Prem Watsa - Fairfax Financial Holdings
Fairfax Financial Holdings
Latest 13F filing
Q4 2025
filed Feb 17, 2026
Portfolio value
$2.08B
Positions
29
Top 10 concentration
86.9%
QoQ change
+0.9%
+$18.81M
Activity vs. Q3 2025
3
New positions
2
Added to
20
Unchanged
4
Reduced
41
Exited
Portfolio composition — Q4 2025
- ORLAORLA MINING LTD20.3%
- OXYOCCIDENTAL PETROLEUM CORP11.9%
- CVSCVS HEALTH CORP10.3%
- UAAUNDER ARMOUR INC10.0%
- CLFCLEVELAND-CLIFFS INC9.5%
- BBBLACKBERRY LTD6.3%
- KWKENNEDY-WILSON HOLDINGS INC6.2%
- KHCKRAFT HEINZ CO6.0%
- ATSATS CORP3.3%
- TAPMOLSON COORS BEVERAGE CO3.0%
- Other19 more positions13.1%
Top buys
New & added positions, by size
Holdings as of Q4 2025
| # | Ticker | Issuer | Shares | Value | % Portfolio | Reported price | Action | Δ Shares |
|---|---|---|---|---|---|---|---|---|
| 1 | ORLA | ORLA MINING LTD | 31,817,229 | $423.61M | 20.33% | $13.31 | REDUCE | -44.0% |
| 2 | OXY | OCCIDENTAL PETROLEUM CORP | 6,050,418 | $248.73M | 11.94% | $41.11 | — | 0% |
| 3 | CVS | CVS HEALTH CORP | 2,712,000 | $215.20M | 10.33% | $79.35 | — | 0% |
| 4 | UAA | UNDER ARMOUR INC | 41,958,923 | $208.54M | 10.01% | $4.97 | ADD | +564.8% |
| 5 | CLF | CLEVELAND-CLIFFS INC | 14,899,273 | $197.71M | 9.49% | $13.27 | — | 0% |
| 6 | BB | BLACKBERRY LTD | 34,980,220 | $132.23M | 6.35% | $3.78 | REDUCE | -1.2% |
| 7 | KW | KENNEDY-WILSON HOLDINGS INC | 13,322,009 | $128.82M | 6.18% | $9.67 | — | 0% |
| 8 | KHC | KRAFT HEINZ CO | 5,119,000 | $124.08M | 5.96% | $24.24 | — | 0% |
| 9 | ATS | ATS CORP | 2,486,400 | $68.28M | 3.28% | $27.46 | — | 0% |
| 10 | TAP | MOLSON COORS BEVERAGE CO | 1,338,500 | $62.49M | 3.00% | $46.69 | ADD | +3.8% |
| 11 | UA | UNDER ARMOUR INC | 9,457,355 | $45.40M | 2.18% | $4.80 | NEW | — |
| 12 | VOO | VANGUARD INDEX FUNDS | 58,248 | $36.52M | 1.75% | $627.05 | — | 0% |
| 13 | HP | HELMERICH & PAYNE INC | 1,174,105 | $33.66M | 1.62% | $28.67 | — | 0% |
| 14 | GM | GENERAL MOTORS CO | 375,965 | $30.58M | 1.47% | $81.33 | — | 0% |
| 15 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | 93,700 | $28.47M | 1.37% | $303.79 | — | 0% |
| 16 | BNS | BANK OF NOVA SCOTIA | 359,100 | $26.49M | 1.27% | $73.76 | — | 0% |
| 17 | PFE | PFIZER INC | 890,900 | $22.18M | 1.06% | $24.90 | — | 0% |
| 18 | MRK | MERCK & CO INC | 172,900 | $18.20M | 0.87% | $105.27 | — | 0% |
| 19 | JNJ | JOHNSON & JOHNSON | 73,400 | $15.19M | 0.73% | $206.95 | — | 0% |
| 20 | GTX | GARRETT MOTION INC | 260,460 | $4.54M | 0.22% | $17.43 | REDUCE | -13.7% |
| 21 | CIGI | COLLIERS INTL GROUP INC | 22,000 | $3.19M | 0.15% | $145.07 | — | 0% |
| 22 | LULU | LULULEMON ATHLETICA INC | 12,500 | $2.60M | 0.12% | $207.73 | REDUCE | -50.0% |
| 23 | CNI | CANADIAN NATIONAL RAILWAY CO | 19,800 | $1.96M | 0.09% | $99.00 | NEW | — |
| 24 | CPRI | CAPRI HOLDINGS LTD | 78,100 | $1.91M | 0.09% | $24.40 | — | 0% |
| 25 | PENN | PENN ENTERTAINMENT INC | 54,900 | $809.23K | 0.04% | $14.74 | — | 0% |
| 26 | BRK/A | BERKSHIRE HATHAWAY INC | 1 | $753.25K | 0.04% | $753250.00 | — | 0% |
| 27 | — | BRIGHTSTAR LOTTERY PLC | 36,633 | $566.71K | 0.03% | $15.47 | — | 0% |
| 28 | PRTH | PRIORITY TECH HOLDINGS INC | 70,500 | $383.52K | 0.02% | $5.44 | NEW | — |
| 29 | MX | MAGNACHIP SEMICONDUCTOR CORP | 125,000 | $316.25K | 0.02% | $2.53 | — | 0% |
Positions exited in Q4 2025
| Ticker | Issuer | Prior shares |
|---|---|---|
| LWAY | LIFEWAY FOODS INC | 0 |
| BN | BROOKFIELD CORP | 0 |
| MGM | MGM RESORTS INTERNATIONAL | 0 |
| FHN | FIRST HORIZON CORP | 0 |
| TXNM | PNM RES INC | 0 |
| QSR | RESTAURANT BRANDS INTL INC | 0 |
| INTC | INTEL CORP | 0 |
| TGNA | TEGNA INC | 0 |
| META | META PLATFORMS INC | 0 |
| LBRDK | LIBERTY BROADBAND CORP | 0 |
| CP | CANADIAN PACIFIC KANSAS CITY | 0 |
| — | CREDO TECHNOLOGY GROUP HOLDING | 0 |
| GE | GENERAL ELECTRIC CO | 0 |
| MU | MICRON TECHNOLOGY INC | 0 |
| XERS | XERIS BIOPHARMA HOLDINGS INC | 0 |
| RVNCEUR | REVANCE THERAPEUTICS INC | 0 |
| MIDD | MIDDLEBY CORP | 0 |
| USX1 | UNITED STATES STL CORP | 0 |
| J | JACOBS SOLUTIONS INC | 0 |
| SLCAUSD | U S SILICA HOLDINGS INC | 0 |
| DAR | DARLING INGREDIENTS INC | 0 |
| BIL | SPDR SER TR | 0 |
| EPAM | EPAM SYSTEMS INC | 0 |
| OREUR | OSISKO GOLD ROYALTIES LTD | 0 |
| TFII | TFI INTL INC | 0 |
| CCAP | CRESCENT CAPITAL BDC INC | 0 |
| DOO | BRP INC | 0 |
| IMAX | IMAX CORP | 0 |
| S9Q | SPIRIT AEROSYSTEMS HLDGS INC | 0 |
| DLTR | DOLLAR TREE INC | 44,380 |
| DIN | DINE BRANDS GLOBAL INC | 0 |
| GNTX | GENTEX CORP | 0 |
| BEN | FRANKLIN RESOURCES INC | 0 |
| DENN | DENNY'S CORP | 0 |
| DK | DELEK US HOLDINGS INC | 0 |
| ICDUSD | INDEPENDENCE CONTRACT DRILLING | 0 |
| BABA | ALIBABA GROUP HLDG LTD | 0 |
| GOOGL | ALPHABET INC | 0 |
| FNV | FRANCO-NEVADA CORP | 16,800 |
| KKR | KKR & CO INC | 20,000 |
| ATHM | AUTOHOME INC | 0 |
Source: SEC EDGAR 13F-HR filing Feb 17, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0000915191.