CHOU ASSOCIATES MANAGEMENT INC. Information

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

Report Date: 03/31/2015

Position Statistics

Total Positions 25
New Positions 3
Increased Positions 3
Decreased Positions 1
Positions with Activity 4
Sold Out Positions 1
Total Mkt Value (in $ millions) 326

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

Sector Weighting

Basic Materials 11.33%
Capital Goods 1.11%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 0.11%
Financial 42.36%
Healthcare 7.19%
Services 17.24%
Technology 11.38%
Transportation 0.38%
Utilities

25 Positions as of 03/31/2015

Company Class Value of Shares ($1,000s) Change in Value ($1,000s) ▲ Change (%) Shares Held
GLAXOSMITHKLINE PLC ORD -383 Sold Out 0
ASTRAZENECA PLC SPONSORED ADR 850 New 26,000
BANK AMER CORP WT EXP 011619 5,749 New 836,825
BERKSHIRE HATHAWAY INC DEL CL A 63,218 New 300
BLACKBERRY LTD COM 3,851 New 529,040
BP PLC SPONSORED ADR 361 New 10,000
CHICAGO BRIDGE & IRON CO N V COM 3,236 New 67,446
CHINA YUCHAI INTL LTD COM 385 New 25,537
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 4,023 New 132,088
CITIGROUP INC COM NEW 23,764 New 410,000
GOLDMAN SACHS GROUP INC COM 15,377 New 75,000
JPMORGAN CHASE & CO WT EXP 102818 29,048 New 1,126,347
MBIA INC COM 6,712 New 1,080,797
NOKIA CORP SPONSORED ADR 33,300 New 5,000,000
OVERSTOCK COM INC DEL COM 12,466 New 582,271
RESOLUTE FST PRODS INC COM 36,976 New 4,081,218
RYANAIR HLDGS PLC SPONSORED ADR 1,229 New 17,000
SANOFI SPONSORED ADR 21,865 New 410,000
SEARS CDA INC COM 4,240 New 775,149
SEARS HLDGS CORP COM 19,212 New 896,088