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 |
USG
Usg
USG
|
+$37.5M |
| 2 |
Intrepid Potash
IPI
|
+$32.2M |
| 3 |
CSX Corp
CSX
|
+$686K |
| 4 |
Sherwin-Williams
SHW
|
+$206K |
| 5 |
Thermo Fisher Scientific
TMO
|
+$205K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NXH
Neighborhood Intelligence, Inc. Common Stock
NXH
|
+$55.7M |
| 2 |
PTVCB
Protective Insurance Corporation Class B Common Stock
PTVCB
|
+$9.51M |
| 3 |
Wells Fargo
WFC
|
+$340K |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$335K |
| 5 |
TMH
Team Health Holdings Inc
TMH
|
+$260K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 48.34% |
| 2 | Real Estate | 22.03% |
| 3 | Materials | 21% |
| 4 | Energy | 3.28% |
| 5 | Financials | 2.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
BlackBerry
BB
$4.71B
| $362M | 29.2% |
46,724,700
| – | – |
|
|
KW
2
DELISTED
Kennedy-Wilson Holdings
KW
| $273M | 22.03% |
12,321,921
| – | – |
|
3
IBM
IBM
$222B
| $237M | 19.15% |
1,424,547
| – | – |
|
|
RFP
4
DELISTED
Resolute Forest Products Inc.
RFP
| $165M | 13.32% |
30,548,190
| – | – |
|
|
USG
5
DELISTED
Usg
USG
| $48.7M | 3.93% |
1,530,522
+1,179,300
| +336% | +$37.5M |
|
|
6
Intrepid Potash
IPI
$525M
| $28.5M | 2.3% |
+1,666,667
| New | +$32.2M |
|
7
Helmerich & Payne
HP
$4.35B
| $23.3M | 1.88% |
349,974
| – | – |
|
8
US Bancorp
USB
$96.7B
| $21M | 1.7% |
408,000
| – | – |
|
9
Johnson & Johnson
JNJ
$651B
| $18.8M | 1.52% |
151,250
| – | – |
|
|
XCO
10
DELISTED
Exco Resources
XCO
| $17.1M | 1.38% |
1,835,927
| – | – |
|
11
POSCO
PKX
$17.3B
| $12.4M | 1% |
191,879
| – | – |
|
12
Jefferies Financial Group
JEF
$12.1B
| $7.8M | 0.63% |
335,138
| – | – |
|
13
Pfizer
PFE
$160B
| $7.18M | 0.58% |
221,340
| – | – |
|
|
TRQ
14
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $3.52M | 0.28% |
115,040
| – | – |
|
|
15
Wells Fargo
WFC
$254B
| $3.33M | 0.27% |
59,800
-6,000
| -9% | -$340K |
|
|
16
Berkshire Hathaway Class B
BRK.B
$1.06T
| $2.33M | 0.19% |
14,000
-2,000
| -13% | -$335K |
|
|
17
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.5M | 0.12% |
6
| – | – |
|
18
NetEase
NTES
$82.1B
| $852K | 0.07% |
15,000
| – | – |
|
|
MON
19
DELISTED
Monsanto Co
MON
| $702K | 0.06% |
6,200
| – | – |
|
|
20
CSX Corp
CSX
$95.6B
| $698K | 0.06% |
+45,000
| New | +$686K |
|
|
VAL
21
DELISTED
Valspar
VAL
| $688K | 0.06% |
6,200
| – | – |
|
22
New Oriental
EDU
$8.88B
| $670K | 0.05% |
11,100
| – | – |
|
23
Stride
LRN
$3.51B
| $634K | 0.05% |
33,133
| – | – |
|
24
Rayonier Advanced Materials
RYAM
$586M
| $470K | 0.04% |
35,000
| – | – |
|
25
Enovis
ENOV
$1.5B
| $393K | 0.03% |
5,810
| – | – |
|
Similar funds
Prem Watsa's Q1 2017 Portfolio in Review
As of Q1 2017, Prem Watsa held 34 positions worth $1.24B, up 6% from $1.17B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Prem Watsa's Q1 2017 filing shows 5 new, 1 increased, 2 reduced and 3 closed positions. Its largest new stake was Intrepid Potash: 1,666,667 shares worth $28.5M. The largest sale was Neighborhood Intelligence, Inc. Common Stock, an estimated $55.7M.
By sector, the portfolio is most concentrated in Technology at 48% of assets, up from 47% a quarter earlier, followed by Real Estate and Materials.
- Prem Watsa's largest Q1 2017 buy was Intrepid Potash: 1,666,667 shares worth $28.5M.
- Prem Watsa added most to Usg in Q1 2017, an estimated $37.5M increase.
- Prem Watsa's biggest Q1 2017 reduction was Wells Fargo, cutting an estimated $340K.
- Prem Watsa fully exited Neighborhood Intelligence, Inc. Common Stock in Q1 2017, selling an estimated $55.7M.
- Prem Watsa's ten largest holdings make up 96% of its $1.24B portfolio in Q1 2017.
- Prem Watsa opened 5 new positions and closed 3 in Q1 2017.
- Prem Watsa's portfolio value rose 6% quarter-over-quarter to $1.24B.
Based on Fairfax Financial Holdings's 13F filing for Q1 2017, filed 12 May 2017.