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Prem Watsa Buys IBM, Dex Media, Cooper Tire & Rubber, Sells Novadaq, Level 3, SuperMedia
Posted by: GuruFocus (IP Logged)
Date: August 15, 2013 10:34AM

Renowned Canadian value investor Prem Watsa just reported his second quarter portfolio. Prem Watsa buys Resolute Forest Products Inc, Dex Media Inc, Cooper Tire & Rubber Company, IBM, Merck & Co Inc, New York Times etc during the second quarter. He sold Novadaq Technologies Inc., Level 3 Communications Inc, SuperMedia Inc, Zhongpin, Inc., Bristol-Myers Squibb Company, New Oriental Education & Technology Group Inc., Hewlett-Packard Co, Ultra Petroleum Corporation, American Safety Insurance Holdings Ltd.

Fairfax’s largest holding is BlackBerry (BBRY), which is said to seeking a sale. As the largest shareholder, Prem Watsa’s opinion on this will be extremely important. Prem Watsa’s cost per share is estimated to be $17 a share, which is now 36% under water. This is the history of Prem Watsa’s holding of BlackBerry:



According to the most recent filings of his investment company, Fairfax Financial Holdings, Fairfax Financial Holdings owns 41 stocks with a total value of $2.5 billion as of 6/30/2013. These are the details of the buys and sells.

For the details of Prem Watsa's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Prem+Watsa

This is the sector weightings of his portfolio:

Technology 26.6%
Healthcare 20.7%
Basic Materials 15.3%
Communication Services 10.6%
Energy 9.5%
Financial Services 7.6%
Consumer Cyclical 3.6%
Consumer Defensive 0.9%
Industrials 0.4%
Real Estate 0.3%


These are the top 5 holdings of Prem Watsa

1. BlackBerry Ltd (BBRY) - 51,854,700 shares, 21.8% of the total portfolio.

2. Johnson & Johnson (JNJ) - 5,915,800 shares, 20.4% of the total portfolio. Shares reduced by 0.43%

3. Resolute Forest Products Inc (RFP) - 28,957,327 shares, 15.3% of the total portfolio. Shares added by 16.87%

4. Level 3 Communications Inc (LVLT) - 12,071,803 shares, 10.2% of the total portfolio. Shares reduced by 6.65%

5. SandRidge Energy Inc (SD) - 32,463,200 shares, 6.2% of the total portfolio.

New Purchase: Dex Media Inc (DXM)

Prem Watsa initiated holdings in Dex Media Inc. His purchase prices were between $11.35 and $22.12, with an estimated average price of $17.63. The impact to his portfolio due to this purchase was 0.11%. His holdings were 159,198 shares as of 06/30/2013.

New Purchase: International Business Machines Corp (IBM)

Prem Watsa initiated holdings in International Business Machines Corp. His purchase prices were between $187.83 and $214.36, with an estimated average price of $203.7. The impact to his portfolio due to this purchase was 0.01%. His holdings were 1,200 shares as of 06/30/2013.

New Purchase: Cooper Tire & Rubber Company (CTB)

Prem Watsa initiated holdings in Cooper Tire & Rubber Company. His purchase prices were between $23.25 and $34.66, with an estimated average price of $26.41. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,000 shares as of 06/30/2013.

Sold Out: Novadaq Technologies Inc. (NVDQ)

Prem Watsa sold out his holdings in Novadaq Technologies Inc.. His sale prices were between $9.93 and $14.76, with an estimated average price of $12.83.

Sold Out: Zhongpin, Inc. (HOGS)

Prem Watsa sold out his holdings in Zhongpin, Inc.. His sale prices were between $12.8 and $13.41, with an estimated average price of $13.06.

Sold Out: Bristol-Myers Squibb Company (BMY)

Prem Watsa sold out his holdings in Bristol-Myers Squibb Company. His sale prices were between $39.68 and $47.68, with an estimated average price of $43.41.

Added: Resolute Forest Products Inc (RFP)

Prem Watsa added to his holdings in Resolute Forest Products Inc by 16.87%. His purchase prices were between $12.7 and $16.49, with an estimated average price of $14.88. The impact to his portfolio due to this purchase was 2.21%. His holdings were 28,957,327 shares as of 06/30/2013.

Added: New York Times Company (NYT)

Prem Watsa added to his holdings in New York Times Company by 40%. His purchase prices were between $8.73 and $11.06, with an estimated average price of $9.83. The impact to his portfolio due to this purchase was 0.01%. His holdings were 70,000 shares as of 06/30/2013.

Added: Merck & Co Inc (MRK)

Prem Watsa added to his holdings in Merck & Co Inc by 50%. His purchase prices were between $44.35 and $49.44, with an estimated average price of $46.81. The impact to his portfolio due to this purchase was 0.01%. His holdings were 12,000 shares as of 06/30/2013.

Reduced: Level 3 Communications Inc (LVLT)

Prem Watsa reduced to his holdings in Level 3 Communications Inc by 6.65%. His sale prices were between $19.34 and $23.99, with an estimated average price of $21.33. The impact to his portfolio due to this sale was -0.65%. Prem Watsa still held 12,071,803 shares as of 06/30/2013.

Reduced: Ultra Petroleum Corporation (UPL)

Prem Watsa reduced to his holdings in Ultra Petroleum Corporation by 59.88%. His sale prices were between $18.74 and $24.04, with an estimated average price of $21.38. The impact to his portfolio due to this sale was -0.01%. Prem Watsa still held 13,400 shares as of 06/30/2013.

Reduced: Hewlett-Packard Co (HPQ)

Prem Watsa reduced to his holdings in Hewlett-Packard Co by 53.92%. His sale prices were between $19.56 and $25.44, with an estimated average price of $22.48. The impact to his portfolio due to this sale was -0.01%. Prem Watsa still held 9,400 shares as of 06/30/2013.

Reduced: New Oriental Education & Technology Group Inc. (EDU)

Prem Watsa reduced to his holdings in New Oriental Education & Technology Group Inc. by 50%. His sale prices were between $16.07 and $22.56, with an estimated average price of $19.69. The impact to his portfolio due to this sale was -0.01%. Prem Watsa still held 11,100 shares as of 06/30/2013.

Reduced: American Safety Insurance Holdings Ltd. (ASI)

Prem Watsa reduced to his holdings in American Safety Insurance Holdings Ltd. by 19%. The impact to his portfolio due to this sale was -0.28%. Prem Watsa still held 1,001,301 shares as of 06/30/2013.

Here is the complete portfolio of Prem Watsa. Also check out:

1. Prem Watsa's Undervalued Stocks
2. Prem Watsa's Top Growth Companies, and
3. Prem Watsa's High Yield stocks
4. Stocks that Prem Watsa keeps buying




Guru Discussed: Prem Watsa: Current Portfolio, Stock Picks
Stocks Discussed: IBM, DXM, CTB, TSX:FFH, LVLT, RFP,
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