Insurance capital

Prem Watsa

Q2 2026 13F: 32 holdings worth about $2.6B; that quarter 6 new, 7 added, 1 trimmed, 3 sold out.

Firm: Fairfax Financial Holdings Ltd/ Can
Filer: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN CIK 915191
Last filed: Aug 14, 2026 | Insurance capital | Counted in this quarter’s totals

13F lists only long positions in US-listed stocks (and some ETFs and convertibles); short positions, cash, bonds, shares listed outside the US and private companies are not shown, so this is not the giant’s whole portfolio.

Why This Giant Is Included

Rule numbers (Q2 2026): 32 holdings, top 10 = 91%, stocks $2.6B, options 0%; all four rules met
Source for the value approach: About Fairfax - Fairfax Financial (Fairfax Financial Holdings Limited): “Fairfax seeks to differentiate itself by combining disciplined underwriting and investing its assets on a value oriented total return basis” (checked 2026-10-11)

Full selection rules →

13F value

$2.6B

previous $1.9B (+35.8%)

Holdings

6 new / 3 sold out

Net deploymentest.

+43.0%

est. net buying ÷ last quarter’s portfolio

Top-10 concentration

91%

overlap with the composite 4%

Turnoverest.

11.4%

held 16 quarters on average

Trades in Q2 2026

Sorted by position shift: how many percentage points of the portfolio the trade moved.

How to Read This

Share changes are split-adjusted. Est. trade price = (start + end price) ÷ 2; 13F does not show the actual trade date or price.

Move	Company	Change in shares	Change %	Position shift (pts)	Start → end price	Est. trade price
New	EGOEldorado Gold Corp	+13.75M	—	+16.19	$34.33 → $31.08	$32.70
Added	ORLAOrla Mining Ltd	+26.58M	+84%	+9.85	$16.08 → $9.77	$12.93
Added	KHCKraft Heinz Co	+9.04M	+172%	+8.09	$22.49 → $23.62	$23.05
Sold out	KWKennedy-Wilson Holdings Inc	−13.32M	—	−5.47	$10.82 → —	—
Sold out	BBBlackBerry Ltd	−34.98M	—	−4.30	$3.24 → —	—
Added	WENWendy’s Co	+4.74M	+145%	+1.49	$6.95 → $8.29	$7.62
Added	TAPMolson Coors Beverage Co	+556.0K	+39%	+0.82	$43.06 → $38.96	$41.01
Added	UAAUnder Armour, Inc	+2.36M	+5%	+0.57	$5.90 → $6.39	$6.14
New	KSPIJoint Stock Co Kaspi.kz	+106.0K	—	+0.35	$74.07 → $86.64	$80.36
New	RCIRogers Communications Inc	+150.2K	—	+0.18	$38.45 → $32.46	$35.46
Trimmed	GTXGarrett Motion Inc	−81.7K	−44%	−0.11	$18.17 → $36.23	$27.20
New	DPZDomino’s Pizza Inc	+7.2K	—	+0.08	$358.79 → $295.98	$327.39
Added	PFEPfizer Inc	+53.0K	+5%	+0.05	$28.08 → $24.08	$26.08
New	EAElectronic Arts Inc	+5.1K	—	+0.04	$203.87 → $205.01	$204.44
Added	WBDWarner Bros. Discovery, Inc	+24.0K	+41%	+0.02	$27.46 → $26.66	$27.06
New	CPACCementos Pacasmayo Saa	+50.0K	—	+0.02	— → $11.89	—
Sold out	PRTHPriority Technology Holdings, Inc	−70.5K	—	−0.01	$4.72 → —	—

All Holdings (31 Companies)

Share classes of one company are combined; click a heading to re-sort.

How to Read This

Est. average cost: shares bought each quarter × (start + end price) ÷ 2, weighted; trims do not change the cost. Positions held before Q1 1999 (or the giant’s earliest electronic filing) start from that quarter’s price and are marked ‘start point’. vs cost = quarter-end price ÷ est. average cost − 1, excluding dividends.

Company	Sector	Weight (prev.)	Shares	Value	This quarter	First bought	Quarters held	Est. avg cost	Quarter-end price	vs cost	History
ORLAOrla Mining Ltd	Unclassified	21.5%25.8%	58.40M	$568.5M	Added +84%	Q3 2022	16	$7.86est.	$9.77	+24%	History
EGOEldorado Gold Corp	Materials	16.2%—	13.75M	$427.0M	New	Q2 2026	1	$32.70est.	$31.08	−5%	History
UAAUnder Armour, Inc	Consumer discretionary	16.2%19.6%	45.36M	$426.4M	Added +5%	Q2 2024	9	$5.30est.	$6.39	+21%	History
KHCKraft Heinz Co	Consumer staples	12.8%6.1%	14.31M	$337.6M	Added +172%	Q3 2024	8	$25.99est.	$23.62	−9%	History
CVSCVS Health Corp	Consumer staples	10.6%10.0%	2.71M	$280.5M	Held	Q4 2024	7	$53.88est.	$103.45	+92%	History
CLFCleveland-Cliffs Inc	Materials	5.3%6.5%	14.90M	$139.9M	Held	Q4 2024	7	$9.71est.	$9.39	−3%	History
TAPMolson Coors Beverage Co	Consumer staples	2.9%3.2%	1.99M	$77.7M	Added +39%	Q4 2024	7	$51.55est.	$38.96	−24%	History
ATSATS Corp	Industrials	2.7%3.6%	2.49M	$70.5M	Held	Q3 2024	8	$29.50est.	$28.35	−4%	History
WENWendy’s Co	Consumer discretionary	2.5%1.2%	8.01M	$66.3M	Added +145%	Q1 2026	2	$7.63est.	$8.29	+9%	History
TSMTaiwan Semiconductor Manufacturing	Information technology	1.7%1.6%	93.7K	$44.7M	Held	Q3 2017	36	$83.03est.	$477.57	+475%	History
HPHelmerich & Payne, Inc	Energy	1.5%2.2%	1.17M	$38.5M	Held	Q1 2015	46	$27.86est.	$32.75	+18%	History
BNSBank of Nova Scotia	Financials	1.2%1.3%	359.1K	$31.2M	Held	Q4 2018	31	$51.03est.	$86.84	+70%	History
GMGeneral Motors Co	Consumer discretionary	1.1%1.4%	376.0K	$29.0M	Held	Q2 2018	33	$36.82est.	$77.08	+109%	History
PFEPfizer Inc	Health care	1.0%1.4%	1.04M	$25.1M	Added +5%	Q4 2020	23	$31.48est.	$24.08	−24%	History
MRKMerck & Co., Inc	Health care	0.8%1.1%	172.9K	$22.2M	Held	Q4 2020	23	$81.53est.	$128.50	+58%	History
JNJJohnson & Johnson	Health care	0.7%0.9%	73.4K	$18.6M	Held	Q2 2007	77	$87.57est.start point	$253.97	+190%	History
KSPIJoint Stock Co Kaspi.kz	Industrials	0.3%—	106.0K	$9.2M	New	Q2 2026	1	$80.36est.	$86.64	+8%	History
RCIRogers Communications Inc	Communication & media	0.2%—	150.2K	$4.9M	New	Q2 2026	1	$35.46est.	$32.46	−8%	History
GTXGarrett Motion Inc	Consumer discretionary	0.1%0.2%	102.8K	$3.7M	Trimmed −44%	Q2 2021	21	$7.81est.	$36.23	+364%	History
CNICanadian National Railway	Industrials	0.1%0.1%	24.8K	$3.0M	Held	Q4 2025	3	$97.46est.	$119.21	+22%	History
CIGIColliers International Group Inc	Real estate	0.1%0.1%	25.0K	$2.3M	Held	Q4 2019	27	$82.53est.	$93.79	+14%	History
WBDWarner Bros. Discovery, Inc	Communication & media	0.1%0.1%	81.9K	$2.2M	Added +41%	Q1 2026	2	$27.82est.	$26.66	−4%	History
DPZDomino’s Pizza Inc	Consumer staples	0.1%—	7.2K	$2.1M	New	Q2 2026	1	$327.39est.	$295.98	−10%	History
CPRICapri Holdings Ltd	Consumer discretionary	0.1%0.1%	78.1K	$1.5M	Held	Q3 2023	12	$46.73est.	$18.57	−60%	History
LULUlululemon athletica inc	Consumer discretionary	0.1%0.1%	12.5K	$1.4M	Held	Q3 2025	4	$207.76est.	$114.18	−45%	History
PENNPenn Entertainment Inc	Consumer discretionary	0.0%0.0%	54.9K	$1.2M	Held	Q2 2025	5	$17.09est.	$21.36	+25%	History
EAElectronic Arts Inc	Unclassified	0.0%—	5.1K	$1.0M	New	Q2 2026	1	$204.44est.	$205.01	+0%	History
BRK.BBerkshire Hathaway Inc	Financials	0.0%0.0%	1	$749K	Held	Q2 2007	77	$130,168est.start point	$748,850	+475%	History
BRSLBrightstar Lottery PLC	Consumer discretionary	0.0%0.0%	68.7K	$738K	Held	Q3 2025	4	$16.53est.	$10.72	−35%	History
CPACCementos Pacasmayo Saa	Materials	0.0%—	50.0K	$594K	New	Q2 2026	1	$11.89est.	$11.89	0%	History
MXMagnachip Semiconductor Corp	Information technology	0.0%0.0%	62.5K	$296K	Held	Q2 2021	21	$40.45est.	$4.73	−88%	History

III

Portfolio Map: Size Is Weight, Colour Is Gain or Loss against Cost

How to Read This

Each block is a company (up to 60); area = portfolio weight. The darker the colour, the further the quarter-end price is above (or below) the estimated cost: light 5–25%, medium 25–100%, darkest over 100%; grey is within 5%.

above costbelow costwithin 5%

Over Time

From Q2 2007, 77 quarters (this giant’s electronic 13F filings).

13F Value

Holdings

Top-10 Concentration

Turnover (Est.)

Sector Mix

Information technologyFinancialsCommunication & mediaConsumer discretionaryIndustrialsHealth careEnergyOther (incl. unclassified)

Quarter by Quarter, with the Original Filings

* = not counted in that quarter’s totals. Links open the original SEC filing; 13F-HR/A is an amendment.

Show 77 Quarters

Quarter	Holdings	New	Sold out	13F value	Turnover	Net deployment	SEC
Q2 2026	32	6	3	$2.6B	11.4%	+43.0%	13F-HR
Q1 2026	29	2	2	$1.9B	5.5%	−11.9%	13F-HR
Q4 2025	29	3	3	$2.1B	11.0%	−4.4%	13F-HR
Q3 2025	29	3	2	$2.1B	1.5%	−0.4%	13F-HR
Q2 2025	28	2	3	$1.9B	2.4%	+2.3%	13F-HR
Q1 2025	29	1	3	$1.8B	0.2%	+5.1%	13F-HR
Q4 2024	31	4	4	$1.6B	4.5%	+35.6%	13F-HR
Q3 2024	31	2	9	$1.1B	4.6%	−5.0%	13F-HR
Q2 2024	38	2	6	$1.2B	7.1%	−3.4%	13F-HR
Q1 2024	42	1	16	$1.2B	5.7%	−20.5%	13F-HR
Q4 2023	57	1	4	$1.5B	1.6%	−1.4%	13F-HR
Q3 2023	60	2	2	$1.5B	1.9%	+1.1%	13F-HR
Q2 2023	60	5	11	$1.5B	11.4%	+6.4%	13F-HR
Q1 2023	66	2	10	$1.4B	7.6%	−64.9%	13F-HR
Q4 2022	74	9	7	$3.7B	0.3%	−1.8%	13F-HR
Q3 2022	72	3	1	$3.5B	0.2%	+6.9%	13F-HR
Q2 2022	70	7	3	$2.8B	0.8%	+17.1%	13F-HR
Q1 2022	66	9	6	$3.0B	0.8%	+0.0%	13F-HR
Q4 2021	63	9	7	$3.1B	0.8%	+0.2%	13F-HR
Q3 2021	61	10	8	$3.1B	1.7%	−0.2%	13F-HR 13F-HR/A
Q2 2021	59	11	9	$3.1B	0.5%	−1.8%	13F-HR
Q1 2021	57	9	11	$2.9B	1.6%	+0.8%	13F-HR
Q4 2020	59	10	11	$2.2B	2.0%	−0.3%	13F-HR
Q3 2020	60	5	4	$1.8B	0.5%	−0.4%	13F-HR
Q2 2020	59	8	5	$1.6B	0.9%	+0.6%	13F-HR
Q1 2020	56	20	5	$1.4B	53.3%	−9.3%	13F-HR
Q4 2019	41	13	4	$2.0B	0.5%	+1.6%	13F-HR
Q3 2019	32	2	4	$1.7B	0.7%	+0.5%	13F-HR
Q2 2019	34	2	3	$1.8B	0.2%	+0.6%	13F-HR
Q1 2019	35	5	3	$1.8B	1.7%	+24.7%	13F-HR
Q4 2018	33	7	7	$1.3B	0.7%	+0.9%	13F-HR
Q3 2018	33	2	2	$1.7B	2.7%	+26.7%	13F-HR
Q2 2018	33	6	11	$1.2B	2.5%	−9.3%	13F-HR
Q1 2018	38	5	11	$1.3B	1.7%	+1.0%	13F-HR
Q4 2017	44	6	10	$1.4B	2.4%	+0.2%	13F-HR
Q3 2017	48	19	0	$1.2B	6.1%	−0.9%	13F-HR
Q2 2017	29	1	3	$1.1B	0.8%	−10.0%	13F-HR
Q1 2017	31	5	3	$1.2B	5.4%	+0.3%	13F-HR
Q4 2016	29	4	4	$1.2B	1.6%	+8.4%	13F-HR
Q3 2016	29	2	0	$1.1B	0.0%	+0.1%	13F-HR
Q2 2016	27	4	6	$1.0B	0.9%	−1.5%	13F-HR
Q1 2016	29	6	10	$1.1B	1.4%	+0.1%	13F-HR
Q4 2015	33	7	14	$1.2B	0.9%	+2.3%	13F-HR
Q3 2015	40	3	12	$1.1B	0.6%	+0.6%	13F-HR
Q2 2015	49	8	2	$1.4B	0.1%	+15.6%	13F-HR
Q1 2015	43	4	4	$1.4B	0.2%	−0.6%	13F-HR
Q4 2014	43	2	1	$1.5B	0.1%	+7.4%	13F-HR
Q3 2014	42	4	3	$1.5B	0.2%	+13.7%	13F-HR
Q2 2014	41	4	4	$1.4B	0.1%	+0.0%	13F-HR
Q1 2014	41	3	3	$1.4B	2.9%	−0.3%	13F-HR
Q4 2013	41	7	6	$1.3B	0.2%	−17.6%	13F-HR
Q3 2013	40	6	5	$1.5B	0.3%	−35.1%	13F-HR
Q2 2013	39	3	4	$2.4B	2.1%	+0.5%	13F-HR
Q1 2013	40	1	4	$2.6B	0.2%	−3.6%	13F-HR
Q4 2012	43	4	4	$2.4B	0.6%	+17.5%	13F-HR
Q3 2012	43	3	4	$1.9B	10.6%	−1.7%	13F-HR
Q2 2012	44	6	3	$1.8B	11.0%	−1.8%	13F-HR
Q1 2012	41	2	1	$2.1B	2.8%	+9.5%	13F-HR
Q4 2011	40	2	4	$1.7B	15.6%	−10.1%	13F-HR
Q3 2011	42	3	1	$2.0B	8.4%	−4.7%	13F-HR
Q2 2011	40	4	3	$2.7B	9.7%	+0.8%	13F-HR
Q1 2011	39	0	0	$2.8B	3.6%	−1.2%	13F-HR
Q4 2010	39	2	1	$2.5B	7.4%	+13.4%	13F-HR
Q3 2010	38	3	13	$2.0B	4.7%	−19.8%	13F-HR
Q2 2010	48	16	6	$2.3B	1.1%	−12.5%	13F-HR
Q1 2010	38	4	3	$3.2B	0.6%	−23.6%	13F-HR
Q4 2009	37	2	6	$3.7B	3.1%	−44.5%	13F-HR
Q3 2009	41	0	3	$6.6B	2.2%	−3.3%	13F-HR
Q2 2009	44	3	3	$5.2B	4.6%	−0.3%	13F-HR 13F-HR/A
Q1 2009	44	5	5	$4.3B	8.2%	+8.6%	13F-HR
Q4 2008 *	44	11	1	$5.2B	0.2%	+54.6%	13F-HR
Q3 2008 *	34	5	0	$3.8B	0.0%	+3.8%	13F-HR
Q2 2008 *	29	1	1	$3.5B	0.0%	+4.8%	13F-HR
Q1 2008 *	29	3	0	$3.2B	0.0%	+12.0%	13F-HR
Q4 2007 *	26	4	4	$3.0B	4.2%	+3.2%	13F-HR
Q3 2007 *	26	4	3	$3.0B	3.0%	+1.5%	13F-HR
Q2 2007 *	25	0	0	$3.3B	—	—	13F-HR

Large Positions Sold Out

Positions that once made up 2% or more of the portfolio and were later sold out (latest 40): holding period and what became of the company, without profit or loss.

How to Read This

Sold out means the holding no longer appears on the 13F: it may have been sold, or the company was acquired or delisted. Company status is checked only for companies the giants together once held $100M or more of, from the company’s own SEC filings (for example 8-K item 1.03 = bankruptcy filing); a dash means not checked.

Company	Held	Peak weight	Company since
BBBlackBerry Ltd	Q3 2010 – Q2 2026	43%	—
KWKennedy-Wilson Holdings Inc	Q2 2011 – Q2 2026	23%	—
OXYOccidental Petroleum Corp	Q2 2022 – Q1 2026	32%	—
VOOVanguard S&P 500 ETF	Q2 2025 – Q1 2026	2%	—
MUMicron Technology Inc	Q4 2018 – Q2 2025	23%	—
GOOGLAlphabet Inc	Q1 2020 – Q4 2024	4%	—
VOOVanguard S&P 500 ETF	Q2 2021 – Q3 2024	4%	—
BENFranklin Templeton Inc	Q1 2020 – Q3 2024	2%	Still filing with the SEC
BABAAlibaba Group Holding Ltd	Q3 2021 – Q3 2024	2%	—
CCAPCrescent Capital BDC Inc	Q1 2020 – Q2 2024	3%	—
BACBank of America Corp	Q2 2022 – Q2 2023	7%	—
CVXChevron Corp	Q1 2020 – Q2 2023	4%	—
ATCOAtlas Corp	Q1 2020 – Q1 2023	53%	Acquired or delisted Nov 10, 2025
RFPResolute Forest Products	Q2 2012 – Q1 2023	41%	Acquired or delisted Mar 13, 2023
MCFTMasterCraft Boat Holdings, Inc	Q3 2019 – Q4 2022	2%	—
—Lumen Technologies, Inc	Q4 2017 – Q1 2021	3%	Still filing with the SEC
SSWSeaspan Corp	Q2 2018 – Q1 2020	54%	Acquired or delisted Mar 10, 2020
IBMInternational Business Machines Corp	Q2 2013 – Q3 2018	20%	—
WFCWells Fargo & Co	Q4 2008 – Q2 2018	15%	—
USBUS Bancorp	Q3 2008 – Q2 2018	11%	—
USGUsg Corp	Q2 2007 – Q2 2018	7%	Acquired or delisted May 6, 2019
IPIIntrepid Potash, Inc	Q1 2017 – Q2 2018	6%	—
PFEPfizer Inc	Q2 2007 – Q1 2018	13%	—
—Exco Resources Inc	Q4 2010 – Q2 2017	7%	Bankruptcy filing while held or within 2 years of the sale Jan 17, 2018
NXHNeighborhood Intelligence, Inc	Q2 2007 – Q1 2017	8%	Still filing with the SEC
—Baldwin & Lyons, Inc CL. B Com	Q2 2007 – Q1 2017	2%	—
—Sandridge Energy Inc	Q3 2008 – Q1 2016	16%	Bankruptcy filing; the company kept filing May 16, 2016
—Dell Inc	Q2 2007 – Q4 2013	16%	Acquired or delisted Nov 8, 2013
LVLTLevel 3 Communications Inc	Q4 2011 – Q3 2013	16%	Still filing with the SEC
—Frontier Communications Parent, Inc	Q2 2007 – Q1 2013	8%	Bankruptcy filing more than 2 years after the sale Apr 15, 2020
—Fairfax Financial Holdings Ltd/ Can	Q4 2010 – Q2 2012	16%	Still filing with the SEC
—Level 3 Parent, LLC	Q4 2007 – Q4 2011	15%	Still filing with the SEC
—Mondelez International, Inc	Q4 2008 – Q3 2011	12%	Still filing with the SEC
ICOInternational Coal Group Inc	Q2 2007 – Q2 2011	12%	Acquired or delisted Jun 20, 2011
—General Electric Co	Q4 2008 – Q2 2010	11%	Still filing with the SEC
MGAMagna International Inc	Q4 2008 – Q2 2010	7%	—
ZNTZenith National Insurance CP	Q3 2008 – Q2 2010	4%	Acquired or delisted Jun 2, 2010
BNIBurlington Northern Santa Fe	Q4 2008 – Q1 2010	3%	Still filing with the SEC
ORHOdyssey Group Holdings Inc	Q2 2007 – Q4 2009	56%	Acquired or delisted Nov 2, 2010
INTCIntel Corp	Q4 2008 – Q4 2009	5%	—