Fairfax Financial Holdings Ltd increases position in International Business Machines Corp (IBM)

Fairfax Financial Holdings Ltd (OTCMKTS:FRFHF) (TSE:FF) increased it’s position in International Business Machines Corp. (NYSE:IBM). Fairfax Financial is run by Prem Wasta. He is the founder, chairman, and chief executive of Fairfax Financial Holdings, based in Toronto, Canada. Prem is well known as the “Warren Buffett of Canada”. Prem’s Fairfax joins Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK.A) (NYSE:BRK.B) whom also hold a position in IBM. IBM is one of Berkshire’s top holdings.
Prem Wasta


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).

IBM has struggled in it’s most recent quarters ditching it’s 2015 Roadmap as the company aims to adjust to an increasingly cloud driven world and pursue investments in endeavors like Watson, and Business Analytics.

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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