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Institutional Investment Manager
Chou Associates Management Inc.
Chou Associates Management Inc. (CIK: 0001389403), located at 110 Sheppard Avenue East, Toronto, A6. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q2)
Portfolio Summary: 23 holdings with a total value of $327,017,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 BERKSHIRE HATHAWAY INC DEL 300 61,438,000 18.79%
2 RESOLUTE FOREST 4,081,218 45,901,000 14.04%
3 J.P. MORGAN CHASE & CO 1,126,347 27,869,000 8.52%
4 NOKIA CORP 5,000,000 25,680,000 7.85%
5 SEARS HLDGS CORPORATION 896,088 23,919,000 7.31%
6 CITIGROUP INC 410,000 22,642,000 6.92%
7 WELLS FARGO & CO NEW 997,500 22,428,000 6.86%
8 SANOFI 410,000 20,302,000 6.21%
9 GOLDMAN SACHS GROUP INC 75,000 15,655,000 4.79%
10 OVERSTOCK COM INC DEL COM 582,271 13,121,000 4.01%
11 SEARS HOMETOWN & OUTLET STOR 1,322,209 12,558,000 3.84%
12 MBIA INC 1,080,797 6,494,000 1.99%
13 ASCENT CAP GROUP INC COM SER A 140,000 5,982,000 1.83%
14 BANK AMER CORP 836,825 5,162,000 1.58%
15 SEARS CDA INC COM 775,149 4,711,000 1.44%
16 BLACKBERRY LTD 529,040 4,330,000 1.32%
17 CHICAGO BRIDGE & IRON CO N V 67,446 3,374,000 1.03%
18 ASCENT CAP GROUP INC 2,683,000 2,215,000 0.68%
19 Ryanair Hldgs Plc Adr 17,000 1,213,000 0.37%
20 ASTRAZENECA PLC 13,000 822,000 0.25%
21 CHINA YUCHAI INTL LTD COM 25,537 428,000 0.13%
22 BP PLC 10,000 399,000 0.12%
23 GLAXOSMITHKLINE PLC 18,000 374,000 0.11%

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001144204-15-047982, filed 2015.08.11).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.