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) 336

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

Sector Weighting

Basic Materials 11.95%
Capital Goods 1.18%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 0.11%
Financial 41.95%
Healthcare 7.04%
Services 16.68%
Technology 11.72%
Transportation 0.37%
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 -391 Sold Out 0
ASCENT CAP GROUP INC COM SER A 5,522 5,522 New 140,000
ASTRAZENECA PLC SPONSORED ADR 877 New 26,000
BANK AMER CORP WT EXP 011619 5,933 New 836,825
BERKSHIRE HATHAWAY INC DEL CL A 64,424 New 300
BLACKBERRY LTD COM 4,190 New 529,040
BP PLC SPONSORED ADR 377 New 10,000
CHICAGO BRIDGE & IRON CO N V COM 3,585 New 67,446
CHINA YUCHAI INTL LTD COM 381 New 25,537
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 4,087 New 132,088
CITIGROUP INC COM NEW 24,141 New 410,000
GLAXOSMITHKLINE PLC SPONSORED ADR 785 785 New 18,000
GOLDMAN SACHS GROUP INC COM 15,540 New 75,000
JPMORGAN CHASE & CO WT EXP 102818 30,164 New 1,126,347
MBIA INC COM 6,647 New 1,080,797
NOKIA CORP SPONSORED ADR 35,150 New 5,000,000
OVERSTOCK COM INC DEL COM 12,169 New 582,271
RESOLUTE FST PRODS INC COM 40,118 New 4,081,218
RYANAIR HLDGS PLC SPONSORED ADR 1,244 New 17,000
SANOFI SPONSORED ADR 21,964 New 410,000