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 |
Micron Technology
MU
|
+$161M |
| 2 |
ORLA
Orla Mining
ORLA
|
+$31.3M |
| 3 |
Bank of America
BAC
|
+$17.8M |
| 4 |
Pfizer
PFE
|
+$2.92M |
| 5 |
Scotiabank
BNS
|
+$2.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
H&R Block
HRB
|
+$3.63M |
| 2 |
Crescent Capital BDC
CCAP
|
+$2.32M |
| 3 |
IRBT
iRobot
IRBT
|
+$551K |
| 4 |
Vanguard S&P 500 ETF
VOO
|
+$219K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 45.15% |
| 2 | Materials | 16.57% |
| 3 | Technology | 10.95% |
| 4 | Real Estate | 5.34% |
| 5 | Financials | 4.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ATCO
1
DELISTED
Atlas Corp.
ATCO
| $1.74B | 44.69% |
125,081,134
| – | – |
|
|
RFP
2
DELISTED
Resolute Forest Products Inc.
RFP
| $611M | 15.66% |
30,548,190
| – | – |
|
3
BlackBerry
BB
$4.71B
| $220M | 5.63% |
46,724,700
| – | – |
|
|
KW
4
DELISTED
Kennedy-Wilson Holdings
KW
| $206M | 5.28% |
13,322,009
| – | – |
|
|
5
Micron Technology
MU
$1.09T
| $173M | 4.45% |
3,462,049
+2,768,649
| +399% | +$161M |
|
|
6
Bank of America
BAC
$431B
| $93.7M | 2.4% |
3,101,000
+531,771
| +21% | +$17.8M |
|
7
Occidental Petroleum
OXY
$61.3B
| $56.6M | 1.45% |
921,500
+35,000
| +4% | +$2.24M |
|
8
Chevron
CVX
$403B
| $45.1M | 1.16% |
314,000
| – | – |
|
|
9
H&R Block
HRB
$6.62B
| $44M | 1.13% |
1,035,019
-85,875
| -8% | -$3.63M |
|
|
ORLA
10
DELISTED
Orla Mining
ORLA
| $32.5M | 0.83% |
+10,219,650
| New | +$31.3M |
|
11
Alphabet (Google) Class A
GOOGL
$4.22T
| $32.2M | 0.83% |
336,620
| – | – |
|
|
12
Crescent Capital BDC
CCAP
$395M
| $31.3M | 0.8% |
2,092,698
-137,278
| -6% | -$2.32M |
|
13
Alibaba
BABA
$286B
| $23.4M | 0.6% |
292,800
| – | – |
|
14
Franklin Templeton, Inc.
BEN
$17.4B
| $21.5M | 0.55% |
1,000,000
| – | – |
|
15
Helmerich & Payne
HP
$4.35B
| $20.5M | 0.53% |
555,105
| – | – |
|
|
16
Pfizer
PFE
$160B
| $20.2M | 0.52% |
460,900
+60,000
| +15% | +$2.92M |
|
17
International Seaways
INSW
$4.93B
| $20.1M | 0.52% |
572,954
| – | – |
|
18
Intel
INTC
$476B
| $16.8M | 0.43% |
652,500
+30,000
| +5% | +$1.02M |
|
19
Merck
MRK
$376B
| $14.9M | 0.38% |
172,900
| – | – |
|
|
20
Scotiabank
BNS
$107B
| $13.8M | 0.35% |
289,100
+42,000
| +17% | +$2.4M |
|
21
General Motors
GM
$77.2B
| $12.1M | 0.31% |
375,965
| – | – |
|
22
Johnson & Johnson
JNJ
$651B
| $12M | 0.31% |
73,400
| – | – |
|
23
GE Aerospace
GE
$361B
| $10.8M | 0.28% |
279,065
| – | – |
|
|
TEN
24
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $6.52M | 0.17% |
375,000
| – | – |
|
25
TSMC
TSM
$2.17T
| $6.43M | 0.16% |
93,700
| – | – |
|
Similar funds
Prem Watsa's Q3 2022 Portfolio in Review
As of Q3 2022, Prem Watsa held 74 positions worth $3.9B, up 37% from $2.84B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Prem Watsa deployed $213M of net new capital in Q3 2022, opening 3 new positions and adding to 9 existing holdings. Its largest new stake was Orla Mining: 10,219,650 shares worth $32.5M.
By sector, the portfolio is most concentrated in Industrials at 45% of assets, down from 48% a quarter earlier, followed by Materials and Technology.
On the sell side, the largest reduction was H&R Block, an estimated $3.63M trimmed.
- Prem Watsa's largest Q3 2022 buy was Orla Mining: 10,219,650 shares worth $32.5M.
- Prem Watsa added most to Micron Technology in Q3 2022, an estimated $161M increase.
- Prem Watsa's biggest Q3 2022 reduction was H&R Block, cutting an estimated $3.63M.
- Prem Watsa fully exited iRobot in Q3 2022, selling an estimated $551K.
- Prem Watsa's ten largest holdings make up 91% of its $3.9B portfolio in Q3 2022.
- Prem Watsa opened 3 new positions and closed 1 in Q3 2022.
- Prem Watsa's portfolio value rose 37% quarter-over-quarter to $3.9B.
Based on Fairfax Financial Holdings's 13F filing for Q3 2022, filed 14 Nov 2022.