13F
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FAIRFAX FINANCIAL HOLDINGS LTD/ CAN

13F equity value
$1.9B
Positions
29
Top 10 concentration
88.0%
Quarters / total new picks
25 / 76
13F equity value over time
$0M$2B$4B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 25 quarters, returned +0.5% per quarter — versus +1.9% per quarter from simply owning every 13F stock. It beat that baseline in only 52.0% of quarters (excess t = -1.07, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-3.3%
t-stat
-1.07
Quarterly win rate
52%
Annualized excess
-7.5%
$1 → follow vs universe
$0.91 vs $1.43
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120181231: universe 0.91120190930: universe 0.98020191231: universe 0.79120200331: universe 0.95320200630: universe 1.05320200930: universe 1.29120201231: universe 1.35020210331: universe 1.36220210630: universe 1.47120210930: universe 1.32120211231: universe 1.12420220331: universe 1.20720220630: universe 1.11820220930: universe 1.20120221231: universe 1.11520230331: universe 1.17520230630: universe 1.13320231231: universe 1.18420240630: universe 1.29120240930: universe 1.28020241231: universe 1.19520250630: universe 1.23220250930: universe 1.38620251231: universe 1.433 20180630: follow 0.98120181231: follow 0.94620190930: follow 0.93120191231: follow 0.61320200331: follow 0.70920200630: follow 0.76220200930: follow 0.90920201231: follow 0.98720210331: follow 0.93120210630: follow 0.87520210930: follow 0.83520211231: follow 0.74020220331: follow 0.81820220630: follow 0.81020220930: follow 0.96620221231: follow 0.95820230331: follow 0.92620230630: follow 0.89820231231: follow 1.06120240630: follow 1.23420240930: follow 1.24020241231: follow 1.04220250630: follow 0.81420250930: follow 0.97820251231: follow 0.906 0.56 1.08 1.59 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 29 · 2026 Q1

Ticker Value Weight QoQ
ORLA $502M
25.8%
HOLD
UAA $254M
13.1%
ADD
CVS $195M
10.0%
HOLD
KW $144M
7.4%
HOLD
UA $127M
6.5%
ADD
CLF $126M
6.5%
HOLD
KHC $118M
6.1%
ADD
BB $113M
5.8%
HOLD
ATS $69M
3.6%
HOLD
TAP $62M
3.2%
ADD
HP $42M
2.2%
HOLD
TSM $32M
1.6%
HOLD
GM $28M
1.4%
HOLD
PFE $28M
1.4%
ADD
BNS $25M
1.3%
HOLD
WEN $23M
1.2%
NEW
MRK $21M
1.1%
HOLD
JNJ $18M
0.9%
HOLD
GTX $3M
0.2%
TRIM
CIGI $3M
0.1%
ADD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

WBDWEN

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.