| Fund Name: | Chou Associates Management |
| Manager | Francis Chou |
| Portfolio Value | $353,475,000 |
| Change This QTR | +0.92% |
| No. | Security | Ticker | Shares | Value (x$1000) | Activity | % Port |
|---|---|---|---|---|---|---|
| 1.) | ABH | 2,658,821 | $38,686 | -1% |
10.94% | |
| 2.) | WPI | 635,400 | $38,340 |  |
10.84% | |
| 3.) | LVLT | 30,250,000 | $34,586 | -14% |
9.78% | |
| 4.) | BRK-A | 300 | $34,427 | |
9.73% | |
| 5.) | SHLD | 583,700 | $18,550 | +21% |
5.24% | |
| 6.) | OSTK | 2,310,209 | $18,112 | |
5.12% | |
| 7.) | BAC | 8,950,400 | $18,080 | +40% |
5.11% | |
| 8.) | SNY | 410,000 | $14,981 | |
4.23% | |
| 9.) | GS | 165,000 | $14,921 | |
4.22% | |
| 10.) | S | 6,123,200 | $14,328 | |
4.05% | |
| 11.) | RSH | 1,294,071 | $12,565 | +29% |
3.55% | |
| 12.) | FSR | 1,500,000 | $12,435 | |
3.51% | |
| 13.) | JPM | 1,279,423 | $10,875 | |
3.07% | |
| 14.) | C | 410,000 | $10,787 | +91% |
3.05% | |
| 15.) | WFC | 997,500 | $8,559 | |
2.42% | |
| 16.) | GPS | 375,490 | $6,965 | |
1.97% | |
| 17.) | VRX | 126,377 | $5,901 | |
1.66% | |
| 18.) | Primus Telecommunications Gr |
451,022 | $5,710 | |
1.61% | |
| 19.) | CCRT | 13,150,000 | $5,392 | |
1.52% | |
| 20.) | Mannkind CorpBOND |
MNKD | 9,900,000 | $5,326 | +11% |
1.5% |
