Fairfax Financial Holdings Limited (PINK:FRFHF) (TSE:FFH), the hedge fund based in Toronto-Canada, managed by its chairman and chief executive officer, Prem Watsa, reported its stock holdings for the third quarter of 2012 that ended on September 30.
Prem Watsa’s Fairfax Financial Holdings Limited (TSE:FFH) bought 57,500 shares of Nexen Inc. (NYSE:NXY) (TSE:NXY) at $25.32 per share during the quarter. Nexen Inc. is an upstream oil and gas company in Canada, focused in developing energy resources in the UK North Sea, West Africa offshore, Gulf of Mexico, and in the Western part of Canada. The company’s business is focused in the production conventional oil & gas, oil sands, and shale gas.
Nexen Inc. (NYSE:NXY) (TSE:NXY) previously announced its $15.1 billion merger transaction with CNOOC, a state-controlled oil and gas producer in China. CNOOC Limited (NYSE:CEO) (HKG:0883) agreed to acquire Nexen in an all cash transaction of $27.50 per share, a 61 percent premium on the closing price of Nexen stock at the New York Stock Exchange on July 2012.
Prem Watsa also purchased 87,000 shares of Fushi Copperweld, Inc. (NASDAQ:FSIN) at $9.08 per share, and 22,200 shares of New Oriental Education and Technology Group (NYSE:EDU) at $16.67 per share during the third quarter.
Fushi Copperweld, Inc. (NASDAQ:FSIN) is one of the leading producers of bimetallic products. The company’s global headquarters is based in China. The company’s headquarters in the Americas and innovation center is located in Tennessee. On the other hand, New Oriental Education & Tech Grp (NYSE:EDU) is a company offering private educational services, particularly in China. The company provides English language training courses and other training courses in different foreign languages, including German, Japanese, French, Korean, etc. The company has been accused of engaging in fraud by the famous research firm, Muddy Waters LLC.
Fairfax Financial Holdings Limited (PINK:FRFHF) (TSE:FFH), increased its holdings in Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) by 93.14 percent to 51,854,700 shares at $7.52 per share. The stock represents 20.9 percent of the firm’s portfolio. During the second quarter the firm held 26, 848,500 shares. This was already known through a 13D filed in September.
The firm also acquired 18,978,790 additional shares of Resolute Forest Products Inc (NYSE:RFP) at $12.97 per share. The stock accounts for 13.18 percent of Fairfax Financial’s portfolio.
Fairfax Financial Holdings Limited (PINK:FRFHF) (TSE:FFH) reduced its stakes in U.S. Bancorp (NYSE:USB) by 30.03 percent or 3,112,579 shares, Wells Fargo & Company (NYSE:WFC) by 40.65 percent or 1,754, 687 shares, and USG Corporation (NYSE:USG) by 99.37 percent or 42,800 shares.
As of September 30, 2012, Fairfax Financial Holdings has 46 stocks under its portfolio, with approximately $1.866 billion in market value.