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.
This is the sector weightings of his portfolio:
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, Financial)
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, Financial)
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, Financial)
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, Financial)
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, Financial)
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
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.
- New Purchases: DXM, CTB, IBM,
- Added Positions: RFP, MRK, NYT,
- Reduced Positions: LVLT, EDU, HPQ, UPL, ASI,
- Sold Out: NVDQ, HOGS, BMY,
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, Financial)
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, Financial)
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, Financial)
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, Financial)
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, Financial)
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
