Francis Chou - Chou Associates Management Inc.
Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    30
Portfolio value:    $207,812,043
Holdings Activity Buys Sells    History
History Stock Activity Share change % change to portfolio
Q1 2026
VTS - Vitesse Energy Inc Sell 100.00% 1,293 0.01
Q4 2025
GOOG - Alphabet Inc. CL C Reduce 12.14% 10,000 1.17
SIRI - SiriusXM Holdings Inc Reduce 41.69% 292,873 3.28
C - Citigroup Inc. Reduce 43.33% 25,000 1.22
MCO - Moody's Corp. Reduce 74.57% 4,399 1.01
LEA - Lear Corp. Sell 100.00% 4,000 0.19
SNREY-OLD - Sunrise Communications Ag Sell 100.00% 2,400 0.07
CACC - Credit Acceptance Corp. Sell 100.00% 262 0.06
Q2 2025
STLA - Stellantis N.V. Reduce 50.44% 704,388 4.34
CYD - China Yuchai Intl Ltd. Reduce 68.15% 50,000 0.47
LBTYA - Liberty Global Ltd CL A Sell 100.00% 12,000 0.08
Q4 2024
BRK.A - Berkshire Hathaway CL A Reduce 4.44% 4 1.76
SIRI - SiriusXM Holdings Inc Reduce 46.85% 11,096 0.17
LBTYA - Liberty Global Ltd CL A Reduce 90.15% 109,823 1.47
OXY - Occidental Petroleum Sell 100.00% 200,000 6.55
NAVI - Navient Corporation Sell 100.00% 264,245 2.62
OXY.WS - Occidental Pete Corp Sell 100.00% 68,000 1.28
HTZWW - Hertz Global Hldgs Inc. WTS Sell 100.00% 192,111 0.27
Q3 2024
HTZWW - Hertz Global Hldgs Inc. WTS Reduce 20.69% 50,106 0.09
LSXMK - Liberty Media Corp Del Sell 100.00% 28,282 0.45
Q2 2024
HTZWW - Hertz Global Hldgs Inc. WTS Reduce 67.34% 499,366 2.55
BHC - Bausch Health Cos Inc Sell 100.00% 715,000 8.70
BB - BlackBerry Ltd. Sell 100.00% 312,900 0.98
Q4 2023
RYAAY - Ryanair Holdings PLC Reduce 48.09% 2,200 0.28
MBI - MBIA Inc. Sell 100.00% 199,530 1.92
BBBY - Overstock Com Inc Sell 100.00% 38,405 0.81
Q1 2023
RFP - Resolute Fst Prods Inc Sell 100.00% 261,460 7.98
CIXXF - Ci Finl Corp Sell 100.00% 28,700 0.40
Q4 2022
BRK.A - Berkshire Hathaway CL A Reduce 20.00% 20 8.05
RFP - Resolute Fst Prods Inc Reduce 86.84% 1,725,000 34.15
JPM - JPMorgan Chase & Co. Sell 100.00% 24,275 2.51
GS - Goldman Sachs Group Sell 100.00% 7,100 2.06
PKX - Posco Holdings Inc Sell 100.00% 21,000 0.76
GNUS - Genius Brands Intl Inc Sell 100.00% 341,303 0.20
Q3 2022
BBBY - Overstock Com Inc Reduce 12.76% 5,616 0.14
BB - BlackBerry Ltd. Reduce 18.28% 70,000 0.36
RFP - Resolute Fst Prods Inc Reduce 35.85% 1,110,000 13.67
Q2 2022
BHC - Bausch Health Cos Inc Reduce 6.54% 50,000 0.84
MGA - Magna International Inc. Reduce 50.00% 10,000 0.48
MBI - MBIA Inc. Reduce 66.72% 400,000 4.54
Q1 2022
JPM - JPMorgan Chase & Co. Reduce 29.18% 10,000 1.10
PKX - Posco Sell 100.00% 21,000 0.85
Q4 2021
RFP - Resolute Fst Prods Inc Reduce 6.15% 203,000 1.52
BHC - Bausch Health Cos Inc Reduce 48.83% 730,000 12.78
WFC - Wells Fargo Reduce 88.47% 150,000 4.38
Q3 2021
BB - BlackBerry Ltd. Reduce 4.28% 17,100 0.12
RFP - Resolute Fst Prods Inc Reduce 16.27% 641,000 4.57
Q2 2021
RFP - Resolute Fst Prods Inc Reduce 13.58% 619,000 3.93
C - Citigroup Inc. Reduce 14.77% 10,000 0.42
GS - Goldman Sachs Group Reduce 49.29% 6,900 1.31
BAC - Bank of America Corp. Sell 100.00% 8,376 0.19
Q1 2021
RFP - Resolute Fst Prods Inc Reduce 0.27% 12,500 0.06
BHC - Bausch Health Cos Inc Reduce 2.86% 43,992 0.70
MBI - MBIA Inc. Reduce 3.23% 20,000 0.10
BB - BlackBerry Ltd. Reduce 6.77% 29,040 0.15
WFC - Wells Fargo Reduce 19.09% 40,000 0.93
GS - Goldman Sachs Group Reduce 22.22% 4,000 0.81
BAC - Bank of America Corp. Reduce 54.42% 10,000 0.23
DVA - DaVita HealthCare Partners Sell 100.00% 10,743 0.97
Q4 2020
MBI - MBIA Inc. Reduce 5.06% 33,001 0.19
GS - Goldman Sachs Group Reduce 10.00% 2,000 0.38
DVA - DaVita HealthCare Partners Reduce 52.76% 12,000 0.98
SAVEQ - Spirit Airls Inc Sell 100.00% 50,000 0.77
ALGT - Allegiant Travel Company Sell 100.00% 4,317 0.49
Q2 2020
BHC - Bausch Health Cos Inc Reduce 1.28% 20,000 0.31
BB - BlackBerry Ltd. Reduce 18.90% 100,000 0.41
DVA - DaVita HealthCare Partners Reduce 30.54% 10,000 0.76
BRK.A - Berkshire Hathaway CL A Reduce 33.33% 50 13.61
SNY - Sanofi Aventis Sell 100.00% 20,000 0.87
Q1 2020
BHC - Bausch Health Cos Inc Reduce 3.71% 60,000 1.04
JPM - JPMorgan Chase & Co. Reduce 22.59% 10,000 0.81
BAC - Bank of America Corp. Reduce 35.24% 10,000 0.20
DVA - DaVita HealthCare Partners Reduce 67.50% 68,000 2.97
Q4 2019
BHC - Bausch Health Cos Inc Reduce 1.82% 30,000 0.40
DVA - DaVita HealthCare Partners Reduce 16.56% 20,000 0.70
WFC - Wells Fargo Reduce 38.29% 130,000 4.04
BAC - Bank of America Corp. Reduce 69.61% 65,000 1.17
ENDPQ - Endo Intl Plc Sell 100.00% 380,000 0.75
TEVA - Teva Pharmaceutical Industries Ltd. Sell 100.00% 15,000 0.06
Q3 2019
WFC - Wells Fargo Reduce 21.86% 95,000 2.13
MBI - MBIA Inc. Reduce 31.50% 300,000 1.32
C - Citigroup Inc. Reduce 47.93% 62,305 2.07
ENDPQ - Endo Intl Plc Reduce 56.82% 500,000 0.98
JPM - JPMorgan Chase & Co. Reduce 59.48% 65,000 3.44
GS - Goldman Sachs Group Reduce 60.00% 30,000 2.90
SHOS - Sears Hometown & Outlet Stor Sell 100.00% 1,296,960 1.46
Q2 2019
SHOS - Sears Hometown & Outlet Stor Reduce 0.38% 5,000 0.00
DVA - DaVita HealthCare Partners Reduce 14.21% 20,000 0.48
SNY - Sanofi Aventis Reduce 91.94% 228,000 4.50
Q1 2019
SNY - Sanofi Aventis Reduce 16.78% 50,000 1.04
ASCMA - Ascent Cap Group Inc Sell 100.00% 149,104 0.03
SHLDQ - Sears Hldgs Corp Sell 100.00% 99,135 0.01
Q4 2018
MBI - MBIA Inc. Reduce 0.58% 5,566 0.02
SHOS - Sears Hometown & Outlet Stor Reduce 0.76% 10,000 0.01
SNY - Sanofi Aventis Reduce 17.22% 62,000 1.00
ASCMA - Ascent Cap Group Inc Reduce 44.36% 118,896 0.08
SHLDQ - Sears Hldgs Corp Reduce 80.38% 406,246 0.14
Q3 2018
SHOS - Sears Hometown & Outlet Stor Reduce 0.78% 10,249 0.01
MBI - MBIA Inc. Reduce 11.35% 122,700 0.50
SNY - Sanofi Aventis Reduce 12.20% 50,000 0.90
ASCMA - Ascent Cap Group Inc Reduce 12.42% 38,000 0.05
GS - Goldman Sachs Group Reduce 33.33% 25,000 2.49
C - Citigroup Inc. Reduce 38.10% 80,000 2.42
SHLDQ - Sears Hldgs Corp Reduce 55.34% 626,229 0.67
WFC.WS - Wells Fargo & Co New Sell 100.00% 997,500 9.93
JPM.WS - Jpmorgan Chase & Co Sell 100.00% 166,977 4.79
NOK - Nokia Corp. Sell 100.00% 650,000 1.69
BAC.WS.A - Bank Amer Corp Sell 100.00% 149,476 1.10
BBBY - Overstock Com Inc Del Sell 100.00% 6,650 0.10
Q2 2018
RFP - Resolute Fst Prods Inc Reduce 0.54% 24,872 0.10
NOK - Nokia Corp. Reduce 23.53% 200,000 0.53
SD - SandRidge Energy Inc. Sell 100.00% 135,903 0.96
Q4 2017
RFP - Resolute Fst Prods Inc Reduce 7.39% 366,591 0.78
SD - SandRidge Energy Inc. Reduce 13.23% 20,720 0.18
JPM.WS - Jpmorgan Chase & Co Reduce 54.42% 199,370 4.53
BAC.WS.A - Bank Amer Corp Reduce 65.78% 287,349 1.61
RYAAY - Ryanair Holdings PLC Reduce 72.40% 12,000 0.54
ENDPQ - Endo Intl Plc Reduce 91.58% 870,000 3.14
TEVA - Teva Pharmaceutical Industries Ltd. Reduce 97.03% 490,000 3.63
BBBY - Overstock Com Inc Del Reduce 97.68% 280,000 3.50
CBI - Chicago Bridge & Iron Co N V Sell 100.00% 67,446 0.48
Q3 2017
BAC.WS.A - Bank Amer Corp Reduce 18.63% 100,000 0.45
NOK - Nokia Corp. Reduce 32.00% 400,000 0.93
C - Citigroup Inc. Reduce 32.26% 100,000 2.53
JPM.WS - Jpmorgan Chase & Co Reduce 41.51% 260,000 4.94
BBBY - Overstock Com Inc Del Reduce 50.77% 295,621 1.82
SRSCQ - Sears Cda Inc Sell 100.00% 775,149 0.20
GM.WS.B - General Mtrs Co Sell 100.00% 13,019 0.09
Q2 2017
C - Citigroup Inc. Reduce 24.39% 100,000 2.21
NOK - Nokia Corp. Reduce 54.55% 1,500,000 3.01
Q1 2017
NOK - Nokia Corp. Reduce 26.67% 1,000,000 1.74
BAC.WS.A - Bank Amer Corp Reduce 35.85% 300,000 1.08
JPM.WS - Jpmorgan Chase & Co Reduce 44.39% 500,000 8.02
AZN - AstraZeneca PLC Sell 100.00% 6,500 0.26
AP47 - Glaxosmithkline Plc Sell 100.00% 18,000 0.13
Q4 2016
ASCMA - Ascent Cap Group Inc Reduce 10.00% 34,000 0.34
SHLDQ - Sears Hldgs Corp Reduce 20.96% 300,000 1.50
BP - BP plc Sell 100.00% 10,000 0.15
Q1 2016
BRK.A - Berkshire Hathaway CL A Reduce 50.00% 150 10.52
Q4 2015
73HK - Ryanair Hldgs Plc Sell 100.00% 17,000 0.48
Q3 2015
NOK - Nokia Corp. Reduce 25.00% 1,250,000 1.98
ASCMA - Ascent Cap Group Inc Sell 100.00% 140,000 1.84
CBI - Chicago Bridge & Iron Co N C Sell 100.00% 67,446 1.04
Q2 2015
CHT - Chunghwa Telecom Co Ltd Sell 100.00% 132,088 1.12
SHLWQ - Sears Hldgs Corp Sell 100.00% 581 0.00
Q4 2014
RFP - Resolute Fst Prods Inc Reduce 0.88% 36,041 0.16
JPM - JPMorgan Chase & Co. Sell 100.00% 1,126,347 6.48
LE - Lands End Inc Sell 100.00% 151,696 1.79
UTSI - Utstarcom Holdings Corp Sell 100.00% 113,627 0.10
VOD - Vodafone Group Plc New Sell 100.00% 5,454 0.05
VZ - Verizon Communications Sell 100.00% 2,630 0.04
Q3 2014
LE - Lands End Inc Reduce 37.24% 90,001 0.89
Q2 2014
JPM.WS - Jpmorgan Chase & Co Sell 100.00% 1,126,347 6.29
ACT-W - Actavis Plc Sell 100.00% 35,400 2.01
Q1 2014
RFP - Resolute Fst Prods Inc Reduce 2.60% 110,000 0.50
VODD - Vodafone Group Plc New Sell 100.00% 10,000 0.11
Q4 2013
BBBY - Overstock Com Inc Del Reduce 16.16% 112,200 0.94
DLCA - Dell Inc Sell 100.00% 2,500,000 9.72
TAN - Radioshack Corp Sell 100.00% 794,071 0.76
2S7 - Sprint Corp Sell 100.00% 110,770 0.19
Q3 2013
BBBY - Overstock Com Inc Del Reduce 36.10% 392,254 3.37
73HK - Ryanair Hldgs Plc Reduce 37.04% 10,000 0.16
NOK - Nokia Corp. Reduce 90.00% 4,500,000 5.13
SPNT - Sprint Nextel Corp Sell 100.00% 423,200 0.91
RIIG - Research In Motion Ltd Sell 100.00% 185,000 0.59
Q2 2013
GS - Goldman Sachs Group Reduce 34.78% 40,000 2.98
TAN - Radioshack Corp Reduce 38.64% 500,000 0.85
SPNT - Sprint Nextel Corp Reduce 73.93% 1,200,000 3.78
Q1 2013
RFP - Resolute Fst Prods Inc Reduce 4.00% 114,876 0.75
RIIG - Research In Motion Ltd Reduce 7.50% 15,000 0.09
SPNT - Sprint Nextel Corp Com Ser 1 Reduce 23.55% 500,000 1.41
GS - Goldman Sachs Group Reduce 30.30% 50,000 3.16
WATS - Watson Pharmaceuticals Inc Sell 100.00% 335,400 14.31
SYA - Symetra Finl Corp Sell 100.00% 124,000 0.80
Q4 2012
JPM.WS - Jpmorgan Chase & Co W Exp 10/28/201 Reduce 2.85% 33,072 1.29
RFP - Resolute Fst Prods Inc Reduce 6.13% 187,772 0.67
SPNT - Sprint Nextel Corp Com Ser 1 Reduce 32.02% 1,000,000 1.52
BAC.WS.A - Bank Of America Corporation W Exp 01/16/201 Reduce 80.72% 3,504,637 3.40
ODP - Office Depot Inc Sell 100.00% 1,303,301 0.92
GAP - Gap Inc Del Sell 100.00% 83,590 0.82
Q3 2012
SYA - Symetra Finl Corp Reduce 28.74% 50,000 0.20
WATS - Watson Pharmaceuticals Inc Reduce 37.36% 200,000 4.72
GAP - Gap Inc Del Reduce 37.43% 50,000 0.44
SPNT - Sprint Nextel Corp Com Ser 1 Reduce 48.99% 3,000,000 3.12
BRK.A - Berkshire Hathaway CL A Sell 100.00% 300 11.95
BBBY - Overstock Com Inc Del Sell 100.00% 2,310,209 5.09
SNY - Sanofi Aventis Sell 100.00% 410,000 4.94
FSR - Flagstone Reinsurance Holdin Sell 100.00% 1,500,000 3.83
C - Citigroup Inc. Sell 100.00% 410,000 3.58
NOK - Nokia Corp. Sell 100.00% 5,030,000 3.32
SKM - Sk Telecom Ltd Sell 100.00% 170,000 0.66
UTSI - Utstarcom Holdings Corp Sell 100.00% 1,247,051 0.47
USG - Usg Corp Sell 100.00% 54,039 0.33
73HK - Ryanair Hldgs Plc Sell 100.00% 27,000 0.26
BP - BP plc Sell 100.00% 10,000 0.13
Q2 2012
JPM.WS - Jpmorgan Chase & Co Reduce 11.96% 153,076 0.67
BAC.WS.A - Bank Of America Corporation Reduce 37.54% 2,608,938 3.96
GAP - Gap Inc Del Reduce 64.42% 241,900 2.06
QXMCF - Qiao Xing Mobile Comm Co Ltd Sell 100.00% 1,584,397 0.52
Q1 2012
WATS - Watson Pharmaceuticals Inc Reduce 15.74% 100,000 2.39
BAC.WS.A - Bank Of America Corporation Reduce 22.35% 2,000,000 1.60
ODP - Office Depot Inc Reduce 44.50% 1,045,200 0.89
Q4 2011
CRYP - Cryptologic Limited Sell 100.00% 45,100 0.02
Q3 2011
CRYP - Cryptologic Limited Reduce 24.83% 14,900 0.01
Q2 2011
ICO - International Coal Grp Inc N Sell 100.00% 400,020 1.92
Q1 2011
ICO - International Coal Grp Inc N Reduce 83.33% 1,999,980 4.71
KG - King Pharmaceuticals Inc Sell 100.00% 6,025,300 25.77
Q4 2010
KG - King Pharmaceuticals Inc Reduce 10.44% 702,600 2.16
ICO - International Coal Grp Inc N Reduce 20.00% 600,000 0.98
4107485Q - Valeant Pharmaceuticals Intl Sell 100.00% 1,437,200 11.96
Q3 2010
SNY - Sanofi Aventis Reduce 19.61% 100,000 1.12
BVFF - Biovail Corp Sell 100.00% 1,937,200 13.89
KSWS - K-Swiss Inc Sell 100.00% 18,674 0.08
Q2 2010
KG - King Pharmaceuticals Inc Reduce 1.46% 100,000 0.33
BVFF - Biovail Corp Reduce 9.36% 200,000 0.95
WATS - Watson Pharmaceuticals Inc Reduce 9.92% 70,000 0.83
ODP - Office Depot Inc Reduce 68.23% 800,000 1.81
KSWS - K-Swiss Inc Reduce 96.05% 454,046 1.34
RCNI - Rcn Corp Sell 100.00% 1,700,884 7.25
QWC - Qwest Communications Intl In Sell 100.00% 2,000,000 2.95
Q1 2010
BVFF - Biovail Corp Reduce 4.47% 100,000 0.44
KG - King Pharmaceuticals Inc Reduce 5.64% 408,200 1.59
ODP - Office Depot Inc Reduce 20.35% 299,550 0.61
UTMD - Utah Med Prods Inc Sell 100.00% 6,535 0.06
Q4 2009
SNY - Sanofi Aventis Reduce 8.93% 50,000 0.64
UTMD - Utah Med Prods Inc Reduce 83.62% 33,364 0.34
Q3 2009
BVFF - Biovail Corp Reduce 4.28% 100,000 0.54
UTMD - Utah Med Prods Inc Reduce 33.33% 19,944 0.21
Q2 2009
UTMD - Utah Med Prods Inc Reduce 2.01% 1,227 0.01
WATS - Watson Pharmaceuticals Inc Reduce 12.42% 100,000 1.57
Q1 2009
WATS - Watson Pharmaceuticals Inc Reduce 5.85% 50,000 0.58
BVFF - Biovail Corp Reduce 14.61% 400,000 1.64
Q4 2008
BVFF - Biovail Corp Reduce 5.20% 150,000 0.49
WATS - Watson Pharmaceuticals Inc Reduce 5.52% 50,000 0.48
KG - King Pharmaceuticals Inc Reduce 7.36% 575,000 1.86
BRK.A - Berkshire Hathaway CL A Reduce 9.52% 20 0.88
SPNT - Sprint Nextel Corp Sell 100.00% 729,544 1.50
DISH - Dish Network Corp Sell 100.00% 50,000 0.35
TCADR - Telecom Corp New Zealand Ltd Sell 100.00% 113,777 0.35
HTX - Hutchison Telecomm Intl Ltd Sell 100.00% 20,000 0.11
PTYA - Penn Treaty Amern Corp Sell 100.00% 100,000 0.05
Q3 2008
SHLDQ - Sears Hldgs Corp Reduce 7.52% 19,000 0.44
SUTMQ - Sun-Times Media Group Inc Sell 100.00% 2,522,100 0.39
73HK - Ryanair Hldgs Plc Sell 100.00% 35,000 0.32
CTO - CTO Realty Growth Inc. Sell 100.00% 6,210 0.08
Q2 2008
CTO - CTO Realty Growth Inc. Reduce 64.31% 11,190 0.23
MGA - Magna International Inc. Sell 100.00% 13,400 0.36
Q1 2008
BRK.A - Berkshire Hathaway CL A Reduce 46.15% 180 8.58
CTO - CTO Realty Growth Inc. Reduce 51.26% 18,300 0.38
ICO - International Coal Grp Inc N Sell 100.00% 500,000 0.90
EOR - EchoStar Communications New Sell 100.00% 50,000 0.64