In plain English: this page lists every stock Prem Watsa's fund told the SEC it owned at the end of the quarter, biggest first, and what changed since the quarter before — "New" means they bought it for the first time, "Sold" means they sold all of it. The list is at least 6 weeks old, and it is only part of their investments (no cash, bonds or bets against stocks).
Educational and informational only, not personalized investment advice. Based on public filings that may be delayed or contain errors; verify with the original filings. Disclaimer
Biggest moves · Q2 2026
+$427.00M EGO (new)+$258.75M Orla Mining Ltd+$213.30M KHC-$144.28M Kennedy-Wilson Holdings Inc (sold)
Reported value ⓘTotal of long stock positions in this 13F. Options are listed separately and not included.
$2.64B
Q2 2026
Quarter change
+35.8%
vs Q1 2026 ($1.94B)
Holdings
32
Top-10 weight 90.7%
Activity
6 new · 3 sold out
7 added to · 2 trimmed
Investing style at a glance · Q2 2026
- Very concentrated: 32 stocks, with 90.7% of the portfolio in the 10 largest.
- Biggest sector: Materials (43.1% of the portfolio).
- Turnover this quarter: moderate — 6 new positions and 3 sold out (7 added to, 2 trimmed).
- Largest position: Orla Mining Ltd at 21.5% of the portfolio.
Worked out from this 13F only (long stock positions). ⓘConcentration: The share of a portfolio in its 10 largest positions. High = a few big bets; low = spread out. Guide ⓘTurnover: How many positions were opened or closed this quarter compared with the number held. Guide
Portfolio value over time
Reported 13F value per quarter
Sector allocation
Q2 2026
- Materials43.1%
- Consumer Staples26.5%
- Consumer Discretionary20.1%
- Industrials3.1%
- Health Care2.5%
- Information Technology1.7%
- Energy1.5%
- Financials1.2%
- Communication Services0.2%
- Unclassified0.1%
- Real Estate0.1%
Top holdings over time
Share of the portfolio each quarter (current top 5)
Quarter-by-quarter activity
Positions bought (new or added) vs sold (trimmed or exited)
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Column filters
| Ticker | Company | Sector | Shares | Value ↓ | % of portfolio | Change | Δ shares | Δ shares % | Est. Δ value ⓘChange in shares × this quarter's price |
|---|---|---|---|---|---|---|---|---|---|
| — | Orla Mining Ltd | Materials | 58.40M | $568.46M | 21.5% | Added | +26.6M | +83.5% | +$258.75M |
| EGO | Eldorado Gold Corp | Materials | 13.75M | $427.00M | 16.2% | New | +13.7M | — | +$427.00M |
| KHC | Kraft Heinz Co | Consumer Staples | 14.31M | $337.63M | 12.8% | Added | +9.0M | +171.6% | +$213.30M |
| UAA | Under Armour, Inc (Class A) | Consumer Discretionary | 45.36M | $289.83M | 11.0% | Added | +2.4M | +5.5% | +$15.06M |
| CVS | CVS Health Corp | Consumer Staples | 2.71M | $280.50M | 10.6% | Held | 0 | 0.0% | $0 |
| CLF | Cleveland-Cliffs Inc | Materials | 14.90M | $139.90M | 5.3% | Held | 0 | 0.0% | $0 |
| UA | Under Armour, Inc (Class C) | Consumer Discretionary | 22.00M | $136.61M | 5.2% | Held | 0 | 0.0% | $0 |
| TAP | Molson Coors Beverage Co (Class B) | Consumer Staples | 1.99M | $77.67M | 2.9% | Added | +556.0K | +38.7% | +$21.65M |
| ATS | ATS Corp | Industrials | 2.49M | $70.49M | 2.7% | Held | 0 | 0.0% | $0 |
| WEN | Wendy's Co | Consumer Discretionary | 8.01M | $66.29M | 2.5% | Added | +4.7M | +144.9% | +$39.22M |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | Information Technology | 93.70K | $44.68M | 1.7% | Held | 0 | 0.0% | $0 |
| HP | Helmerich & Payne, Inc | Energy | 1.17M | $38.45M | 1.5% | Held | 0 | 0.0% | $0 |
| BNS | Bank of Nova Scotia | Financials | 359.10K | $31.17M | 1.2% | Held | 0 | 0.0% | $0 |
| GM | General Motors Co | Consumer Discretionary | 375.96K | $28.97M | 1.1% | Held | 0 | 0.0% | $0 |
| PFE | Pfizer Inc | Health Care | 1.04M | $25.12M | 1.0% | Added | +53.0K | +5.3% | +$1.28M |
| MRK | Merck & Co., Inc | Health Care | 172.90K | $22.20M | 0.8% | Held | 0 | 0.0% | $0 |
| JNJ | Johnson & Johnson | Health Care | 73.40K | $18.64M | 0.7% | Held | 0 | 0.0% | $0 |
| KSPI | Joint Stock Co Kaspi.kz | Industrials | 106.00K | $9.18M | 0.3% | New | +106.0K | — | +$9.18M |
| RCI | Rogers Communications Inc (Class B) | Communication Services | 150.20K | $4.87M | 0.2% | New | +150.2K | — | +$4.87M |
| GTX | Garrett Motion Inc | Consumer Discretionary | 102.78K | $3.72M | 0.1% | Reduced | -81.7K | -44.3% | -$2.96M |
| CNI | Canadian National Railway Co | Industrials | 24.80K | $2.95M | 0.1% | Held | 0 | 0.0% | $0 |
| CIGI | Colliers International Group Inc | Real Estate | 25.00K | $2.33M | 0.1% | Held | 0 | 0.0% | $0 |
| — | Warner Bros Discovery Inc | Unclassified | 81.90K | $2.18M | 0.1% | Added | +24.0K | +41.5% | +$638.64K |
| DPZ | Dominos Pizza Inc | Consumer Staples | 7.23K | $2.14M | 0.1% | New | +7.2K | — | +$2.14M |
| CPRI | Capri Holdings Ltd | Consumer Discretionary | 78.10K | $1.45M | 0.1% | Held | 0 | 0.0% | $0 |
| LULU | lululemon athletica inc. | Consumer Discretionary | 12.50K | $1.43M | 0.1% | Held | 0 | 0.0% | $0 |
| PENN | PENN Entertainment, Inc | Consumer Discretionary | 54.90K | $1.17M | 0.0% | Held | 0 | 0.0% | $0 |
| — | Electronic Arts Inc | Unclassified | 5.10K | $1.05M | 0.0% | New | +5.1K | — | +$1.05M |
| BRK.A | Berkshire Hathaway Inc (Class A) | Financials | 1 | $748.84K | 0.0% | Held | 0 | 0.0% | $0 |
| BRSL | Brightstar Lottery PLC | Consumer Discretionary | 68.73K | $737.50K | 0.0% | Held | 0 | 0.0% | $0 |
| CPAC | Cementos Pacasmayo Saa | Materials | 50.00K | $594.50K | 0.0% | New | +50.0K | — | +$594.50K |
| MX | Magnachip Semiconductor Corp | Information Technology | 62.50K | $296.25K | 0.0% | Reduced | -62.5K | -50.0% | -$296.25K |
Column filters
| Ticker | Company | Sector | Shares sold | Value last quarter ↓ |
|---|---|---|---|---|
| — | Kennedy-Wilson Holdings Inc | Unclassified | -13.3M | $144.28M |
| BB | Blackberry Ltd | Information Technology | -35.0M | $113.34M |
| PRTH | Priority Technology Holdings, Inc | Industrials | -70.5K | $332.76K |
13F filings on record (4)
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