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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
+3.85%
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
$1.84B
AUM Growth
-$170M
Cap. Flow
-$792M
Cap. Flow %
-43%
Top 10 Hldgs %
96.8%
Holding
45
New
6
Increased
5
Reduced
4
Closed
11

Top Buys

Rank Stock Value
1
MDR
McDermott International
MDR
+$13.3M
2
GE icon
GE Aerospace
GE
+$6.83M
3
GM icon
General Motors
GM
+$3.17M
4
LUMN icon
Lumen
LUMN
+$2.03M
5
ATCO
Atlas Corp.
ATCO
+$1.92M

Top Sells

Rank Stock Value
1
USG
Usg
USG
+$61.9M
2
IPI icon
Intrepid Potash
IPI
+$60.5M
3
CBI
Chicago Bridge & Iron Nv
CBI
+$12.2M
4
RPXC
RPX Corporation
RPXC
+$4.7M
5
PGH
Pengrowth Energy Corporation
PGH
+$2.01M

Sector Composition

Rank Sector Weight
1 Technology 27.04%
2 Materials 18%
3 Real Estate 15.29%
4 Industrials 2.29%
5 Communication Services 2.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ICD
26
DELISTED
Independence Contract Drilling, Inc.
ICD
$1.48M 0.08%
18,000
– –
SHPG
27
DELISTED
Shire pic
SHPG
$1.25M 0.07%
+7,400
New +$1.19M
IRBT
28
DELISTED
iRobot
IRBT
$1.14M 0.06%
15,000
– –
TSM icon
29
TSMC
TSM
$2.17T
$1.06M 0.06%
29,000
– –
CALL
30
DELISTED
magicJack VocalTec Ltd
CALL
$1.04M 0.06%
+122,450
New +$1.03M
LRN icon
31
Stride
LRN
$3.51B
$542K 0.03%
33,133
– –
DEST
32
DELISTED
Destination Maternity Corporation
DEST
$406K 0.02%
70,000
– –
BRK.A icon
33
Berkshire Hathaway Class A
BRK.A
$1.06T
$282K 0.02%
1
– –
BRK.B icon
34
Berkshire Hathaway Class B
BRK.B
$1.06T
– –
-6,000
Closed -$1.2M
IPI icon
35
Intrepid Potash
IPI
$525M
– –
-1,666,667
Closed -$60.5M
USB icon
36
US Bancorp
USB
$96.7B
– –
-23,200
Closed -$1.17M
WFC icon
37
Wells Fargo
WFC
$254B
– –
-35,800
Closed -$1.88M
USG
38
DELISTED
Usg
USG
– –
-1,530,522
Closed -$61.9M
SCG
39
DELISTED
Scana
SCG
– –
-30,000
Closed -$1.13M
WGL
40
DELISTED
Wgl Holdings
WGL
– –
-14,000
Closed -$1.17M
RPXC
41
DELISTED
RPX Corporation
RPXC
– –
-440,000
Closed -$4.7M
MON
42
DELISTED
Monsanto Co
MON
– –
-6,200
Closed -$723K
CBI
43
DELISTED
Chicago Bridge & Iron Nv
CBI
– –
-850,000
Closed -$12.2M
PGH
44
DELISTED
Pengrowth Energy Corporation
PGH
– –
-3,200,000
Closed -$2.01M
1
2

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Prem Watsa's Q2 2018 Portfolio in Review

As of Q2 2018, Prem Watsa held 45 positions worth $1.84B, down 8.4% from $2.01B the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Prem Watsa withdrew a net $792M in Q2 2018, closing 11 positions and reducing 4 holdings. Its most notable exit was Usg, an estimated $61.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 29% a quarter earlier, followed by Materials and Real Estate.

Against the trend, Prem Watsa opened a new position in McDermott International worth $12.9M.

  • Prem Watsa's largest Q2 2018 buy was McDermott International: 655,400 shares worth $12.9M.
  • Prem Watsa added most to GE Aerospace in Q2 2018, an estimated $6.83M increase.
  • Prem Watsa's biggest Q2 2018 reduction was Cray, Inc., cutting an estimated $498K.
  • Prem Watsa fully exited Usg in Q2 2018, selling an estimated $61.9M.
  • Prem Watsa's ten largest holdings make up 97% of its $1.84B portfolio in Q2 2018.
  • Prem Watsa opened 6 new positions and closed 11 in Q2 2018.
  • Prem Watsa's portfolio value fell 8.4% quarter-over-quarter to $1.84B.

Based on Fairfax Financial Holdings's 13F filing for Q2 2018, filed 14 Aug 2018.