In This Article:
Insight into Francis Chou (Trades, Portfolio)'s First Quarter 2025 Investment Strategy
Francis Chou (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. Francis Chou (Trades, Portfolio), the fund manager of Chou America Mutual Funds, has been managing the Chou Funds in Canada since 1986. Chou's experience is an amazing success story of value investing. He came to Canada in 1976 at age 20 with $200 in his pocket. Without a college degree, he could only work on blue-collar jobs. Finally, he landed a job at Bell Canada as a telephone repairman. During that time, he was introduced to the books of Benjamin Graham. In 1981, together with six of his fellow telephone repairmen, Chou started an investment club with $51,000. He left Bell Canada in 1984 and became a retail analyst at GW Asset Management, where he met Prem Watsa (Trades, Portfolio), the future Fairfax CEO. He turned the investment club into the Chou Associates Fund in 1986, and the rest is history. When asked about what the most important things are for him in investing, Chou said: "Buy bargains. Get the returns slowly. Think independently. Don't be afraid of what other people are saying." The investment process followed in selecting equity investments for the Funds is a value-oriented approach that involves a detailed analysis of the strengths of individual companies, with much less emphasis on short-term market factors. Far greater importance is placed upon an assessment of a company's balance sheet, cash flow characteristics, profitability, industry position, special strengths, future growth potential, and management ability.
Summary of New Buy
Francis Chou (Trades, Portfolio) added a total of 2 stocks, among them:
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The most significant addition was Occidental Petroleum Corp (NYSE:OXY), with 68,000 shares, accounting for 1.85% of the portfolio and a total value of $3.36 million.
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The second largest addition to the portfolio was General Motors Co (NYSE:GM), consisting of 52,000 shares, representing approximately 1.34% of the portfolio, with a total value of $2.45 million.
Key Position Increases
Francis Chou (Trades, Portfolio) also increased stakes in a total of 3 stocks, among them:
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The most notable increase was Sirius XM Holdings Inc (NASDAQ:SIRI), with an additional 689,872 shares, bringing the total to 702,462 shares. This adjustment represents a significant 5,479.52% increase in share count, an 8.55% impact on the current portfolio, with a total value of $15,837,010.
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The second largest increase was Stellantis NV (NYSE:STLA), with an additional 940,000 shares, bringing the total to 1,396,388. This adjustment represents a significant 205.97% increase in share count, with a total value of $15,653,510.