Prem Watsa Fairfax Financial Holdings
Prem Watsa is the founder and chairman of Fairfax Financial Holdings, a Canada-based insurance and investment company frequently compared to a Berkshire-style model. Fairfax combines underwriting operations with a value-oriented investment portfolio managed with a long-term horizon. Watsa is known for contrarian positioning, careful attention to insurance float, and candid annual letters.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eldorado Gold
EGO
|
+$448M |
| 2 |
ORLA
Orla Mining
ORLA
|
+$354M |
| 3 |
The Kraft Heinz Company
KHC
|
+$209M |
| 4 |
Wendy's
WEN
|
+$33.9M |
| 5 |
Molson Coors Class B
TAP
|
+$23.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kennedy-Wilson Holdings
KW
|
+$144M |
| 2 |
BlackBerry
BB
|
+$113M |
| 3 |
Garrett Motion
GTX
|
+$2.27M |
| 4 |
Priority Technology Holdings
PRTH
|
+$333K |
| 5 |
Magnachip Semiconductor
MX
|
+$303K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 43.05% |
| 2 | Consumer Discretionary | 20.18% |
| 3 | Consumer Staples | 15.74% |
| 4 | Healthcare | 13.13% |
| 5 | Industrials | 2.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ORLA
1
DELISTED
Orla Mining
ORLA
| $568M | 21.55% |
58,399,504
+26,582,275
| +84% | +$354M |
2022 Q3
15 quarters
|
|
|
2
Eldorado Gold
EGO
$9.37B
| $427M | 16.18% |
+13,746,506
| New | +$448M |
2026 Q2
0 quarters
|
|
|
3
The Kraft Heinz Company
KHC
$28.1B
| $338M | 12.8% |
14,306,500
+9,038,300
| +172% | +$209M |
2024 Q3
7 quarters
|
|
4
Under Armour
UAA
$2.04B
| $290M | 10.98% |
45,356,965
+2,356,093
| +5% | +$14M |
2024 Q2
8 quarters
|
|
5
CVS Health
CVS
$118B
| $281M | 10.63% |
2,712,000
| – | – |
2024 Q4
6 quarters
|
|
6
Cleveland-Cliffs
CLF
$6.91B
| $140M | 5.3% |
14,899,273
| – | – |
2024 Q4
6 quarters
|
|
7
Under Armour Class C
UA
$1.99B
| $137M | 5.18% |
21,999,128
| – | – |
2025 Q4
2 quarters
|
|
|
8
Molson Coors Class B
TAP
$7.37B
| $77.7M | 2.94% |
1,994,500
+556,000
| +39% | +$23.2M |
2024 Q4
6 quarters
|
|
9
ATS Corp
ATS
$1.78B
| $70.5M | 2.67% |
2,486,400
| – | – |
2024 Q3
7 quarters
|
|
|
10
Wendy's
WEN
$1.28B
| $66.3M | 2.51% |
8,005,627
+4,736,725
| +145% | +$33.9M |
2026 Q1
1 quarter
|
|
11
TSMC
TSM
$2.14T
| $44.7M | 1.69% |
93,700
| – | – |
2017 Q3
35 quarters
|
|
12
Helmerich & Payne
HP
$3.74B
| $38.5M | 1.46% |
1,174,105
| – | – |
2015 Q1
45 quarters
|
|
13
Scotiabank
BNS
$111B
| $31.2M | 1.18% |
359,100
| – | – |
2018 Q4
30 quarters
|
|
14
General Motors
GM
$73.7B
| $29M | 1.1% |
375,965
| – | – |
2018 Q2
32 quarters
|
|
15
Pfizer
PFE
$169B
| $25.1M | 0.95% |
1,043,900
+53,000
| +5% | +$1.39M |
2020 Q4
22 quarters
|
|
16
Merck
MRK
$360B
| $22.2M | 0.84% |
172,900
| – | – |
2020 Q4
22 quarters
|
|
17
Johnson & Johnson
JNJ
$616B
| $18.6M | 0.71% |
73,400
| – | – |
2013 Q2
52 quarters
|
|
18
Kaspi.kz JSC
KSPI
$17.7B
| $9.18M | 0.35% |
+106,000
| New | +$8.99M |
2026 Q2
0 quarters
|
|
19
Rogers Communications
RCI
$17.3B
| $4.87M | 0.18% |
+150,200
| New | +$5.42M |
2026 Q2
0 quarters
|
|
|
20
Garrett Motion
GTX
$4.56B
| $3.72M | 0.14% |
102,783
-81,677
| -44% | -$2.27M |
2021 Q2
20 quarters
|
|
21
Canadian National Railway
CNI
$73.6B
| $2.95M | 0.11% |
24,800
| – | – |
2025 Q4
2 quarters
|
|
22
Colliers International
CIGI
$4.62B
| $2.33M | 0.09% |
25,000
| – | – |
2019 Q4
26 quarters
|
|
23
DELISTED
Warner Bros
WBD
| $2.18M | 0.08% |
81,900
+24,000
| +41% | +$649K |
2026 Q1
1 quarter
|
|
24
Domino's
DPZ
$10.2B
| $2.14M | 0.08% |
+7,230
| New | +$2.38M |
2026 Q2
0 quarters
|
|
25
Capri Holdings
CPRI
$1.81B
| $1.45M | 0.06% |
78,100
| – | – |
2023 Q3
11 quarters
|
|
Similar funds
Prem Watsa's Q2 2026 Portfolio in Review
As of Q2 2026, Prem Watsa held 35 positions worth $2.64B, up 36% from $1.94B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Prem Watsa deployed $841M of net new capital in Q2 2026, opening 6 new positions and adding to 7 existing holdings. Its largest new stake was Eldorado Gold: 13,746,506 shares worth $427M.
By sector, the portfolio is most concentrated in Materials at 43% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.
On the sell side, the largest reduction was Garrett Motion, an estimated $2.27M trimmed.
- Prem Watsa's largest Q2 2026 buy was Eldorado Gold: 13,746,506 shares worth $427M.
- Prem Watsa added most to Orla Mining in Q2 2026, an estimated $354M increase.
- Prem Watsa's biggest Q2 2026 reduction was Garrett Motion, cutting an estimated $2.27M.
- Prem Watsa fully exited Kennedy-Wilson Holdings in Q2 2026, selling an estimated $144M.
- Prem Watsa's ten largest holdings make up 91% of its $2.64B portfolio in Q2 2026.
- Prem Watsa opened 6 new positions and closed 3 in Q2 2026.
- Prem Watsa's portfolio value rose 36% quarter-over-quarter to $2.64B.
Based on Fairfax Financial Holdings's 13F filing for Q2 2026, filed 14 Aug 2026.