PaperPanda Fund Terminal
Prem Watsa
FAIRFAX FINANCIAL HOLDINGS LTD/ CAN · CIK: 915191 · Report Period: 2025-12-31 · Filed: 2026-02-17
Portfolio Concentration
Top 10 holdings by weight — hover for cross-investor insights
Loading chart data...
Holdings
Total: $2,083,409,107 · 29 positions
| # | Ticker | Issuer | Class | % of Portfolio | Value ($) | Shares | Activity | Share Change |
|---|---|---|---|---|---|---|---|---|
| 1 |
|
ORLA MINING LTD | COM | 20.3% | $423,610,745 | 31,817,229 | REDUCE | -25,000,000 |
| 2 |
|
OCCIDENTAL PETROLEUM CORP | COM | 11.9% | $248,732,684 | 6,050,418 | - | - |
| 3 |
|
CVS HEALTH CORP | COM | 10.3% | $215,197,200 | 2,712,000 | - | - |
| 4 |
|
UNDER ARMOUR INC | COM | 10.0% | $208,535,847 | 41,958,923 | ADD | +35,647,123 |
| 5 |
|
CLEVELAND-CLIFFS INC | COM | 9.5% | $197,713,353 | 14,899,273 | - | - |
| 6 |
|
BLACKBERRY LTD | COM | 6.3% | $132,225,232 | 34,980,220 | REDUCE | -415,100 |
| 7 |
|
KENNEDY-WILSON HOLDINGS INC | COM | 6.2% | $128,823,827 | 13,322,009 | - | - |
| 8 |
|
KRAFT HEINZ CO | COM | 6.0% | $124,084,560 | 5,119,000 | - | - |
| 9 |
|
ATS CORP | COM | 3.3% | $68,282,019 | 2,486,400 | - | - |
| 10 |
|
MOLSON COORS BEVERAGE CO | COM | 3.0% | $62,494,565 | 1,338,500 | ADD | +48,429 |
| 11 |
|
UNDER ARMOUR INC | COM | 2.2% | $45,395,304 | 9,457,355 | NEW BUY | +9,457,355 |
| 12 |
|
VANGUARD INDEX FUNDS | COM | 1.8% | $36,524,408 | 58,248 | - | - |
| 13 |
|
HELMERICH & PAYNE INC | COM | 1.6% | $33,661,590 | 1,174,105 | - | - |
| 14 |
|
GENERAL MOTORS CO | COM | 1.5% | $30,577,233 | 375,965 | - | - |
| 15 |
|
TAIWAN SEMICONDUCTOR MFG LTD | COM | 1.4% | $28,465,123 | 93,700 | - | - |
| 16 |
|
BANK OF NOVA SCOTIA | COM | 1.3% | $26,488,048 | 359,100 | - | - |
| 17 |
|
PFIZER INC | COM | 1.1% | $22,183,410 | 890,900 | - | - |
| 18 |
|
MERCK & CO INC | COM | 0.9% | $18,201,183 | 172,900 | - | - |
| 19 |
|
JOHNSON & JOHNSON | COM | 0.7% | $15,190,130 | 73,400 | - | - |
| 20 |
|
GARRETT MOTION INC | COM | 0.2% | $4,539,818 | 260,460 | REDUCE | -41,400 |
| 21 |
|
COLLIERS INTL GROUP INC | COM | 0.1% | $3,191,465 | 22,000 | - | - |
| 22 |
|
LULULEMON ATHLETICA INC | COM | 0.1% | $2,596,625 | 12,500 | REDUCE | -12,500 |
| 23 |
|
CANADIAN NATIONAL RAILWAY CO | COM | 0.1% | $1,960,139 | 19,800 | NEW BUY | +19,800 |
| 24 |
|
CAPRI HOLDINGS LTD | COM | 0.1% | $1,905,640 | 78,100 | - | - |
| 25 |
|
PENN ENTERTAINMENT INC | COM | 0.0% | $809,226 | 54,900 | - | - |
Position Changes
8 quarters available
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | GTX | GARRETT MOTION INC | REDUCE | -41,400 | -13.7% | 260,460 | $4,539,818 |
| 2 | UAA | UNDER ARMOUR INC | ADD | +35,647,123 | +564.8% | 41,958,923 | $208,535,847 |
| 3 | ORLA | ORLA MINING LTD | REDUCE | -25,000,000 | -44.0% | 31,817,229 | $423,610,745 |
| 4 | PRTH | PRIORITY TECH HOLDINGS INC | NEW BUY | +70,500 | New | 70,500 | $383,520 |
| 5 | UAC | UNDER ARMOUR INC | NEW BUY | +9,457,355 | New | 9,457,355 | $45,395,304 |
| 6 | CNI | CANADIAN NATIONAL RAILWAY CO | NEW BUY | +19,800 | New | 19,800 | $1,960,139 |
| 7 | - | DOLLAR TREE INC | SOLD | -44,380 | Exit | - | - |
| 8 | - | KKR & CO INC | SOLD | -20,000 | Exit | - | - |
| 9 | LULU | LULULEMON ATHLETICA INC | REDUCE | -12,500 | -50.0% | 12,500 | $2,596,625 |
| 10 | TAP | MOLSON COORS BEVERAGE CO | ADD | +48,429 | +3.8% | 1,338,500 | $62,494,565 |
| 11 | - | FRANCO-NEVADA CORP | SOLD | -16,800 | Exit | - | - |
| 12 | BBRY | BLACKBERRY LTD | REDUCE | -415,100 | -1.2% | 34,980,220 | $132,225,232 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | GTX | GARRETT MOTION INC | REDUCE | -2,500 | -0.8% | 301,860 | $4,108,315 |
| 2 | VOO | VANGUARD INDEX FUNDS | REDUCE | -14,652 | -20.1% | 58,248 | $35,666,998 |
| 3 | HP | HELMERICH & PAYNE INC | ADD | +200,000 | +20.5% | 1,174,105 | $25,947,721 |
| 4 | KHC | KRAFT HEINZ CO | ADD | +235,000 | +4.8% | 5,119,000 | $133,247,570 |
| 5 | - | AUTOHOME INC | SOLD | -54,000 | Exit | - | - |
| 6 | - | LIFEWAY FOODS INC | SOLD | -31,618 | Exit | - | - |
| 7 | - | DOLLAR TREE INC | NEW BUY | +44,380 | New | 44,380 | $4,185,922 |
| 8 | PFE | PFIZER INC | ADD | +240,000 | +36.9% | 890,900 | $22,691,223 |
| 9 | LULU | LULULEMON ATHLETICA INC | NEW BUY | +25,000 | New | 25,000 | $4,445,500 |
| 10 | IGT | BRIGHTSTAR LOTTERY PLC | NEW BUY | +36,633 | New | 36,633 | $631,919 |
| 11 | TAP | MOLSON COORS BEVERAGE CO | ADD | +71,571 | +5.9% | 1,290,071 | $58,362,812 |
| 12 | BBRY | BLACKBERRY LTD | REDUCE | -5,389,380 | -13.2% | 35,395,320 | $172,375,208 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | GENTEX CORP | SOLD | -85,000 | Exit | - | - |
| 2 | - | MGM RESORTS INTERNATIONAL | SOLD | -29,500 | Exit | - | - |
| 3 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | REDUCE | -48,000 | -33.9% | 93,700 | $21,208,995 |
| 4 | VOO | VANGUARD INDEX FUNDS | NEW BUY | +72,900 | New | 72,900 | $41,403,555 |
| 5 | HP | HELMERICH & PAYNE INC | ADD | +200,000 | +25.8% | 974,105 | $14,767,432 |
| 6 | KHC | KRAFT HEINZ CO | ADD | +1,525,000 | +45.4% | 4,884,000 | $126,056,040 |
| 7 | - | LIFEWAY FOODS INC | ADD | +14,251 | +82.1% | 31,618 | $779,384 |
| 8 | PENN | PENN ENTERTAINMENT INC | NEW BUY | +54,900 | New | 54,900 | $981,063 |
| 9 | TAP | MOLSON COORS BEVERAGE CO | ADD | +12,000 | +1.0% | 1,218,500 | $58,597,665 |
| 10 | - | MICRON TECHNOLOGY INC | SOLD | -80,000 | Exit | - | - |
| 11 | OXY | OCCIDENTAL PETROLEUM CORP | ADD | +30,000 | +0.5% | 6,050,418 | $254,117,556 |
| 12 | BBRY | BLACKBERRY LTD | REDUCE | -5,940,000 | -12.7% | 40,784,700 | $186,793,926 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | XERIS BIOPHARMA HOLDINGS INC | SOLD | -139,687 | Exit | - | - |
| 2 | KHC | KRAFT HEINZ CO | ADD | +45,000 | +1.4% | 3,359,000 | $102,180,780 |
| 3 | CLF | CLEVELAND-CLIFFS INC | ADD | +9,000,000 | +152.6% | 14,899,273 | $122,472,024 |
| 4 | - | LIFEWAY FOODS INC | NEW BUY | +17,367 | New | 17,367 | $424,623 |
| 5 | - | REVANCE THERAPEUTICS INC | SOLD | -21,158 | Exit | - | - |
| 6 | - | KKR & CO INC | REDUCE | -3,500 | -14.9% | 20,000 | $2,312,200 |
| 7 | CIGI | COLLIERS INTL GROUP INC | REDUCE | -3,000 | -12.0% | 22,000 | $2,590,933 |
| 8 | TAP | MOLSON COORS BEVERAGE CO | ADD | +20,000 | +1.7% | 1,206,500 | $73,463,785 |
| 9 | - | TFI INTL INC | SOLD | -13,300 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | BNS | BANK OF NOVA SCOTIA | ADD | +70,000 | +24.2% | 359,100 | $19,271,765 |
| 2 | CPRI | CAPRI HOLDINGS LTD | REDUCE | -124,000 | -61.4% | 78,100 | $1,644,005 |
| 3 | - | XERIS BIOPHARMA HOLDINGS INC | REDUCE | -31,250 | -18.3% | 139,687 | $472,142 |
| 4 | GTX | GARRETT MOTION INC | ADD | +18,600 | +6.5% | 304,360 | $2,745,327 |
| 5 | ATSAF | ATS CORP | ADD | +2,429,700 | +4285.2% | 2,486,400 | $73,870,688 |
| 6 | - | INTEL CORP | SOLD | -190,000 | Exit | - | - |
| 7 | HP | HELMERICH & PAYNE INC | ADD | +219,000 | +39.5% | 774,105 | $24,786,842 |
| 8 | KHC | KRAFT HEINZ CO | ADD | +2,564,000 | +341.9% | 3,314,000 | $101,772,940 |
| 9 | CVS | CVS HEALTH CORP | NEW BUY | +2,712,000 | New | 2,712,000 | $121,741,680 |
| 10 | - | ALPHABET INC | SOLD | -274,620 | Exit | - | - |
| 11 | CLF | CLEVELAND-CLIFFS INC | NEW BUY | +5,899,273 | New | 5,899,273 | $55,453,166 |
| 12 | - | TEGNA INC | SOLD | -32,000 | Exit | - | - |
| 13 | - | REVANCE THERAPEUTICS INC | NEW BUY | +21,158 | New | 21,158 | $64,109 |
| 14 | PFE | PFIZER INC | ADD | +190,000 | +41.2% | 650,900 | $17,274,886 |
| 15 | TAP | MOLSON COORS BEVERAGE CO | NEW BUY | +1,186,500 | New | 1,186,500 | $68,010,180 |
| 16 | - | RESTAURANT BRANDS INTL INC | SOLD | -42,000 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | UNITED STATES STL CORP | SOLD | -8,900 | Exit | - | - |
| 2 | - | FRANKLIN RESOURCES INC | SOLD | -1,000,000 | Exit | - | - |
| 3 | - | LIBERTY BROADBAND CORP | SOLD | -14,780 | Exit | - | - |
| 4 | ATSAF | ATS CORPORATION | NEW BUY | +56,700 | New | 56,700 | $1,626,775 |
| 5 | KHC | KRAFT HEINZ CO | NEW BUY | +750,000 | New | 750,000 | $26,317,500 |
| 6 | - | AUTOHOME INC | REDUCE | -39,000 | -41.9% | 54,000 | $1,764,180 |
| 7 | - | SPIRIT AEROSYSTEMS HLDGS INC | SOLD | -152,000 | Exit | - | - |
| 8 | - | ALIBABA GROUP HLDG LTD | SOLD | -292,800 | Exit | - | - |
| 9 | UAA | UNDER ARMOUR INC | ADD | +2,088,100 | +49.4% | 6,311,800 | $56,238,138 |
| 10 | ORLA | ORLA MINING LTD | ADD | +1,162,000 | +2.1% | 56,817,229 | $225,847,381 |
| 11 | VOO | VANGUARD INDEX FDS | SOLD | -95,000 | Exit | - | - |
| 12 | - | BRP INC | SOLD | -21,200 | Exit | - | - |
| 13 | - | PNM RES INC | SOLD | -17,000 | Exit | - | - |
| 14 | - | FRANCO NEV CORP | ADD | +3,000 | +21.7% | 16,800 | $2,065,693 |
| 15 | - | MICRON TECHNOLOGY INC | ADD | +39,900 | +99.5% | 80,000 | $8,296,000 |
| 16 | - | META PLATFORMS INC | SOLD | -12,800 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | CPRI | CAPRI HOLDINGS LTD | ADD | +13,900 | +7.4% | 202,100 | $6,679,405 |
| 2 | - | CANADIAN PACIFIC KANSAS CITY | SOLD | -19,100 | Exit | - | - |
| 3 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | ADD | +48,000 | +51.2% | 141,700 | $24,631,711 |
| 4 | - | GENERAL ELECTRIC CO | SOLD | -25,600 | Exit | - | - |
| 5 | CVS | CVS HEALTH CORP | SOLD | -15,000 | Exit | - | - |
| 6 | - | CREDO TECHNOLOGY GROUP HOLDING | SOLD | -87,566 | Exit | - | - |
| 7 | - | XERIS BIOPHARMA HOLDINGS INC | ADD | +19,542 | +12.9% | 170,937 | $382,899 |
| 8 | UAA | UNDER ARMOUR INC | NEW BUY | +4,223,700 | New | 4,223,700 | $28,172,079 |
| 9 | VOO | VANGUARD INDEX FDS | ADD | +87,000 | +1087.5% | 95,000 | $47,503,800 |
| 10 | - | FIRST HORIZON CORP | SOLD | -69,650 | Exit | - | - |
| 11 | - | META PLATFORMS INC | NEW BUY | +12,800 | New | 12,800 | $6,449,792 |
| 12 | - | MICRON TECHNOLOGY INC | REDUCE | -655,000 | -94.2% | 40,100 | $5,273,150 |
| 13 | - | CRESCENT CAPITAL BDC INC | SOLD | -1,945,858 | Exit | - | - |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | UNITED STATES STEEL CORP | REDUCE | -9,000 | -50.3% | 8,900 | $362,675 |
| 2 | CPRI | CAPRI HOLDINGS LTD | ADD | +162,200 | +623.8% | 188,200 | $8,521,696 |
| 3 | - | IMAX CORP | SOLD | -125,000 | Exit | - | - |
| 4 | - | BROOKFIELD CORP | SOLD | -50,000 | Exit | - | - |
| 5 | - | LIBERTY BROADBAND CORP | ADD | +8,400 | +131.7% | 14,780 | $845,416 |
| 6 | ATSAF | ATS CORP | SOLD | -40,000 | Exit | - | - |
| 7 | - | DELEK US HOLDINGS INC | SOLD | -32,000 | Exit | - | - |
| 8 | - | SPIRIT AEROSYSTEMS HLDGS INC | NEW BUY | +152,000 | New | 152,000 | $5,481,120 |
| 9 | - | JACOBS SOLUTIONS INC | SOLD | -11,000 | Exit | - | - |
| 10 | - | DARLING INGREDIENTS INC | SOLD | -16,200 | Exit | - | - |
| 11 | - | OSISKO GOLD ROYALTIES LTD | SOLD | -160,000 | Exit | - | - |
| 12 | - | DINE BRANDS GLOBAL INC | SOLD | -20,000 | Exit | - | - |
| 13 | - | TFI INTL INC | REDUCE | -2,000 | -13.1% | 13,300 | $2,118,510 |
| 14 | - | SPDR SER TR | SOLD | -10,000 | Exit | - | - |
| 15 | - | INDEPENDENCE CONTRACT DRILLING | SOLD | -390,294 | Exit | - | - |
| 16 | ORLA | ORLA MINING LTD | ADD | +17,958,038 | +47.6% | 55,655,229 | $209,655,182 |
| 17 | VOO | VANGUARD INDEX FDS | REDUCE | -32,000 | -80.0% | 8,000 | $3,846,160 |
| 18 | - | U S SILICA HOLDINGS INC | SOLD | -130,000 | Exit | - | - |
| 19 | - | DENNY'S CORP | SOLD | -125,000 | Exit | - | - |
| 20 | - | EPAM SYSTEMS INC | SOLD | -6,950 | Exit | - | - |
| 21 | UAC | UNDER ARMOUR INC | SOLD | -229,000 | Exit | - | - |
| 22 | - | FIRST HORIZON CORP | REDUCE | -69,650 | -50.0% | 69,650 | $1,072,610 |
| 23 | - | MIDDLEBY CORP | SOLD | -14,500 | Exit | - | - |
| 24 | - | MICRON TECHNOLOGY INC | REDUCE | -3,216,549 | -82.2% | 695,100 | $81,931,437 |
| 25 | - | META PLATFORMS INC | SOLD | -21,600 | Exit | - | - |
| 26 | - | CRESCENT CAPITAL BDC INC | REDUCE | -146,840 | -7.0% | 1,945,858 | $33,566,051 |
Loading deployment data...