Chou Associates Management Inc.

Superinvestor · Francis Chou

CIK

1389403

Location

TORONTO, A6

Portfolio Value

Small $125,284,410

Diversification

Diversified

Filing Date

Global Rank

#5,077 / 8,440 ▲ 305

Top Industry

Credit Services 25.2%

3Y Alpha vs SPY

-10.8%

Period ended 2 months ago

Filed May 14, 2026 · 30d

25 quarters · since Mar 2020

Portfolio Concentration

28 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

16.2%

+0.4 pts

Top 5

52.7%

−7.2 pts

Top 10

78.7%

−5.7 pts

HHI

790

Diversified−110

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	45.1%	$56,510,904	12
Energy	16.8%	$20,999,100	2
Consumer Cyclical	16.3%	$20,473,223	5
Technology	9.3%	$11,675,825	2
Communication Services	7.5%	$9,453,314	1
Industrials	2.7%	$3,418,189	4
Consumer Defensive	1.2%	$1,563,055	1
Basic Materials	1.0%	$1,190,800	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
JEF	Jefferies Financial Group Inc.	+138,250	149,237	$6,159,010
PYPL	PayPal Holdings, Inc.	+126,400	167,400	$7,571,502
SYF	Synchrony Financial	+7,500	223,202	$15,182,200
AGO	Assured Guaranty Ltd	+6,000	16,990	$1,384,345
No positions match the current search.

Trimmed

Positions the filer reduced

No qualifying positions this quarter.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
KHC	Kraft Heinz Co	69,500	$1,563,055
BRK-B	Berkshire Hathaway Inc	3,100	$1,485,520
HPQ	Hp Inc	26,500	$509,065
ATKR	Atkore Inc.	8,400	$494,844
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
VTS	Vitesse Energy, Inc.	1,293	$24,903
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

28 positions · $125,284,410 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Est. Price	% of Portfolio
OXY	Occidental Petroleum Corp /De/ Energy	Held	313,000	0	$20,345,000	+58.1%	$50.29	16.24%
SYF	Synchrony Financial Financial Services	Added	223,202	+7,500	$15,182,200	−15.6%	$72.72	12.12%
AAPL	Apple Inc. Technology	Held	44,000	0	$11,166,760	−6.6%	$260.25	8.91%
STLA	Stellantis N.V. Consumer Cyclical	Held	1,394,194	0	$9,884,835	−34.9%	$8.38	7.89%
SIRI	Sirius Xm Holdings Inc. Communication Services	Held	409,589	0	$9,453,314	+15.4%	$21.49	7.55%
ALLY	Ally Financial Inc. Financial Services	Held	225,525	0	$8,847,345	−13.4%	$41.17	7.06%
PYPL	PayPal Holdings, Inc. Financial Services	Added	167,400	+126,400	$7,571,502	+216.3%	$48.26	6.04%
JEF	Jefferies Financial Group Inc. Financial Services	Added	149,237	+138,250	$6,159,010	+804.6%	$51.90	4.92%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Held	41,900	0	$5,256,774	−14.4%	$150.32	4.20%
WFC	Wells Fargo & Company/Mn Financial Services	Held	59,542	0	$4,740,138	−14.6%	$85.89	3.78%
GM	General Motors Co Consumer Cyclical	Held	52,000	0	$3,874,000	−8.4%	$79.50	3.09%
C	Citigroup Inc Financial Services	Held	32,695	0	$3,707,939	−2.8%	$113.88	2.96%
CASH	Pathward Financial, Inc. Financial Services	Held	27,389	0	$2,443,920	+25.7%	$87.07	1.95%
BAC	Bank Of America Corp /De/ Financial Services	Held	50,000	0	$2,437,500	−11.4%	$51.60	1.95%
POOL	Pool Corp Industrials	Held	10,636	0	$2,151,981	−11.5%	$235.72	1.72%
MBI	Mbia Inc Financial Services	Held	321,000	0	$1,897,110	−17.5%	$6.37	1.51%
KHC	Kraft Heinz Co Consumer Defensive	NEW	69,500	NEW	$1,563,055	NEW	$23.52	1.25%
BRK-B	Berkshire Hathaway Inc Financial Services	NEW	3,100	NEW	$1,485,520	NEW	$490.90	1.19%
AGO	Assured Guaranty Ltd Financial Services	Added	16,990	+6,000	$1,384,345	+40.2%	$85.35	1.10%
MEOH	Methanex Corp Basic Materials	Held	20,000	0	$1,190,800	+49.9%	$50.32	0.95%
CYD	China Yuchai International Ltd Consumer Cyclical	Held	23,364	0	$899,514	+8.5%	$44.62	0.72%
MCO	Moodys Corp /De/ Financial Services	Held	1,500	0	$654,375	−14.6%	$473.05	0.52%
IMO	Imperial Oil Ltd Energy	Held	5,000	0	$654,100	+51.6%	$112.19	0.52%
MGA	Magna International Inc Consumer Cyclical	Held	10,000	0	$558,100	+4.7%	$57.11	0.45%
HPQ	Hp Inc Technology	NEW	26,500	NEW	$509,065	NEW	$19.44	0.41%
ATKR	Atkore Inc. Industrials	NEW	8,400	NEW	$494,844	NEW	$65.02	0.39%
LPX	Louisiana-Pacific Corp Industrials	Held	5,886	0	$428,206	−9.9%	$84.23	0.34%
RYAAY	Ryanair Holdings PLC Industrials	Held	5,937	0	$343,158	−19.9%	$66.01	0.27%