CHOU ASSOCIATES MANAGEMENT INC. Information

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

Report Date: 12/31/2014

Position Statistics

Total Positions 28
New Positions 4
Increased Positions 6
Decreased Positions 7
Positions with Activity 13
Sold Out Positions 6
Total Mkt Value (in $ millions) 371

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

Sector Weighting

Basic Materials 18.23%
Capital Goods 1.02%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 0.11%
Financial 36.18%
Healthcare 5.88%
Services 20.15%
Technology 11.72%
Transportation 0.3%
Utilities

28 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) Shares Held ▲
GLAXOSMITHKLINE PLC SPONSORED ADR -846 Sold Out 0
JPMORGAN CHASE & CO COM -67,074 Sold Out 0
LANDS END INC NEW COM -5,378 Sold Out 0
UTSTARCOM HOLDINGS CORP SHS NEW -300 Sold Out 0
VERIZON COMMUNICATIONS INC COM -128 Sold Out 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR -182 Sold Out 0
BERKSHIRE HATHAWAY INC DEL CL A 65,100 New 300
BP PLC SPONSORED ADR 396 New 10,000
ASTRAZENECA PLC SPONSORED ADR 911 New 13,000
RYANAIR HLDGS PLC SPONSORED ADR 1,125 New 17,000
GLAXOSMITHKLINE PLC ORD 428 428 New 18,000
CHINA YUCHAI INTL LTD COM 494 New 25,537
CHICAGO BRIDGE & IRON CO N V COM 3,284 3,284 New 67,446
GOLDMAN SACHS GROUP INC COM 14,105 New 75,000
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 4,186 New 132,088
CITIGROUP INC COM NEW 20,910 New 410,000
SANOFI SPONSORED ADR 20,488 New 410,000
BLACKBERRY LTD COM 5,005 New 529,040
OVERSTOCK COM INC DEL COM 13,940 New 582,271
SEARS CDA INC COM 7,356 7,356 New 775,149