13F filing recap · Q1 2016

What did Chou Associates buy in Q1 2016?

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

Stock value

$308.04M

Positions

Estimated turnover

15.7%

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

VRXValeant Pharmaceuticals International, Inc.$25.73Mreported value+976.8K shares

Increased positions

RFPResolute Forest Products Inc$27.06Mreported value+199.8K shares+4.2%SHLDQSears Holdings Corporation$15.81Mreported value+135.5K shares+15.1%

Reduced positions

BRK.ABerkshire Hathaway Inc$32.06Mreported value-150 shares-50.0%