Prem Watsa

Net buying

Fairfax Financial Holdings Ltd/ Can — managed by Prem Watsa; US equity positions disclosed quarterly via SEC 13F

Data as of 2026-03-31 (filed 2026-05-15) · Source: SEC EDGAR

Portfolio value$1.94B（−7%）

Holdings29

Reporting quarterQ1 2026

Top holdingOrla Mining Ltd

Portfolio overview

Fairfax Financial Holdings Ltd/ Can's most recent 13F filing, for the quarter ended 2026-03-31, reports 29 positions worth $1.94B. The top 5 holdings represent 63% of that value, a concentrated portfolio.

The single largest position is Orla Mining Ltd at 25.8% of the portfolio, followed by Under Armour Inc at 13.1% and Cvs Health Corp at 10.0%.

Against the prior quarter, Prem Watsa opened 2 new positions, exited 2, added to 8, and trimmed 1. The largest new buy was Wendys Co. The most notable sale was the full exit from Occidental Petroleum Corp.

Across all 8 quarters on file, Orla Mining Ltd has appeared in every filing, as has Under Armour Inc. Orla Mining Ltd currently ranks first by value.

A 13F is filed roughly 45 days after quarter-end and covers only long positions in US-listed equities, so it is a lagging and partial view of the portfolio. Source: SEC EDGAR.

High-conviction

Molson Coors Beverage CoTAPAdding · 6q

Added for 6 straight quarters.

Under Armour IncUAABig new buy

Big add last quarter — 13.1% of the book.

Under Armour IncUABig new buy

Big add last quarter — 6.5% of the book.

Strike-zone picks

None of Prem Watsa's tracked holdings are in the strike zone right now.

Valuation as of 2026-07-02; method: conservative Greenwald value band + Owner-Earnings DCF. Position observation, not advice.

Next · is it cheap

Prem Watsa has no positions in the strike zone right now.

Browse the whole market by value band

Holdings

Security	Value	Valuation	Holders	Shares	Weight (prev→now)
Orla Mining LtdORLA	$501.6M	—	1	31,817,229	20.3% → 25.8%
Under Armour IncUAA	$253.7M	—	1	43,000,872	10.0% → 13.1% ▲
Cvs Health CorpCVS	$194.8M	Above value	12	2,712,000	10.3% → 10.0%
Kennedy-Wilson Holdings IncKW	$144.3M	Below value· unconf.	1	13,322,009	6.2% → 7.4%
Under Armour IncUA	$126.9M	—	1	21,999,128	2.2% → 6.5% ▲
Cleveland-Cliffs IncCLF	$125.7M	—	3	14,899,273	9.5% → 6.5%
Kraft Heinz CoKHC	$118.4M	—	7	5,268,200	6.0% → 6.1% ▲
Blackberry LtdBB	$113.3M	—	1	34,980,220	6.3% → 5.8%
Ats CorpATS	$69.4M	—	1	2,486,400	3.3% → 3.6%
Molson Coors Beverage CoTAP	$61.9M	—	5	1,438,500	3.0% → 3.2% ▲
Helmerich & Payne IncHP	$42.3M	—	3	1,174,105	1.6% → 2.2%
Taiwan Semiconductor Mfg LtdTSM	$31.7M	—	21	93,700	1.4% → 1.6%
General Motors CoGM	$28.0M	Above value	8	375,965	1.5% → 1.4%
Pfizer IncPFE	$27.8M	Above value	7	990,900	1.1% → 1.4% ▲
Bank Nova ScotiaBNS	$24.8M	—	2	359,100	1.3% → 1.3%
Wendys CoWEN	$22.8M	Within band	4	3,268,902	New · 1.2%
Merck & Co IncMRK	$20.8M	Above value	9	172,900	0.9% → 1.1%
Johnson & JohnsonJNJ	$17.9M	Above value	11	73,400	0.7% → 0.9%
Garrett Motion IncGTX	$3.4M	Above value	2	184,460	0.2% → 0.2% ▼
Colliers Intl Group IncCIGI	$2.6M	Above value	4	25,000	0.2% → 0.1% ▲
Canadian National Railway CoCNI	$2.5M	—	5	24,800	0.1% → 0.1% ▲
Lululemon Athletica IncLULU	$1.9M	Within band	5	12,500	0.1% → 0.1%
Warner Bros Discovery IncWBD	$1.6M	Above value	3	57,900	New · 0.1%
Capri Holdings LtdCPRI	$1.4M	—	2	78,100	0.1% → 0.1%
Brightstar Lottery PlcBRSL	$874,971	—	1	68,733	0.0% → 0.0% ▲

Orla Mining LtdORLA
Value$501.6MValuation—Holders1Weight (prev→now)20.3% → 25.8%
Under Armour IncUAA
Value$253.7MValuation—Holders1Weight (prev→now)10.0% → 13.1% ▲
Cvs Health CorpCVS
Value$194.8MValuationAbove valueHolders12Weight (prev→now)10.3% → 10.0%
Kennedy-Wilson Holdings IncKW
Value$144.3MValuationBelow value· unconf.Holders1Weight (prev→now)6.2% → 7.4%
Under Armour IncUA
Value$126.9MValuation—Holders1Weight (prev→now)2.2% → 6.5% ▲
Cleveland-Cliffs IncCLF
Value$125.7MValuation—Holders3Weight (prev→now)9.5% → 6.5%
Kraft Heinz CoKHC
Value$118.4MValuation—Holders7Weight (prev→now)6.0% → 6.1% ▲
Blackberry LtdBB
Value$113.3MValuation—Holders1Weight (prev→now)6.3% → 5.8%
Ats CorpATS
Value$69.4MValuation—Holders1Weight (prev→now)3.3% → 3.6%
Molson Coors Beverage CoTAP
Value$61.9MValuation—Holders5Weight (prev→now)3.0% → 3.2% ▲
Helmerich & Payne IncHP
Value$42.3MValuation—Holders3Weight (prev→now)1.6% → 2.2%
Taiwan Semiconductor Mfg LtdTSM
Value$31.7MValuation—Holders21Weight (prev→now)1.4% → 1.6%
General Motors CoGM
Value$28.0MValuationAbove valueHolders8Weight (prev→now)1.5% → 1.4%
Pfizer IncPFE
Value$27.8MValuationAbove valueHolders7Weight (prev→now)1.1% → 1.4% ▲
Bank Nova ScotiaBNS
Value$24.8MValuation—Holders2Weight (prev→now)1.3% → 1.3%
Wendys CoWEN
Value$22.8MValuationWithin bandHolders4Weight (prev→now)New · 1.2%
Merck & Co IncMRK
Value$20.8MValuationAbove valueHolders9Weight (prev→now)0.9% → 1.1%
Johnson & JohnsonJNJ
Value$17.9MValuationAbove valueHolders11Weight (prev→now)0.7% → 0.9%
Garrett Motion IncGTX
Value$3.4MValuationAbove valueHolders2Weight (prev→now)0.2% → 0.2% ▼
Colliers Intl Group IncCIGI
Value$2.6MValuationAbove valueHolders4Weight (prev→now)0.2% → 0.1% ▲
Canadian National Railway CoCNI
Value$2.5MValuation—Holders5Weight (prev→now)0.1% → 0.1% ▲
Lululemon Athletica IncLULU
Value$1.9MValuationWithin bandHolders5Weight (prev→now)0.1% → 0.1%
Warner Bros Discovery IncWBD
Value$1.6MValuationAbove valueHolders3Weight (prev→now)New · 0.1%
Capri Holdings LtdCPRI
Value$1.4MValuation—Holders2Weight (prev→now)0.1% → 0.1%
Brightstar Lottery PlcBRSL
Value$874,971Valuation—Holders1Weight (prev→now)0.0% → 0.0% ▲

Showing top 25 of 29 positions

Exited this quarter (2)Occidental Petroleum Corp、Vanguard Index Funds

Sources· SEC EDGAR 13F as of 2026-03-31 · filed 2026-05-15

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