Fairfax Financial Holdings Significantly Increases Stake in Under Armour to 24%

Fairfax Financial Holdings Limited and its affiliates, led by Chairman and CEO V. Prem Watsa, have filed Amendment No. 1 to their Schedule 13D regarding Under Armour, Inc. (UAA). As of May 13, 2026, the reporting group beneficially owns 45,300,872 shares of Class A Common Stock, representing 24.0% of the class. This significant increase from their previously reported position reflects substantial recent acquisitions. The shares are held across various subsidiaries, including FFHL Group Ltd., Fairfax (US) Inc., and Crum & Forster Holdings Corp. The filing details a complex ownership structure involving multiple Canadian, U.S., and international entities under the control of V. Prem Watsa and The Sixty Two Investment Company Limited. The calculation of the 24.0% ownership stake is based on 188,834,386 Class A Shares outstanding as of January 31, 2026. The reporting persons have shared voting and dispositive power over the reported shares, and the filing includes updated information on directors and executive officers across the affiliated entities.