Watsa Buys Hewlett-Packard, Sterling Bancorp; Adds BP, Ultra Petroleum

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Fairfax Financial Holdings Ltd (TSE:FFH), the insurance holding company controlled by Prem Watsa, disclosed that its equity portfolio had a market value of more than $1.3 billion during the fourth quarter of 2013 based on its latest 13F filing with the Securities and Exchange Commission (SEC).

Prem Watsa’s top five stockholdings

The largest stockholdings of Fairfax Financial Holdings Ltd (TSE:FFH) during the quarter include Resolute Forest Products Inc (NYSE:RFP) which accounts for 35.59% of the portfolio followed by BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) 29.52%, SandRidge Energy Inc. (NYSE:SD) 15.06%, Overstock.com, Inc. (NASDAQ:OSTK) 7.51%, and EXCO Resources Inc (NYSE:XCO) 4.39%.

Prem Watsa’s new positions

During the quarter, Watsa acquired 48,500 shares of Edwards Group Ltd – (NASDAQ:EVAC), 9,400 shares of Hewlett-Packard Company (NYSE:HPQ), 25,000 shares of Sterling Bancorp (NYSE:STL), 10,000 shares of Viropharma Inc (NASDAQ:VPHM), and 15,900 shares of Penn West Petroleum Ltd (NYSE:PWE).

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He also purchased 7,600 shares of CSX Corporation (NYSE:CSX) and 2,200 shares of General Dynamics Corporation (NYSE:GD).

Increased positions

During the quarter, Watsa increased his position in BP plc (NYSE:BP) 2,000 shares to 7,000 shares. He also boosted his stake in Ultra Petroleum Corp. (NYSE:UPL) by 19,100 shares to 32,500 shares.

Reduced positions

Watsa lowered his stake in Johnson & Johnson (NYSE:JNJ) by 2,857,041 shares to 84,700 shares and Cooper Tire & Rubber Co (NYSE:CTB) by 47,000 shares to 22,500 shares.

Sold out positions

He sold out his entire stake in Spreadtrum Communications, Inc (NASDAQ:SPRD), rue21, inc. (NASDAQ:RUE), Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX), Dell Inc. (NASDAQ:DELL), and CNinsure Inc. (NASDAQ:CISG), among others.

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