Fairfax Financial Holdings, the Toronto-based investment and insurance company, has accumulated a stake of around 22 percent in Under Armour, according to a recent regulatory filing.
The filing on Monday, January 5, showed that, as of December 30, Fairfax owned approximately 42 million shares of Under Armour. This represents an increase of almost 36 million shares from Fairfax’s previously disclosed position.
The 13D Filing states that the shares were acquired by Fairfax Financial as an investment and that Fairfax has no formal plans for mergers, takeovers or other control-seeking actions beyond the influence that comes with such a large stake and voting power.
Fairfax Financial has been led since the mid-1980s by Founder Prem Watsa, who is often compared to Warren Buffett for his long-term, contrarian investment style.
Image courtesy Under Armour, Inc.
