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) 340

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

Sector Weighting

Basic Materials 21.21%
Capital Goods 0.16%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 0.14%
Financial 37.1%
Healthcare 8.82%
Services 12.34%
Technology 11.83%
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 -1,786 Sold Out 0
RADIOSHACK CORP COM -1,342 Sold Out 0
SPRINT CORP COM SER 1 -927 Sold Out 0
VERIZON COMMUNICATIONS INC COM 68 New 1,435
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 194 New 5,455
UTSTARCOM HOLDINGS CORP SHS NEW 325 New 113,627
BP PLC SPONSORED ADR 484 New 10,000
CHINA YUCHAI INTL LTD COM 542 New 25,537
ASTRAZENECA PLC SPONSORED ADR 826 826 New 13,000
GLAXOSMITHKLINE PLC SPONSORED ADR 951 951 New 18,000
RYANAIR HLDGS PLC SPONSORED ADR 955 New 17,000
BLACKBERRY LTD COM 3,783 2,460 185.97 529,040
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 4,132 New 132,088
LANDS END INC NEW COM 6,250 New 241,701
BANK OF AMERICA CORPORATION WT EXP 011619 6,644 New 836,825
ACTAVIS PLC SHS 7,058 -8,235 (53.85) 35,400
OVERSTOCK COM INC DEL COM 10,300 -1,985 (16.16) 582,271
GOLDMAN SACHS GROUP INC COM 11,792 New 75,000
MBIA INC COM 13,121 New 1,080,797
WELLS FARGO & CO NEW WT EXP 102818 18,354 New 997,500