Fairfax Financial Holdings Increases Stake in Under Armour to 24%

This Schedule 13D/A filing, dated May 15, 2026, reports a significant increase in the beneficial ownership of Under Armour, Inc. (UAA) Class A Common Stock by Fairfax Financial Holdings Limited and its associated reporting persons, led by V. Prem Watsa. As of the event date on May 13, 2026, the reporting group collectively holds 45,300,872 shares, representing 24.0% of the company's outstanding Class A shares. This position is a substantial increase from the previously reported 0.0% ownership. The reporting entities include a vast network of subsidiaries such as Odyssey Group Holdings, Crum & Forster, and Allied World Assurance Company. The filing serves as Amendment No. 1 to an original Schedule 13D filed on January 1, 2026, updating Items 2, 5, and 7 to reflect the new ownership structure and the various insurance and investment subsidiaries involved in the transaction. The calculation is based on 188,834,386 Class A shares outstanding as of January 31, 2026. All reported shares are held with shared voting and dispositive power among the reporting persons.