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
Q2 2024Jun 30, 2024	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Sell - Position Exit	-19,100-100.0%	$0.00	-
Q2 2024Jun 30, 2024	GE GE Aerospace	GE Aerospace	Sell - Position Exit	-25,600-100.0%	$0.00	-
Q2 2024Jun 30, 2024	FHN First Horizon Corporation	First Horizon Corporation	Sell - Position Exit	-69,650-100.0%	$0.00	-
Q2 2024Jun 30, 2024	G25457105 Credo Technology	Credo Technology	Sell - Position Exit	-87,566-100.0%	$0.00	-
Q2 2024Jun 30, 2024	MU Micron Technology, Inc.	Micron Technology, Inc.	Sell	-655,000-94.2%	$5.27M	40,100
Q2 2024Jun 30, 2024	CCAP Crescent Capital BDC, Inc.	Crescent Capital BDC, Inc.	Sell - Position Exit	-1,945,858-100.0%	$0.00	-
Q1 2024Mar 31, 2024	ORLA Orla Mining Ltd.	Orla Mining Ltd.	Buy	+17,958,038+47.6%	$209.66M	55,655,229
Q1 2024Mar 31, 2024	CPRI Capri Holdings	Capri Holdings	Buy	+162,200+623.8%	$8.52M	188,200
Q1 2024Mar 31, 2024	SPR Spirit Aerosystems Holdings, In	Spirit Aerosystems Holdings, In	Buy - Position Entry	+152,000	$5.48M	152,000
Q1 2024Mar 31, 2024	LBRDK Liberty Broadband Corporation	Liberty Broadband Corporation	Buy	+8,400+131.7%	$845.42K	14,780
Q1 2024Mar 31, 2024	TFII TFI International Inc.	TFI International Inc.	Sell	-2,000-13.1%	$2.12M	13,300
Q1 2024Mar 31, 2024	EPAM EPAM Systems, Inc.	EPAM Systems, Inc.	Sell - Position Exit	-6,950-100.0%	$0.00	-
Q1 2024Mar 31, 2024	X United States Steel Corporation	United States Steel Corporation	Sell	-9,000-50.3%	$362.68K	8,900
Q1 2024Mar 31, 2024	BIL SPDR Bloomberg 1-3 Month T-Bill	SPDR Bloomberg 1-3 Month T-Bill	Sell - Position Exit	-10,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	J Jacobs Solutions Inc.	Jacobs Solutions Inc.	Sell - Position Exit	-11,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	MIDD The Middleby Corporation	The Middleby Corporation	Sell - Position Exit	-14,500-100.0%	$0.00	-
Q1 2024Mar 31, 2024	DAR Darling Ingredients Inc.	Darling Ingredients Inc.	Sell - Position Exit	-16,200-100.0%	$0.00	-
Q1 2024Mar 31, 2024	DIN Dine Brands Global, Inc. Common	Dine Brands Global, Inc. Common	Sell - Position Exit	-20,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell - Position Exit	-21,600-100.0%	$0.00	-
Q1 2024Mar 31, 2024	DK Delek US Holdings, Inc.	Delek US Holdings, Inc.	Sell - Position Exit	-32,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	VOO Vanguard S&P 500 ETF	Vanguard S&P 500 ETF	Sell	-32,000-80.0%	$3.85M	8,000
Q1 2024Mar 31, 2024	ATS ATS Corporation	ATS Corporation	Sell - Position Exit	-40,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	BN Brookfield Corporation	Brookfield Corporation	Sell - Position Exit	-50,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	FHN First Horizon Corporation	First Horizon Corporation	Sell	-69,650-50.0%	$1.07M	69,650
Q1 2024Mar 31, 2024	IMAX Imax Corporation	Imax Corporation	Sell - Position Exit	-125,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	DENN Denny's Corporation	Denny's Corporation	Sell - Position Exit	-125,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	CCAP Crescent Capital BDC, Inc.	Crescent Capital BDC, Inc.	Sell	-146,840-7.0%	$33.57M	1,945,858
Q1 2024Mar 31, 2024	OR Osisko Gold Royalties Ltd	Osisko Gold Royalties Ltd	Sell - Position Exit	-160,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	UA Under Armour, Inc.	Under Armour, Inc.	Sell - Position Exit	-229,000-100.0%	$0.00	-
Q1 2024Mar 31, 2024	ICDI Independence Contract Drilling	Independence Contract Drilling	Sell - Position Exit	-390,294-100.0%	$0.00	-

Page 3 of 19 • 555 total trades

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