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 |
ALR
Alere Inc
ALR
|
+$18.2M |
| 2 |
CBI
Chicago Bridge & Iron Nv
CBI
|
+$13M |
| 3 |
CRAY
Cray, Inc.
CRAY
|
+$4.73M |
| 4 |
RPXC
RPX Corporation
RPXC
|
+$3.94M |
| 5 |
Argan
AGX
|
+$3.83M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
IBM
IBM
|
+$55.5M |
| 2 |
US Bancorp
USB
|
+$20.1M |
| 3 |
Jefferies Financial Group
JEF
|
+$5.01M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 46.86% |
| 2 | Materials | 24.31% |
| 3 | Real Estate | 18.66% |
| 4 | Healthcare | 3.89% |
| 5 | Industrials | 2.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
FreightCar America
RAIL
$242M
| $2.15M | 0.18% |
+110,000
| New | +$1.94M |
|
27
Kulicke & Soffa
KLIC
$4.49B
| $2.07M | 0.17% |
+96,000
| New | +$1.93M |
|
28
Jacobs Solutions
J
$17.6B
| $2.04M | 0.17% |
+42,314
| New | +$1.89M |
|
29
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.92M | 0.16% |
7
| – | – |
|
30
Stratasys
SSYS
$692M
| $1.87M | 0.15% |
+81,000
| New | +$1.87M |
|
|
GLBL
31
DELISTED
TerraForm Global, Inc. Class A Common Stock
GLBL
| $1.41M | 0.12% |
+300,000
| New | +$1.49M |
|
|
32
US Bancorp
USB
$96.7B
| $1.24M | 0.1% |
23,200
-384,800
| -94% | -$20.1M |
|
|
KITE
33
DELISTED
Kite Pharma, Inc.
KITE
| $1.1M | 0.09% |
+6,100
| New | +$850K |
|
34
TSMC
TSM
$2.17T
| $1.09M | 0.09% |
+29,000
| New | +$1.06M |
|
35
NetEase
NTES
$82.1B
| $1.05M | 0.09% |
20,000
+5,000
| +33% | +$287K |
|
36
CSX Corp
CSX
$95.6B
| $814K | 0.07% |
45,000
| – | – |
|
|
MON
37
DELISTED
Monsanto Co
MON
| $743K | 0.06% |
6,200
| – | – |
|
38
Stride
LRN
$3.51B
| $591K | 0.05% |
33,133
| – | – |
|
39
Rayonier Advanced Materials
RYAM
$586M
| $479K | 0.04% |
35,000
| – | – |
|
40
New Oriental
EDU
$8.88B
| $442K | 0.04% |
5,000
| – | – |
|
41
Enovis
ENOV
$1.5B
| $416K | 0.03% |
5,810
| – | – |
|
42
General Dynamics
GD
$104B
| $308K | 0.03% |
1,500
| – | – |
|
43
Thermo Fisher Scientific
TMO
$233B
| $254K | 0.02% |
1,344
| – | – |
|
44
Sherwin-Williams
SHW
$84.1B
| $244K | 0.02% |
2,049
| – | – |
|
45
NOV
NOV
$7.28B
| $229K | 0.02% |
6,400
| – | – |
|
|
ARCH
46
DELISTED
Arch Resources, Inc.
ARCH
| $218K | 0.02% |
+3,045
| New | +$228K |
|
|
SRCL
47
DELISTED
Stericycle Inc
SRCL
| $201K | 0.02% |
+2,800
| New | +$206K |
|
|
DEST
48
DELISTED
Destination Maternity Corporation
DEST
| $117K | 0.01% |
70,000
| – | – |
|
Similar funds
Prem Watsa's Q3 2017 Portfolio in Review
As of Q3 2017, Prem Watsa held 48 positions worth $1.22B, up 8.2% from $1.13B the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Prem Watsa's Q3 2017 filing shows 19 new, 2 increased and 3 reduced positions. Its largest new stake was Alere Inc: 365,000 shares worth $18.6M. The largest sale was IBM, an estimated $55.5M.
By sector, the portfolio is most concentrated in Technology at 47% of assets, down from 50% a quarter earlier, followed by Materials and Real Estate.
- Prem Watsa's largest Q3 2017 buy was Alere Inc: 365,000 shares worth $18.6M.
- Prem Watsa added most to NetEase in Q3 2017, an estimated $287K increase.
- Prem Watsa's biggest Q3 2017 reduction was IBM, cutting an estimated $55.5M.
- Prem Watsa's ten largest holdings make up 93% of its $1.22B portfolio in Q3 2017.
- Prem Watsa opened 19 new positions and closed 0 in Q3 2017.
- Prem Watsa's portfolio value rose 8.2% quarter-over-quarter to $1.22B.
Based on Fairfax Financial Holdings's 13F filing for Q3 2017, filed 14 Nov 2017.