Shawn Posted January 26, 2013 Share Posted January 26, 2013 I was on Morningstar and went to shareholder information & saw that apparently Prem Watsa disposed of 1,547,560 shares ? A few months ago it said he had a 6.74% stake in his company. Is this correct or is it a blunder on Morningstar's part ? I can't seem to find any information on it. http://investors.morningstar.com/ownership/shareholders-overview.html?t=FFH®ion=CAN&culture=en-us It won't change my mind about Fairfax but I just thought that this was interesting. Why would Prem sell such a significant stake in his company ? Tell me I'm seeing things..... Link to comment Share on other sites More sharing options...
wknecht Posted January 26, 2013 Share Posted January 26, 2013 No sign of such selling activity in the SEC filings or SEDI here: http://www.canadianinsider.com/node/7?ticker=FFH Link to comment Share on other sites More sharing options...
Parsad Posted January 26, 2013 Share Posted January 26, 2013 I was on Morningstar and went to shareholder information & saw that apparently Prem Watsa disposed of 1,547,560 shares ? A few months ago it said he had a 6.74% stake in his company. Is this correct or is it a blunder on Morningstar's part ? I can't seem to find any information on it. http://investors.morningstar.com/ownership/shareholders-overview.html?t=FFH®ion=CAN&culture=en-us It won't change my mind about Fairfax but I just thought that this was interesting. Why would Prem sell such a significant stake in his company ? Tell me I'm seeing things..... I don't see what you saw on Morningstar, but I suspect that they have an error. There is no way, NO WAY, that Prem would sell his stake in Fairfax. He will die before he does that, just like Buffett...or it will go into a trust for his family or into an endowment. The bulk of his shares are also held in "The Sixty Two Company", not his own name. Cheers! Link to comment Share on other sites More sharing options...
Shawn Posted January 26, 2013 Author Share Posted January 26, 2013 That's what I'm saying, it can't be right. No way he'd sell 83% of his shares.... But, if he bought/owned them through his other companies wouldn't it show up on there ? Especially for such a big stake ? Wouldn't he make a press release or something ?? I think it'd be a good question to ask him at the AGM. Link to comment Share on other sites More sharing options...
Shawn Posted January 26, 2013 Author Share Posted January 26, 2013 @wknecht I think I'm gonna take your word for it. I think Morningstar made a mistake or something, has to be an error. Link to comment Share on other sites More sharing options...
twacowfca Posted January 26, 2013 Share Posted January 26, 2013 @wknecht I think I'm gonna take your word for it. I think Morningstar made a mistake or something, has to be an error. Almost certainly an error of substance. Sometimes reports are misperceived as when Charlie Munger put most of his BRK shares into a trust or something like that several months ago. :) Link to comment Share on other sites More sharing options...
benhacker Posted January 26, 2013 Share Posted January 26, 2013 As was said earlier, SEDI.ca is where you go to find this information. Their site sucks, but poking around you can find what you are looking for. Find "issuer reports" and then search for FFH. You can also find what holding companies Prem owns his FFH through and what % of said holding companies he owns. ----- Below is the full report for Fairfax of Insider owners from SEDI, sorry for formatting ---- Legend: Insider's Relationship to Issuer: 1 - Issuer, 2 - Subsidiary of Issuer, 3 - 10% Security Holder of Issuer, 4 - Director of Issuer, 5 - Senior Officer of Issuer, 6 - Director or Senior Officer of 10% Security Holder, 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6), 8 - Deemed Insider - 6 Months before becoming Insider. Issuer Name: Fairfax Financial Holdings Limited Date of Last Reported Transaction(YYYY-MM-DD) Security Designation Registered Holder Closing Balance Insider's calculated balance Closing balance of equivalent number or value of underlying securities Insider Name: Ambridge, Trevor Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2006-12-31 Subordinate Voting Shares 14,177 2006-12-31 Subordinate Voting Shares Faith Ambridge 266 2003-03-10 Subordinate Voting Shares The Cymru Trust 80 Insider Name: Barnard, Andrew Insider Relationship: 2 - Subsidiary of Issuer Ceased to be Insider: Not Applicable 2012-12-31 Subordinate Voting Shares 36,715 Insider Name: Bennett, Peter Malcolm Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2006-09-26 Subordinate Voting Shares 300 2006-09-26 Subordinate Voting Shares Elizabeth Bennett 400 Insider Name: Bennett, Robert Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2012-03-09 Subordinate Voting Shares 2,161 Insider Name: Bonham, David Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 $75,000 2012-08-07 Options (Subordinate Voting Shares) 3,750 3,750 2012-03-30 Subordinate Voting Shares 542 Insider Name: Boyle, Lawrence J. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-10-28 Subordinate Voting Shares 0 Insider Name: Bradstreet, F. Brian Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 The Bradstreet Family Foundation $175,000 2009-03-31 Options (Subordinate Voting Shares) 1,603 1,603 2012-03-30 Subordinate Voting Shares 51,130 2012-02-28 Subordinate Voting Shares 1004741 Ont. Ltd. 0 2004-12-22 Subordinate Voting Shares 1352871 Ontario Ltd. 0 2012-11-15 Subordinate Voting Shares RRSP 8,360 2003-06-05 Subordinate Voting Shares RRSP of Spouse, Maria E. Bradstreet 2,185 2012-11-15 Subordinate Voting Shares The Bradstreet Family Foundation 2,200 Insider Name: Burke, Frances Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 RSP $65,000 2012-03-30 Subordinate Voting Shares 14,048 2003-03-10 Subordinate Voting Shares 1002743 Ontario Ltd. 11,249 2003-03-10 Subordinate Voting Shares Danny Burke - RPS 550 2010-12-31 Subordinate Voting Shares RSP 1,541 Insider Name: Cassil, John Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2005-03-30 Options (Subordinate Voting Shares) 600 600 2005-02-11 Subordinate Voting Shares 29 Insider Name: Chan, Sammy Y. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2004-12-31 Subordinate Voting Shares 24,548 Insider Name: Chou, Francis Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2003-12-31 Subordinate Voting Shares 61,450 2003-03-10 Subordinate Voting Shares Chou Associates Management 500 Insider Name: Christiansen, Jan Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2012-03-09 Subordinate Voting Shares 2,968 Insider Name: Clarke, Peter Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2010-05-10 Options (Subordinate Voting Shares) 5,025 5,025 2012-03-30 Subordinate Voting Shares 1,100 2010-12-31 Subordinate Voting Shares RRSP 11 Insider Name: Cloutier, Jean Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2006-11-23 Options (Subordinate Voting Shares) 8,070 8,070 2009-10-05 Preferred Shares Series C 1,000 2012-03-30 Subordinate Voting Shares 3,899 Insider Name: Coerver, Richard F. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2005-08-04 Subordinate Voting Shares 312 Insider Name: Dey, Innes Fraser Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable Insider Name: Dowd, James F. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable Insider Name: Esposito, Nicholas P. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-10-28 Subordinate Voting Shares 0 Insider Name: Evensen, Philip Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2003-08-11 Options (Subordinate Voting Shares) 0 0 2003-12-10 Subordinate Voting Shares 100 Insider Name: Gallagher, Christopher L. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2010-03-05 Subordinate Voting Shares 278 Insider Name: Gibbs, Dennis Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2005-11-02 Subordinate Voting Shares 47,430 Insider Name: Griffiths, Anthony Frear Insider Relationship: 4 - Director of Issuer, 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2004-02-09 Options (Subordinate Voting Shares) 2,750 2,750 2002-12-30 Subordinate Voting Shares 1,690 2002-12-30 Subordinate Voting Shares 3102726 Canada Inc. 1,000 2002-12-30 Subordinate Voting Shares Fourfourtwo Investments Limited 4,010 2002-12-30 Subordinate Voting Shares RBC Dominion Securities RRIF 6,300 Insider Name: Gunn, Robert John Insider Relationship: 4 - Director of Issuer Ceased to be Insider: Not Applicable 2007-05-07 Options (Subordinate Voting Shares) 2,000 2,000 2010-12-08 Subordinate Voting Shares 750 2010-12-09 Subordinate Voting Shares RSP TD Waterhouse - Bob Gunn 250 Insider Name: Horn, Alan Douglas Insider Relationship: 4 - Director of Issuer Ceased to be Insider: Not Applicable 2008-05-05 Options (Subordinate Voting Shares) 1,754 1,754 Insider Name: Hurlin, Garrick James Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable Insider Name: La Selva, Vincenza Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-08-27 Bonds 7.5% Senior Notes maturing August 19, 2019 $75,000 2009-08-27 Bonds 7.5% Senior Notes maturing August 19, 2019 RSP $50,000 2006-12-12 Options (Subordinate Voting Shares) 1,500 1,500 2011-06-23 Preferred Shares Series C 0 2012-03-21 Subordinate Voting Shares 432 2012-03-30 Subordinate Voting Shares RSP 1,638 Insider Name: Lace, Roger Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2002-10-03 Subordinate Voting Shares 4,373 2002-10-03 Subordinate Voting Shares Draxson Holdings Ltd. 53,550 2005-04-22 Subordinate Voting Shares Francis D. Lace 8,000 2012-03-30 Subordinate Voting Shares Patricia, Joseph & William Lace 2,577 Insider Name: Lovell, Peter H. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2012-03-09 Subordinate Voting Shares 1,344 Insider Name: Mallier, Philippe E. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-10-28 Subordinate Voting Shares 0 Insider Name: Martin, Bradley Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2006-11-23 Options (Subordinate Voting Shares) 14,500 14,500 2012-03-30 Subordinate Voting Shares 4,114 Insider Name: Morvan, Lambert Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2007-02-22 Subordinate Voting Shares 69 Insider Name: Murray, Paul L. Insider Relationship: 4 - Director of Issuer Ceased to be Insider: Not Applicable 2005-04-12 Options (Subordinate Voting Shares) 2,840 2,840 2005-04-12 Subordinate Voting Shares Pinesmoke Investments 80,000 Insider Name: Overy, Carl A. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2010-03-05 Options (Subordinate Voting Shares) 278 278 Insider Name: Palmer, John Ralph Vernon Insider Relationship: 4 - Director of Issuer Ceased to be Insider: Not Applicable 2012-05-03 Options (Subordinate Voting Shares) 1,244 1,244 Insider Name: Pietropoli, Lucien Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2010-03-05 Options (Subordinate Voting Shares) 278 278 2009-10-28 Subordinate Voting Shares 122 Insider Name: Price, Timothy Robert Insider Relationship: 4 - Director of Issuer Ceased to be Insider: Not Applicable 2010-05-03 Options (Subordinate Voting Shares) 1,300 1,300 2010-04-22 Subordinate Voting Shares 1,000 2010-04-22 Subordinate Voting Shares Roppongi Investments Ltd. 700 Insider Name: Quinn, Brian D. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2010-03-05 Subordinate Voting Shares 278 Insider Name: Quon, Gary Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2006-07-01 Options (Subordinate Voting Shares) 600 600 2006-07-01 Subordinate Voting Shares 541 Insider Name: Ratnaswami, Chandran Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2008-09-24 Bonds 7.375% maturing April 04, 2018 BMO Nesbitt Burns $400,000 2008-09-24 Bonds 7.375% maturing April 04, 2018 RRSP - Chandran R at ScotiaMcLeod $500,000 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 BMO Nesbitt Burns $300,000 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 RRSP - Chandran R at ScotiaMcLeod $250,000 2006-12-21 Options (Subordinate Voting Shares) 4,312 4,312 2012-03-30 Subordinate Voting Shares 9,417 2012-03-30 Subordinate Voting Shares Anita, Mahima & Viren Ratnaswami 1,548 2003-05-21 Subordinate Voting Shares Chan Vima Limited 500 Insider Name: Rivett, Paul Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2004-04-15 Bonds 7.5% Senior Notes maturing August 19, 2019 0 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 Janis Wolfe RRSP $5,000 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 Janis Wolfe TFSA $5,000 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 Paul Rivett RRSP $35,000 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 Paul Rivett TFSA $5,000 2012-05-07 Options (Subordinate Voting Shares) 16,415 16,415 2012-03-30 Subordinate Voting Shares 804 Insider Name: Rubin, Jeffrey M. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-10-28 Subordinate Voting Shares 0 Insider Name: Salsberg, Eric Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2009-05-04 Bonds 7.75% due July 15, 2037 $250,000 2008-12-31 Bonds 8.30% maturing April 15, 2026 $250,000 2008-12-31 Bonds 8.30% maturing April 15, 2026 Lynne Salsberg $75,000 2012-03-30 Subordinate Voting Shares 86,258 2009-12-29 Subordinate Voting Shares Lynne Salsberg 0 Insider Name: Salsberg, Eric P. Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable Insider Name: Salvesen, James B. Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2012-03-09 Subordinate Voting Shares 572 Insider Name: Schokking, Ronald Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2009-08-18 Bonds 7.5% Senior Notes maturing August 19, 2019 $100,000 2012-03-30 Subordinate Voting Shares 29,997 Insider Name: Smith, Bryan Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2004-04-16 Subordinate Voting Shares 15,785 Insider Name: Sweitzer, Brandon Insider Relationship: 4 - Director of Issuer Ceased to be Insider: Not Applicable 2004-04-14 Options (Subordinate Voting Shares) 0 0 2012-11-16 Subordinate Voting Shares 2,197 Insider Name: Varnell, John Charles Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2010-06-07 Subordinate Voting Shares 2,929 Insider Name: Wacek, Michael Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2012-03-09 Subordinate Voting Shares 5,161 Insider Name: Watsa, V. Prem Insider Relationship: 3 - 10% Security Holder of Issuer, 4 - Director of Issuer, 6 - Director or Senior Officer of 10% Security Holder, 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2002-10-03 Multiple Voting Shares The Sixty Two Investment Company 1,548,000 2012-03-30 Subordinate Voting Shares 127,973 2002-10-03 Subordinate Voting Shares 810679 Ontario Ltd. 129,735 2002-10-03 Subordinate Voting Shares Nalini, Ben, Christine & Stephanie Watsa 2,100 2002-10-03 Subordinate Voting Shares The Sixty Two Investment Company 50,620 Insider Name: Weiss, Robert Samson Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2006-04-10 Subordinate Voting Shares 800 2006-04-10 Subordinate Voting Shares Robert S. Weiss RESP 10 Insider Name: Williamson, Marilyn Jane Insider Relationship: 5 - Senior Officer of Issuer Ceased to be Insider: Not Applicable 2005-03-30 Options (Subordinate Voting Shares) 2,850 2,850 2009-11-13 Preferred Shares Series C 2,100 2010-02-23 Preferred Shares Series E 200 2002-10-03 Subordinate Voting Shares 1,850 Insider Name: Young, Brian David Insider Relationship: 7 - Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) Ceased to be Insider: Not Applicable 2012-03-09 Subordinate Voting Shares 5,941 Link to comment Share on other sites More sharing options...
benhacker Posted January 26, 2013 Share Posted January 26, 2013 Some historical color as well as how you can tease some of these complex ownership items out (from our old friend Bsilly): http://boards.fool.com/billtidd-if-youre-really-interested-i-can-22123879.aspx Cheers, Ben Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 27, 2013 Share Posted January 27, 2013 I was on Morningstar and went to shareholder information & saw that apparently Prem Watsa disposed of 1,547,560 shares ? A few months ago it said he had a 6.74% stake in his company. Is this correct or is it a blunder on Morningstar's part ? I can't seem to find any information on it. http://investors.morningstar.com/ownership/shareholders-overview.html?t=FFH®ion=CAN&culture=en-us It won't change my mind about Fairfax but I just thought that this was interesting. Why would Prem sell such a significant stake in his company ? Tell me I'm seeing things..... Hi scc,... I just went myself to your mentioned website at Morningstar, and couldn't find any such information at all that you were mentioning. Maybe I'm today brainless, ::) but I couldn't find there any information of the share count of senior executives. They have there only tables of institutional holders (i.e. other insurance companies, funds and banks,... holding shares). Dear scc,... not sure what you saw from your side,... from your computer. But you might help us understand you, if you would be so kind as to make a picture/ screenshot of your browser window with this Morningstar.com page and upload the photo to this forum. Maybe it would clear any misunderstandings. Otherwise I think, your numbers might be a error of Moningstar or something. I personally have been an Fairfax shareholder for almost a decade now, know all the Watsa family names, and have seen them at the AGM. Fairfax it's Prem's painting, like Buffett considers Berkshire his painting. They both will hold their shares until they die, or they will go to some family trust. Currently Prem holds most of his Fairfax ownership through his Sixty Two Company. You might be able to read the last available Fairfax proxy letter here ---> http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00002458&sub=1 Or here directly @ page 3 ---> http://www.sedar.com/GetFile.do?lang=EN&docClass=10&issuerNo=00002458&fileName=/csfsprod/data127/filings/01870276/00000001/f%3A%5Cjbarrett%5Cfairfax1411-0001%5Ccircular2012%5C283469Circular.pdf ----- (4) Mr. Watsa controls Sixty Two, which owns 50,620 of our subordinate voting shares and 1,548,000 of our multiple voting shares, and himself beneficially owns an additional 257,714 of our subordinate voting shares and exercises control or direction over an additional 2,100 of our subordinate voting shares. ----- Link to comment Share on other sites More sharing options...
Shawn Posted January 27, 2013 Author Share Posted January 27, 2013 I was on Morningstar and went to shareholder information & saw that apparently Prem Watsa disposed of 1,547,560 shares ? A few months ago it said he had a 6.74% stake in his company. Is this correct or is it a blunder on Morningstar's part ? I can't seem to find any information on it. http://investors.morningstar.com/ownership/shareholders-overview.html?t=FFH®ion=CAN&culture=en-us It won't change my mind about Fairfax but I just thought that this was interesting. Why would Prem sell such a significant stake in his company ? Tell me I'm seeing things..... Hi scc,... I just went myself to your mentioned website at Morningstar, and couldn't find any such information at all that you were mentioning. Maybe I'm today brainless, ::) but I couldn't find there any information of the share count of senior executives. They have there only tables of institutional holders (i.e. other insurance companies, funds and banks,... holding shares). Dear scc,... not sure what you saw from your side,... from your computer. But you might help us understand you, if you would be so kind as to make a picture/ screenshot of your browser window with this Morningstar.com page and upload the photo to this forum. Maybe it would clear any misunderstandings. Otherwise I think, your numbers might be a error of Moningstar or something. I personally have been an Fairfax shareholder for almost a decade now, know all the Watsa family names, and have seen them at the AGM. Fairfax it's Prem's painting, like Buffett considers Berkshire his painting. They both will hold their shares until they die, or they will go to some family trust. Currently Prem holds most of his Fairfax ownership through his Sixty Two Company. You might be able to read the last available Fairfax proxy letter here ---> http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00002458&sub=1 Or here directly @ page 3 ---> http://www.sedar.com/GetFile.do?lang=EN&docClass=10&issuerNo=00002458&fileName=/csfsprod/data127/filings/01870276/00000001/f%3A%5Cjbarrett%5Cfairfax1411-0001%5Ccircular2012%5C283469Circular.pdf ----- (4) Mr. Watsa controls Sixty Two, which owns 50,620 of our subordinate voting shares and 1,548,000 of our multiple voting shares, and himself beneficially owns an additional 257,714 of our subordinate voting shares and exercises control or direction over an additional 2,100 of our subordinate voting shares. ----- *does print screen* This is what I originally saw: http://i.imgur.com/kTTW79u.png http://i.imgur.com/kTTW79u.png You guys were right - he just transferred it to The Sixty Two Investment Company that's why it showed up like that on Morningstar. I've owned FFH for 4 years now, I can't even front I thought I was going nuts at first lol. Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 27, 2013 Share Posted January 27, 2013 *does print screen* This is what I originally saw: http://i.imgur.com/kTTW79u.png http://i.imgur.com/kTTW79u.png You guys were right - he just transferred it to The Sixty Two Investment Company that's why it showed up like that on Morningstar. I've owned FFH for 4 years now, I can't even front I thought I was going nuts at first lol. Scc,... Thanks for posting the screenshot,... just saw it now - finally. Just wonder why I was brainless last night, not finding it,...lol. It seems Mornningstar got it wrong,... they probably can't make the distinction between "subordinate voting shares" and "multiple voting shares". The first number "310,434" in that Morningstar table, is to my logic only the added sum of the "subordinate voting shares", (50,620 + 257,714 + 2,100 = 310,434). And while looking at the second number "1,547,560" (shares changed), it seems that Morningstar got accidentally some system glitch/error,... almost comparable to Charlie Munger misperceived reports. @wknecht I think I'm gonna take your word for it. I think Morningstar made a mistake or something, has to be an error. Almost certainly an error of substance. Sometimes reports are misperceived as when Charlie Munger put most of his BRK shares into a trust or something like that several months ago. :) This second "1,547,560" number by Morningstar (as of 2011-12-31),... seems to be accidentally subtracted, because this Morningstar table can't make a distinction between the two share groups (i.e.: "subordinate voting shares" and +/or "multiple voting shares"). This number should exactly be that 1,548,000 of the "multiple voting shares", as reported in last years Proxy letter at page 3 (as of March 9th, 2012). http://www.sedar.com/GetFile.do?lang=EN&docClass=10&issuerNo=00002458&fileName=/csfsprod/data127/filings/01870276/00000001/f%3A%5Cjbarrett%5Cfairfax1411-0001%5Ccircular2012%5C283469Circular.pdf These "multiple voting shares" are held not directly, but rather indirectly through "Sixty Two", which Prem Watsa totally controls. Thus Morningstar has only a messed up database with errors. So there is nothing to worry and Prem still holds all of his shares, and nobody has stolen them. ;D Link to comment Share on other sites More sharing options...
Yours Truly Posted January 27, 2013 Share Posted January 27, 2013 According to CapitalIQ, Prem owns 8.52% of shares outstanding ~ $620 mil at 1,726,593 total shares held... Insiders own a total of 10.02% Southeastern Asset Management is the largest holders at 13.42% of shares outstanding I don't see Prems name listed in the top 5 sellers in the past quarter Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now