Chou Associates Management 13F annual report
Chou Associates Management is an investment fund managing more than $139 billion ran by Francis Chou. There are currently 30 companies in Mr. Chou’s portfolio. The largest investments include Berkshire Hathaway and Alphabet Inc, together worth $70.2 billion.
$139 billion Assets Under Management (AUM)
As of 7th August 2024, Chou Associates Management’s top holding is 90 shares of Berkshire Hathaway currently worth over $55.1 billion and making up 39.6% of the portfolio value.
Relative to the number of outstanding shares of Berkshire Hathaway, Chou Associates Management owns more than approximately 0.1% of the company.
In addition, the fund holds 82,390 shares of Alphabet Inc worth $15.1 billion, whose value grew 12.5% in the past six months.
The third-largest holding is Apple Inc worth $9.27 billion and the next is Synchrony worth $9.12 billion, with 193,202 shares owned.
Currently, Chou Associates Management's portfolio is worth at least $139 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Chou Associates Management
The Chou Associates Management office and employees reside in Toronto, Ontario, Canada. According to the last 13-F report filed with the SEC, Francis Chou serves as the CEO at Chou Associates Management.
Recent trades
In the most recent 13F filing, Chou Associates Management revealed that it had opened a new position in
Alphabet Inc and bought 82,390 shares worth $15.1 billion.
This means they effectively own approximately 0.1% of the company.
Alphabet Inc makes up
100.0%
of the fund's Technology sector allocation and has grown its share price by 25.0% in the past year.
The investment fund also strengthened its position in Berkshire Hathaway by buying
10 additional shares.
This makes their stake in Berkshire Hathaway total 90 shares worth $55.1 billion.
Berkshire Hathaway soared 22.3% in the past year.
On the other hand, there are companies that Chou Associates Management is getting rid of from its portfolio.
Chou Associates Management closed its position in Bausch Health Cos Inc on 14th August 2024.
It sold the previously owned 715,000 shares for $7.76 billion.
One of the smallest hedge funds
The two most similar investment funds to Chou Associates Management are Tacita Capital Inc and Kampmann Melissa S. They manage $139 billion and $139 billion respectively.
Francis Chou investment strategy
Chou Associates Management’s portfolio is diversified across 8 sectors.
Currently, their heaviest sector is Finance — making up 53.5% of
the total portfolio value.
The fund focuses on investments in the United States as
40.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
37% of the total holdings value.
On the other hand, small-cap stocks make up only 3.3% of the portfolio.
The average market cap of the portfolio companies is close to $221 billion.
The complete list of Chou Associates Management trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Berkshire Hathaway Inc. |
12.50%
90
|
$55,101,666,000 | 39.62% |
| Alphabet Inc |
Opened
82,390
|
$15,111,974,000 | 10.87% |
| Apple Inc |
Opened
44,000
|
$9,267,280,000 | 6.66% |
| Synchrony Financial |
61.00%
193,202
|
$9,117,199,000 | 6.56% |
| Stellantis N.V |
1,421.29%
456,388
|
$9,059,301,000 | 6.51% |
| Ally Finl Inc |
44.86%
225,525
|
$8,946,573,000 | 6.43% |
| Bausch Health Cos Inc |
Closed
715,000
|
$7,755,048,000 | |
| Navient Corporation |
44.13%
264,245
|
$3,847,406,000 | 2.77% |
| Citigroup Inc |
No change
57,695
|
$3,661,323,000 | 2.63% |
| Wells Fargo Co New |
204.69%
59,542
|
$3,536,199,000 | 2.54% |
| Pool Corporation |
Opened
10,636
|
$3,268,762,000 | 2.35% |
| Moodys Corp |
Opened
5,899
|
$2,483,066,000 | 1.79% |
| PayPal Holdings Inc |
Opened
41,000
|
$2,379,230,000 | 1.71% |
| Liberty Global plc |
25.82%
121,823
|
$2,123,374,000 | 1.53% |
| Bank America Corp |
Opened
50,000
|
$1,988,500,000 | 1.43% |
| MBIA Inc. |
Opened
321,000
|
$1,762,290,000 | 1.27% |
| Pathward Financial Inc |
Opened
27,389
|
$1,549,395,000 | 1.11% |
| BlackBerry Ltd |
Closed
312,900
|
$876,088,000 | |
| Assured Guaranty Ltd |
Opened
10,990
|
$847,879,000 | 0.61% |
| China Yuchai Intl Ltd |
No change
73,364
|
$667,612,000 | 0.48% |
| Liberty Media Corp. |
88.15%
28,282
|
$626,729,000 | 0.45% |
| Hertz Global Holdings Inc. |
Opened
242,217
|
$590,926,000 | 0.42% |
| Jefferies Finl Group Inc |
Opened
10,987
|
$546,713,000 | 0.39% |
| Louisiana Pac Corp |
Opened
5,886
|
$484,594,000 | 0.35% |
| Lear Corp. |
Opened
4,000
|
$456,840,000 | 0.33% |
| Magna International Inc. |
No change
10,000
|
$419,000,000 | 0.30% |
| Imperial Oil Ltd. |
No change
5,000
|
$340,923,000 | 0.25% |
| Ryanair Holdings Plc |
No change
2,375
|
$276,545,000 | 0.20% |
| Alibaba Group Hldg Ltd |
No change
3,400
|
$244,800,000 | 0.18% |
| Methanex Corp. |
No change
4,000
|
$193,121,000 | 0.14% |
| Credit Accep Corp Mich |
Opened
262
|
$134,846,000 | 0.10% |
| Vitesse Energy Inc |
Opened
1,293
|
$30,644,000 | 0.02% |
| No transactions found | |||
| Showing first 500 out of 32 holdings | |||
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