13F filing recap · Q4 2025

What did Fairfax Financial Holdings buy in Q4 2025?

Reported stock-position changes between this filing and the previous one.

Stock value

$2.08B

Positions

Estimated turnover

27.7%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Fairfax Financial Holdings opened new positions in Under Armour, Canadian National Railway, and Priority Technology Holdings, while exiting Dollar Tree, Franco-Nevada, and KKR. The firm substantially trimmed Orla Mining and Lululemon Athletica, and dramatically added to its Under Armour stake. It also modestly reduced BlackBerry and Garrett Motion, and slightly increased Molson Coors Beverage.

New positions

UAUnder Armour, Inc.$45.40Mreported value+9.46M shares CNICanadian National Railway Company$1.96Mreported value+19.8K shares PRTHPriority Technology Holdings, Inc.$383.5Kreported value+70.5K shares

Increased positions

UAAUnder Armour, Inc.$208.54Mreported value+35.65M shares+564.8%TAPMolson Coors Beverage Co$62.49Mreported value+48.4K shares+3.8%

Reduced positions

ORLAOrla Mining Ltd.$423.61Mreported value-25.00M shares-44.0%BBBlackberry Limited$132.23Mreported value-415.1K shares-1.2%GTXGarrett Motion Inc.$4.54Mreported value-41.4K shares-13.7%LULULululemon Athletica Inc.$2.60Mreported value-12.5K shares

Exited positions

DLTRDollar Tree, Inc.$4.19Mprior reported value-44.4K shares-100.0%FNVFranco-Nevada Corporation$3.74Mprior reported value-16.8K shares-100.0%KKRKkr & Co. Inc.$2.60Mprior reported value-20.0K shares-100.0%