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PW

Prem Watsa Fairfax Financial Holdings

AUM $2.64B
1-Year Est. Return 24.46%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+6.23%
1 Year Est. Return
+24.46%
3 Year Est. Return
+70.73%
5 Year Est. Return
+102.15%
10 Year Est. Return
+491.91%
AUM
$1.31B
AUM Growth
-$289M
Cap. Flow
-$285M
Cap. Flow %
-21.79%
Top 10 Hldgs %
97.24%
Holding
47
New
6
Increased
2
Reduced
3
Closed
5

Top Buys

Rank Stock Value
1
EVAC
EDWARDS GROUP LTD ADR (CYM)
EVAC
+$490K
2
VPHM
VIROPHARMA INC
VPHM
+$447K
3
UPL
Ultra Petroleum Corp. Common Stock
UPL
+$389K
4
HPQ icon
HP
HPQ
+$238K
5
CSX icon
CSX Corp
CSX
+$204K

Top Sells

Rank Stock Value
1
JNJ icon
Johnson & Johnson
JNJ
+$263M
2
DELL
DELL INC
DELL
+$7.16M
3
CTB
Cooper Tire & Rubber Co.
CTB
+$1.16M
4
RUE
RUE21 INC COM STK (DE)
RUE
+$847K
5
XCO
Exco Resources
XCO
+$677K

Sector Composition

Rank Sector Weight
1 Materials 35.7%
2 Technology 29.56%
3 Energy 19.53%
4 Consumer Discretionary 7.55%
5 Financials 2.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VPHM
26
DELISTED
VIROPHARMA INC
VPHM
$498K 0.04%
+10,000
New +$447K
EVAC
27
DELISTED
EDWARDS GROUP LTD ADR (CYM)
EVAC
$494K 0.04%
+48,500
New +$490K
PTEN icon
28
Patterson-UTI
PTEN
$4.71B
$481K 0.04%
19,000
– –
HOLX
29
DELISTED
Hologic
HOLX
$447K 0.03%
20,000
– –
SLM icon
30
SLM Corp
SLM
$4.97B
$394K 0.03%
41,970
– –
MBI icon
31
MBIA
MBI
$250M
$358K 0.03%
30,000
– –
EDU icon
32
New Oriental
EDU
$8.88B
$350K 0.03%
11,100
– –
BP icon
33
BP
BP
$115B
$340K 0.03%
8,558
+2,445
+40% +$91K
STL
34
DELISTED
Sterling Bancorp
STL
$334K 0.03%
25,000
– –
HPQ icon
35
HP
HPQ
$27.2B
$263K 0.02%
+20,699
New +$238K
NEU icon
36
NewMarket
NEU
$8.62B
$251K 0.02%
750
– –
NTP
37
DELISTED
Nam Tai Property Inc.
NTP
$250K 0.02%
35,000
– –
IBM icon
38
IBM
IBM
$222B
$225K 0.02%
1,255
– –
CSX icon
39
CSX Corp
CSX
$95.6B
$219K 0.02%
+22,800
New +$204K
GD icon
40
General Dynamics
GD
$104B
$210K 0.02%
+2,200
New +$196K
PWE
41
DELISTED
Penn West Energy Petroleum Ltd
PWE
$133K 0.01%
+15,900
New +$153K
AIFU
42
AIFU Inc
AIFU
$110M
– –
-113
Closed -$231K
SPRD
43
DELISTED
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
– –
-16,500
Closed -$502K
DELL
44
DELISTED
DELL INC
DELL
– –
-520,000
Closed -$7.16M
RUE
45
DELISTED
RUE21 INC COM STK (DE)
RUE
– –
-21,000
Closed -$847K
ONXX
46
DELISTED
ONYX PHARMACEUTICALS INC
ONXX
– –
-4,500
Closed -$561K
1
2

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Prem Watsa's Q4 2013 Portfolio in Review

As of Q4 2013, Prem Watsa held 47 positions worth $1.31B, down 18% from $1.6B the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Prem Watsa withdrew a net $285M in Q4 2013, closing 5 positions and reducing 3 holdings. Its most notable exit was DELL INC, an estimated $7.16M position sold in full.

By sector, the portfolio is most concentrated in Materials at 36% of assets, up from 24% a quarter earlier, followed by Technology and Energy.

Against the trend, Prem Watsa opened a new position in EDWARDS GROUP LTD ADR (CYM) worth $494K.

  • Prem Watsa's largest Q4 2013 buy was EDWARDS GROUP LTD ADR (CYM): 48,500 shares worth $494K.
  • Prem Watsa added most to Ultra Petroleum Corp. Common Stock in Q4 2013, an estimated $389K increase.
  • Prem Watsa's biggest Q4 2013 reduction was Johnson & Johnson, cutting an estimated $263M.
  • Prem Watsa fully exited DELL INC in Q4 2013, selling an estimated $7.16M.
  • Prem Watsa's ten largest holdings make up 97% of its $1.31B portfolio in Q4 2013.
  • Prem Watsa opened 6 new positions and closed 5 in Q4 2013.
  • Prem Watsa's portfolio value fell 18% quarter-over-quarter to $1.31B.

Based on Fairfax Financial Holdings's 13F filing for Q4 2013, filed 14 Feb 2014.