Francis Chou

Net buying

Chou Associates Management Inc. — managed by Francis Chou; US equity positions disclosed quarterly via SEC 13F

Data as of 2026-03-31 (filed 2026-05-14) · Source: SEC EDGAR

Portfolio value$210.3M（+4%）

Holdings31（+3）

Latest period2026-03-31

Top holdingBerkshire Hathaway Inc

Portfolio overview

Chou Associates Management Inc.'s most recent 13F filing, for the quarter ended 2026-03-31, reports 31 positions worth $210.3M. The top 5 holdings represent 61% of that value, a concentrated portfolio.

The single largest position is Berkshire Hathaway Inc at 29.4% of the portfolio, followed by Alphabet Inc at 9.9% and Occidental Pete Corp at 9.7%.

Against the prior quarter, Francis Chou opened 5 new positions, exited 2, added to 4, and trimmed 0. The largest new buy was Braemar Hotels & Resorts Inc. The most notable sale was the full exit from Vitesse Energy Inc.

Across all 8 quarters on file, Berkshire Hathaway Inc has appeared in every filing, as has Alphabet Inc. Berkshire Hathaway Inc currently ranks first by value.

A 13F is filed roughly 45 days after quarter-end and covers only long positions in US-listed equities, so it is a lagging and partial view of the portfolio. Source: SEC EDGAR.

High-conviction

Synchrony FinancialSYFBig new buy

Big add last quarter — 7.2% of the book.

Paypal Hldgs IncPYPLBig new buy

Big add last quarter — 3.6% of the book.

Berkshire Hathaway IncBRK.ACore · 8q

A core position held 8 quarters running.

Holdings

Security	Value	Shares	Weight (prev→now)
Berkshire Hathaway IncBRK.A	$61.8M	86	32.2% → 29.4%
Alphabet IncGOOG	$20.8M	72,390	11.3% → 9.9%
Occidental Pete CorpOXY	$20.3M	313,000	6.4% → 9.7%
Synchrony FinancialSYF	$15.2M	223,202	8.9% → 7.2% ▲
Apple IncAAPL	$11.2M	44,000	5.9% → 5.3%
Stellantis N.V	$9.9M	1,394,194	7.5% → 4.7%
Siriusxm Holdings IncSIRI	$9.5M	409,589	4.1% → 4.5%
Ally Finl IncALLY	$8.8M	225,525	5.1% → 4.2%
Paypal Hldgs IncPYPL	$7.6M	167,400	1.2% → 3.6% ▲
Jefferies Finl Group IncJEF	$6.2M	149,237	0.3% → 2.9% ▲
Alibaba Group Hldg LtdBABA	$5.3M	41,900	3.0% → 2.5%
Wells Fargo CoWFC	$4.7M	59,542	2.8% → 2.3%
General Mtrs CoGM	$3.9M	52,000	2.1% → 1.8%
Citigroup IncC	$3.7M	32,695	1.9% → 1.8%
Braemar Hotels & Resorts Inc	$2.5M	2,500,000	New · 1.2%
Pathward Financial IncCASH	$2.4M	27,389	1.0% → 1.2%
Bank America CorpBAC	$2.4M	50,000	1.4% → 1.2%
Pool CorpPOOL	$2.2M	10,636	1.2% → 1.0%
Mbia IncMBI	$1.9M	321,000	1.1% → 0.9%
Kraft Heinz CoKHC	$1.6M	69,500	New · 0.7%
Berkshire Hathaway IncBRK.B	$1.5M	3,100	New · 0.7%
Assured Guaranty Ltd	$1.4M	16,990	0.5% → 0.7% ▲
Methanex CorpMEOH	$1.2M	20,000	0.4% → 0.6%
China Yuchai Intl Ltd	$899,515	23,364	0.4% → 0.4%
Imperial Oil LtdIMO	$654,914	5,000	0.2% → 0.3%

Berkshire Hathaway IncBRK.A
Value$61.8MWeight (prev→now)32.2% → 29.4%
Alphabet IncGOOG
Value$20.8MWeight (prev→now)11.3% → 9.9%
Occidental Pete CorpOXY
Value$20.3MWeight (prev→now)6.4% → 9.7%
Synchrony FinancialSYF
Value$15.2MWeight (prev→now)8.9% → 7.2% ▲
Apple IncAAPL
Value$11.2MWeight (prev→now)5.9% → 5.3%
Stellantis N.V
Value$9.9MWeight (prev→now)7.5% → 4.7%
Siriusxm Holdings IncSIRI
Value$9.5MWeight (prev→now)4.1% → 4.5%
Ally Finl IncALLY
Value$8.8MWeight (prev→now)5.1% → 4.2%
Paypal Hldgs IncPYPL
Value$7.6MWeight (prev→now)1.2% → 3.6% ▲
Jefferies Finl Group IncJEF
Value$6.2MWeight (prev→now)0.3% → 2.9% ▲
Alibaba Group Hldg LtdBABA
Value$5.3MWeight (prev→now)3.0% → 2.5%
Wells Fargo CoWFC
Value$4.7MWeight (prev→now)2.8% → 2.3%
General Mtrs CoGM
Value$3.9MWeight (prev→now)2.1% → 1.8%
Citigroup IncC
Value$3.7MWeight (prev→now)1.9% → 1.8%
Braemar Hotels & Resorts Inc
Value$2.5MWeight (prev→now)New · 1.2%
Pathward Financial IncCASH
Value$2.4MWeight (prev→now)1.0% → 1.2%
Bank America CorpBAC
Value$2.4MWeight (prev→now)1.4% → 1.2%
Pool CorpPOOL
Value$2.2MWeight (prev→now)1.2% → 1.0%
Mbia IncMBI
Value$1.9MWeight (prev→now)1.1% → 0.9%
Kraft Heinz CoKHC
Value$1.6MWeight (prev→now)New · 0.7%
Berkshire Hathaway IncBRK.B
Value$1.5MWeight (prev→now)New · 0.7%
Assured Guaranty Ltd
Value$1.4MWeight (prev→now)0.5% → 0.7% ▲
Methanex CorpMEOH
Value$1.2MWeight (prev→now)0.4% → 0.6%
China Yuchai Intl Ltd
Value$899,515Weight (prev→now)0.4% → 0.4%
Imperial Oil LtdIMO
Value$654,914Weight (prev→now)0.2% → 0.3%

Showing top 25 of 31 positions

Exited this quarter (2)Vitesse Energy Inc、Hertz Global Hldgs Inc

Sources· SEC EDGAR 13F as of 2026-05-14

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