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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
+11.7%
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
$1.43B
AUM Growth
+$119M
Cap. Flow
-$26.6M
Cap. Flow %
-1.87%
Top 10 Hldgs %
97.34%
Holding
45
New
3
Increased
3
Reduced
3
Closed
3

Top Buys

Rank Stock Value
1
XCO
Exco Resources
XCO
+$34.6M
2
SPLP
STEEL PARTNERS HOLDINGS L.P.
SPLP
+$497K
3
HNR
Harvest Natural Resources
HNR
+$434K
4
APF
Morgan Stanley Asia Pacific Fund
APF
+$398K
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$397K

Top Sells

Rank Stock Value
1
BB icon
BlackBerry
BB
+$48.8M
2
VPHM
VIROPHARMA INC
VPHM
+$498K
3
EVAC
EDWARDS GROUP LTD ADR (CYM)
EVAC
+$494K
4
HPQ icon
HP
HPQ
+$263K
5
CTB
Cooper Tire & Rubber Co.
CTB
+$145K

Sector Composition

Rank Sector Weight
1 Materials 41%
2 Technology 26.44%
3 Energy 20.98%
4 Consumer Discretionary 4.43%
5 Financials 2.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RFP
1
DELISTED
Resolute Forest Products Inc.
RFP
$583M 40.88%
29,044,012
– –
BB icon
2
BlackBerry
BB
$4.71B
$377M 26.42%
46,654,700
-5,200,000
-10% -$48.8M
SD
3
DELISTED
SANDRIDGE ENERGY, INC.
SD
$199M 13.99%
32,463,200
– –
XCO
4
DELISTED
Exco Resources
XCO
$98.2M 6.89%
1,169,261
+448,448
+62% +$34.6M
NXH
5
Neighborhood Intelligence, Inc. Common Stock
NXH
$396M
$62.7M 4.4%
4,238,805
– –
PTVCB
6
DELISTED
Protective Insurance Corporation Class B Common Stock
PTVCB
$25.5M 1.79%
969,875
– –
BCE icon
7
BCE
BCE
$22.1B
$11.6M 0.81%
268,300
– –
KW
8
DELISTED
Kennedy-Wilson Holdings
KW
$9M 0.63%
400,000
– –
JNJ icon
9
Johnson & Johnson
JNJ
$651B
$8.32M 0.58%
84,700
– –
PFE icon
10
Pfizer
PFE
$160B
$7.55M 0.53%
247,690
– –
CRESY
11
Cresud
CRESY
$792M
$6.7M 0.47%
821,245
– –
WFC icon
12
Wells Fargo
WFC
$254B
$3.45M 0.24%
69,300
– –
BRK.B icon
13
Berkshire Hathaway Class B
BRK.B
$1.06T
$3.06M 0.21%
24,500
+3,400
+16% +$397K
DXM
14
DELISTED
DEX MEDIA INC NEW COM STK (DE)
DXM
$1.46M 0.1%
159,198
– –
USG
15
DELISTED
Usg
USG
$1.4M 0.1%
42,800
– –
USB icon
16
US Bancorp
USB
$96.7B
$1.29M 0.09%
30,000
– –
NYT icon
17
New York Times
NYT
$10.6B
$1.2M 0.08%
70,000
– –
BRK.A icon
18
Berkshire Hathaway Class A
BRK.A
$1.06T
$1.12M 0.08%
6
– –
C icon
19
Citigroup
C
$221B
$952K 0.07%
20,000
– –
UPL
20
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
$874K 0.06%
32,500
– –
LRN icon
21
Stride
LRN
$3.51B
$750K 0.05%
33,133
– –
ORI icon
22
Old Republic International
ORI
$10B
$738K 0.05%
45,000
– –
MRK icon
23
Merck
MRK
$376B
$681K 0.05%
12,576
– –
FLG
24
Flagstar Bank National Association
FLG
$5.59B
$642K 0.05%
13,333
– –
PTEN icon
25
Patterson-UTI
PTEN
$4.71B
$538K 0.04%
17,000
-2,000
-11% -$55.6K
1
2

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Prem Watsa's Q1 2014 Portfolio in Review

As of Q1 2014, Prem Watsa held 45 positions worth $1.43B, up 9.1% from $1.31B the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Prem Watsa's Q1 2014 filing shows 3 new, 3 increased, 3 reduced and 3 closed positions. Its largest new stake was STEEL PARTNERS HOLDINGS L.P.: 30,000 shares worth $509K. The largest sale was BlackBerry, an estimated $48.8M.

By sector, the portfolio is most concentrated in Materials at 41% of assets, up from 36% a quarter earlier, followed by Technology and Energy.

  • Prem Watsa's largest Q1 2014 buy was STEEL PARTNERS HOLDINGS L.P.: 30,000 shares worth $509K.
  • Prem Watsa added most to Exco Resources in Q1 2014, an estimated $34.6M increase.
  • Prem Watsa's biggest Q1 2014 reduction was BlackBerry, cutting an estimated $48.8M.
  • Prem Watsa fully exited VIROPHARMA INC in Q1 2014, selling an estimated $498K.
  • Prem Watsa's ten largest holdings make up 97% of its $1.43B portfolio in Q1 2014.
  • Prem Watsa opened 3 new positions and closed 3 in Q1 2014.
  • Prem Watsa's portfolio value rose 9.1% quarter-over-quarter to $1.43B.

Based on Fairfax Financial Holdings's 13F filing for Q1 2014, filed 14 May 2014.