CHOU ASSOCIATES MANAGEMENT INC. Information

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

Report Date: 12/31/2013

Position Statistics

Total Positions 27
New Positions 2
Increased Positions 5
Decreased Positions 5
Positions with Activity 10
Sold Out Positions 3
Total Mkt Value (in $ millions) 347

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

Sector Weighting

Basic Materials 21.26%
Capital Goods 0.16%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 0.14%
Financial 36.51%
Healthcare 8.7%
Services 13.3%
Technology 11.66%
Transportation 0.28%
Utilities

27 Positions as of 12/31/2013

Company Class Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) ▲ Shares Held
HC2 HLDGS INC COM -1,782 Sold Out 0
RADIOSHACK CORP COM -1,120 Sold Out 0
SPRINT CORP COM SER 1 -944 Sold Out 0
ACTAVIS PLC SHS 6,988 -8,153 (53.85) 35,400
OVERSTOCK COM INC DEL COM 10,673 -2,057 (16.16) 582,271
ASTRAZENECA PLC SPONSORED ADR 825 825 New 13,000
BANK OF AMERICA CORPORATION WT EXP 011619 6,653 New 836,825
BERKSHIRE HATHAWAY INC DEL CL A 57,192 New 300
BP PLC SPONSORED ADR 489 New 10,000
CHINA YUCHAI INTL LTD COM 544 New 25,537
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 4,132 New 132,088
CITIGROUP INC COM NEW 19,770 New 410,000
GLAXOSMITHKLINE PLC SPONSORED ADR 945 945 New 18,000
GOLDMAN SACHS GROUP INC COM 11,808 New 75,000
JPMORGAN CHASE & CO WT EXP 102818 21,434 New 1,126,347
LANDS END INC NEW COM 6,308 New 241,701
MBIA INC COM 12,937 New 1,080,797
RYANAIR HLDGS PLC SPONSORED ADR 971 New 17,000
SANOFI SPONSORED ADR 21,459 New 410,000
SEARS HLDGS CORP COM 30,799 New 803,526