CHOU ASSOCIATES MANAGEMENT INC. Information

110 SHEPPARD AVENUE EAST, TORONTO, , M2N 6Y8, (416) 214-0675

Report Date: 09/30/2014

Position Statistics

Total Positions 25
New Positions 2
Increased Positions 2
Decreased Positions 2
Positions with Activity 4
Sold Out Positions 1
Total Mkt Value (in $ millions) 397

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 17.22%
Capital Goods 0.12%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 0.1%
Financial 50%
Healthcare 5.27%
Services 14.15%
Technology 11.37%
Transportation 0.29%
Utilities

25 Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
RESOLUTE FST PRODS INC COM 68,429 New 4,117,259
BERKSHIRE HATHAWAY INC DEL CL A 67,125 New 300
JPMORGAN CHASE & CO COM 63,841 New 1,126,347
NOKIA CORP SPONSORED ADR 39,500 New 5,000,000
SEARS HLDGS CORP COM 27,440 New 803,526
CITIGROUP INC COM NEW 19,934 New 410,000
WELLS FARGO & CO NEW WT EXP 102818 19,701 New 997,500
SANOFI SPONSORED ADR 19,221 New 410,000
GOLDMAN SACHS GROUP INC COM 13,537 New 75,000
OVERSTOCK COM INC DEL COM 13,124 New 582,271
SEARS HOMETOWN & OUTLET STORES COM 10,958 10,958 New 890,170
MBIA INC COM 9,533 New 1,080,797
LANDS END INC NEW COM 5,880 -3,488 (37.24) 151,696
BLACKBERRY LTD COM 5,663 New 529,040
BANK AMER CORP WT EXP 011619 4,984 New 836,825
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 4,037 New 132,088
RYANAIR HLDGS PLC SPONSORED ADR 1,170 New 17,000
ASTRAZENECA PLC SPONSORED ADR 919 New 13,000
GLAXOSMITHKLINE PLC SPONSORED ADR 810 810 New 18,000
CHINA YUCHAI INTL LTD COM 483 New 25,537