UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORED OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act file number 811-22394
CHOU AMERICA MUTUAL FUNDS
Three Canal Plaza, Suite 600
Portland, Maine 04101
(207) 347-2000
Francis S.M. Chou, President
Three Canal Plaza, Suite 600
Portland, Maine 04101
(207) 347-2000
Date of fiscal year end:
DECEMBER 31
Chou Opportunity Fund and Chou Income Fund
Date of reporting period: July 1, 2013 - June 30, 2014
ITEM 1. PROXY VOTING RECORD
Chou Opportunity Fund
ASTA FUNDING, INC. | |||||||||||||||||
Security | 046220109 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | ASFI | Meeting Date | 19-Jun-2013 | ||||||||||||||
ISIN | US0462201098 | Agenda | 933830829 - Management | ||||||||||||||
City | Holding Recon Date | 06-May-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 18-Jun-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Election of Directors | Management | |||||||||||||||
1 | GARY STERN | For | For | ||||||||||||||
2 | ARTHUR STERN | For | For | ||||||||||||||
3 | HERMAN BADILLO | For | For | ||||||||||||||
4 | DAVID SLACKMAN | For | For | ||||||||||||||
5 | EDWARD CELANO | For | For | ||||||||||||||
6 | HARVEY LEIBOWITZ | For | For | ||||||||||||||
7 | LOUIS A. PICCOLO | For | For | ||||||||||||||
2. | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
3. | Ratify Shareholder Rights Plan | Management | For | For | |||||||||||||
4. | Miscellaneous Corporate Actions | Management | For | For | |||||||||||||
DELL INC. | |||||||||||||||||
Security | 24702R101 | Meeting Type | Contested-Special | ||||||||||||||
Ticker Symbol | DELL | Meeting Date | 02-Aug-2013 | ||||||||||||||
ISIN | US24702R1014 | Agenda | 933841707 - Management | ||||||||||||||
City | Holding Recon Date | 13-May-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 01-Aug-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Approve Merger Agreement | Management | |||||||||||||||
2. | 14A Extraordinary Transaction Executive Compensation | Management | |||||||||||||||
3. | Approve Motion to Adjourn Meeting | Management | |||||||||||||||
DELL INC. | |||||||||||||||||
Security | 24702R101 | Meeting Type | Contested-Special | ||||||||||||||
Ticker Symbol | DELL | Meeting Date | 02-Aug-2013 | ||||||||||||||
ISIN | US24702R1014 | Agenda | 933853447 - Opposition | ||||||||||||||
City | Holding Recon Date | 13-May-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 01-Aug-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
01 | Approve Merger Agreement | Management | Against | For | |||||||||||||
02 | 14A Executive Compensation | Management | Against | For | |||||||||||||
03 | Approve Motion to Adjourn Meeting | Management | Against | For | |||||||||||||
DELL INC. | |||||||||||||||||
Security | 24702R101 | Meeting Type | Contested-Special | ||||||||||||||
Ticker Symbol | DELL | Meeting Date | 12-Sep-2013 | ||||||||||||||
ISIN | US24702R1014 | Agenda | 933846505 - Management | ||||||||||||||
City | Holding Recon Date | 03-Jun-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 11-Sep-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Miscellaneous Corporate Governance | Management | |||||||||||||||
2. | 14A Extraordinary Transaction Executive Compensation | Management | |||||||||||||||
3. | Approve Motion to Adjourn Meeting | Management | |||||||||||||||
DELL INC. | |||||||||||||||||
Security | 24702R101 | Meeting Type | Contested-Special | ||||||||||||||
Ticker Symbol | DELL | Meeting Date | 12-Sep-2013 | ||||||||||||||
ISIN | US24702R1014 | Agenda | 933852546 - Opposition | ||||||||||||||
City | Holding Recon Date | 03-Jun-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 11-Sep-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
01 | Approve Merger Agreement | Management | Against | For | |||||||||||||
02 | 14A Executive Compensation | Management | Against | For | |||||||||||||
03 | Approve Motion to Adjourn Meeting | Management | Against | For | |||||||||||||
DELL INC. | |||||||||||||||||
Security | 24702R101 | Meeting Type | Contested-Special | ||||||||||||||
Ticker Symbol | DELL | Meeting Date | 12-Sep-2013 | ||||||||||||||
ISIN | US24702R1014 | Agenda | 933868347 - Management | ||||||||||||||
City | Holding Recon Date | 02-Aug-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 11-Sep-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Approve Merger Agreement | Management | For | For | |||||||||||||
2. | 14A Executive Compensation | Management | For | For | |||||||||||||
3. | Approve Motion to Adjourn Meeting | Management | For | For | |||||||||||||
DELL INC. | |||||||||||||||||
Security | 24702R101 | Meeting Type | Contested-Special | ||||||||||||||
Ticker Symbol | DELL | Meeting Date | 12-Sep-2013 | ||||||||||||||
ISIN | US24702R1014 | Agenda | 933868373 - Management | ||||||||||||||
City | Holding Recon Date | 13-Aug-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 11-Sep-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Approve Merger Agreement | Management | For | For | |||||||||||||
2. | 14A Executive Compensation | Management | For | For | |||||||||||||
3. | Approve Motion to Adjourn Meeting | Management | For | For | |||||||||||||
DELL INC. | |||||||||||||||||
Security | 24702R101 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | DELL | Meeting Date | 17-Oct-2013 | ||||||||||||||
ISIN | US24702R1014 | Agenda | 933881004 - Management | ||||||||||||||
City | Holding Recon Date | 10-Sep-2013 | |||||||||||||||
Country | United States | Vote Deadline Date | 16-Oct-2013 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1A | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1B | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1C | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1D | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1E | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1F | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1G | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1H | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1I | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1J | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
2 | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
3 | 14A Executive Compensation | Management | For | For | |||||||||||||
4 | S/H Proposal - Corporate Governance | Shareholder | For | Against | |||||||||||||
ASTA FUNDING, INC. | |||||||||||||||||
Security | 046220109 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | ASFI | Meeting Date | 11-Mar-2014 | ||||||||||||||
ISIN | US0462201098 | Agenda | 933923600 - Management | ||||||||||||||
City | Holding Recon Date | 06-Feb-2014 | |||||||||||||||
Country | United States | Vote Deadline Date | 10-Mar-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Election of Directors | Management | |||||||||||||||
1 | GARY STERN | For | For | ||||||||||||||
2 | ARTHUR STERN | For | For | ||||||||||||||
3 | HERMAN BADILLO | For | For | ||||||||||||||
4 | DAVID SLACKMAN | For | For | ||||||||||||||
5 | EDWARD CELANO | For | For | ||||||||||||||
6 | HARVEY LEIBOWITZ | For | For | ||||||||||||||
7 | LOUIS A. PICCOLO | For | For | ||||||||||||||
2. | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
SEARS CANADA INC. | |||||||||||||||||
Security | 81234D109 | Meeting Type | Annual and Special Meeting | ||||||||||||||
Ticker Symbol | SEARF | Meeting Date | 24-Apr-2014 | ||||||||||||||
ISIN | CA81234D1096 | Agenda | 933948878 - Management | ||||||||||||||
City | Holding Recon Date | 13-Mar-2014 | |||||||||||||||
Country | Canada | Vote Deadline Date | 21-Apr-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
01 | Election of Directors (Majority Voting) | Management | |||||||||||||||
1 | DOUGLAS CAMPBELL | For | For | ||||||||||||||
2 | WILLIAM C. CROWLEY | For | For | ||||||||||||||
3 | TIMOTHY FLEMMING | For | For | ||||||||||||||
4 | WILLIAM R. HARKER | For | For | ||||||||||||||
5 | R. RAJA KHANNA | For | For | ||||||||||||||
6 | JAMES MCBURNEY | For | For | ||||||||||||||
7 | DEBORAH E. ROSATI | For | For | ||||||||||||||
8 | DANITA STEVENSON | For | For | ||||||||||||||
9 | S. JEFFREY STOLLENWERCK | For | For | ||||||||||||||
10 | H. RONALD WEISSMAN | For | For | ||||||||||||||
02 | Approve Remuneration of Directors and Auditors | Management | For | For | |||||||||||||
03 | Amalgamation Plan | Management | For | For | |||||||||||||
04 | Approve Charter Amendment | Management | For | For | |||||||||||||
MBIA INC. | |||||||||||||||||
Security | 55262C100 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | MBI | Meeting Date | 01-May-2014 | ||||||||||||||
ISIN | US55262C1009 | Agenda | 933941557 - Management | ||||||||||||||
City | Holding Recon Date | 07-Mar-2014 | |||||||||||||||
Country | United States | Vote Deadline Date | 30-Apr-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1A. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1B. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1C. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1D. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1E. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1F. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1G. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1H. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
1I. | Election of Directors (Majority Voting) | Management | For | For | |||||||||||||
2. | 14A Executive Compensation | Management | For | For | |||||||||||||
3. | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
SEARS HOLDINGS CORPORATION | |||||||||||||||||
Security | 812350106 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | SHLD | Meeting Date | 06-May-2014 | ||||||||||||||
ISIN | US8123501061 | Agenda | 933946432 - Management | ||||||||||||||
City | Holding Recon Date | 07-Mar-2014 | |||||||||||||||
Country | United States | Vote Deadline Date | 05-May-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Election of Directors | Management | |||||||||||||||
1 | CESAR L. ALVAREZ | For | For | ||||||||||||||
2 | PAUL G. DEPODESTA | For | For | ||||||||||||||
3 | WILLIAM C. KUNKLER, III | For | For | ||||||||||||||
4 | EDWARD S. LAMPERT | For | For | ||||||||||||||
5 | STEVEN T. MNUCHIN | For | For | ||||||||||||||
6 | ANN N. REESE | For | For | ||||||||||||||
7 | THOMAS J. TISCH | For | For | ||||||||||||||
2. | 14A Executive Compensation | Management | For | For | |||||||||||||
3. | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
4. | S/H Proposal - Environmental | Shareholder | For | Against | |||||||||||||
OVERSTOCK.COM, INC. | |||||||||||||||||
Security | 690370101 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | OSTK | Meeting Date | 07-May-2014 | ||||||||||||||
ISIN | US6903701018 | Agenda | 933953045 - Management | ||||||||||||||
City | Holding Recon Date | 18-Mar-2014 | |||||||||||||||
Country | United States | Vote Deadline Date | 06-May-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Election of Directors | Management | |||||||||||||||
1 | ALLISON H. ABRAHAM | For | For | ||||||||||||||
2 | STORMY D. SIMON | For | For | ||||||||||||||
3 | SAMUEL A. MITCHELL | For | For | ||||||||||||||
2. | Approve Charter Amendment | Management | For | For | |||||||||||||
3. | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
4. | 14A Executive Compensation | Management | For | For | |||||||||||||
RESOLUTE FOREST PRODUCTS INC. | |||||||||||||||||
Security | 76117W109 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | RFP | Meeting Date | 23-May-2014 | ||||||||||||||
ISIN | US76117W1099 | Agenda | 933995790 - Management | ||||||||||||||
City | Holding Recon Date | 03-Apr-2014 | |||||||||||||||
Country | Canada | Vote Deadline Date | 22-May-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
01 | Election of Directors | Management | |||||||||||||||
1 | MICHEL P. DESBIENS | For | For | ||||||||||||||
2 | JENNIFER C. DOLAN | For | For | ||||||||||||||
3 | RICHARD D. FALCONER | For | For | ||||||||||||||
4 | RICHARD GARNEAU | For | For | ||||||||||||||
5 | JEFFREY A. HEARN | For | For | ||||||||||||||
6 | BRADLEY P. MARTIN | For | For | ||||||||||||||
7 | ALAIN RHÉAUME | For | For | ||||||||||||||
8 | MICHAEL ROUSSEAU | For | For | ||||||||||||||
9 | DAVID H. WILKINS | For | For | ||||||||||||||
02 | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
03 | 14A Executive Compensation | Management | For | For | |||||||||||||
SEARS HOMETOWN AND OUTLET STORES, INC. | |||||||||||||||||
Security | 812362101 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | SHOS | Meeting Date | 28-May-2014 | ||||||||||||||
ISIN | US8123621018 | Agenda | 933980838 - Management | ||||||||||||||
City | Holding Recon Date | 07-Apr-2014 | |||||||||||||||
Country | United States | Vote Deadline Date | 27-May-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Election of Directors | Management | |||||||||||||||
1 | E.J. BIRD | For | For | ||||||||||||||
2 | JEFFREY FLUG | For | For | ||||||||||||||
3 | JAMES F. GOOCH | For | For | ||||||||||||||
4 | WILLIAM R. HARKER | For | For | ||||||||||||||
5 | W. BRUCE JOHNSON | For | For | ||||||||||||||
6 | JOSEPHINE LINDEN | For | For | ||||||||||||||
2. | 14A Executive Compensation | Management | For | For | |||||||||||||
3. | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
HC2 HLDGS INC. | |||||||||||||||||
Security | 404139107 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | HCHC | Meeting Date | 12-Jun-2014 | ||||||||||||||
ISIN | Agenda | 934015252 - Management | |||||||||||||||
City | Holding Recon Date | 15-Apr-2014 | |||||||||||||||
Country | United States | Vote Deadline Date | 11-Jun-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
01 | Election of Directors | Management | |||||||||||||||
1 | ROBERT M. PONS | For | For | ||||||||||||||
2 | WAYNE BARR, JR. | For | For | ||||||||||||||
3 | PHILIP FALCONE | For | For | ||||||||||||||
02 | 14A Executive Compensation | Management | Against | Against | |||||||||||||
03 | Adopt Stock Option Plan | Management | Against | Against | |||||||||||||
04 | Approve Charter Amendment | Management | For | For | |||||||||||||
05 | Approve Charter Amendment | Management | For | For |
Chou Income Fund
CATALYST PAPER CORPORATION | |||||||||||||||||
Security | 14889B102 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | CYSTF | Meeting Date | 07-May-2014 | ||||||||||||||
ISIN | CA14889B1022 | Agenda | 933962018 - Management | ||||||||||||||
City | Holding Recon Date | 26-Mar-2014 | |||||||||||||||
Country | Canada | Vote Deadline Date | 02-May-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
01 | Election of Directors (Majority Voting) | Management | |||||||||||||||
1 | JOHN BRECKER | For | For | ||||||||||||||
2 | TODD DILLABOUGH | For | For | ||||||||||||||
3 | WALTER A. JONES | For | For | ||||||||||||||
4 | LESLIE T. LEDERER | For | For | ||||||||||||||
5 | JILL LEVERSAGE | For | For | ||||||||||||||
6 | JOE NEMETH | For | For | ||||||||||||||
02 | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
RESOLUTE FOREST PRODUCTS INC. | |||||||||||||||||
Security | 76117W109 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | RFP | Meeting Date | 23-May-2014 | ||||||||||||||
ISIN | US76117W1099 | Agenda | 933995790 - Management | ||||||||||||||
City | Holding Recon Date | 03-Apr-2014 | |||||||||||||||
Country | Canada | Vote Deadline Date | 22-May-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
01 | Election of Directors | Management | |||||||||||||||
1 | MICHEL P. DESBIENS | For | For | ||||||||||||||
2 | JENNIFER C. DOLAN | For | For | ||||||||||||||
3 | RICHARD D. FALCONER | For | For | ||||||||||||||
4 | RICHARD GARNEAU | For | For | ||||||||||||||
5 | JEFFREY A. HEARN | For | For | ||||||||||||||
6 | BRADLEY P. MARTIN | For | For | ||||||||||||||
7 | ALAIN RHÉAUME | For | For | ||||||||||||||
8 | MICHAEL ROUSSEAU | For | For | ||||||||||||||
9 | DAVID H. WILKINS | For | For | ||||||||||||||
02 | Ratify Appointment of Independent Auditors | Management | For | For | |||||||||||||
03 | 14A Executive Compensation | Management | For | For | |||||||||||||
EMERALD PLANTATION HOLDINGS LIMITED | |||||||||||||||||
Security | G30337102 | Meeting Type | Annual | ||||||||||||||
Ticker Symbol | EMEXF | Meeting Date | 23-Jun-2014 | ||||||||||||||
ISIN | KYG303371028 | Agenda | 934042071 - Management | ||||||||||||||
City | Holding Recon Date | 23-May-2014 | |||||||||||||||
Country | Hong Kong | Vote Deadline Date | 20-Jun-2014 | ||||||||||||||
SEDOL(s) | Quick Code | ||||||||||||||||
Item | Proposal | Type | Vote | For/Against Management | |||||||||||||
1. | Receive Directors' Report | Management | For | For |
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CHOU AMERICA MUTUAL FUNDS
By: /s/ Francis Chou_____________
Francis S.M. Chou, President and Principal Executive Officer
Date: August 22, 2014