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Francis Chou’s cannibal stocks

Chou Associates Management · 13F for Q2 2026

15cannibals held
$81.0Min these positions
Q2 2026latest 13F filing
$17.0M223,202 shares

Synchrony Financial retired 9.7% of its shares in twelve months, so this stake grew 10.7% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Sirius XM

SIRIUnchanged
$12.1M409,589 shares

Sirius XM has retired 44.7% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026

Apple

AAPLReduced
$11.6M40,000 shares

Apple retired 1.2% of its shares in twelve months, so this stake grew 1.2% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Jefferies

JEFUnchanged
$7.5M149,237 shares

Jefferies retired 1.8% of its shares in twelve months, so this stake grew 1.8% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

PayPal

PYPLUnchanged
$7.2M167,400 shares

PayPal retired 8.6% of its shares in twelve months, so this stake grew 9.4% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Wells Fargo

WFCUnchanged
$4.9M59,542 shares

Wells Fargo retired 3.7% of its shares in twelve months, so this stake grew 3.8% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Citigroup

CUnchanged
$4.6M32,695 shares

Citigroup retired 6.3% of its shares in twelve months, so this stake grew 6.7% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

General Motors

GMUnchanged
$4.0M52,000 shares

General Motors retired 5.9% of its shares in twelve months, so this stake grew 6.3% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Bank of America

BACUnchanged
$2.8M50,000 shares

Bank of America retired 4.2% of its shares in twelve months, so this stake grew 4.4% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Pathward Financial

CASHUnchanged
$2.4M27,389 shares

Pathward Financial retired 7.0% of its shares in twelve months, so this stake grew 7.5% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Pool Corporation

POOLUnchanged
$2.3M10,636 shares

Pool Corporation retired 2.4% of its shares in twelve months, so this stake grew 2.5% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

MBIA

MBIUnchanged
$2.1M321,000 shares

MBIA has retired 43.1% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026

Assured Guaranty

AGOUnchanged
$1.4M16,990 shares

Assured Guaranty retired 4.6% of its shares in twelve months, so this stake grew 4.8% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Moody's

MCOUnchanged
$679K1,500 shares

Moody's retired 2.9% of its shares in twelve months, so this stake grew 3.0% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Louisiana-Pacific

LPXUnchanged
$463K5,886 shares

Louisiana-Pacific has retired 51.8% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026

Values as reported in the 13F at quarter end. See the Q2 2026 filing on EDGAR.

Questions

Which cannibal stocks does Francis Chou own?

In the Q2 2026 13F, Chou Associates Management held SYF, SIRI, AAPL, JEF, PYPL, WFC, C, GM, BAC, CASH, POOL, MBI, AGO, MCO, LPX. 15 of them are on the Buyback Radar leaderboard.

Where does this data come from?

From Chou Associates Management's 13F filings with the SEC, the last eight quarters, amendments applied, options excluded. A 13F shows US-listed stock positions at quarter end and is filed up to 45 days later, so it is a record, not a live portfolio.

How do buybacks help Francis Chou?

Synchrony Financial retired 9.7% of its shares in the last twelve months. That alone made every remaining share, including Francis Chou's 223,202, 10.7% bigger as a slice of the company, without buying anything.

Francis Chou’s moves in companies like these are covered on Cannibal Stocks.

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