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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
+14.06%
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
$2.42B
AUM Growth
+$627M
Cap. Flow
-$192M
Cap. Flow %
-7.94%
Top 10 Hldgs %
97.24%
Holding
39
New
5
Increased
3
Reduced
6
Closed
3

Top Buys

Rank Stock Value
1
ATCO
Atlas Corp.
ATCO
+$335M
2
MU icon
Micron Technology
MU
+$9.66M
3
LUMN icon
Lumen
LUMN
+$5.56M
4
RHT
Red Hat Inc
RHT
+$1.83M
5
STMP
Stamps.com, Inc.
STMP
+$1.52M

Top Sells

Rank Stock Value
1
HP icon
Helmerich & Payne
HP
+$11M
2
PKX icon
POSCO
PKX
+$10.4M
3
SHPG
Shire pic
SHPG
+$1.29M
4
BMS
Bemis
BMS
+$1.22M
5
AGX icon
Argan
AGX
+$630K

Sector Composition

Rank Sector Weight
1 Industrials 28.93%
2 Technology 20.42%
3 Real Estate 11.77%
4 Materials 10.19%
5 Communication Services 1.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ATCO
1
DELISTED
Atlas Corp.
ATCO
$670M 27.7%
77,155,000
+38,461,539
+99% +$335M
BB icon
2
BlackBerry
BB
$4.71B
$471M 19.47%
46,724,700
– –
KW
3
DELISTED
Kennedy-Wilson Holdings
KW
$285M 11.77%
13,322,009
– –
RFP
4
DELISTED
Resolute Forest Products Inc.
RFP
$241M 9.96%
30,548,190
– –
LUMN icon
5
Lumen
LUMN
$6.13B
$28.3M 1.17%
2,359,100
+400,000
+20% +$5.56M
JNJ icon
6
Johnson & Johnson
JNJ
$651B
$20.5M 0.85%
146,800
– –
GM icon
7
General Motors
GM
$77.2B
$13.9M 0.58%
375,965
– –
GE icon
8
GE Aerospace
GE
$361B
$13.9M 0.57%
279,065
-11,163
-4% -$526K
BNS icon
9
Scotiabank
BNS
$107B
$13.2M 0.54%
247,100
– –
MU icon
10
Micron Technology
MU
$1.09T
$12.3M 0.51%
298,000
+250,000
+521% +$9.66M
HP icon
11
Helmerich & Payne
HP
$4.35B
$7.86M 0.32%
141,400
-202,600
-59% -$11M
MDR
12
DELISTED
McDermott International
MDR
$4.87M 0.2%
655,400
– –
CRAY
13
DELISTED
Cray, Inc.
CRAY
$4.43M 0.18%
170,000
– –
AGX icon
14
Argan
AGX
$7.03B
$4.29M 0.18%
86,000
-14,000
-14% -$630K
J icon
15
Jacobs Solutions
J
$17.6B
$3.53M 0.15%
56,822
-10,880
-16% -$613K
SBNY
16
DELISTED
Signature Bank
SBNY
$3.25M 0.13%
25,400
-3,400
-12% -$433K
NWPX icon
17
NWPX Infrastructure Inc
NWPX
$1.06B
$3.23M 0.13%
135,000
-25,000
-16% -$593K
KLIC icon
18
Kulicke & Soffa
KLIC
$4.49B
$2.87M 0.12%
130,000
– –
SLCA
19
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
$2.34M 0.1%
135,000
– –
NTES icon
20
NetEase
NTES
$82.1B
$1.93M 0.08%
40,000
– –
RHT
21
DELISTED
Red Hat Inc
RHT
$1.86M 0.08%
+10,200
New +$1.83M
CELG
22
DELISTED
Celgene Corp
CELG
$1.37M 0.06%
+14,500
New +$1.27M
IDTI
23
DELISTED
Integrated Device Technology I
IDTI
$1.32M 0.05%
+27,000
New +$1.31M
ONCE
24
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$1.32M 0.05%
+11,600
New +$853K
RAIL icon
25
FreightCar America
RAIL
$242M
$1.23M 0.05%
200,000
– –
1
2

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Prem Watsa's Q1 2019 Portfolio in Review

As of Q1 2019, Prem Watsa held 39 positions worth $2.42B, up 35% from $1.79B the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Prem Watsa withdrew a net $192M in Q1 2019, closing 3 positions and reducing 6 holdings. Its most notable exit was POSCO, an estimated $10.4M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 29% of assets, up from 18% a quarter earlier, followed by Technology and Real Estate.

Against the trend, Prem Watsa opened a new position in Red Hat Inc worth $1.86M.

  • Prem Watsa's largest Q1 2019 buy was Red Hat Inc: 10,200 shares worth $1.86M.
  • Prem Watsa added most to Atlas Corp. in Q1 2019, an estimated $335M increase.
  • Prem Watsa's biggest Q1 2019 reduction was Helmerich & Payne, cutting an estimated $11M.
  • Prem Watsa fully exited POSCO in Q1 2019, selling an estimated $10.4M.
  • Prem Watsa's ten largest holdings make up 97% of its $2.42B portfolio in Q1 2019.
  • Prem Watsa opened 5 new positions and closed 3 in Q1 2019.
  • Prem Watsa's portfolio value rose 35% quarter-over-quarter to $2.42B.

Based on Fairfax Financial Holdings's 13F filing for Q1 2019, filed 15 May 2019.