Fairfax Financial Holdings 13F, Q4 2025
Prem Watsa · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 915191
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 29 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| ORLA MINING LTD | ORLA | $423.61M | 20.3% | -44% shares |
| OCCIDENTAL PETROLEUM CORP | OXY | $248.73M | 11.9% | unchanged |
| CVS HEALTH CORP | CVS | $215.20M | 10.3% | unchanged |
| UNDER ARMOUR INC | UAA | $208.54M | 10.0% | +565% shares |
| CLEVELAND-CLIFFS INC | CLF | $197.71M | 9.5% | unchanged |
| BLACKBERRY LTD | BB | $132.23M | 6.3% | unchanged |
| KENNEDY-WILSON HOLDINGS INC | $128.82M | 6.2% | unchanged | |
| KRAFT HEINZ CO | KHC | $124.08M | 6.0% | unchanged |
| ATS CORP | ATS | $68.28M | 3.3% | unchanged |
| MOLSON COORS BEVERAGE CO | TAP | $62.49M | 3.0% | +4% shares |
| UNDER ARMOUR INC | UA | $45.40M | 2.2% | new |
| VANGUARD INDEX FUNDS | VOO | $36.52M | 1.8% | unchanged |
| HELMERICH & PAYNE INC | HP | $33.66M | 1.6% | unchanged |
| GENERAL MOTORS CO | GM | $30.58M | 1.5% | unchanged |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $28.47M | 1.4% | unchanged |
| BANK OF NOVA SCOTIA | BNS | $26.49M | 1.3% | unchanged |
| PFIZER INC | PFE | $22.18M | 1.1% | unchanged |
| MERCK & CO INC | MRK | $18.20M | 0.9% | unchanged |
| JOHNSON & JOHNSON | JNJ | $15.19M | 0.7% | unchanged |
| GARRETT MOTION INC | GTX | $4.54M | 0.2% | -14% shares |
| COLLIERS INTL GROUP INC | CIGI | $3.19M | 0.1% | unchanged |
| LULULEMON ATHLETICA INC | LULU | $2.60M | 0.1% | -50% shares |
| CANADIAN NATIONAL RAILWAY CO | CNI | $1.96M | 0.1% | new |
| CAPRI HOLDINGS LTD | $1.91M | 0.1% | unchanged | |
| PENN ENTERTAINMENT INC | PENN | $809.2K | 0.0% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Fairfax Financial Holdings opened 3 new positions, added to 2, trimmed 3, left 21 unchanged and exited 3. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001104659-26-015544, filed by FAIRFAX FINANCIAL HOLDINGS LTD/ CAN. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.