Prem Watsa - Fairfax Financial
Prem Watsa, often called "Canada's Warren Buffett," founded and runs Fairfax Financial — an insurance-and-investment group he has compounded over decades with a contrarian value approach.
Prem Watsa - Fairfax Financial manages a $1B U.S. equity portfolio of 29 positions, based on the latest SEC Form 13F-HR filing (Q1 2026). Below you'll find every holding, the biggest quarter-over-quarter buys and sells, position weights, and an estimated average buy price.
Portfolio Value
$1B
Positions
29
Top 10 Weight
88.03%
Largest Position
25.82%
As of
Q1 2026
Filed
May 15, 2026
Portfolio Composition
Strategy Snapshot
- › Portfolio value fell 6.8% quarter-over-quarter to $1B.
- › Highly concentrated portfolio — the top 10 holdings make up 88.0% of assets.
- › This quarter: 2 new buys, 8 adds, 1 trims, 2 full exits — net buyer
- › Biggest new buy: WENDYS CO (WEN) ($22M)
- › Biggest exit: OCCIDENTAL PETE CORP (OXY) ($248M position closed)
Changes since Q4 2025
New Buys
Added To / Trimmed
- UNDER ARMOUR INC (UA)++132.6%
- UNDER ARMOUR INC (UAA)++2.5%
- MOLSON COORS BREWING COMPANY (TAP)++7.5%
- KRAFT HEINZ CO (KHC)++2.9%
- PFIZER INC (PFE)++11.2%
- GARRETT MOTION INC (GTX)−29.2%
- CANADIAN NATL RY CO (CNI)++25.3%
- BRIGHTSTAR LOTTERY PLC++87.6%
- COLLIERS INTL GROUP INC (CIGI)++13.6%
Exited
Current Holdings
| # | Security | Value | % of Portfolio | Avg Buy Price | Price | Gain | vs 52W High | This Qtr | Last Activity | First Buy |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ORLA MNG LTD NEW ORLA | $501M | 25.82% | ~$3.83 | $11.13 | +190.4% | −49.4% | UNCH | Sold Q4 2025 | Q2 2024 |
| 2 | UNDER ARMOUR INC UAA | $253M | 13.06% | ~$5.35 | $5.70 | +6.5% | −30.1% | +2.5% | Bought Q1 2026 | Q2 2024 |
| 3 | CVS HEALTH CORP CVS | $194M | 10.03% | ~$44.89 | $99.16 | +120.9% | −3.5% | UNCH | Bought Q4 2024 | Q4 2024 |
| 4 | KENNEDY-WILSON HOLDINGS INC KW | $144M | 7.43% | ~$9.71 | $10.92 | +12.5% | −1.5% | UNCH | Bought Q2 2024 | Q2 2024 |
| 5 | UNDER ARMOUR INC UA | $126M | 6.53% | ~$5.35 | $5.53 | +3.3% | −30.1% | +132.6% | Bought Q1 2026 | Q4 2025 |
| 6 | Cleveland-Cliffs Inc New CLF | $125M | 6.47% | ~$8.69 | $12.68 | +46.0% | −24.1% | UNCH | Bought Q1 2025 | Q4 2024 |
| 7 | KRAFT HEINZ CO KHC | $118M | 6.10% | ~$29.47 | $23.20 | −21.3% | −20.5% | +2.9% | Bought Q1 2026 | Q3 2024 |
| 8 | BLACKBERRY LTD BB | $113M | 5.83% | ~$2.49 | $8.83 | +254.6% | −19.2% | UNCH | Sold Q4 2025 | Q2 2024 |
| 9 | ATS CORP ATS | $69M | 3.57% | ~$29.69 | $28.32 | −4.6% | −20.9% | UNCH | Bought Q4 2024 | Q3 2024 |
| 10 | MOLSON COORS BREWING COMPANY TAP | $61M | 3.19% | ~$55.34 | $39.05 | −29.4% | −28.8% | +7.5% | Bought Q1 2026 | Q4 2024 |
| 11 | HELMERICH & PAYNE HP | $42M | 2.18% | ~$29.41 | $35.78 | +21.7% | −14.4% | UNCH | Bought Q3 2025 | Q2 2024 |
| 12 | Taiwan Semiconductor Manufac TSM | $31M | 1.63% | ~$173.83 | $432.15 | +148.6% | −4.0% | UNCH | Sold Q2 2025 | Q2 2024 |
| 13 | GENERAL MTRS CO GM | $28M | 1.44% | ~$46.44 | $79.58 | +71.4% | −9.2% | UNCH | Bought Q2 2024 | Q2 2024 |
| 14 | PFIZER INC PFE | $27M | 1.43% | ~$27.11 | $25.92 | −4.4% | −9.8% | +11.2% | Bought Q1 2026 | Q2 2024 |
| 15 | BANK NOVA SCOTIA HALIFAX BNS | $24M | 1.28% | ~$47.26 | $86.37 | +82.8% | −0.8% | UNCH | Bought Q4 2024 | Q2 2024 |
| 16 | WENDYS CO WEN | $22M | 1.17% | ~$6.96 | $6.95 | −0.1% | −44.4% | NEW | Bought Q1 2026 | Q1 2026 |
| 17 | MERCK & CO INC MRK | $20M | 1.07% | ~$123.74 | $115.44 | −6.7% | −7.8% | UNCH | Bought Q2 2024 | Q2 2024 |
| 18 | JOHNSON & JOHNSON JNJ | $17M | 0.92% | ~$146.11 | $234.20 | +60.3% | −7.0% | UNCH | Bought Q2 2024 | Q2 2024 |
| 19 | GARRETT MOTION INC GTX | $3M | 0.17% | ~$8.62 | $33.76 | +291.8% | −3.7% | −29.2% | Sold Q1 2026 | Q2 2024 |
| 20 | COLLIERS INTL GROUP INC CIGI | $2M | 0.13% | ~$110.15 | $92.89 | −15.7% | −45.8% | +13.6% | Bought Q1 2026 | Q2 2024 |
| 21 | CANADIAN NATL RY CO CNI | $2M | 0.13% | ~$99.63 | $113.96 | +14.4% | −7.0% | +25.3% | Bought Q1 2026 | Q4 2025 |
| 22 | LULULEMON ATHLETICA INC LULU | $1M | 0.10% | ~$177.82 | $111.76 | −37.1% | −55.7% | UNCH | Sold Q4 2025 | Q3 2025 |
| 23 | WARNER BROS DISCOVERY INC WBD | $1M | 0.08% | ~$27.44 | $26.24 | −4.4% | −12.5% | NEW | Bought Q1 2026 | Q1 2026 |
| 24 | CAPRI HOLDINGS LIMITED CPRI | $1M | 0.07% | ~$33.05 | $19.73 | −40.3% | −30.2% | UNCH | Sold Q4 2024 | Q2 2024 |
| 25 | BRIGHTSTAR LOTTERY PLC | $874K | 0.05% | ~$15.14 | — | — | — | +87.6% | Bought Q1 2026 | Q3 2025 |
| 26 | PENN ENTERTAINMENT INC PENN | $825K | 0.04% | ~$17.87 | $21.23 | +18.8% | −5.1% | UNCH | Bought Q2 2025 | Q2 2025 |
| 27 | BERKSHIRE HATHAWAY INC DEL BRK-A | $718K | 0.04% | ~$612000.00 | $737300.00 | +20.5% | −4.9% | UNCH | Bought Q2 2024 | Q2 2024 |
| 28 | MAGNACHIP SEMICONDUCTOR CORP MX | $348K | 0.02% | ~$4.87 | $5.28 | +8.4% | −46.5% | UNCH | Bought Q2 2024 | Q2 2024 |
| 29 | PRIORITY TECHNOLOGY HLDGS IN PRTH | $332K | 0.02% | ~$5.44 | $6.47 | +18.9% | −27.2% | UNCH | Bought Q4 2025 | Q4 2025 |
Filing History
| Period | Portfolio Value | QoQ Change | Positions | Filed |
|---|---|---|---|---|
| Q1 2026 | $1B | −6.8% | 29 | May 15, 2026 |
| Q4 2025 | $2B | +0.9% | 29 | Feb 17, 2026 |
| Q3 2025 | $2B | +10.3% | 29 | Nov 14, 2025 |
| Q2 2025 | $1B | +1.4% | 28 | Aug 14, 2025 |
| Q1 2025 | $1B | +18.5% | 29 | May 15, 2025 |
| Q4 2024 | $1B | +41.6% | 31 | Feb 14, 2025 |
| Q3 2024 | $1B | −7.0% | 31 | Nov 14, 2024 |
| Q2 2024 | $1B | — | 38 | Aug 14, 2024 |
Frequently Asked Questions
What stocks does Prem Watsa - Fairfax Financial own?
As of Q1 2026, Prem Watsa - Fairfax Financial held 29 U.S.-listed positions worth $1B. The largest is ORLA MNG LTD NEW (ORLA) (25.82% of the portfolio). The full holdings list is in the table above.
What is Prem Watsa - Fairfax Financial's largest holding?
ORLA MNG LTD NEW (ORLA) — about 25.82% of the equity portfolio as of Q1 2026.
What did Prem Watsa - Fairfax Financial buy recently?
Their biggest new position last quarter was WENDYS CO (WEN) ($22M).
Do these holdings reflect Prem Watsa - Fairfax Financial's current portfolio?
They reflect the latest 13F filing (Q1 2026), which can lag actual trades by up to 45 days and excludes short positions, cash, and non-U.S. holdings.