Insights into the Investment Moves of a Renowned Value Investor
Francis Chou (Trades, Portfolio), the seasoned fund manager behind Chou America Mutual Funds, has once again demonstrated his adeptness in value investing with his latest 13F filing for the third quarter of 2024. Arriving in Canada with just $200 at the age of 20, Chou's journey from a telephone repairman to a respected figure in the investment world is nothing short of inspirational. His investment philosophy, deeply rooted in the principles of Benjamin Graham, focuses on long-term value rather than short-term market fluctuations, emphasizing the importance of a strong balance sheet, cash flow, and management quality in investment selections.
Summary of New Buys
During the third quarter of 2024, Francis Chou (Trades, Portfolio) made notable additions to his portfolio by acquiring new stocks:
- Occidental Petroleum Corp (OXY, Financial) was the standout addition with 200,000 shares, making up 6.46% of the portfolio, valued at $10.31 million.
- He also invested in Occidental Petroleum Corp (OXY.WS, Financial) with 68,000 shares, which represented about 1.27% of the portfolio, totaling approximately $2.02 million.
Key Position Reductions
Adjustments were also made in existing holdings, with reductions in two stocks:
- Hertz Global Holdings Inc (HTZWW, Financial) saw a reduction of 50,106 shares, decreasing its share count by 20.69% and impacting the portfolio by -0.09%. The stock had an average trading price of $0 during the quarter, with a return of 0.00% over the past three months and year-to-date.
- Ryanair Holdings PLC (RYAAY, Financial) was slightly trimmed by 1 share, resulting in a negligible reduction percentage and no significant impact on the portfolio. The stock's average price during the quarter was $43.45, with a 12.98% return over the past three months and a -12.81% year-to-date performance.
Portfolio Overview
As of the third quarter of 2024, Francis Chou (Trades, Portfolio)'s investment portfolio comprised 33 stocks. The major holdings included 38.97% in Berkshire Hathaway Inc (BRK.A, Financial), 8.63% in Alphabet Inc (GOOG, Financial), 6.46% in Occidental Petroleum Corp (OXY, Financial), 6.42% in Apple Inc (AAPL, Financial), and 6.04% in Synchrony Financial (SYF, Financial). These investments are predominantly spread across seven industries: Financial Services, Communication Services, Energy, Technology, Consumer Cyclical, Industrials, and Basic Materials.
This strategic distribution highlights Chou's focus on sectors that offer robust growth potential and align with his value investing criteria. The significant new investment in Occidental Petroleum Corp underscores his confidence in the energy sector, particularly in a time of global economic adjustments and evolving market dynamics.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
