Prem Watsa – Fairfax Financial Holdings Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Fairfax Financial Holdings portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys – Vanguard S&P 500 ETF (VOO), PENN Entertainment, Inc. (PENN)

Increases – The Kraft Heinz Company (KHC), Helmerich & Payne, Inc. (HP), Occidental Petroleum Corporatio (OXY), Lifeway Foods, Inc. (LWAY), Molson Coors Beverage Company (TAP)

Reductions – Taiwan Semiconductor Manufactur (TSM), BlackBerry Limited (BB)

Complete Exits – MGM Resorts International (MGM), Micron Technology, Inc. (MU), Gentex Corporation (GNTX)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Fairfax Financial Holdings Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q1 2024Mar 31, 2024	MU Micron Technology, Inc.	Micron Technology, Inc.	Sell	-3,216,549-82.2%	$81.93M	695,100
Q4 2023Dec 31, 2023	ORLA Orla Mining Ltd.	Orla Mining Ltd.	Buy	+6,588,541+21.2%	$121.79M	37,697,191
Q4 2023Dec 31, 2023	FNV Franco-Nevada Corporation	Franco-Nevada Corporation	Buy - Position Entry	+13,800	$1.53M	13,800
Q4 2023Dec 31, 2023	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Buy	+4,100+27.3%	$1.52M	19,100
Q4 2023Dec 31, 2023	TFII TFI International Inc.	TFI International Inc.	Sell	-1,500-8.9%	$2.08M	15,300
Q4 2023Dec 31, 2023	KKR KKR & Co. Inc.	KKR & Co. Inc.	Sell	-12,500-34.7%	$1.95M	23,500
Q4 2023Dec 31, 2023	TSAT Telesat Corporation	Telesat Corporation	Sell - Position Exit	-54,000-100.0%	$0.00	-
Q4 2023Dec 31, 2023	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-60,000-17.9%	$38.36M	274,620
Q4 2023Dec 31, 2023	GE GE Aerospace	GE Aerospace	Sell	-67,712-72.6%	$3.27M	25,600
Q4 2023Dec 31, 2023	CNSL Consolidated Communications Hol	Consolidated Communications Hol	Sell - Position Exit	-78,850-100.0%	$0.00	-
Q4 2023Dec 31, 2023	INTC Intel Corporation	Intel Corporation	Sell	-562,500-74.8%	$9.55M	190,000
Q3 2023Sep 30, 2023	ORLA Orla Mining Ltd.	Orla Mining Ltd.	Buy	+11,192,100+56.2%	$110.21M	31,108,650
Q3 2023Sep 30, 2023	CPRI Capri Holdings	Capri Holdings	Buy - Position Entry	+26,000	$1.37M	26,000
Q3 2023Sep 30, 2023	MU Micron Technology, Inc.	Micron Technology, Inc.	Buy	+25,000+0.6%	$266.11M	3,911,649
Q3 2023Sep 30, 2023	X United States Steel Corporation	United States Steel Corporation	Buy - Position Entry	+17,900	$581.21K	17,900
Q3 2023Sep 30, 2023	QSR Restaurant Brands International	Restaurant Brands International	Sell	-1,500-3.4%	$2.80M	42,000
Q3 2023Sep 30, 2023	KKR KKR & Co. Inc.	KKR & Co. Inc.	Sell	-4,000-10.0%	$2.22M	36,000
Q3 2023Sep 30, 2023	GE GE Aerospace	GE Aerospace	Sell	-5,550-5.6%	$10.32M	93,312
Q3 2023Sep 30, 2023	TFII TFI International Inc.	TFI International Inc.	Sell	-6,800-28.8%	$2.16M	16,800
Q3 2023Sep 30, 2023	TSAT Telesat Corporation	Telesat Corporation	Sell	-22,000-28.9%	$759.67K	54,000
Q3 2023Sep 30, 2023	VOO Vanguard S&P 500 ETF	Vanguard S&P 500 ETF	Sell	-44,000-52.4%	$15.70M	40,000
Q2 2023Jun 30, 2023	ORLA Orla Mining Ltd.	Orla Mining Ltd.	Buy	+4,533,200+29.5%	$82.93M	19,916,550
Q2 2023Jun 30, 2023	OXY Occidental Petroleum Corporatio	Occidental Petroleum Corporatio	Buy	+2,989,991+98.7%	$353.94M	6,020,418
Q2 2023Jun 30, 2023	GTX Garrett Motion Inc.	Garrett Motion Inc.	Buy	+175,860+160.0%	$2.16M	285,760
Q2 2023Jun 30, 2023	VOO Vanguard S&P 500 ETF	Vanguard S&P 500 ETF	Buy	+82,600+5900.0%	$34.20M	84,000
Q2 2023Jun 30, 2023	CNSL Consolidated Communications Hol	Consolidated Communications Hol	Buy - Position Entry	+78,850	$302.00K	78,850
Q2 2023Jun 30, 2023	GNTX Gentex Corporation	Gentex Corporation	Buy	+75,200+767.3%	$2.49M	85,000
Q2 2023Jun 30, 2023	FHN First Horizon Corporation	First Horizon Corporation	Buy	+49,000+54.3%	$1.57M	139,300
Q2 2023Jun 30, 2023	MU Micron Technology, Inc.	Micron Technology, Inc.	Buy	+46,800+1.2%	$245.17M	3,886,649
Q2 2023Jun 30, 2023	ATS ATS Corporation	ATS Corporation	Buy - Position Entry	+40,000	$1.84M	40,000

Page 4 of 19 • 555 total trades

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