Chou Associates Management Inc.
Chou Associates Management Inc. is a Canadian investment management firm headquartered in Toronto, Ontario. Founded by Francis Chou, the firm manages a selection of value-oriented mutual funds and separate accounts, focusing on long-term capital growth for its clients through concentrated value investing. The firm is recognized for its disciplined, fundamentals-driven approach, and serves both institutional and individual investors. Employee count is not publicly disclosed, but the firm is known for its close-knit, boutique operations.
Investment Strategy
Chou Associates Management follows a disciplined value investing strategy, thoroughly analyzing individual companies to identify those trading at discounts to intrinsic value. Emphasis is placed on the strength of a company's balance sheet, cash flow, profitability, industry position, management quality, and long-term growth prospects, with far less weight given to short-term market movements. The approach is patient, often willing to hold investments for extended periods and wait for market recognition. Their funds typically invest in both U.S. and foreign equities, and in some cases, debt instruments.
Top Holdings
Equity Positions (31)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
B BRK-A | BERKSHIRE HATHAWAY INC DEL | 34.28% | $62.7M | 86 | $185386.06 | $728800.00 | -$6.0M |
S SIRI | SIRIUSXM HOLDINGS INC | 8.82% | $16.1M | 702,462 | $22.57 | $22.97 | +$298.5K |
G GOOG | ALPHABET INC | 7.99% | $14.6M | 82,390 | $184.49 | $177.39 | +$1.7M |
S SYF | SYNCHRONY FINANCIAL | 7.87% | $14.4M | 215,702 | $40.30 | $66.74 | +$3.0M |
O OXY | OCCIDENTAL PETE CORP | 7.19% | $13.1M | 313,000 | $43.61 | $42.01 | +$9.8M |