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 | |
|---|---|---|---|---|---|---|
|
ATCO
1
DELISTED
Atlas Corp.
ATCO
| $770M | 53.34% |
100,573,798
+23,418,798
| +30% | +$258M |
|
2
BlackBerry
BB
$4.71B
| $191M | 13.23% |
46,724,700
| – | – |
|
|
KW
3
DELISTED
Kennedy-Wilson Holdings
KW
| $178M | 12.32% |
13,322,009
| – | – |
|
|
RFP
4
DELISTED
Resolute Forest Products Inc.
RFP
| $38.5M | 2.67% |
30,548,190
| – | – |
|
|
5
Crescent Capital BDC
CCAP
$395M
| $36.6M | 2.54% |
+3,796,246
| New | +$52.4M |
|
|
6
Micron Technology
MU
$1.09T
| $29.4M | 2.04% |
700,000
+375,000
| +115% | +$19.5M |
|
7
Lumen
LUMN
$6.13B
| $22.3M | 1.55% |
2,359,100
| – | – |
|
|
8
Franklin Templeton, Inc.
BEN
$17.4B
| $16.7M | 1.16% |
+1,000,000
| New | +$23M |
|
|
9
Alphabet (Google) Class A
GOOGL
$4.22T
| $16M | 1.1% |
+274,620
| New | +$18.6M |
|
|
FIT
10
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $14.3M | 0.99% |
2,150,000
| – | – |
|
|
DSSI
11
DELISTED
Diamond S Shipping Inc. Common Shares
DSSI
| $12.1M | 0.84% |
1,034,681
| – | – |
|
12
MasterCraft Boat Holdings
MCFT
$617M
| $11.6M | 0.81% |
1,599,333
+1,066,876
| +200% | +$15.6M |
|
13
Chevron
CVX
$403B
| $11.3M | 0.78% |
+155,800
| New | +$15.4M |
|
14
GE Aerospace
GE
$361B
| $11M | 0.76% |
279,065
| – | – |
|
15
Scotiabank
BNS
$107B
| $9.98M | 0.69% |
247,100
| – | – |
|
|
16
Johnson & Johnson
JNJ
$651B
| $9.61M | 0.67% |
73,400
-73,400
| -50% | -$10.4M |
|
17
Booking.com
BKNG
$158B
| $8.74M | 0.61% |
+162,500
| New | +$11.4M |
|
18
General Motors
GM
$77.2B
| $7.81M | 0.54% |
375,965
| – | – |
|
|
SIX
19
DELISTED
Six Flags Entertainment Corp.
SIX
| $7.81M | 0.54% |
+625,000
| New | +$18.6M |
|
20
TSMC
TSM
$2.17T
| $4.76M | 0.33% |
99,700
+46,000
| +86% | +$2.52M |
|
21
Helmerich & Payne
HP
$4.35B
| $3.54M | 0.25% |
226,400
| – | – |
|
22
NetEase
NTES
$82.1B
| $2.56M | 0.18% |
40,000
| – | – |
|
|
RARX
23
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
| $2.02M | 0.14% |
+42,000
| New | +$1.95M |
|
24
Restaurant Brands International
QSR
$28.2B
| $1.72M | 0.12% |
43,500
+6,500
| +18% | +$368K |
|
25
Madison Square Garden
MSGS
$9.78B
| $1.7M | 0.12% |
11,216
| – | – |
|
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.