Prem Watsa’s Top 5 Positions Represent 70.19% Of The Total Portfolio

Prem Watsa’s top 5 positions make up 70.19% of his current portfolio, showing a highly concentrated approach. His largest holding, Orla Mining Ltd (ORLA), alone accounts for 29.90%. Below is a detailed look at each of the top 5 positions, including shares held, value, portfolio weight, and commentary.

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Orla Mining Ltd (ORLA)

• Shares: 56,817,229
• Value: $559.64M
• Portfolio %: 29.90%
• Change in Shares: 0
• % Change in Shares: 0.00%
• Analysis: Watsa’s top position in Orla Mining represents a major commitment to the precious metals sector. This suggests confidence in gold and related assets as a store of value amid macroeconomic uncertainty.

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Occidental Petroleum Corp (OXY)

• Shares: 6,050,418
• Value: $254.12M
• Portfolio %: 13.58%
• Change in Shares: 30,000
• % Change in Shares: 0.50%
• Analysis: A modest increase in Occidental shares indicates continued belief in energy markets, with petroleum offering both cash flow stability and inflation protection.

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CVS Health Corp (CVS)

• Shares: 2,712,000
• Value: $186.97M
• Portfolio %: 9.99%
• Change in Shares: 0
• % Change in Shares: 0.00%
• Analysis: A defensive healthcare position, CVS provides stable earnings and exposure to a sector resilient to economic cycles.

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Blackberry Ltd (BB)

• Shares: 40,784,700
• Value: $186.79M
• Portfolio %: 9.98%
• Change in Shares: -5,940,000
• % Change in Shares: -12.71%
• Analysis: The significant reduction in Blackberry holdings suggests Watsa is trimming exposure, perhaps due to performance or shifting strategic priorities.

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Kraft Heinz Co (KHC)

• Shares: 4,884,000
• Value: $126.06M
• Portfolio %: 6.74%
• Change in Shares: 1,525,000
• % Change in Shares: 45.40%
• Analysis: The large increase in Kraft Heinz shares signals rising conviction in the consumer staples sector, possibly reflecting expectations for steady cash flows and defensive characteristics.