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Francis Chou13F | |
| Chou Associates Management | |
| Last update 2024-11-08 | 33 Stocks (2 new) |
| Value $160.00 Mil | Turnover 8 % |
| Portfolio Report | |
Francis Chou Profile
Francis Chou, the fund manager of Chou America Mutual Funds, has been managing the Chou Funds in Canada since 1986. Chou's experience is an amazing success story of value investing. He came to Canada in 1976 at age 20 with $200 in his pocket. Without a college degree, he could only work on blue collar jobs. Finally, he landed a job at Bell Canada as a telephone repairman. During that time, he was introduced to the books of Benjamin Graham.
In 1981, together with six of his fellow telephone repairmen, Chou started an investment club with $51,000. He left Bell Canada in 1984 and became a retail analyst at GW Asset Management, where he met Prem Watsa, the future Fairfax CEO. He turned the investment club into the Chou Associates Fund in 1986, and the rest is history.
In 1981, together with six of his fellow telephone repairmen, Chou started an investment club with $51,000. He left Bell Canada in 1984 and became a retail analyst at GW Asset Management, where he met Prem Watsa, the future Fairfax CEO. He turned the investment club into the Chou Associates Fund in 1986, and the rest is history.
Francis Chou Investing Philosophy
When asked about what the most important things are for him in investing, Chou said: "Buy bargains. Get the returns slowly. Think independently. Don't be afraid of what other people are saying."
The investment process followed in selecting equity investments for the Funds is a value-oriented approach that involves a detailed analysis of the strengths of individual companies, with much less emphasis on short-term market factors. Far greater importance is placed upon an assessment of a company's balance sheet, cash flow characteristics, profitability, industry position, special strengths, future growth potential and management ability.
The investment process followed in selecting equity investments for the Funds is a value-oriented approach that involves a detailed analysis of the strengths of individual companies, with much less emphasis on short-term market factors. Far greater importance is placed upon an assessment of a company's balance sheet, cash flow characteristics, profitability, industry position, special strengths, future growth potential and management ability.
Francis Chou Top Holdings of 2024-09-30
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| Ticker | | Company | Shares | Value ($1000) | Shares Change % | Weighting % | Trade Impact % | % of Shares outstanding | 3M Change % | YTD Change % | Market Cap $Mil | Industry |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRK.A | Berkshire Hathaway Inc | 90 | 62206.210 | 0% | 38.970 | 0% | 0.010 | +7.24% | +28.24% | 999724.216 | Insurance | |
GOOG | Alphabet Inc | 82,390 | 13774.780 | 0% | 8.630 | 0% | 0.000 | +9.92% | +27.94% | 2191538.690 | Interactive Media | |
OXY | Occidental Petroleum Corp | 200,000 | 10308.000 | New Holding | 6.460 | +6.46% | 0.020 | -13.30% | -14.39% | 47254.460 | Oil & Gas | |
AAPL | Apple Inc | 44,000 | 10252.000 | 0% | 6.420 | 0% | 0.000 | +6.64% | +18.46% | 3430687.188 | Hardware | |
SYF | Synchrony Financial | 193,202 | 9636.920 | 0% | 6.040 | 0% | 0.050 | +40.03% | +70.77% | 24836.278 | Credit Services | |
ALLY | Ally Financial Inc | 225,525 | 8026.440 | 0% | 5.030 | 0% | 0.070 | -6.27% | +10.95% | 11445.087 | Credit Services | |
STLA | Stellantis NV | 456,388 | 6412.250 | 0% | 4.020 | 0% | 0.020 | -13.66% | -38.57% | 38837.410 | Vehicles & Parts | |
NAVI | Navient Corp | 264,245 | 4119.580 | 0% | 2.580 | 0% | 0.250 | +4.40% | -16.44% | 1619.041 | Credit Services | |
POOL | Pool Corp | 10,636 | 4007.650 | 0% | 2.510 | 0% | 0.030 | +6.60% | -5.67% | 14178.728 | Industrial Distribution | |
C | Citigroup Inc | 57,695 | 3611.710 | 0% | 2.260 | 0% | 0.000 | +19.38% | +38.38% | 129797.503 | Banks |
Francis Chou's Historical Top Holdings Breakdowns
Francis Chou's Top Stock Picks
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| Ticker | | Company | Date | Action | Impact % | Price Range | Price | Price Change from Avrg% | Comment | Current Shares | Share Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
OXY | Occidental Petroleum Corp | 2024-09-30 | New Buy | +6.46% | 49.91 ($57.06) 63.73 | $50.53 | -11.44% | New holding | 200,000 | 200,000 | |
RYAAY | Ryanair Holdings PLC | 2024-09-30 | Reduce | 0% | 38.01 ($43.45) 48.58 | $45.68 | 5.13% | Reduce -0.01% | 5,937 | -1 | |
GOOG | Alphabet Inc | 2024-06-30 | New Buy | +10.79% | 151.94 ($170.1) 186.86 | $179.86 | 5.74% | New holding | 82,390 | 82,390 | |
BHC | Bausch Health Companies Inc | 2024-06-30 | Sold Out | -8.70% | 6.1 ($7.57) 10.41 | $9.34 | 23.38% | Sold Out | 0 | -715,000 | |
AAPL | Apple Inc | 2024-06-30 | New Buy | +6.62% | 165 ($186.49) 216.67 | $226.96 | 21.70% | New holding | 44,000 | 44,000 | |
STLA | Stellantis NV | 2024-06-30 | Add | +6.04% | 19.77 ($23.16) 28.24 | $13.40 | -42.14% | Add 1421.29% | 456,388 | 426,388 | |
BRK.A | Berkshire Hathaway Inc | 2024-06-30 | Add | +4.37% | 598160 ($616494) 634030 | $695,878.30 | 12.88% | Add 12.5% | 90 | 10 | |
SYF | Synchrony Financial | 2024-06-30 | Add | +2.47% | 39.68 ($43.41) 47.19 | $63.79 | 46.95% | Add 61% | 193,202 | 73,202 | |
POOL | Pool Corp | 2024-06-30 | New Buy | +2.33% | 307.33 ($362.13) 401.3 | $372.58 | 2.89% | New holding | 10,636 | 10,636 | |
ALLY | Ally Financial Inc | 2024-06-30 | Add | +1.98% | 35.96 ($39.02) 41.1 | $37.56 | -3.74% | Add 44.86% | 225,525 | 69,839 |
Francis Chou Total Holding History ($B)
Francis Chou's Asset Allocation
Francis Chou Past Portfolios
| Portfolio Date | Number of Stocks | New Stocks | Total Value ($Mil) | Q/Q Turnover |
|---|---|---|---|---|
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Francis Chou's Hypothetical Growth since 2024-09-30
Francis Chou's Yearly Returns
| Year | Portfolio % | % | Excess Gain % |
|---|
Francis Chou's Holdings Heat Map
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Francis Chou's Holdings Bubble Chart
Francis Chou News
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