Francis Chou - Chou Associates Management Inc.
Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    30
Portfolio value:    $207,812,043
Holdings Activity Buys Sells    History
History Stock Activity Share change % change to portfolio
Q1 2026
JEF - Jefferies Financial Group Inc. Add 1,258.31% 138,250 2.74
PYPL - PayPal Holdings Inc. Add 308.29% 126,400 2.75
AGO - Assured Guaranty Ltd. Add 54.60% 6,000 0.24
SYF - Synchrony Financial Add 3.48% 7,500 0.25
KHC - Kraft Heinz Co. Buy 69,500 0.75
BRK.B - Berkshire Hathaway CL B Buy 3,100 0.71
ATKR - Atkore International Group Inc. Buy 8,400 0.24
HPQ - HP Inc. Buy 26,500 0.24
VTS - Vitesse Energy Inc Sell 100.00% 1,293 0.01
Q4 2025
GOOG - Alphabet Inc. CL C Reduce 12.14% 10,000 1.17
SIRI - SiriusXM Holdings Inc Reduce 41.69% 292,873 3.28
C - Citigroup Inc. Reduce 43.33% 25,000 1.22
MCO - Moody's Corp. Reduce 74.57% 4,399 1.01
LEA - Lear Corp. Sell 100.00% 4,000 0.19
SNREY-OLD - Sunrise Communications Ag Sell 100.00% 2,400 0.07
CACC - Credit Acceptance Corp. Sell 100.00% 262 0.06
Q3 2025
STLA - Stellantis N.V. Add 101.47% 702,194 3.16
Q2 2025
MEOH - Methanex Corp. Add 400.00% 16,000 0.29
OXY - Occidental Petroleum Add 360.29% 245,000 5.63
STLA - Stellantis N.V. Reduce 50.44% 704,388 4.34
CYD - China Yuchai Intl Ltd. Reduce 68.15% 50,000 0.47
LBTYA - Liberty Global Ltd CL A Sell 100.00% 12,000 0.08
Q1 2025
SIRI - SiriusXM Holdings Inc Add 5,479.52% 689,872 8.55
BABA - Alibaba Group Holdings Add 1,132.35% 38,500 2.80
STLA - Stellantis N.V. Add 205.97% 940,000 5.80
OXY - Occidental Petroleum Buy 68,000 1.85
GM - General Motors Buy 52,000 1.34
Q4 2024
SYF - Synchrony Financial Add 11.65% 22,500 1.02
SNREY-OLD - Sunrise Communications Ag Buy 2,400 0.07
BRK.A - Berkshire Hathaway CL A Reduce 4.44% 4 1.76
SIRI - SiriusXM Holdings Inc Reduce 46.85% 11,096 0.17
LBTYA - Liberty Global Ltd CL A Reduce 90.15% 109,823 1.47
OXY - Occidental Petroleum Sell 100.00% 200,000 6.55
NAVI - Navient Corporation Sell 100.00% 264,245 2.62
OXY.WS - Occidental Pete Corp Sell 100.00% 68,000 1.28
HTZWW - Hertz Global Hldgs Inc. WTS Sell 100.00% 192,111 0.27
Q3 2024
RYAAY - Ryanair Holdings PLC Add 149.98% 3,562 0.10
OXY - Occidental Petroleum Buy 200,000 6.55
OXY.WS - Occidental Pete Corp Buy 68,000 1.28
SIRI - SiriusXM Holdings Inc Buy 23,686 0.36
HTZWW - Hertz Global Hldgs Inc. WTS Reduce 20.69% 50,106 0.09
LSXMK - Liberty Media Corp Del Sell 100.00% 28,282 0.45
Q2 2024
STLA - Stellantis N.V. Add 1,421.29% 426,388 6.08
WFC - Wells Fargo Add 204.69% 40,000 1.71
LSXMK - Liberty Media Corp Del Add 88.15% 13,250 0.21
SYF - Synchrony Financial Add 61.00% 73,202 2.49
ALLY - Ally Financial Inc. Add 44.86% 69,839 1.99
NAVI - Navient Corporation Add 44.13% 80,907 0.85
LBTYA - Liberty Global Ltd CL A Add 25.82% 25,000 0.31
BRK.A - Berkshire Hathaway CL A Add 12.50% 10 4.40
GOOG - Alphabet Inc. CL C Buy 82,390 10.87
AAPL - Apple Inc. Buy 44,000 6.66
POOL - Pool Corp. Buy 10,636 2.35
MCO - Moody's Corp. Buy 5,899 1.79
PYPL - PayPal Holdings Inc. Buy 41,000 1.71
BAC - Bank of America Corp. Buy 50,000 1.43
MBI - MBIA Inc. Buy 321,000 1.27
CASH - Meta Financial Group Inc. Buy 27,389 1.11
AGO - Assured Guaranty Ltd. Buy 10,990 0.61
JEF - Jefferies Financial Group Inc. Buy 10,987 0.39
LPX - Louisiana-Pacific Corp. Buy 5,886 0.35
LEA - Lear Corp. Buy 4,000 0.33
CACC - Credit Acceptance Corp. Buy 262 0.10
VTS - Vitesse Energy Inc Buy 1,293 0.02
HTZWW - Hertz Global Hldgs Inc. WTS Reduce 67.34% 499,366 2.55
BHC - Bausch Health Cos Inc Sell 100.00% 715,000 8.70
BB - BlackBerry Ltd. Sell 100.00% 312,900 0.98
Q1 2024
LSXMK - Liberty Media Corp Del Buy 15,032 0.51
IMO - Imperial Oil Ltd. Buy 5,000 0.40
Q4 2023
RYAAY - Ryanair Holdings PLC Reduce 48.09% 2,200 0.28
MBI - MBIA Inc. Sell 100.00% 199,530 1.92
BBBY - Overstock Com Inc Sell 100.00% 38,405 0.81
Q2 2023
BABA - Alibaba Group Holdings Buy 3,400 0.36
Q1 2023
SYF - Synchrony Financial Add 106.90% 62,000 2.52
NAVI - Navient Corporation Buy 183,338 4.09
RFP - Resolute Fst Prods Inc Sell 100.00% 261,460 7.98
CIXXF - Ci Finl Corp Sell 100.00% 28,700 0.40
Q4 2022
LBTYA - Liberty Global Ltd CL A Add 706.86% 84,823 2.27
HTZWW - Hertz Global Hldgs Inc. WTS Add 662.09% 644,274 6.79
ALLY - Ally Financial Inc. Buy 155,686 5.38
SYF - Synchrony Financial Buy 58,000 2.69
CIXXF - Ci Finl Corp Buy 28,700 0.40
MEOH - Methanex Corp. Buy 4,000 0.21
BRK.A - Berkshire Hathaway CL A Reduce 20.00% 20 8.05
RFP - Resolute Fst Prods Inc Reduce 86.84% 1,725,000 34.15
JPM - JPMorgan Chase & Co. Sell 100.00% 24,275 2.51
GS - Goldman Sachs Group Sell 100.00% 7,100 2.06
PKX - Posco Holdings Inc Sell 100.00% 21,000 0.76
GNUS - Genius Brands Intl Inc Sell 100.00% 341,303 0.20
Q3 2022
HTZWW - Hertz Global Hldgs Inc. WTS Buy 97,309 0.85
BBBY - Overstock Com Inc Reduce 12.76% 5,616 0.14
BB - BlackBerry Ltd. Reduce 18.28% 70,000 0.36
RFP - Resolute Fst Prods Inc Reduce 35.85% 1,110,000 13.67
Q2 2022
BBBY - Overstock Com Inc Buy 44,021 1.06
PKX - Posco Holdings Inc Buy 21,000 0.90
GNUS - Genius Brands Intl Inc Buy 341,303 0.25
BHC - Bausch Health Cos Inc Reduce 6.54% 50,000 0.84
MGA - Magna International Inc. Reduce 50.00% 10,000 0.48
MBI - MBIA Inc. Reduce 66.72% 400,000 4.54
Q1 2022
JPM - JPMorgan Chase & Co. Reduce 29.18% 10,000 1.10
PKX - Posco Sell 100.00% 21,000 0.85
Q4 2021
RFP - Resolute Fst Prods Inc Reduce 6.15% 203,000 1.52
BHC - Bausch Health Cos Inc Reduce 48.83% 730,000 12.78
WFC - Wells Fargo Reduce 88.47% 150,000 4.38
Q3 2021
BB - BlackBerry Ltd. Reduce 4.28% 17,100 0.12
RFP - Resolute Fst Prods Inc Reduce 16.27% 641,000 4.57
Q2 2021
RFP - Resolute Fst Prods Inc Reduce 13.58% 619,000 3.93
C - Citigroup Inc. Reduce 14.77% 10,000 0.42
GS - Goldman Sachs Group Reduce 49.29% 6,900 1.31
BAC - Bank of America Corp. Sell 100.00% 8,376 0.19
Q1 2021
LBTYA - Liberty Global Ltd CL A Buy 12,000 0.18
RFP - Resolute Fst Prods Inc Reduce 0.27% 12,500 0.06
BHC - Bausch Health Cos Inc Reduce 2.86% 43,992 0.70
MBI - MBIA Inc. Reduce 3.23% 20,000 0.10
BB - BlackBerry Ltd. Reduce 6.77% 29,040 0.15
WFC - Wells Fargo Reduce 19.09% 40,000 0.93
GS - Goldman Sachs Group Reduce 22.22% 4,000 0.81
BAC - Bank of America Corp. Reduce 54.42% 10,000 0.23
DVA - DaVita HealthCare Partners Sell 100.00% 10,743 0.97
Q4 2020
MBI - MBIA Inc. Reduce 5.06% 33,001 0.19
GS - Goldman Sachs Group Reduce 10.00% 2,000 0.38
DVA - DaVita HealthCare Partners Reduce 52.76% 12,000 0.98
SAVEQ - Spirit Airls Inc Sell 100.00% 50,000 0.77
ALGT - Allegiant Travel Company Sell 100.00% 4,317 0.49
Q2 2020
BHC - Bausch Health Cos Inc Reduce 1.28% 20,000 0.31
BB - BlackBerry Ltd. Reduce 18.90% 100,000 0.41
DVA - DaVita HealthCare Partners Reduce 30.54% 10,000 0.76
BRK.A - Berkshire Hathaway CL A Reduce 33.33% 50 13.61
SNY - Sanofi Aventis Sell 100.00% 20,000 0.87
Q1 2020
BHC - Bausch Health Cos Inc Reduce 3.71% 60,000 1.04
JPM - JPMorgan Chase & Co. Reduce 22.59% 10,000 0.81
BAC - Bank of America Corp. Reduce 35.24% 10,000 0.20
DVA - DaVita HealthCare Partners Reduce 67.50% 68,000 2.97
Q4 2019
BHC - Bausch Health Cos Inc Reduce 1.82% 30,000 0.40
DVA - DaVita HealthCare Partners Reduce 16.56% 20,000 0.70
WFC - Wells Fargo Reduce 38.29% 130,000 4.04
BAC - Bank of America Corp. Reduce 69.61% 65,000 1.17
ENDPQ - Endo Intl Plc Sell 100.00% 380,000 0.75
TEVA - Teva Pharmaceutical Industries Ltd. Sell 100.00% 15,000 0.06
Q3 2019
WFC - Wells Fargo Reduce 21.86% 95,000 2.13
MBI - MBIA Inc. Reduce 31.50% 300,000 1.32
C - Citigroup Inc. Reduce 47.93% 62,305 2.07
ENDPQ - Endo Intl Plc Reduce 56.82% 500,000 0.98
JPM - JPMorgan Chase & Co. Reduce 59.48% 65,000 3.44
GS - Goldman Sachs Group Reduce 60.00% 30,000 2.90
SHOS - Sears Hometown & Outlet Stor Sell 100.00% 1,296,960 1.46
Q2 2019
SHOS - Sears Hometown & Outlet Stor Reduce 0.38% 5,000 0.00
DVA - DaVita HealthCare Partners Reduce 14.21% 20,000 0.48
SNY - Sanofi Aventis Reduce 91.94% 228,000 4.50
Q1 2019
SNY - Sanofi Aventis Reduce 16.78% 50,000 1.04
ASCMA - Ascent Cap Group Inc Sell 100.00% 149,104 0.03
SHLDQ - Sears Hldgs Corp Sell 100.00% 99,135 0.01
Q4 2018
MGA - Magna International Inc. Buy 20,000 0.43
STLA - Stellantis N.V. Buy 30,000 0.21
MBI - MBIA Inc. Reduce 0.58% 5,566 0.02
SHOS - Sears Hometown & Outlet Stor Reduce 0.76% 10,000 0.01
SNY - Sanofi Aventis Reduce 17.22% 62,000 1.00
ASCMA - Ascent Cap Group Inc Reduce 44.36% 118,896 0.08
SHLDQ - Sears Hldgs Corp Reduce 80.38% 406,246 0.14
Q3 2018
BHC - Bausch Health Cos Inc Buy 1,648,992 15.33
WFC - Wells Fargo Buy 434,542 8.27
JPM - JPMorgan Chase & Co. Buy 109,275 4.46
BAC - Bank of America Corp. Buy 93,376 1.00
SHOS - Sears Hometown & Outlet Stor Reduce 0.78% 10,249 0.01
MBI - MBIA Inc. Reduce 11.35% 122,700 0.50
SNY - Sanofi Aventis Reduce 12.20% 50,000 0.90
ASCMA - Ascent Cap Group Inc Reduce 12.42% 38,000 0.05
GS - Goldman Sachs Group Reduce 33.33% 25,000 2.49
C - Citigroup Inc. Reduce 38.10% 80,000 2.42
SHLDQ - Sears Hldgs Corp Reduce 55.34% 626,229 0.67
WFC.WS - Wells Fargo & Co New Sell 100.00% 997,500 9.93
JPM.WS - Jpmorgan Chase & Co Sell 100.00% 166,977 4.79
NOK - Nokia Corp. Sell 100.00% 650,000 1.69
BAC.WS.A - Bank Amer Corp Sell 100.00% 149,476 1.10
BBBY - Overstock Com Inc Del Sell 100.00% 6,650 0.10
Q2 2018
DVA - DaVita HealthCare Partners Buy 140,743 4.42
SAVEQ - Spirit Airls Inc Buy 50,000 0.82
ALGT - Allegiant Travel Company Buy 4,317 0.27
RFP - Resolute Fst Prods Inc Reduce 0.54% 24,872 0.10
NOK - Nokia Corp. Reduce 23.53% 200,000 0.53
SD - SandRidge Energy Inc. Sell 100.00% 135,903 0.96
Q1 2018
ENDPQ - Endo Intl Plc Add 1,000.00% 800,000 2.30
Q4 2017
RFP - Resolute Fst Prods Inc Reduce 7.39% 366,591 0.78
SD - SandRidge Energy Inc. Reduce 13.23% 20,720 0.18
JPM.WS - Jpmorgan Chase & Co Reduce 54.42% 199,370 4.53
BAC.WS.A - Bank Amer Corp Reduce 65.78% 287,349 1.61
RYAAY - Ryanair Holdings PLC Reduce 72.40% 12,000 0.54
ENDPQ - Endo Intl Plc Reduce 91.58% 870,000 3.14
TEVA - Teva Pharmaceutical Industries Ltd. Reduce 97.03% 490,000 3.63
BBBY - Overstock Com Inc Del Reduce 97.68% 280,000 3.50
CBI - Chicago Bridge & Iron Co N V Sell 100.00% 67,446 0.48
Q3 2017
BAC.WS.A - Bank Amer Corp Reduce 18.63% 100,000 0.45
NOK - Nokia Corp. Reduce 32.00% 400,000 0.93
C - Citigroup Inc. Reduce 32.26% 100,000 2.53
JPM.WS - Jpmorgan Chase & Co Reduce 41.51% 260,000 4.94
BBBY - Overstock Com Inc Del Reduce 50.77% 295,621 1.82
SRSCQ - Sears Cda Inc Sell 100.00% 775,149 0.20
GM.WS.B - General Mtrs Co Sell 100.00% 13,019 0.09
Q2 2017
TEVA - Teva Pharmaceutical Industries Ltd. Add 134.88% 290,000 3.64
C - Citigroup Inc. Reduce 24.39% 100,000 2.21
NOK - Nokia Corp. Reduce 54.55% 1,500,000 3.01
Q1 2017
SD - SandRidge Energy Inc. Add 224.67% 108,383 0.74
ENDPQ - Endo Intl Plc Buy 950,000 3.92
TEVA - Teva Pharmaceutical Industries Ltd. Buy 215,000 2.55
NOK - Nokia Corp. Reduce 26.67% 1,000,000 1.74
BAC.WS.A - Bank Amer Corp Reduce 35.85% 300,000 1.08
JPM.WS - Jpmorgan Chase & Co Reduce 44.39% 500,000 8.02
AZN - AstraZeneca PLC Sell 100.00% 6,500 0.26
AP47 - Glaxosmithkline Plc Sell 100.00% 18,000 0.13
Q4 2016
RFP - Resolute Fst Prods Inc Add 1.20% 58,671 0.11
SD - SandRidge Energy Inc. Buy 48,240 0.41
ASCMA - Ascent Cap Group Inc Reduce 10.00% 34,000 0.34
SHLDQ - Sears Hldgs Corp Reduce 20.96% 300,000 1.50
BP - BP plc Sell 100.00% 10,000 0.15
Q2 2016
SHLDQ - Sears Hldgs Corp Add 38.77% 400,000 2.39
ASCMA - Ascent Cap Group Inc Buy 340,000 2.30
CBI - Chicago Bridge & Iron Co N V Buy 67,446 1.02
GM.WS.B - General Mtrs Co Buy 13,019 0.06
Q1 2016
SHLDQ - Sears Hldgs Corp Add 15.12% 135,522 0.95
RFP - Resolute Fst Prods Inc Add 4.25% 199,843 0.50
BRK.A - Berkshire Hathaway CL A Reduce 50.00% 150 10.52
Q4 2015
RFP - Resolute Fst Prods Inc Add 9.90% 423,691 1.14
RYAAY - Ryanair Holdings PLC Buy 16,575 0.51
73HK - Ryanair Hldgs Plc Sell 100.00% 17,000 0.48
Q3 2015
CYD - China Yuchai Intl Ltd. Add 187.29% 47,827 0.22
RFP - Resolute Fst Prods Inc Add 4.90% 200,000 0.60
PKX - Posco Buy 21,000 0.26
NOK - Nokia Corp. Reduce 25.00% 1,250,000 1.98
ASCMA - Ascent Cap Group Inc Sell 100.00% 140,000 1.84
CBI - Chicago Bridge & Iron Co N C Sell 100.00% 67,446 1.04
Q2 2015
CHT - Chunghwa Telecom Co Ltd Sell 100.00% 132,088 1.12
SHLWQ - Sears Hldgs Corp Sell 100.00% 581 0.00
Q1 2015
ASCMA - Ascent Cap Group Inc Buy 140,000 1.47
SHLWQ - Sears Hldgs Corp Buy 581 0.00
Q4 2014
SHOS - Sears Hometown & Outlet Stor Add 48.53% 432,039 1.50
SHLDQ - Sears Hldgs Corp Add 11.52% 92,562 0.80
JPM.WS - Jpmorgan Chase & Co Buy 1,126,347 6.17
SRSCQ - Sears Cda Inc Buy 775,149 1.97
CBI - Chicago Bridge & Iron Co N C Buy 67,446 0.75
RFP - Resolute Fst Prods Inc Reduce 0.88% 36,041 0.16
JPM - JPMorgan Chase & Co. Sell 100.00% 1,126,347 6.48
LE - Lands End Inc Sell 100.00% 151,696 1.79
UTSI - Utstarcom Holdings Corp Sell 100.00% 113,627 0.10
VOD - Vodafone Group Plc New Sell 100.00% 5,454 0.05
VZ - Verizon Communications Sell 100.00% 2,630 0.04
Q3 2014
SHOS - Sears Hometown & Outlet Stor Buy 890,170 3.95
LE - Lands End Inc Reduce 37.24% 90,001 0.89
Q2 2014
JPM - JPMorgan Chase & Co. Buy 1,126,347 6.37
LE - Lands End Inc Buy 241,697 2.38
JPM.WS - Jpmorgan Chase & Co Sell 100.00% 1,126,347 6.29
ACT-W - Actavis Plc Sell 100.00% 35,400 2.01
Q1 2014
VOD - Vodafone Group Plc New Buy 5,454 0.06
VZ - Verizon Communications Buy 2,630 0.03
RFP - Resolute Fst Prods Inc Reduce 2.60% 110,000 0.50
VODD - Vodafone Group Plc New Sell 100.00% 10,000 0.11
Q4 2013
NOK - Nokia Corp. Add 900.00% 4,500,000 10.44
BB - BlackBerry Ltd. Add 185.97% 344,040 0.78
RFP - Resolute Fst Prods Inc Add 2.42% 100,000 0.46
ACT-W - Actavis Plc Buy 35,400 1.70
AZN - AstraZeneca PLC Buy 6,500 0.22
AP47 - Glaxosmithkline Plc Buy 18,000 0.14
BBBY - Overstock Com Inc Del Reduce 16.16% 112,200 0.94
DLCA - Dell Inc Sell 100.00% 2,500,000 9.72
TAN - Radioshack Corp Sell 100.00% 794,071 0.76
2S7 - Sprint Corp Sell 100.00% 110,770 0.19
Q3 2013
SHLDQ - Sears Hldgs Corp Add 17.53% 119,826 2.02
RFP - Resolute Fst Prods Inc Add 10.20% 381,909 1.43
BB - BlackBerry Ltd. Buy 185,000 0.41
2S7 - Sprint Corp Buy 110,770 0.19
BBBY - Overstock Com Inc Del Reduce 36.10% 392,254 3.37
73HK - Ryanair Hldgs Plc Reduce 37.04% 10,000 0.16
NOK - Nokia Corp. Reduce 90.00% 4,500,000 5.13
SPNT - Sprint Nextel Corp Sell 100.00% 423,200 0.91
RIIG - Research In Motion Ltd Sell 100.00% 185,000 0.59
Q2 2013
RFP - Resolute Fst Prods Inc Add 35.72% 985,730 3.96
BRK.A - Berkshire Hathaway CL A Buy 300 15.41
BBBY - Overstock Com Inc Del Buy 1,086,725 9.34
SNY - Sanofi Aventis Buy 410,000 6.43
C - Citigroup Inc. Buy 410,000 5.99
NOK - Nokia Corp. Buy 5,000,000 5.70
73HK - Ryanair Hldgs Plc Buy 27,000 0.42
BP - BP plc Buy 10,000 0.13
UTSI - Utstarcom Holdings Corp Buy 113,627 0.09
GS - Goldman Sachs Group Reduce 34.78% 40,000 2.98
TAN - Radioshack Corp Reduce 38.64% 500,000 0.85
SPNT - Sprint Nextel Corp Reduce 73.93% 1,200,000 3.78
Q1 2013
RFP - Resolute Fst Prods Inc Reduce 4.00% 114,876 0.75
RIIG - Research In Motion Ltd Reduce 7.50% 15,000 0.09
SPNT - Sprint Nextel Corp Com Ser 1 Reduce 23.55% 500,000 1.41
GS - Goldman Sachs Group Reduce 30.30% 50,000 3.16
WATS - Watson Pharmaceuticals Inc Sell 100.00% 335,400 14.31
SYA - Symetra Finl Corp Sell 100.00% 124,000 0.80
Q4 2012
DLCA - Dell Inc Add 66.67% 1,000,000 5.02
MBI - MBIA Inc. Buy 1,080,797 4.21
JPM.WS - Jpmorgan Chase & Co W Exp 10/28/201 Reduce 2.85% 33,072 1.29
RFP - Resolute Fst Prods Inc Reduce 6.13% 187,772 0.67
SPNT - Sprint Nextel Corp Com Ser 1 Reduce 32.02% 1,000,000 1.52
BAC.WS.A - Bank Of America Corporation W Exp 01/16/201 Reduce 80.72% 3,504,637 3.40
ODP - Office Depot Inc Sell 100.00% 1,303,301 0.92
GAP - Gap Inc Del Sell 100.00% 83,590 0.82
Q3 2012
JPM.WS - Jpmorgan Chase & Co W Exp 10/28/201 Add 2.94% 33,072 1.29
DLCA - Dell Inc Buy 1,500,000 4.06
RIIG - Research In Motion Ltd Buy 200,000 0.41
SYA - Symetra Finl Corp Reduce 28.74% 50,000 0.20
WATS - Watson Pharmaceuticals Inc Reduce 37.36% 200,000 4.72
GAP - Gap Inc Del Reduce 37.43% 50,000 0.44
SPNT - Sprint Nextel Corp Com Ser 1 Reduce 48.99% 3,000,000 3.12
BRK.A - Berkshire Hathaway CL A Sell 100.00% 300 11.95
BBBY - Overstock Com Inc Del Sell 100.00% 2,310,209 5.09
SNY - Sanofi Aventis Sell 100.00% 410,000 4.94
FSR - Flagstone Reinsurance Holdin Sell 100.00% 1,500,000 3.83
C - Citigroup Inc. Sell 100.00% 410,000 3.58
NOK - Nokia Corp. Sell 100.00% 5,030,000 3.32
SKM - Sk Telecom Ltd Sell 100.00% 170,000 0.66
UTSI - Utstarcom Holdings Corp Sell 100.00% 1,247,051 0.47
USG - Usg Corp Sell 100.00% 54,039 0.33
73HK - Ryanair Hldgs Plc Sell 100.00% 27,000 0.26
BP - BP plc Sell 100.00% 10,000 0.13
Q2 2012
NOK - Nokia Corp. Add 16,666.67% 5,000,000 3.30
RFP - Resolute Fst Prods Inc Buy 3,062,268 11.31
USG - Usg Corp Buy 54,039 0.33
JPM.WS - Jpmorgan Chase & Co Reduce 11.96% 153,076 0.67
BAC.WS.A - Bank Of America Corporation Reduce 37.54% 2,608,938 3.96
GAP - Gap Inc Del Reduce 64.42% 241,900 2.06
QXMCF - Qiao Xing Mobile Comm Co Ltd Sell 100.00% 1,584,397 0.52
Q1 2012
SHLDQ - Sears Hldgs Corp Add 17.13% 100,000 2.16
WATS - Watson Pharmaceuticals Inc Reduce 15.74% 100,000 2.39
BAC.WS.A - Bank Of America Corporation Reduce 22.35% 2,000,000 1.60
ODP - Office Depot Inc Reduce 44.50% 1,045,200 0.89
Q4 2011
QXMCF - Qiao Xing Mobile Comm Co Ltd Add 116.26% 851,764 0.34
C - Citigroup Inc. Add 90.53% 194,809 2.03
BAC.WS.A - Bank Of America Corporation Add 39.85% 2,550,400 2.04
TAN - Radioshack Corp Add 29.41% 294,071 1.13
SHLDQ - Sears Hldgs Corp Add 20.67% 100,000 1.26
CYD - China Yuchai Intl Ltd. Add 0.44% 111 0.00
UTSI - Utstarcom Holdings Corp Buy 1,247,051 0.68
CRYP - Cryptologic Limited Sell 100.00% 45,100 0.02
Q3 2011
ODP - Office Depot Inc Add 530.46% 1,975,998 1.56
GAP - Gap Inc Del Add 180.85% 241,790 1.51
JPM.WS - Jpmorgan Chase & Co Add 63.84% 498,510 1.79
BAC.WS.A - Bank Of America Corporation Add 45.45% 2,000,000 2.09
GS - Goldman Sachs Group Add 43.48% 50,000 1.82
SHLDQ - Sears Hldgs Corp Add 22.77% 89,723 1.99
BBBY - Overstock Com Inc Del Add 4.08% 90,500 0.32
C - Citigroup Inc. Buy 215,191 2.12
CHT - Chunghwa Telecom Co Ltd Buy 132,088 1.68
QXMCF - Qiao Xing Mobile Comm Co Ltd Buy 732,633 0.28
CYD - China Yuchai Intl Ltd. Buy 25,426 0.14
CRYP - Cryptologic Limited Reduce 24.83% 14,900 0.01
Q2 2011
BRK.A - Berkshire Hathaway CL A Add 57.89% 110 4.46
SHLDQ - Sears Hldgs Corp Add 18.06% 60,277 1.50
BAC.WS.A - Bank Of America Corporation Add 4.76% 200,000 0.39
GS - Goldman Sachs Group Buy 115,000 5.34
TAN - Radioshack Corp Buy 1,000,000 4.64
JPM.WS - Jpmorgan Chase & Co Buy 780,913 3.67
GAP - Gap Inc Del Buy 133,700 0.84
ICO - International Coal Grp Inc N Sell 100.00% 400,020 1.92
Q1 2011
73HK - Ryanair Hldgs Plc Add 35.00% 7,000 0.08
ICO - International Coal Grp Inc N Reduce 83.33% 1,999,980 4.71
KG - King Pharmaceuticals Inc Sell 100.00% 6,025,300 25.77
Q4 2010
WFC.WS - Wells Fargo & Co New Buy 997,500 3.37
KG - King Pharmaceuticals Inc Reduce 10.44% 702,600 2.16
ICO - International Coal Grp Inc N Reduce 20.00% 600,000 0.98
4107485Q - Valeant Pharmaceuticals Intl Sell 100.00% 1,437,200 11.96
Q3 2010
BAC.WS.A - Bank Of America Corporation Add 250.00% 3,000,000 6.00
4107485Q - Valeant Pharmaceuticals Intl Buy 1,437,200 11.96
FSR - Flagstone Reinsurance Holdin Buy 1,500,000 4.90
SNY - Sanofi Aventis Reduce 19.61% 100,000 1.12
BVFF - Biovail Corp Sell 100.00% 1,937,200 13.89
KSWS - K-Swiss Inc Sell 100.00% 18,674 0.08
Q2 2010
NOK - Nokia Corp. Add 100.00% 15,000 0.05
BAC.WS.A - Bank Of America Corporation Buy 1,200,000 3.42
BP - BP plc Buy 10,000 0.11
VODD - Vodafone Group Plc New Buy 10,000 0.08
KG - King Pharmaceuticals Inc Reduce 1.46% 100,000 0.33
BVFF - Biovail Corp Reduce 9.36% 200,000 0.95
WATS - Watson Pharmaceuticals Inc Reduce 9.92% 70,000 0.83
ODP - Office Depot Inc Reduce 68.23% 800,000 1.81
KSWS - K-Swiss Inc Reduce 96.05% 454,046 1.34
RCNI - Rcn Corp Sell 100.00% 1,700,884 7.25
QWC - Qwest Communications Intl In Sell 100.00% 2,000,000 2.95
Q1 2010
SPNT - Sprint Nextel Corp Add 53.08% 2,123,200 0.29
SYA - Symetra Finl Corp Buy 174,000 0.65
BVFF - Biovail Corp Reduce 4.47% 100,000 0.44
KG - King Pharmaceuticals Inc Reduce 5.64% 408,200 1.59
ODP - Office Depot Inc Reduce 20.35% 299,550 0.61
UTMD - Utah Med Prods Inc Sell 100.00% 6,535 0.06
Q4 2009
SPNT - Sprint Nextel Corp Buy 4,000,000 4.63
73HK - Ryanair Hldgs Plc Buy 20,000 0.17
NOK - Nokia Corp. Buy 15,000 0.06
SNY - Sanofi Aventis Reduce 8.93% 50,000 0.64
UTMD - Utah Med Prods Inc Reduce 83.62% 33,364 0.34
Q3 2009
BVFF - Biovail Corp Reduce 4.28% 100,000 0.54
UTMD - Utah Med Prods Inc Reduce 33.33% 19,944 0.21
Q2 2009
UTMD - Utah Med Prods Inc Reduce 2.01% 1,227 0.01
WATS - Watson Pharmaceuticals Inc Reduce 12.42% 100,000 1.57
Q1 2009
ICO - International Coal Grp Inc N Buy 3,000,000 2.44
WATS - Watson Pharmaceuticals Inc Reduce 5.85% 50,000 0.58
BVFF - Biovail Corp Reduce 14.61% 400,000 1.64
Q4 2008
SHLDQ - Sears Hldgs Corp Add 42.79% 100,000 1.69
BVFF - Biovail Corp Reduce 5.20% 150,000 0.49
WATS - Watson Pharmaceuticals Inc Reduce 5.52% 50,000 0.48
KG - King Pharmaceuticals Inc Reduce 7.36% 575,000 1.86
BRK.A - Berkshire Hathaway CL A Reduce 9.52% 20 0.88
SPNT - Sprint Nextel Corp Sell 100.00% 729,544 1.50
DISH - Dish Network Corp Sell 100.00% 50,000 0.35
TCADR - Telecom Corp New Zealand Ltd Sell 100.00% 113,777 0.35
HTX - Hutchison Telecomm Intl Ltd Sell 100.00% 20,000 0.11
PTYA - Penn Treaty Amern Corp Sell 100.00% 100,000 0.05
Q3 2008
CRYP - Cryptologic Limited Add 140.00% 35,000 0.06
ODP - Office Depot Inc Add 51.44% 500,000 0.98
SNY - Sanofi Aventis Add 7.69% 40,000 0.44
SHLDQ - Sears Hldgs Corp Reduce 7.52% 19,000 0.44
SUTMQ - Sun-Times Media Group Inc Sell 100.00% 2,522,100 0.39
73HK - Ryanair Hldgs Plc Sell 100.00% 35,000 0.32
CTO - CTO Realty Growth Inc. Sell 100.00% 6,210 0.08
Q2 2008
SKM - SK Telecom Ltd Add 142.86% 100,000 0.66
SNY - Sanofi Aventis Add 62.50% 200,000 2.10
QWC - Qwest Communications Intl In Buy 2,000,000 2.49
73HK - Ryanair Hldgs Plc Buy 35,000 0.32
CTO - CTO Realty Growth Inc. Reduce 64.31% 11,190 0.23
MGA - Magna International Inc. Sell 100.00% 13,400 0.36
Q1 2008
SNY - Sanofi Aventis Add 2,033.33% 305,000 4.22
RCNI - RCN Corp Add 41.64% 500,000 2.06
SHLDQ - Sears Hldgs Corp Add 24.67% 50,000 1.88
BVFF - Biovail Corp Add 11.60% 300,000 1.18
WATS - Watson Pharmaceuticals Inc Add 0.60% 5,400 0.06
ODP - Office Depot Inc Buy 972,053 3.96
KSWS - K-Swiss Inc Buy 472,720 2.75
SKM - SK Telecom Ltd Buy 70,000 0.56
DISH - Dish Network Corp Buy 50,000 0.53
CRYP - Cryptologic Limited Buy 25,000 0.15
BRK.A - Berkshire Hathaway CL A Reduce 46.15% 180 8.58
CTO - CTO Realty Growth Inc. Reduce 51.26% 18,300 0.38
ICO - International Coal Grp Inc N Sell 100.00% 500,000 0.90
EOR - EchoStar Communications New Sell 100.00% 50,000 0.64
Q4 2007
KG - King Pharmaceuticals Inc Buy 7,811,100 26.94
BRK.A - Berkshire Hathaway CL A Buy 390 18.60
BVFF - Biovail Corp Buy 2,587,200 11.75
BBBY - Overstock Com Inc Del Buy 2,219,709 11.61
WATS - Watson Pharmaceuticals Inc Buy 900,000 8.23
SHLDQ - Sears Hldgs Corp Buy 202,700 6.97
RCNI - RCN Corp Buy 1,200,884 6.31
SPNT - Sprint Nextel Corp Buy 729,544 3.23
SUTMQ - Sun-Times Media Group Inc Buy 2,522,100 1.87
ICO - International Coal Grp Inc N Buy 500,000 0.90
CTO - CTO Realty Growth Inc. Buy 35,700 0.75
EOR - EchoStar Communications New Buy 50,000 0.64
TCADR - Telecom Corp New Zealand Ltd Buy 113,777 0.64
UTMD - Utah Med Prods Inc Buy 61,070 0.61
MGA - Magna International Inc. Buy 13,400 0.37
SNY - Sanofi Aventis Buy 15,000 0.23
PTYA - Penn Treaty Amern Corp Buy 100,000 0.22
HTX - Hutchison Telecomm Intl Ltd Buy 20,000 0.15