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Chou Associates

Q3 2020 13F · by Francis Chou, portfolio manager

As of
Sep 30, 2020
Filed
Nov 7, 2020
US stock
$99M · prev $91M
Positions
18 · prev 18
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves

First filing on record. Nothing to compare against.

The book

Very concentrated · behaves like 5 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 0.0% a year

  1. Low
  2. Moderate
  3. High

Top 5 positions81% of US stock

  1. BRK.A Berkshire Hathaway Inc. held held30.5%
  2. BHC Bausch Health Companies Inc held held22.8%
  3. 7AB1 Resolute Forest Products held held19.5%
  4. WFC Wells Fargo & Co. held held4.7%
  5. GS Goldman Sachs Group Inc. held held3.8%

Positions18 in this filing · 0 exited

BRK.ABerkshire Hathaway Inc.30.46%100$30Mheld—30 q
BHCBausch Health Companies Inc22.77%1,538,992$23Mheld—9 q
7AB1Resolute Forest Products19.50%4,571,960$19Mheld—30 q
WFCWells Fargo & Co.4.69%209,542$5Mheld—9 q
GSGoldman Sachs Group Inc.3.83%20,000$4Mheld—30 q
MBIMBIA Inc.3.76%652,531$4Mheld—30 q
JPMJPMorgan Chase & Co.3.14%34,275$3Mheld—9 q
CCitigroup Inc.2.78%67,695$3Mheld—30 q
BBBlackBerry Limited1.87%429,040$2Mheld—29 q
DVADaVita Inc.1.85%22,743$2Mheld—10 q
CYDChina Yuchai International Ltd.1.26%73,364$1Mheld—30 q
MGAMagna International0.87%20,000$866,000held—8 q
PKXPOSCO Holdings Inc.0.84%21,000$832,000held—21 q
SAVEQSpirit Airlines, Inc.0.77%50,000$762,000held—10 q
ALGTAllegiant Travel Company0.49%4,317$489,000held—10 q
BACBank of America Corporation0.42%18,376$419,000held—9 q
RYAAYRyanair Holdings plc0.36%4,575$354,000held—20 q
unresolvedFiat Chrysler Automobiles NV s0.35%30,000$347,000held—8 q

Source

Form
13F-HR
Reading
0 defects · 1 unresolved
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet