What Francis Chou bought and sold in Q1 2026

In Q1 2026, Francis Chou (Chou Associates) opened 5 new positions — including BHR 4.5 06/01/26 (1.2%), KHC (0.7%), BRK/B (0.7%), added to 2, exited 2 (VTS, HTZWW). The book stood at $210M across 31 positions, filed May 14, 2026.

Changes vs the prior quarter's 13F, long US equity positions only (no shorts, options, or non-US listings). ADD/TRIM are share- count changes of ±20% or more. Sourced from SEC EDGAR. Not investment advice.