
	Prem Watsa 13F
	Fairfax Financial Holdings

	Last update 2023-02-15	75 Stocks (9 new)
	Value $3.69 Bil	Turnover 0 %
	Top Holdings: ATCO(51.93%) RFP(17.85%) KW(5.67%) MU(4.68%) BB(4.11%) Portfolio Report

Prem Watsa Profile

Prem Watsa was born on Aug. 5, 1950. His parents were originally from the small Christian community in the southern city of Mangalore, India. He studied at the Indian Institute of Technology, with a major in chemical engineering. On Sept. 11, 1972, Watsa arrived in London, Ontario with $8 in his pocket and a $600 draft toward the first year's tuition. He attended the MBA program at what later became the Ivey Business School at the University of Western Ontario. He took his first job Confederation Life in 1974. John Watson, the director of research, handed him the book, "Security Analysis."
Watsa's Fairfax Financial is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.
Fairfax's corporate objective is to achieve a high rate of return on invested capital and build long-term shareholder value. Fairfax seeks to differentiate itself by combining disciplined underwriting with the investment of its assets on a total return basis, which Fairfax believes provides above-average returns over the long-term.

Prem Watsa Investing Philosophy

In 1985, Watsa met Francis Chou, who told him how Warren Buffett made his money through investing Berkshire Hathaway's insurance float. As such, he based Fairfax Financial's strategy off this practive as well. Watsa emphasizes a conservative value investment philosophy, seeking to invest assets on a total return basis, which includes realized and unrealized gains over the long term.

Prem Watsa Portfolio and Latest Trades

Ticker
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HRB
INSW
TEN
ORLA
BIL
CIXXF
VIVO
TME
CRDO
SWIR
GRP.U
META
TGNA
NLSN
ATVI
BAM
DVN
EOG
FSTX
GNTX
PXD
TSM
MCFT
FG
MU
ORLA
BAC
HRB
CCAP
PFE
OXY
BNS
INTC
IRBT
AXP
LYLTQ
DOOO
MX
VOO
FSTX
ATCO
BAC
OXY
INTC
CVX
BABA
MCFT
CCAP
VNE
IBA
TFII
FHN
DOOO
CVS
LHCG
CTXS
MGM
UA
FNF
DIN
ATHM
VOO
GOOGL
MU
TEN
ATVI
CCAP
TEN
ATVI
NUAN
VNE
ATHM
IBA
CNNE
CSPR
META
LYLTQ
WW
AGX
CTXS
ATCO
DK
CHNG
NLSN
MCFT
TSAT
VOO
BABA
CCAP
TRIL
NUAN
LORL
TME
TSAT
PNM
CSPR
GTXAP.PFD
VOO
KSU
ICD

Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
HRB	H&R Block Inc	2022-12-31	Sold Out	-1.24%	● 36.51 ($40.64) 43.71	$34.08	-16.14%	Sold Out	0	-1,035,019
INSW	International Seaways Inc	2022-12-31	Sold Out	-0.57%	● 33.12 ($40.47) 46.23	$42.16	4.18%	Sold Out	0	-572,954
TEN	Tenneco Inc	2022-12-31	Sold Out	-0.18%	● 17.53 ($19) 19.99	$19.99	5.21%	Sold Out	0	-375,000
ORLA	Orla Mining Ltd	2022-12-31	Add	+0.05%	● 3.04 ($3.59) 4.28	$4.89	36.21%	Add 4.89%	10,719,650	500,000
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	2022-12-31	New Buy	+0.05%	● 90.35 ($90.7) 91.14	$91.81	1.22%	New holding	18,600	18,600
CIXXF	CI Financial Corp	2022-12-31	New Buy	+0.04%	● 8.89 ($10.09) 11.35	$9.15	-9.32%	New holding	165,200	165,200
VIVO	Meridian Bioscience Inc	2022-12-31	New Buy	+0.04%	● 31.15 ($32.21) 33.39	$33.97	5.46%	New holding	41,400	41,400
TME	Tencent Music Entertainment Group	2022-12-31	Reduce	-0.04%	● 3.61 ($5.62) 8.48	$7.66	36.30%	Reduce -81.66%	75,000	-334,000
CRDO	Credo Technology Group Holding Ltd	2022-12-31	New Buy	+0.03%	● 9.88 ($13.27) 15.36	$8.26	-37.75%	New holding	87,566	87,566
SWIR	Sierra Wireless Inc	2022-12-31	New Buy	+0.03%	● 28.5 ($29.41) 30.8	$30.99	5.37%	New holding	38,200	38,200
GRP.U	Granite Real Estate Investment Trust	2022-12-31	Sold Out	-0.03%	● 46.22 ($53.38) 60.46	$58.19	9.01%	Sold Out	0	-20,000
META	Meta Platforms Inc	2022-12-31	Add	+0.02%	● 88.91 ($117.43) 140.28	$206.01	75.43%	Add 75.71%	12,300	5,300
TGNA	Tegna Inc	2022-12-31	New Buy	+0.02%	● 18.96 ($20.16) 21.27	$15.60	-22.62%	New holding	32,000	32,000
NLSN	Nielsen Holdings PLC	2022-12-31	Sold Out	-0.02%	● 27.87 ($27.94) 27.98	$27.98	0.14%	Sold Out	0	-26,900
ATVI	Activision Blizzard Inc	2022-12-31	Add	+0.01%	● 71.1 ($74.26) 77.36	$84.39	13.64%	Add 6.35%	83,700	5,000
BAM	Brookfield Asset Management Ltd	2022-12-31	New Buy	+0.01%	● 27.11 ($30.09) 33.01	$31.02	3.09%	New holding	12,583	12,583
DVN	Devon Energy Corp	2022-12-31	Reduce	-0.01%	● 59.26 ($68.16) 77.35	$46.57	-31.68%	Reduce -48.28%	6,000	-5,600
EOG	EOG Resources Inc	2022-12-31	Reduce	-0.01%	● 119.93 ($133) 148.26	$105.49	-20.68%	Reduce -50%	2,000	-2,000
FSTX	F-star Therapeutics Inc	2022-12-31	Add	+0.01%	● 4.09 ($5.54) 6.86	$7.12	28.52%	Add 102.46%	49,399	25,000
GNTX	Gentex Corp	2022-12-31	New Buy	+0.01%	● 23.8 ($26.68) 29.28	$26.78	0.37%	New holding	9,800	9,800
PXD	Pioneer Natural Resources Co	2022-12-31	Reduce	-0.01%	● 214 ($243.31) 268.62	$192.22	-21.00%	Reduce -50%	1,000	-1,000
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2022-12-31	Add	+0.01%	● 60.28 ($72.34) 82.98	$92.79	28.27%	Add 5.12%	98,500	4,800
MCFT	MasterCraft Boat Holdings Inc	2022-12-31	Sold Out	-0.01%	● 19.02 ($23.61) 26.38	$30.00	27.06%	Sold Out	0	-10,000
FG	F&G Annuities & Life Inc	2022-12-31	New Buy	0%	● 16.75 ($20.38) 25.67	$17.44	-14.43%	New holding	1,904	1,904
MU	Micron Technology Inc	2022-09-30	Add	+3.91%	● 48.88 ($58) 65.04	$61.16	5.45%	Add 399.29%	3,462,049	2,768,649
ORLA	Orla Mining Ltd	2022-09-30	New Buy	+0.92%	● 2.4 ($3.07) 3.66	$4.89	59.28%	New holding	10,219,650	10,219,650
BAC	Bank of America Corp	2022-09-30	Add	+0.45%	● 30.13 ($33.43) 36.64	$27.14	-18.82%	Add 20.7%	3,101,000	531,771
HRB	H&R Block Inc	2022-09-30	Reduce	-0.11%	● 36.45 ($42.32) 48.44	$34.08	-19.47%	Reduce -7.66%	1,035,019	-85,875
CCAP	Crescent Capital BDC Inc	2022-09-30	Reduce	-0.07%	● 15.02 ($16.87) 18.1	$13.65	-19.09%	Reduce -6.16%	2,092,698	-137,278
PFE	Pfizer Inc	2022-09-30	Add	+0.07%	● 43.76 ($48.59) 53.42	$40.39	-16.88%	Add 14.97%	460,900	60,000
OXY	Occidental Petroleum Corp	2022-09-30	Add	+0.06%	● 57.23 ($64.01) 75.26	$58.18	-9.11%	Add 3.95%	921,500	35,000
BNS	Bank of Nova Scotia	2022-09-30	Add	+0.06%	● 47.57 ($57.16) 63.54	$48.05	-15.94%	Add 17%	289,100	42,000
INTC	Intel Corp	2022-09-30	Add	+0.02%	● 25.77 ($34.09) 40.61	$29.36	-13.88%	Add 4.82%	652,500	30,000
IRBT	iRobot Corp	2022-09-30	Sold Out	-0.02%	● 36.54 ($52.49) 59.92	$43.65	-16.84%	Sold Out	0	-15,000
AXP	American Express Co	2022-09-30	New Buy	+0.01%	● 134.91 ($151.36) 165.84	$159.78	5.56%	New holding	1,600	1,600
LYLTQ	Loyalty Ventures Inc	2022-09-30	Add	+0.01%	● 1.21 ($2.6) 3.88	$0.04	-98.56%	Add 300%	240,000	180,000
DOOO	BRP Inc	2022-09-30	Add	+0.01%	● 61.41 ($70.61) 80.99	$75.56	7.01%	Add 19.77%	21,200	3,500
MX	MagnaChip Semiconductor Corp	2022-09-30	Add	+0.01%	● 10.24 ($13.12) 16.46	$9.11	-30.56%	Add 25%	125,000	25,000
VOO	Vanguard S&P 500 ETF	2022-09-30	Reduce	-0.01%	● 328.3 ($363.71) 393.31	$363.41	-0.08%	Reduce -30%	1,400	-600
FSTX	F-star Therapeutics Inc	2022-09-30	New Buy	0%	● 5.05 ($6.28) 6.74	$7.12	13.38%	New holding	24,399	24,399
ATCO	Atlas Corp	2022-06-30	Add	+9.45%	● 10.65 ($12.6) 14.69	$15.48	22.86%	Add 25.03%	125,081,134	25,043,459
BAC	Bank of America Corp	2022-06-30	New Buy	+2.82%	● 31.13 ($36.09) 41.22	$27.14	-24.80%	New holding	2,569,229	2,569,229
OXY	Occidental Petroleum Corp	2022-06-30	New Buy	+1.84%	● 54.82 ($61.35) 70.86	$58.18	-5.17%	New holding	886,500	886,500
INTC	Intel Corp	2022-06-30	New Buy	+0.82%	● 36.97 ($43.36) 49.56	$29.36	-32.29%	New holding	622,500	622,500
CVX	Chevron Corp	2022-06-30	Add	+0.81%	● 142.43 ($165.26) 181.13	$156.06	-5.57%	Add 101.54%	314,000	158,200
BABA	Alibaba Group Holding Ltd	2022-06-30	Add	+0.60%	● 81.09 ($98.24) 119.62	$86.90	-11.54%	Add 103.62%	292,800	149,000
MCFT	MasterCraft Boat Holdings Inc	2022-06-30	Reduce	-0.26%	● 20.47 ($23.23) 25.47	$30.00	29.14%	Reduce -96.96%	10,000	-318,699
CCAP	Crescent Capital BDC Inc	2022-06-30	Reduce	-0.15%	● 15.28 ($17.15) 18.05	$13.65	-20.41%	Reduce -10.51%	2,229,976	-261,761
VNE	Veoneer Inc	2022-06-30	Sold Out	-0.13%	● 36.95 ($36.95) 36.95	$36.95	0%	Sold Out	0	-104,444
IBA	Industrias Bachoco SAB de CV	2022-06-30	Sold Out	-0.08%	● 39.7 ($45.42) 47.25	$59.08	30.07%	Sold Out	0	-54,000
TFII	TFI International Inc	2022-06-30	New Buy	+0.07%	● 72.99 ($81.82) 106.51	$112.25	37.19%	New holding	23,600	23,600
FHN	First Horizon Corp	2022-06-30	New Buy	+0.05%	● 20.74 ($22.49) 23.62	$16.76	-25.48%	New holding	64,300	64,300
DOOO	BRP Inc	2022-06-30	New Buy	+0.04%	● 61.49 ($74.81) 84.7	$75.56	1.00%	New holding	17,700	17,700
CVS	CVS Health Corp	2022-06-30	Reduce	-0.04%	● 88.66 ($97.65) 106.64	$73.26	-24.98%	Reduce -43.4%	15,000	-11,500
LHCG	LHC Group Inc	2022-06-30	Sold Out	-0.04%	● 154.43 ($164.82) 168.99	$169.81	3.03%	Sold Out	0	-7,400
CTXS	Citrix Systems Inc	2022-06-30	Add	+0.03%	● 89.76 ($99.55) 102.24	$103.90	4.37%	Add 100%	14,200	7,100
MGM	MGM Resorts International	2022-06-30	New Buy	+0.03%	● 27.17 ($35.97) 43.35	$41.11	14.29%	New holding	29,500	29,500
UA	Under Armour Inc	2022-06-30	Add	+0.03%	● 7.58 ($11.31) 15.56	$7.90	-30.15%	Add 92.44%	229,000	110,000
FNF	Fidelity National Financial Inc	2022-06-30	Reduce	-0.02%	● 34.83 ($40.78) 48.84	$33.32	-18.29%	Reduce -30%	28,000	-12,000
DIN	Dine Brands Global Inc	2022-06-30	Reduce	-0.02%	● 63.07 ($71.51) 77.95	$66.50	-7.01%	Reduce -21.57%	20,000	-5,500
ATHM	Autohome Inc	2022-06-30	Reduce	-0.02%	● 24.75 ($31.12) 39.64	$30.85	-0.87%	Reduce -15.45%	93,000	-17,000
VOO	Vanguard S&P 500 ETF	2022-06-30	Reduce	-0.02%	● 335.69 ($375.84) 418.14	$363.41	-3.31%	Reduce -44.69%	2,000	-1,616
GOOGL	Alphabet Inc	2022-06-30	Add	+0.01%	● 105.81 ($118.07) 142.97	$105.44	-10.70%	Add 0.6%	336,620	100
MU	Micron Technology Inc	2022-06-30	Add	+0.01%	● 55.01 ($68.07) 77.89	$61.16	-10.15%	Add 0.46%	693,400	3,200
TEN	Tenneco Inc	2022-06-30	Add	+0.01%	● 14.58 ($16.91) 18.32	$19.99	18.21%	Add 4.72%	375,000	16,900
ATVI	Activision Blizzard Inc	2022-06-30	Add	+0.01%	● 73.93 ($77.83) 80.82	$84.39	8.43%	Add 4.38%	78,700	3,300
CCAP	Crescent Capital BDC Inc	2022-03-31	Reduce	-0.48%	● 17.16 ($17.87) 18.47	$13.65	-23.61%	Reduce -25.37%	2,491,737	-847,262
TEN	Tenneco Inc	2022-03-31	New Buy	+0.22%	● 9.65 ($14.26) 19.35	$19.99	40.18%	New holding	358,100	358,100
ATVI	Activision Blizzard Inc	2022-03-31	New Buy	+0.20%	● 63.11 ($77.76) 82.31	$84.39	8.53%	New holding	75,400	75,400
NUAN	Nuance Communications Inc	2022-03-31	Sold Out	-0.14%	● 54.79 ($55.3) 55.99	$55.99	1.25%	Sold Out	0	-77,000
VNE	Veoneer Inc	2022-03-31	New Buy	+0.13%	● 34.86 ($35.57) 36.95	$36.95	3.88%	New holding	104,444	104,444
ATHM	Autohome Inc	2022-03-31	New Buy	+0.11%	● 21.5 ($30.33) 37	$30.85	1.71%	New holding	110,000	110,000
IBA	Industrias Bachoco SAB de CV	2022-03-31	New Buy	+0.08%	● 37.36 ($41.15) 46.72	$59.08	43.57%	New holding	54,000	54,000
CNNE	Cannae Holdings Inc	2022-03-31	Sold Out	-0.05%	● 23.38 ($28.19) 36.11	$19.12	-32.17%	Sold Out	0	-40,000
CSPR	Casper Sleep Inc	2022-03-31	Sold Out	-0.05%	● 5.2 ($6.25) 6.78	$6.78	8.48%	Sold Out	0	-219,000
META	Meta Platforms Inc	2022-03-31	Add	+0.04%	● 186.63 ($250.52) 338.54	$206.01	-17.77%	Add 400%	7,000	5,600
LYLTQ	Loyalty Ventures Inc	2022-03-31	New Buy	+0.03%	● 16.53 ($24.92) 33.9	$0.04	-99.85%	New holding	60,000	60,000
WW	WW International Inc	2022-03-31	Sold Out	-0.03%	● 9.08 ($11.75) 16.84	$3.98	-66.13%	Sold Out	0	-61,000
AGX	Argan Inc	2022-03-31	Sold Out	-0.03%	● 37.15 ($39.18) 40.95	$39.74	1.43%	Sold Out	0	-27,500
CTXS	Citrix Systems Inc	2022-03-31	New Buy	+0.02%	● 94.3 ($100.97) 106.34	$103.90	2.90%	New holding	7,100	7,100
ATCO	Atlas Corp	2022-03-31	Add	+0.02%	● 13.72 ($14.81) 16.06	$15.48	4.52%	Add 0.05%	100,037,675	48,985
DK	Delek US Holdings Inc	2022-03-31	New Buy	+0.02%	● 15.52 ($18.16) 22.26	$21.87	20.43%	New holding	32,000	32,000
CHNG	Change Healthcare Inc	2022-03-31	Sold Out	-0.02%	● 19.1 ($20.75) 22.24	$27.49	32.48%	Sold Out	0	-33,700
NLSN	Nielsen Holdings PLC	2022-03-31	New Buy	+0.02%	● 16.61 ($19.84) 27.24	$27.98	41.03%	New holding	26,900	26,900
MCFT	MasterCraft Boat Holdings Inc	2022-03-31	Reduce	-0.01%	● 23.71 ($26.59) 29.35	$30.00	12.82%	Reduce -3.1%	328,699	-10,500
TSAT	Telesat Corp	2022-03-31	Add	+0.01%	● 16.45 ($22.32) 30.11	$6.50	-70.88%	Add 15.15%	76,000	10,000
VOO	Vanguard S&P 500 ETF	2022-03-31	Reduce	-0.01%	● 381.42 ($408.14) 437.78	$363.41	-10.96%	Reduce -18.12%	3,616	-800
BABA	Alibaba Group Holding Ltd	2021-12-31	Add	+0.41%	● 111.96 ($145.1) 177.7	$86.90	-40.11%	Add 301.68%	143,800	108,000
CCAP	Crescent Capital BDC Inc	2021-12-31	Reduce	-0.28%	● 17.6 ($19.17) 20.9	$13.65	-28.79%	Reduce -12.04%	3,338,999	-457,247
TRIL	Trillium Therapeutics Inc	2021-12-31	Sold Out	-0.20%	● 17.5 ($17.85) 18.44	$18.44	3.31%	Sold Out	0	-341,000
NUAN	Nuance Communications Inc	2021-12-31	Add	+0.12%	● 54.68 ($55.16) 55.49	$55.99	1.50%	Add 470.37%	77,000	63,500
LORL	Loral Space & Communications Inc	2021-12-31	Sold Out	-0.09%	● 41.52 ($46.58) 55.16	$41.52	-10.86%	Sold Out	0	-66,000
TME	Tencent Music Entertainment Group	2021-12-31	New Buy	+0.09%	● 5.97 ($7.36) 8.85	$7.66	4.08%	New holding	409,000	409,000
TSAT	Telesat Corp	2021-12-31	New Buy	+0.06%	● 0 ($30.16) 34.99	$6.50	-78.45%	New holding	66,000	66,000
PNM	PNM Resources Inc	2021-12-31	Sold Out	-0.05%	● 44.8 ($48.02) 50.04	$48.63	1.27%	Sold Out	0	-27,951
CSPR	Casper Sleep Inc	2021-12-31	New Buy	+0.05%	● 3.19 ($5.41) 6.7	$6.78	25.32%	New holding	219,000	219,000
GTXAP.PFD	Garrett Motion Inc	2021-12-31	New Buy	+0.04%	● 7.74 ($8.13) 8.72	$8.29	1.97%	New holding	159,239	159,239
VOO	Vanguard S&P 500 ETF	2021-12-31	Reduce	-0.04%	● 392.77 ($421.15) 439.01	$363.41	-13.71%	Reduce -44.54%	4,416	-3,547
KSU	Kansas City Southern	2021-12-31	Sold Out	-0.04%	● 276.49 ($299.1) 311.4	$293.59	-1.84%	Sold Out	0	-4,800
ICD	Independence Contract Drilling Inc	2021-12-31	New Buy	+0.04%	● 2.44 ($3.54) 5.45	$2.99	-15.54%	New holding	390,294	390,294

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