIANT TRAVEL CO	0.50%	-	4,317	$455K	$105.40
16	BAC	BANK AMER CORP	0.46%	-	18,376	$421K	$22.91
17	FCAU	FIAT CHRYSLER AUTOMOBILES N	0.33%	-	30,000	$296K	No quote	No quote
18	RYAAY	RYANAIR HLDGS PLC	0.32%	-	4,575	$293K	$64.04
19	SNY	SANOFI	-	Sold	0	$0	No quote	No quote