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Chou Associates Management
> FSR
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 06/30/2010 | Flagstone Reinsurance Holdings, S.A. | FSR | 1,500,000 | 0 | 16,230,000 | -960,000 | $10.82 |
| 03/31/2010 | Flagstone Reinsurance Holdings, S.A. | FSR | 1,500,000 | 0 | 17,190,000 | 780,000 | $11.46 |
| 12/31/2009 | Flagstone Reinsurance Holdings, S.A. | FSR | 1,500,000 | 0 | 16,410,000 | -510,000 | $10.94 |
| 09/30/2009 | Flagstone Reinsurance Holdings, S.A. | FSR | 1,500,000 | -200,000 | 16,920,000 | -590,000 | $11.28 |
| 06/30/2009 | Flagstone Reinsurance Holdings, S.A. | FSR | 1,700,000 | -510,946 | 17,510,000 | 131,000 | $10.30 |
| 03/31/2009 | Flagstone Reinsurance Holdings, S.A. | FSR | 2,210,946 | -385,212 | 17,379,000 | -7,918,000 | $7.86 |
| 12/31/2008 | Flagstone Reinsurance Holdings, S.A. | FSR | 2,596,158 | -150,000 | 25,297,000 | -3,513,000 | $9.74 |
| 09/30/2008 | Flagstone Reinsurance Holdings, S.A. | FSR | 2,746,158 | -253,842 | 28,810,000 | -6,836,000 | $10.49 |
| 06/30/2008 | Flagstone Reinsurance Holdings, S.A. | FSR | 3,000,000 | 0 | 35,646,000 | -663,000 | $11.88 |
| 03/31/2008 | Flagstone Reinsurance Holdings, S.A. | FSR | 3,000,000 | 0 | 36,309,000 | -5,429,000 | $12.10 |
| 12/31/2007 | Flagstone Reinsurance Holdings, S.A. | FSR | 3,000,000 | 3,000,000 | 41,738,000 | 41,738,000 | $13.91 |
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