This is the latest portfolio update for
Prem Watsa
, the CEO of Fairfax Financial. Mr. Watsa is a fan of Ben Graham
and he loves to buy companies that are undervalued. He usually
buys into a position, and adds to it if the price declines. This
average down technique is the secret of his
success
, according to his shareholder letter. To understand more how he
invests, read
GuruFocus Interview with Fairfax CEO Prem
Watsa.
Averaging down is exactly what he did with Research-In-Motion (
RIMM
). He continues to add to this position as the stock price lost
more than 90% over the past 5 years. He did also bought into new
positions in Integramed America, Jakks, New York Community
Bancorp, Provident New York Bancorp etc. during the 3-months
ended 06/30/2012, according to the most recent filings of his
investment company, Fairfax Financial Holdings. His largest
positions are in Johnson & Johnson (
JNJ
) and Level 3 (
LVLT
).
As of 06/30/2012, Fairfax Financial Holdings owns 46 stocks with
a total value of $1.9 billion. These are the details of the buys
and sells.
For the details of
Prem Watsa
's stock buys and sells, go to
http://www.gurufocus.com/StockBuy.php?GuruName=Prem+Watsa
This is the sector weightings of his portfolio:
|
Financials
|
25.3% |
|
Health Care
|
21.5% |
|
Telecom
|
19.3% |
|
Technology
|
16.3% |
|
Industrials
|
7.1% |
|
Consumer Services
|
2.3% |
|
Oil & Gas
|
1.8% |
|
Not Assigned
|
0.7% |
|
Consumer Goods
|
0.4% |
These are the top 5 holdings of Prem Watsa
- Johnson & Johnson (
JNJ
) - 5,947,300 shares, 21.1% of the total portfolio.
- Level 3 Communications, Inc. (
LVLT
) - 12,931,094 shares, 15.0% of the total portfolio.
- Resolute Forest Products Inc (
RFP
) - 18,460,790 shares, 11.2% of the total portfolio. New
Position
- Research In Motion Limited (
USA
) (
RIMM
) - 26,848,500 shares, 10.4% of the total portfolio.
- U.S. Bancorp (
USB
) - 4,448,310 shares, 7.5% of the total portfolio.
New Purchase: Integramed America, Incorporation. (
INMD
)
Prem Watsa initiated holdings in Integramed America,
Incorporation.. His purchase prices were between $10.55 and
$13.84, with an estimated average price of $12.69. The impact to
his portfolio due to this purchase was 0.02%. His holdings were
33,000 shares as of 06/30/2012.
New Purchase: Jakks Pacific, Inc. (
JAKK
)
Prem Watsa initiated holdings in Jakks Pacific, Inc.. His
purchase prices were between $16.12 and $19.13, with an estimated
average price of $18.18. The impact to his portfolio due to this
purchase was 0.01%. His holdings were 10,301 shares as of
06/30/2012.
New Purchase: Provident New York Bancorp (
PBNY
)
Prem Watsa initiated holdings in Provident New York Bancorp. His
purchase prices were between $7.26 and $8.75, with an estimated
average price of $7.89. The impact to his portfolio due to this
purchase was 0.01%. His holdings were 25,000 shares as of
06/30/2012.
New Purchase: Taiwan Fund Inc. (the) (
TWN
)
Prem Watsa initiated holdings in Taiwan Fund Inc. (the). His
purchase prices were between $14.28 and $16.7, with an estimated
average price of $15.57. The impact to his portfolio due to this
purchase was 0.01%. His holdings were 11,438 shares as of
06/30/2012.
Sold Out: Motorola Mobility Holdings Inc (MMI)
Prem Watsa sold out his holdings in Motorola Mobility Holdings
Inc. His sale prices were between $38.31 and $39.99, with an
estimated average price of $38.99.
Added: New York Community Bancorp, Inc. (
NYB
)
Prem Watsa added to his holdings in New York Community Bancorp,
Inc. by 33.33%. His purchase prices were between $11.56 and
$13.83, with an estimated average price of $12.79. The impact to
his portfolio due to this purchase was 0.01%. His holdings were
40,000 shares as of 06/30/2012.
Added: Research In Motion Limited (usa) (
RIMM
)
Prem Watsa added to his holdings in Research In Motion Limited
(usa) by 93.14%. The impact to his portfolio due to this purchase
was 8.05%. His holdings were 51,854,700 shares as of 06/30/2012.
Reduced: Newmarket Corporation (
NEU
)
Prem Watsa reduced to his holdings in Newmarket Corporation by
50%. His sale prices were between $183.05 and $228.58, with an
estimated average price of $205.03. The impact to his portfolio
due to this sale was -0.01%. Prem Watsa still held 1,000 shares
as of 06/30/2012.
Here is the complete portfolio of Prem Watsa. Also check out the
Undervalued Stocks, Top Growth Companies, and High Yield stocks
of Prem Watsa.About GuruFocus: GuruFocus.com tracks the stocks
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.