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 |
ATCO
Atlas Corp.
ATCO
|
+$258M |
| 2 |
Crescent Capital BDC
CCAP
|
+$52.4M |
| 3 |
Franklin Templeton, Inc.
BEN
|
+$23M |
| 4 |
Micron Technology
MU
|
+$19.5M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$18.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Johnson & Johnson
JNJ
|
+$10.4M |
| 2 |
SBNY
Signature Bank
SBNY
|
+$3.47M |
| 3 |
Jacobs Solutions
J
|
+$1.91M |
| 4 |
Argan
AGX
|
+$1.82M |
| 5 |
SLCA
U.S. SILICA HOLDINGS, INC.
SLCA
|
+$1.32M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 54.35% |
| 2 | Technology | 16.91% |
| 3 | Real Estate | 12.4% |
| 4 | Financials | 4.51% |
| 5 | Communication Services | 3.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Cirrus Logic
CRUS
$5.78B
| $419K | 0.03% |
+6,400
| New | +$473K |
|
52
FreightCar America
RAIL
$242M
| $419K | 0.03% |
450,000
| – | – |
|
|
LHCG
53
DELISTED
LHC Group LLC
LHCG
| $406K | 0.03% |
+2,900
| New | +$404K |
|
54
Darling Ingredients
DAR
$10.4B
| $401K | 0.03% |
+21,000
| New | +$533K |
|
|
LTRPA
55
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $369K | 0.03% |
+204,000
| New | +$1.02M |
|
56
Berkshire Hathaway Class A
BRK.A
$1.06T
| $274K | 0.02% |
1
| – | – |
|
57
Ampco-Pittsburgh
AP
$182M
| – | – |
-254,119
| Closed | -$765K |
|
|
SLCA
58
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| – | – |
-215,000
| Closed | -$1.32M |
|
|
MDR
59
DELISTED
McDermott International
MDR
| – | – |
-655,400
| Closed | -$441K |
|
|
SBNY
60
DELISTED
Signature Bank
SBNY
| – | – |
-25,400
| Closed | -$3.47M |
|
Similar funds
Prem Watsa's Q1 2020 Portfolio in Review
As of Q1 2020, Prem Watsa held 60 positions worth $1.44B, down 43% from $2.54B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Prem Watsa deployed $426M of net new capital in Q1 2020, opening 19 new positions and adding to 10 existing holdings. Its largest new stake was Crescent Capital BDC: 3,796,246 shares worth $36.6M.
By sector, the portfolio is most concentrated in Industrials at 54% of assets, up from 44% a quarter earlier, followed by Technology and Real Estate.
On the sell side, the largest reduction was Johnson & Johnson, an estimated $10.4M trimmed.
- Prem Watsa's largest Q1 2020 buy was Crescent Capital BDC: 3,796,246 shares worth $36.6M.
- Prem Watsa added most to Atlas Corp. in Q1 2020, an estimated $258M increase.
- Prem Watsa's biggest Q1 2020 reduction was Johnson & Johnson, cutting an estimated $10.4M.
- Prem Watsa fully exited Signature Bank in Q1 2020, selling an estimated $3.47M.
- Prem Watsa's ten largest holdings make up 91% of its $1.44B portfolio in Q1 2020.
- Prem Watsa opened 19 new positions and closed 4 in Q1 2020.
- Prem Watsa's portfolio value fell 43% quarter-over-quarter to $1.44B.
Based on Fairfax Financial Holdings's 13F filing for Q1 2020, filed 15 May 2020.