Insights from the Latest 13F Filing for Q3 2024
Prem Watsa (Trades, Portfolio), renowned for his conservative investment philosophy, recently disclosed his third-quarter portfolio for 2024. Born in India and a follower of Warren Buffett (Trades, Portfolio)'s principles, Watsa has built a reputation through his company, Fairfax Financial. This firm is known for its strategic focus on high returns on invested capital and long-term value creation, primarily through insurance and reinsurance businesses.
New Additions to the Portfolio
Prem Watsa (Trades, Portfolio) expanded his portfolio by adding two new stocks in the third quarter of 2024:
- The Kraft Heinz Co (KHC, Financial) was the primary new addition with 750,000 shares, making up 2.39% of the portfolio and valued at $26,317,500.
- ATS Corp (ATS, Financial) was also added with 56,700 shares, representing about 0.15% of the portfolio, totaling $1,626,780.
Significant Increases in Existing Positions
Watsa also increased his stakes in four companies:
- Under Armour Inc (UAA, Financial) saw an addition of 2,088,100 shares, bringing the total to 6,311,800 shares. This increase of 49.44% in shares held represents a 1.69% impact on the current portfolio, valued at $56,238,140.
- Orla Mining Ltd (ORLA, Financial) had an increase of 1,162,000 shares, resulting in a total of 56,817,229 shares. This adjustment represents a 2.09% increase in share count, with a total value of $225,847,380.
Complete Exits from Positions
In a notable shift, Prem Watsa (Trades, Portfolio) exited nine positions during this quarter:
- Vanguard S&P 500 ETF (VOO, Financial): All 95,000 shares were sold, impacting the portfolio by -4.02%.
- Franklin Resources Inc (BEN, Financial): The complete liquidation of 1,000,000 shares resulted in a -1.89% portfolio impact.
Reductions in Holdings
Watsa reduced his position in one stock:
- Autohome Inc (ATHM, Financial) was reduced by 39,000 shares, marking a -41.94% decrease in shares held and a -0.09% impact on the portfolio. The stock traded at an average price of $26.07 during the quarter and has returned 18.25% over the past three months and -2.64% year-to-date.
Portfolio Overview and Sector Allocation
As of the third quarter of 2024, Prem Watsa (Trades, Portfolio)'s portfolio included 31 stocks. The top holdings were 28.21% in Occidental Petroleum Corp (OXY, Financial), 20.54% in Orla Mining Ltd (ORLA, Financial), 13.39% in Kennedy-Wilson Holdings Inc (KW, Financial), 11.13% in BlackBerry Ltd (BB, Financial), and 5.11% in Under Armour Inc (UAA, Financial).
The investments are predominantly concentrated across 10 industries, covering Energy, Basic Materials, Technology, Real Estate, Consumer Cyclical, Communication Services, Healthcare, Consumer Defensive, Financial Services, and Industrials.
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.
