Insights from the 2024 Q2 13F Filing
Prem Watsa (Trades, Portfolio), the renowned investor and founder of Fairfax Financial, is well-known for his conservative value investment philosophy, heavily influenced by Warren Buffett (Trades, Portfolio)'s strategies. Born in India and a graduate of the Ivey Business School, Watsa has built a reputation for his disciplined approach to investing, particularly in the insurance and reinsurance sectors. His latest 13F filing for the second quarter of 2024 reveals some intriguing adjustments to his portfolio, including significant buys, sells, and position changes.
Summary of New Buys
Prem Watsa (Trades, Portfolio) expanded his portfolio by adding two new stocks during the quarter:
- Under Armour Inc (UAA, Financial) was the most significant new addition with 4,223,700 shares, representing 2.38% of the portfolio and valued at $28.17 million.
- Meta Platforms Inc (META, Financial) was also added with 12,800 shares, making up about 0.55% of the portfolio, valued at $6.45 million.
Key Position Increases
Watsa also made notable increases to several existing positions:
- Vanguard S&P 500 ETF (VOO, Financial) saw an addition of 87,000 shares, bringing the total to 95,000 shares. This adjustment marks a 1,087.5% increase in share count and impacts the portfolio by 3.68%, with a total value of $47.5 million.
- Taiwan Semiconductor Manufacturing Co Ltd (TSM, Financial) increased by 48,000 shares, resulting in a total of 141,700 shares. This represents a 51.23% increase in share count, valued at $24.63 million.
Summary of Sold Out Positions
The second quarter also saw Watsa exiting several positions completely:
- Crescent Capital BDC Inc (CCAP, Financial) was completely sold out of 1,945,858 shares, impacting the portfolio by -2.73%.
- GE Aerospace (GE, Financial) saw the liquidation of all 25,600 shares, causing a -0.29% impact on the portfolio.
Key Position Reductions
Significant reductions were made in the following stock:
- Micron Technology Inc (MU, Financial) was reduced by 655,000 shares, a -94.23% decrease, impacting the portfolio by -6.29%. The stock traded at an average price of $126.02 during the quarter and has seen a -20.71% return over the past three months and a 14.39% year-to-date return.
Portfolio Overview
As of the second quarter of 2024, Prem Watsa (Trades, Portfolio)'s portfolio included 38 stocks. The top holdings were 32.05% in Occidental Petroleum Corp (OXY, Financial), 18.02% in Orla Mining Ltd (ORLA, Financial), 10.94% in Kennedy-Wilson Holdings Inc (KW, Financial), 9.84% in BlackBerry Ltd (BB, Financial), and 4.23% in Alphabet Inc (GOOGL, Financial). The holdings are mainly concentrated across 10 industries, excluding only one of the 11 major sectors.
This detailed analysis of Prem Watsa (Trades, Portfolio)'s latest 13F filing provides valuable insights into his strategic moves and adjustments, reflecting his ongoing commitment to a disciplined, value-oriented investment approach.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
