Great investors · Prem Watsa · Q4 2024
What Prem Watsa bought and sold in Q4 2024
Fairfax Financial 13F portfolio as of Dec 31, 2024: 31 positions worth $1.6 bn. Largest: ORLA, OXY, BB, Kennedy-Wilson Holdings. Filed with the SEC on Feb 14, 2025.
The 13F is filed by Fairfax Financial, not by Prem Watsa personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q4 2024
- NewCVS HealthCVS+7.8 pp
- IncreasedKraft HeinzKHC+5.1 pp
- IncreasedATSATS+4.6 pp
- NewMolson Coors BeverageTAP+4.4 pp
- NewCleveland-cliffsCLF+3.6 pp
Sells in Q4 2024
- Sold outAlphabetGOOGL−2.9 pp
6 companies with material moves, out of 16 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Fairfax Financial's Q4 2024 13F lists 31 lines of US-listed securities worth $1.6 bn; the largest is ORLA at 20.0% of the portfolio. It was accepted by the SEC on Feb 14, 2025 at 6:03 AM ET.
Against the previous quarter, it opened 4 positions (CVS, TAP, CLF and Revance Therapeutics), closed 4 (GOOGL, INTC, QSR and TGNA), added to 6 (ATS, KHC, HP and PFE and 2 more) and trimmed 2 (CPRI and XERS). 19 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | ORLA Mining ORLA | 56.8 M | $311M | 20.0% | no change |
| 2 | Occidental Petroleum OXY | 6.0 M | $297M | 19.1% | no change |
| 3 | BlackBerry BB | 46.7 M | $177M | 11.3% | no change |
| 4 | Kennedy-Wilson Holdings | 13.3 M | $133M | 8.56% | no change |
| 5 | CVS Health CVS | 2.7 M | $122M | 7.82% | new |
| 6 | Kraft Heinz KHC | 3.3 M | $102M | 6.54% | +342% |
| 7 | ATS ATS | 2.5 M | $73.9M | 4.75% | ×44 |
| 8 | Molson Coors Beverage TAP | 1.2 M | $68.0M | 4.37% | new |
| 9 | Cleveland-cliffs CLF | 5.9 M | $55.5M | 3.56% | new |
| 10 | Under Armour UAA | 6.3 M | $52.3M | 3.36% | no change |
| 11 | Taiwan Semiconductor Manufacturing TSM | 141,700 | $28.0M | 1.80% | no change |
| 12 | Helmerich & Payne HP | 774,105 | $24.8M | 1.59% | +39% |
| 13 | General Motors GM | 375,965 | $20.0M | 1.29% | no change |
| 14 | Bank of Nova Scotia BNS | 359,100 | $19.3M | 1.24% | +24% |
| 15 | Pfizer PFE | 650,900 | $17.3M | 1.11% | +41% |
| 16 | Merck MRK | 172,900 | $17.2M | 1.11% | no change |
| 17 | Johnson & Johnson JNJ | 73,400 | $10.6M | 0.68% | no change |
| 18 | Micron Technology MU | 80,000 | $6.7M | 0.43% | no change |
| 19 | KKR KKR | 23,500 | $3.5M | 0.22% | no change |
| 20 | Colliers International Group CIGI | 25,000 | $3.3M | 0.21% | no change |
| 21 | Garrett Motion GTX | 304,360 | $2.7M | 0.18% | +6.5% |
| 22 | Gentex GNTX | 85,000 | $2.4M | 0.16% | no change |
| 23 | Franco Nevada FNV | 16,800 | $2.0M | 0.13% | no change |
| 24 | TFI International TFII | 13,300 | $1.8M | 0.11% | no change |
| 25 | Capri Holdings CPRI | 78,100 | $1.6M | 0.11% | −61% |
| 26 | Autohome ATHM | 54,000 | $1.4M | 0.09% | no change |
| 27 | MGM Resorts International MGM | 29,500 | $1.0M | 0.07% | no change |
| 28 | Berkshire Hathaway BRK/A | 1 | $680K | 0.04% | no change |
| 29 | Magnachip Semiconductor MX | 125,000 | $501K | 0.03% | no change |
| 30 | Xeris Biopharma Holdings XERS | 139,687 | $472K | 0.03% | −18% |
| 31 | Revance Therapeutics | 21,158 | $64.1K | 0.00% | new |
Positions it closed (4)
- Alphabet GOOGLwas 4.14% · 274,620 shares
- Intel INTCwas 0.41% · 190,000 shares
- Restaurant Brands International QSRwas 0.27% · 42,000 shares
- Tegna TGNAwas 0.05% · 32,000 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Fairfax Financial's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.