Great investors · Prem Watsa · Q1 2026
What Prem Watsa bought and sold in Q1 2026
Fairfax Financial 13F portfolio as of Mar 31, 2026: 29 positions worth $1.9 bn. Largest: ORLA, UAA, CVS, Kennedy-Wilson Holdings. Filed with the SEC on May 15, 2026.
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 Q1 2026
- IncreasedUnder ArmourUA+3.5 pp
- NewWendy'sWEN+1.1 pp
Sells in Q1 2026
- Sold outOccidental PetroleumOXY−11.9 pp
- Sold outVanguard S&P 500 ETFVOO−1.8 pp
4 companies with material moves, out of 13 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 Q1 2026 13F lists 29 lines of US-listed securities worth $1.9 bn; the largest is ORLA at 25.8% of the portfolio. It was accepted by the SEC on May 15, 2026 at 6:09 AM ET.
Against the previous quarter, it opened 2 positions (WEN and WBD), closed 2 (OXY and VOO), added to 8 (UA, UAA, TAP and KHC and 4 more) and trimmed 1 (GTX). 18 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | ORLA Mining ORLA | 31.8 M | $502M | 25.8% | no change |
| 2 | Under Armour UAA | 43.0 M | $254M | 13.1% | +2.5% |
| 3 | CVS Health CVS | 2.7 M | $195M | 10.0% | no change |
| 4 | Kennedy-Wilson Holdings | 13.3 M | $144M | 7.43% | no change |
| 5 | Under Armour UA | 22.0 M | $127M | 6.53% | +133% |
| 6 | Cleveland-cliffs CLF | 14.9 M | $126M | 6.47% | no change |
| 7 | Kraft Heinz KHC | 5.3 M | $118M | 6.10% | +2.9% |
| 8 | BlackBerry BB | 35.0 M | $113M | 5.83% | no change |
| 9 | ATS ATS | 2.5 M | $69.4M | 3.57% | no change |
| 10 | Molson Coors Beverage TAP | 1.4 M | $61.9M | 3.19% | +7.5% |
| 11 | Helmerich & Payne HP | 1.2 M | $42.3M | 2.18% | no change |
| 12 | Taiwan Semiconductor Manufacturing TSM | 93,700 | $31.7M | 1.63% | no change |
| 13 | General Motors GM | 375,965 | $28.0M | 1.44% | no change |
| 14 | Pfizer PFE | 990,900 | $27.8M | 1.43% | +11% |
| 15 | Bank of Nova Scotia BNS | 359,100 | $24.8M | 1.28% | no change |
| 16 | Wendy's WEN | 3.3 M | $22.8M | 1.17% | new |
| 17 | Merck MRK | 172,900 | $20.8M | 1.07% | no change |
| 18 | Johnson & Johnson JNJ | 73,400 | $17.9M | 0.92% | no change |
| 19 | Garrett Motion GTX | 184,460 | $3.4M | 0.17% | −29% |
| 20 | Colliers International Group CIGI | 25,000 | $2.6M | 0.13% | +14% |
| 21 | Canadian National Railway CNI | 24,800 | $2.5M | 0.13% | +25% |
| 22 | lululemon athletica LULU | 12,500 | $1.9M | 0.10% | no change |
| 23 | Warner Bros. Discovery WBD | 57,900 | $1.6M | 0.08% | new |
| 24 | Capri Holdings CPRI | 78,100 | $1.4M | 0.07% | no change |
| 25 | Brightstar Lottery BRSL | 68,733 | $875K | 0.05% | +88% |
| 26 | PENN Entertainment PENN | 54,900 | $825K | 0.04% | no change |
| 27 | Berkshire Hathaway BRK/A | 1 | $718K | 0.04% | no change |
| 28 | Magnachip Semiconductor MX | 125,000 | $349K | 0.02% | no change |
| 29 | Priority Technology Holdings PRTH | 70,500 | $333K | 0.02% | no change |
Positions it closed (2)
- Occidental Petroleum OXYwas 11.9% · 6.1 M shares
- Vanguard Index Funds VOOwas 1.75% · 58,248 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.