BlackBerry Ltd (BBRY) Losses Lead To Another Quarterly Beating For Prem Watsa’s U.S Portfolio

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Prem Watsa has long been known on the Street for his large stake in BlackBerry Ltd (NASDAQ:BBRY), which at 46.67 million shares at the end of the March quarter, accounted for 8.8% of the company’s outstanding shares, with them valued at $416.5 million. After suffering a steep 18.6% decline during the first quarter, BlackBerry Ltd (NASDAQ:BBRY) lost another 8.4% during the second quarter. Although the company has been in the process of transforming itself under the leadership of CEO John Chen since 2013, its stock price hasn’t yet reflected any of the positive changes that he has seemingly made, and is currently trading near its all-time low. In a recent interview, Chen said that BlackBerry Ltd (NASDAQ:BBRY) has no intentions of selling itself as of now. Of the 30 analysts and brokerages that cover the stock,  19 have a ‘Hold’ rating on it and the average price target for the stock is currently $10.60, 35% above its current trading price. Jeff Buick’s Trishield Capital Management increased its stake in BlackBerry Ltd (NASDAQ:BBRY) by 430% to over 740,000 shares during the first quarter.

SandRidge Energy Inc. (NYSE:SD) was the fourth top pick of Fairfax Financial Holdings at the close of the March quarter. The fund held over 50.88 million shares of the company valued at over $90.57 million as of March 31. The significant decline in oil and natural gas prices have weighed heavily on SandRidge Energy Inc. (NYSE:SD), whose shares are down almost 90% in the last year and lost over 55% in the second quarter alone. For the quarter ending March 31, 2015 the company declared an EPS loss of $2.19, significantly worse than the $0.31 EPS loss it reported for the same quarter last year. Analysts have an average recommendation of ‘Underweight’ on the stock along with an average price target of $1.43, almost double its current trading price. Leon Cooperman‘s Omega Advisors owned over 24 million shares of SandRidge Energy Inc. (NYSE:SD) at the end of the first quarter.

Disclosure: None

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