Fairfax 2026

[villainx]

6 minutes ago, SafetyinNumbers said:

I assume they have less shares to buy for employees than they did 5 years ago because the stock has moved up faster than total comp. 

 

They repurchased a million shares! 

 

Plus it was a joke!

 

[SafetyinNumbers]

5 minutes ago, villainx said:

 

They repurchased a million shares! 

 

Plus it was a joke!

 

I know but I think it’s relevant. 

[Hoodlum]

3 hours ago, gfp said:

 

In past years they have tended to purchase the shares for this purpose (treasury shares to be issued later for compensation) at the beginning of the year and the shares purchased later in the year - like these recent purchases - have gone towards cancellation.

 

During all of 2025 they purchased 118k shares for Treasury.  In Q1 this year they purchased 52k shares for Treasury.  I believe we may see additional purchases for Treasury this year.

 

(corrected number of shares)
 

Edited 43 minutes ago by Hoodlum

[Hoodlum]

14 minutes ago, Hoodlum said:

 

During all of 2025 they purchased 118k shares for Treasury.  In Q1 this year they purchased 52k shares for Treasury.  I believe we may see additional purchases for Treasury this year.

 

(corrected number of shares)
 

 

I noticed that total dollar value of Shares Purchased for Treasury dropped from $240M in 2024 to $189M in 2025.  I am not sure of the reason for this drop as I would expect the total dollar amount to gradually grow over time as the number of employees increase.  So the total dollar amount that is purchased for treasury in 2026 could vary as well.

[MMM20]

6 minutes ago, Hoodlum said:

 

I noticed that total dollar value of Shares Purchased for Treasury dropped from $240M in 2024 to $189M in 2025.  I am not sure of the reason for this drop as I would expect the total dollar amount to gradually grow over time as the number of employees increase.  So the total dollar amount that is purchased for treasury in 2026 could vary as well.

I believe they’re opportunistic with even the shares purchased for comp so it has some lumpiness 

[Hoodlum]

14 hours ago, gokou3 said:

Updated 2025–2026 NCIB Running Ledger

• TSX Approved Program Maximum: 2,187,316 shares

• Absorbed in Q4 2025 (Corrected): 464,742 shares

• Absorbed in Q1 2026: 374,883 shares

• Absorbed in April 2026: 17,100 shares

• Absorbed in May 2026 (via SEDI): 170,000 shares

• Absorbed in June 2026 (via SEDI): 499,413 shares

• Total Program Shares Cancelled to Date: 1,526,138 shares

Remaining NCIB Runway

• Remaining Purchase Capacity: 661,178 shares (valid through September 29, 2026)

 

For the remaining purchase capacity I believe you would also need to include the shares purchased for Treasury.  There were 25k shares purchased in Q4 and 52k shares purchased in Q1.  I am not sure what was purchased for Treasury in Q2.  

 

Edited 27 minutes ago by Hoodlum

[Viking]

It appears Fairfax has been very busy on the share buyback front over the past 9 months (Q4-2025 + Q1 + EQ2-2026). We will get confirmation on Q2 amounts when Fairfax reports results.    

• Shares repurchased: 1.5M, for $2.48B, or ~$1,637/share
• Diluted share count reduced: 6.6%
• Total capital returned to shareholders (including dividend): $2.81B

Clearly, Fairfax feels their shares are trading at a very attractive valuation. And they are acting with conviction. 

 

Edited 1 minute ago by Viking