Francis Chou

Biography

Francis Chou worked as a telephone company technician before turning to investing, and holds the CFA designation. In 1981 he started an investment club that became the Chou Associates Fund, managed by his Toronto firm Chou Associates Management, and he still manages the fund. His stated approach is to buy bargains and keep discipline, holding cash when bargains cannot be found.

In their own words

Chou Associates’s largest US holdings

From the Q2 2026 13F, worth $217m in total. See every holding and change

1. Berkshire HathawayBRK.B30.4%
2. AlphabetGOOG11.8%
3. Synchrony FinancialSYF7.8%
4. Occidental PetroleumOXY7.0%
5. Siriusxm HoldingsSIRI5.6%
6. AppleAAPL5.3%
7. Ally FinancialALLY4.8%
8. StellantisSTLA3.7%
9. Jefferies Financial GroupJEF3.4%
10. Paypal HoldingsPYPL3.3%