Fairfax Financial Holdings Ltd increases position in International Business Machines Corp (IBM)
Fairfax substantially increased position in the quarter
Fairfax in it’s 13-F dated 9-30-2014 announced a position of 1,068,100 shares worth $202.757 million, or an average price of $189.83. The company held only 1,200 shares worth $212,000 in it’s previous 13-F on 8-30-2014.
3rd largest holding
IBM would become Fairfax’s 3rd largest holding behind Blackberry LTD (NASDAQ:BBRY) (TSE:BB) and Resolute Forest Products Inc (NYSE:RFP).
Fairfax purchased before Quarterly Earnings
The average purchase price would suggest Fairfax elected to buy IBM, before it announced it’s quarterly report and the price had declined.
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