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 |
KW
Kennedy-Wilson Holdings
KW
|
+$17.2M |
| 2 |
Lumen
LUMN
|
+$7.32M |
| 3 |
GE Aerospace
GE
|
+$4.78M |
| 4 |
ICD
Independence Contract Drilling, Inc.
ICD
|
+$1.58M |
| 5 |
SCG
Scana
SCG
|
+$1.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pfizer
PFE
|
+$7.61M |
| 2 |
TRQ
Turquoise Hill Resources Ltd
TRQ
|
+$3.93M |
| 3 |
MYR Group
MYRG
|
+$2.86M |
| 4 |
Jefferies Financial Group
JEF
|
+$2.65M |
| 5 |
Berkshire Hathaway Class A
BRK.A
|
+$1.85M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.27% |
| 2 | Materials | 19.53% |
| 3 | Real Estate | 11.52% |
| 4 | Industrials | 1.76% |
| 5 | Communication Services | 1.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
BlackBerry
BB
$4.71B
| $537M | 26.69% |
46,724,700
| – | – |
|
|
RFP
2
DELISTED
Resolute Forest Products Inc.
RFP
| $252M | 12.52% |
30,548,190
| – | – |
|
|
KW
3
DELISTED
Kennedy-Wilson Holdings
KW
| $232M | 11.52% |
13,322,009
+1,000,088
| +8% | +$17.2M |
|
|
USG
4
DELISTED
Usg
USG
| $61.9M | 3.07% |
1,530,522
| – | – |
|
5
Intrepid Potash
IPI
$525M
| $60.5M | 3.01% |
1,666,667
| – | – |
|
6
IBM
IBM
$222B
| $40.8M | 2.03% |
277,922
| – | – |
|
|
7
Lumen
LUMN
$6.13B
| $30.3M | 1.51% |
1,847,100
+422,100
| +30% | +$7.32M |
|
8
Helmerich & Payne
HP
$4.35B
| $22.9M | 1.14% |
344,000
-5,974
| -2% | -$403K |
|
9
Johnson & Johnson
JNJ
$651B
| $19M | 0.95% |
148,650
-2,600
| -2% | -$351K |
|
10
POSCO
PKX
$17.3B
| $14.9M | 0.74% |
189,000
-2,879
| -2% | -$243K |
|
|
CBI
11
DELISTED
Chicago Bridge & Iron Nv
CBI
| $12.2M | 0.61% |
850,000
| – | – |
|
|
CRAY
12
DELISTED
Cray, Inc.
CRAY
| $4.97M | 0.25% |
240,000
-10,000
| -4% | -$232K |
|
|
RPXC
13
DELISTED
RPX Corporation
RPXC
| $4.7M | 0.23% |
440,000
+40,000
| +10% | +$489K |
|
|
14
GE Aerospace
GE
$361B
| $4.17M | 0.21% |
+64,560
| New | +$4.78M |
|
15
Argan
AGX
$7.03B
| $3.87M | 0.19% |
90,000
+15,000
| +20% | +$631K |
|
16
NWPX Infrastructure Inc
NWPX
$1.06B
| $3.11M | 0.15% |
180,000
| – | – |
|
17
Kulicke & Soffa
KLIC
$4.49B
| $3M | 0.15% |
120,000
+24,000
| +25% | +$578K |
|
18
FreightCar America
RAIL
$242M
| $2.41M | 0.12% |
180,000
+30,000
| +20% | +$454K |
|
|
CRR
19
DELISTED
Carbo Ceramics Inc.
CRR
| $2.4M | 0.12% |
330,000
+30,000
| +10% | +$259K |
|
20
Jacobs Solutions
J
$17.6B
| $2.37M | 0.12% |
48,359
+6,045
| +14% | +$320K |
|
21
NetEase
NTES
$82.1B
| $2.24M | 0.11% |
40,000
+7,500
| +23% | +$471K |
|
22
Stratasys
SSYS
$692M
| $2.02M | 0.1% |
100,000
+10,000
| +11% | +$214K |
|
|
PGH
23
DELISTED
Pengrowth Energy Corporation
PGH
| $2.01M | 0.1% |
3,200,000
| – | – |
|
|
SBNY
24
DELISTED
Signature Bank
SBNY
| $1.99M | 0.1% |
14,000
-1,000
| -7% | -$151K |
|
25
Wells Fargo
WFC
$254B
| $1.88M | 0.09% |
35,800
-10,000
| -22% | -$594K |
|
Similar funds
Prem Watsa's Q1 2018 Portfolio in Review
As of Q1 2018, Prem Watsa held 50 positions worth $2.01B, up 42% from $1.42B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Prem Watsa's Q1 2018 filing shows 5 new, 12 increased, 8 reduced and 11 closed positions. Its largest new stake was GE Aerospace: 64,560 shares worth $4.17M. The largest sale was Pfizer, an estimated $7.61M.
By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 40% a quarter earlier, followed by Materials and Real Estate.
- Prem Watsa's largest Q1 2018 buy was GE Aerospace: 64,560 shares worth $4.17M.
- Prem Watsa added most to Kennedy-Wilson Holdings in Q1 2018, an estimated $17.2M increase.
- Prem Watsa's biggest Q1 2018 reduction was Berkshire Hathaway Class A, cutting an estimated $1.85M.
- Prem Watsa fully exited Pfizer in Q1 2018, selling an estimated $7.61M.
- Prem Watsa's ten largest holdings make up 96% of its $2.01B portfolio in Q1 2018.
- Prem Watsa opened 5 new positions and closed 11 in Q1 2018.
- Prem Watsa's portfolio value rose 42% quarter-over-quarter to $2.01B.
Based on Fairfax Financial Holdings's 13F filing for Q1 2018, filed 15 May 2018.