13F filing recap · Q2 2012

What did Chou Associates buy in Q2 2012?

Reported stock-position changes between this filing and the previous one.

Stock value

$328.21M

Positions

Estimated turnover

30.1%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

RFPResolute Forest Products Inc$35.46Mreported value+3.06M shares USGUsg Corporation$1.03Mreported value+54.0K shares

Increased positions

NOKNokia Corp$10.41Mreported value+5.00M shares+16666.7%

Reduced positions

BAC WS ABank of America Corp$15.32Mreported value-2.61M shares-37.5%JPMJPMorgan Chase & Co$11.00Mreported value-153.1K shares-12.0%GAPGap, Inc$3.65Mreported value-241.9K shares-64.4%

Exited positions

ABHAbitibibowater Inc$38.02Mprior reported value-2.66M shares-100.0%QXMQiao Xing Mobile Communication Co Ltd$1.58Mprior reported value-1.58M shares-100.0%