Francis Chou — Chou AssociatesSuperinvestor
About Francis Chou — Chou Associates’s 13F portfolio
Francis Chou — Chou Associates is an institutional investment manager that discloses its US-listed holdings each quarter through an SEC Form 13F filing. As of , Francis Chou — Chou Associates reported $210.3M across 31 US-listed positions (). Its largest position is BERKSHIRE HATHAWAY INC DEL (BRK-A) at 29% of the reported book, and its ten biggest holdings make up 81% of the portfolio. Browse every manager in the fund managers directory, or see the legendary investors we track on the superinvestors page.
| # | Stock | Price | % of portfolio | Shares | Value |
|---|---|---|---|---|---|
| 1 |  BRK-A BERKSHIRE HATHAWAY INC DEL | — — | 29% | 86 | $61.8M |
| 2 |  GOOG ALPHABET INC | — — | 9.9% | 72K | $20.8M |
| 3 |  OXY OCCIDENTAL PETE CORP | — — | 9.7% | 313K | $20.3M |
| 4 |  SYF SYNCHRONY FINANCIAL | — — | 7.2% | 223K | $15.2M |
| 5 |  AAPL APPLE INC | — — | 5.3% | 44K | $11.2M |
| 6 |  STLA STELLANTIS N.V | — — | 4.7% | 1.4M | $9.9M |
| 7 |  SIRI SIRIUSXM HOLDINGS INC | — — | 4.5% | 410K | $9.5M |
| 8 |  ALLY ALLY FINL INC | — — | 4.2% | 226K | $8.8M |
| 9 |  PYPL PAYPAL HLDGS INC | — — | 3.6% | 167K | $7.6M |
| 10 |  JEF JEFFERIES FINL GROUP INC | — — | 2.9% | 149K | $6.2M |
| 11 |  BABA ALIBABA GROUP HLDG LTD | — — | 2.5% | 42K | $5.3M |
| 12 |  WFC WELLS FARGO CO NEW | — — | 2.3% | 60K | $4.7M |
| 13 |  GM GENERAL MTRS CO | — — | 1.8% | 52K | $3.9M |
| 14 |  C CITIGROUP INC | — — | 1.8% | 33K | $3.7M |
| 15 | — BRAEMAR HOTELS & RESORTS INC | — — | 1.2% | 2.5M | $2.5M |
| 16 |  CASH PATHWARD FINANCIAL INC | — — | 1.2% | 27K | $2.4M |
| 17 |  BAC BANK AMERICA CORP | — — | 1.2% | 50K | $2.4M |
| 18 |  POOL POOL CORP | — — | 1.0% | 11K | $2.2M |
| 19 |  MBI MBIA INC | — — | 0.9% | 321K | $1.9M |
| 20 |  KHC KRAFT HEINZ CO | — — | 0.7% | 70K | $1.6M |
| 21 |  BRK/B BERKSHIRE HATHAWAY INC DEL | — — | 0.7% | 3K | $1.5M |
| 22 |  AGO ASSURED GUARANTY LTD | — — | 0.7% | 17K | $1.4M |
| 23 |  MEOH METHANEX CORP | — — | 0.6% | 20K | $1.2M |
| 24 |  CYD CHINA YUCHAI INTL LTD | — — | 0.4% | 23K | $900K |
| 25 |  IMO IMPERIAL OIL LTD | — — | 0.3% | 5K | $655K |
Showing 1–25 of 31 positions on this page reported in this 13F.
Tiles are sized by portfolio weight and coloured by sector; the “est.” figure on each tile is the estimated dividend- and split-adjusted return since the first reported quarter — not the manager’s profit or cost basis.
“Est. return” = estimated dividend/split-adjusted return since the first reported quarter — not the manager’s profit or cost basis.
- Financial Services56%
- Communication Services14%
- Consumer Cyclical9.7%
- Energy9.7%
- Technology5.6%
- Unclassified2.2%
- Industrials1.6%
- Consumer Defensive0.7%
- Basic Materials0.6%
How this return is calculated
Estimated dividend- and split-adjusted return from the end of the first consecutive reported quarter in which the current holding appears in Bullish Whales’ 13F history, through the manager’s latest reported quarter. Current disclosed holdings only. Start dates differ by holding, changes in position size are not modeled, and positions no longer reported are excluded. Not the manager’s cost basis, purchase date, realized profit or loss, live performance, or portfolio performance.
- AddedSYFSYNCHRONY FINANCIAL+3.5%$15.2M
- AddedPYPLPAYPAL HLDGS INC+308%$7.6M
- AddedJEFJEFFERIES FINL GROUP INC+1258%$6.2M
- New—BRAEMAR HOTELS & RESORTS INC—$2.5M
- NewKHCKRAFT HEINZ CO—$1.6M
- NewBRK/BBERKSHIRE HATHAWAY INC DEL—$1.5M
- AddedAGOASSURED GUARANTY LTD+54.6%$1.4M
- NewHPQHP INC—$509K
- NewATKRATKORE INC—$495K
- SoldVTSVITESSE ENERGY INC−100%—
- SoldHTZWWHERTZ GLOBAL HLDGS INC−100%—
Reading Francis Chou — Chou Associates’s 13F portfolio
Francis Chou — Chou Associates’s $210.3M 13F book is spread across 31 reported positions and is highly concentrated — its ten largest positions alone are 81% of the portfolio. A book this concentrated means a small group of names drives most of its performance. Its five largest positions are BRK-A, GOOG, OXY, SYF and AAPL, led by BERKSHIRE HATHAWAY INC DEL (BRK-A) at 29% of the portfolio. The heaviest sector exposure is Financial Services (56%), then Communication Services (14%).
What Francis Chou — Chou Associates changed last quarter
Between 2025-12-31 and Q1 2026, Francis Chou — Chou Associates was a net buyer: it opened 5 new positions and added to 4 more, while trimming 0 and closing 2 outright. Against a 31-name book, that is high turnover, pointing to an active reshuffle of the book. Its largest new or increased position was SYNCHRONY FINANCIAL (SYF), and its biggest reduction was VITESSE ENERGY INC (VTS).
What a 13F does and doesn’t reveal
A 13F captures only Francis Chou — Chou Associates’s long positions in US-listed stocks at a single quarter-end, so it is best read as a lagged snapshot rather than a live portfolio. It won’t show shorts, cash, bonds, or holdings listed outside the US, and it never reveals the price paid or the reasoning behind a trade. The signal is in the pattern over time: which names Francis Chou — Chou Associates is building up, trimming, or exiting, and how concentrated the book stays from quarter to quarter.
Frequently asked questions
What is an SEC 13F filing?
A Form 13F is a report that every institutional investment manager with at least $100 million in US-listed securities must file with the SEC within 45 days of each quarter's end. It lists the manager's long positions in US-listed stocks and certain options, with the share count and market value of each. Francis Chou — Chou Associates's profile on this page is built directly from those filings.
How current is the 13F data on Francis Chou — Chou Associates's page?
It reflects Francis Chou — Chou Associates's most recently filed 13F, currently the quarter ending Q1 2026. Because managers have up to 45 days after a quarter closes to file, a 13F is always a slightly lagged view rather than a live portfolio. When Francis Chou — Chou Associates files its next quarterly report, this page refreshes automatically.
Can I see Francis Chou — Chou Associates's complete list of holdings?
This page highlights Francis Chou — Chou Associates's largest positions rather than all 31 names in the filing. The complete, position-by-position 13F is public and available from the SEC's EDGAR database under Francis Chou — Chou Associates's filings.
Does a 13F show everything Francis Chou — Chou Associates owns?
No. A 13F only covers long positions in US-listed stocks and certain options. It leaves out short positions, cash, bonds, commodities, foreign-listed stocks, and private holdings, so it is a partial view of Francis Chou — Chou Associates's book rather than its full strategy or total assets.
Is 13F data investment advice?
No. Everything here is educational. 13F positions are disclosed with a delay, cover only long US-listed holdings, and never explain why Francis Chou — Chou Associates made a trade or at what price. Treat it as a research lens, not a recommendation, and speak with a licensed financial advisor before making investment decisions.
Not investment advice. Holdings data comes from public SEC Form 13F filings, which are filed with a delay of up to 45 days and may be amended later. It describes historical, disclosed positions in US-listed securities only, meaning no shorts, cash, or foreign holdings, and it is not a recommendation. Always do your own research and speak with a licensed financial advisor before making investment decisions.