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 |
CVS Health
CVS
|
+$152M |
| 2 |
Kraft Heinz
KHC
|
+$84M |
| 3 |
ATS Corp
ATS
|
+$73.8M |
| 4 |
Cleveland-Cliffs
CLF
|
+$71.1M |
| 5 |
Molson Coors Class B
TAP
|
+$69.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$45.6M |
| 2 |
Intel
INTC
|
+$4.46M |
| 3 |
Capri Holdings
CPRI
|
+$3.37M |
| 4 |
Restaurant Brands International
QSR
|
+$3.02M |
| 5 |
TGNA
TEGNA Inc
TGNA
|
+$505K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 23.66% |
| 2 | Energy | 20.7% |
| 3 | Technology | 13.61% |
| 4 | Consumer Staples | 10.91% |
| 5 | Healthcare | 10.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ORLA
1
DELISTED
Orla Mining
ORLA
| $311M | 19.97% |
56,817,229
| – | – |
|
2
Occidental Petroleum
OXY
$61.3B
| $297M | 19.11% |
6,020,418
| – | – |
|
3
BlackBerry
BB
$4.71B
| $177M | 11.35% |
46,724,700
| – | – |
|
|
KW
4
DELISTED
Kennedy-Wilson Holdings
KW
| $133M | 8.56% |
13,322,009
| – | – |
|
|
5
CVS Health
CVS
$119B
| $122M | 7.82% |
+2,712,000
| New | +$152M |
|
|
6
Kraft Heinz
KHC
$30.3B
| $102M | 6.54% |
3,314,000
+2,564,000
| +342% | +$84M |
|
|
7
ATS Corp
ATS
$1.94B
| $73.9M | 4.75% |
2,486,400
+2,429,700
| +4,285% | +$73.8M |
|
|
8
Molson Coors Class B
TAP
$8.01B
| $68M | 4.37% |
+1,186,500
| New | +$69.2M |
|
|
9
Cleveland-Cliffs
CLF
$6.43B
| $55.5M | 3.56% |
+5,899,273
| New | +$71.1M |
|
10
Under Armour
UAA
$2.32B
| $52.3M | 3.36% |
6,311,800
| – | – |
|
11
TSMC
TSM
$2.17T
| $28M | 1.8% |
141,700
| – | – |
|
12
Helmerich & Payne
HP
$4.35B
| $24.8M | 1.59% |
774,105
+219,000
| +39% | +$7.43M |
|
13
General Motors
GM
$77.2B
| $20M | 1.29% |
375,965
| – | – |
|
14
Scotiabank
BNS
$107B
| $19.3M | 1.24% |
359,100
+70,000
| +24% | +$3.78M |
|
15
Pfizer
PFE
$160B
| $17.3M | 1.11% |
650,900
+190,000
| +41% | +$5.15M |
|
16
Merck
MRK
$376B
| $17.2M | 1.11% |
172,900
| – | – |
|
17
Johnson & Johnson
JNJ
$651B
| $10.6M | 0.68% |
73,400
| – | – |
|
18
Micron Technology
MU
$1.09T
| $6.73M | 0.43% |
80,000
| – | – |
|
19
KKR & Co
KKR
$97.4B
| $3.48M | 0.22% |
23,500
| – | – |
|
20
Colliers International
CIGI
$5.47B
| $3.3M | 0.21% |
25,000
| – | – |
|
21
Garrett Motion
GTX
$4.96B
| $2.75M | 0.18% |
304,360
+18,600
| +7% | +$154K |
|
22
Gentex
GNTX
$4.98B
| $2.44M | 0.16% |
85,000
| – | – |
|
23
Franco-Nevada
FNV
$51.3B
| $1.95M | 0.13% |
16,800
| – | – |
|
24
TFI International
TFII
$11.6B
| $1.79M | 0.11% |
13,300
| – | – |
|
|
25
Capri Holdings
CPRI
$1.55B
| $1.64M | 0.11% |
78,100
-124,000
| -61% | -$3.37M |
|
Similar funds
Prem Watsa's Q4 2024 Portfolio in Review
As of Q4 2024, Prem Watsa held 35 positions worth $1.56B, up 42% from $1.1B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Prem Watsa deployed $410M of net new capital in Q4 2024, opening 4 new positions and adding to 6 existing holdings. Its largest new stake was CVS Health: 2,712,000 shares worth $122M.
By sector, the portfolio is most concentrated in Materials at 24% of assets, up from 21% a quarter earlier, followed by Energy and Technology.
On the sell side, the largest reduction was Capri Holdings, an estimated $3.37M trimmed.
- Prem Watsa's largest Q4 2024 buy was CVS Health: 2,712,000 shares worth $122M.
- Prem Watsa added most to Kraft Heinz in Q4 2024, an estimated $84M increase.
- Prem Watsa's biggest Q4 2024 reduction was Capri Holdings, cutting an estimated $3.37M.
- Prem Watsa fully exited Alphabet (Google) Class A in Q4 2024, selling an estimated $45.6M.
- Prem Watsa's ten largest holdings make up 89% of its $1.56B portfolio in Q4 2024.
- Prem Watsa opened 4 new positions and closed 4 in Q4 2024.
- Prem Watsa's portfolio value rose 42% quarter-over-quarter to $1.56B.
Based on Fairfax Financial Holdings's 13F filing for Q4 2024, filed 14 Feb 2025.