Big Losses in BlackBerry Ltd (BBRY) Weigh on Prem Watsa’s Fairfax Financial; Picks Lost 8% in Q1

Watsa had a double-digit gainer in Pfizer Inc. (NYSE:PFE) which ran up 12% in the first quarter. As of year-end 2014, Fairfax held 235,000 shares valued at $7.32 million. Another notable investors bullish on Pfizer is Ken Fisher of Fisher Asset Management. His firm holds 31.2 million shares valuing the investment at $971 million and representing 2% of Fisher Asset Management’s equity portfolio. Cliff Asness’ AQR Capital Management and Diamond Hill Capital have the largest positions in Pfizer Inc. (NYSE:PFE) after Fisher, whose position was the largest among the funds in our database.Pfizer’s 12% run in the first quarter was nice for everyone, but Fairfax’s position in Pfizer, however, wasn’t big enough to cover the Blackberry loss as the investment represented only 0.47% of the equity portfolio.

Fairfax had a slow start with Johnson & Johnson (NYSE:JNJ) as the stock fell in the first quarter by 3.1%. But since Fairfax’s position was again minor, the drop didn’t affect the firm very much. At the beginning of 2015, Fairfax held 82,000 shares of Johnson & Johnson (NYSE:JNJ) valuing the investment at just $8.6 million and representing just 0.56% of the firm’s portfolio. The appeal is easy however. Johnson & Johnson boasts a track record of not decreasing its dividend for 52 years and currently provides a payout of approximately 2.8%. Again, Ken Fisher’s fund, Fisher Asset Management, appears on Johnson & Johnson’s list of notable investors with about $1 billion invested in the company.

One interesting item on Fairfax’s filing is its investment in the real estate investment and services company, Kennedy-Wilson Holdings Inc (NYSE:KW). Fairfax’s still holds 400,000 shares which valued the investment at just $10 million at the beginning of 2015. Kennedy-Wilson Holdings Inc (NYSE:KW) gained 3.8% for the quarter but again, the investment only represented 0.65% of the firm’s portfolio. Notable investors include Alan S. Parsow’s Elkhorn Partners with 3.7 million shares and Seawolf Capital, run by Porter Collins, Daniel Moses, and Vincent Daniel, which had approximately 840,000 shares.