Fairfax Updates BlackBerry Stake; Watsa Group Adjusts Holdings

TL;DR

**Fairfax Financial just updated its BlackBerry ownership, signaling potential portfolio adjustments by a major investor.**

AI Summary

Fairfax Financial Holdings Limited and its affiliates, including V. Prem Watsa, filed an SC 13D/A on February 20, 2024, updating their beneficial ownership in BlackBerry Ltd. The filing indicates a change in the reporting group members, which now includes entities like B.C. Unlimited Liability Co and Allied World Assurance Co Holdings I, Ltd. This amendment reflects ongoing adjustments to the ownership structure of Fairfax's stake in BlackBerry.

Why It Matters

This filing indicates a significant investor, Fairfax Financial, is adjusting its reported ownership structure in BlackBerry, which could signal strategic shifts or ongoing portfolio management.

Risk Assessment

Risk Level: low — The filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership group members rather than a new, aggressive stake.

Key Players & Entities

• BLACKBERRY Ltd (company) — Subject Company
• Fairfax Financial Holdings Limited (company) — Reporting Group Member (implied by V. Prem Watsa and other entities)
• V. PREM WATSA (person) — Reporting Group Member
• B.C. UNLIMITED LIABILITY CO (company) — Reporting Group Member
• ALLIED WORLD ASSURANCE CO HOLDINGS I, LTD (company) — Reporting Group Member

FAQ

Filing Documents

• tm246589d1_sc13d.htm (SC 13D/A) — 803KB
• tm246589d1_ex99-20.htm (EX-99.20) — 53KB
• 0001104659-24-025508.txt ( ) — 860KB

From the Filing

SC 13D/A 1 tm246589d1_sc13d.htm SC 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 13)* BlackBerry Limited (Name of Issuer) Common Stock, No Par Value (Title of Class of Securities) 09228F103 (CUSIP Number) Peter Clarke President and Chief Operating Officer Fairfax Financial Holdings Limited 95 Wellington Street West, Suite 800 Toronto, Ontario, Canada, M5J 2N7 Telephone: (416) 367-4941 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) - With a copy to - Sean J. Skiffington Ryan E. Robski Shearman & Sterling LLP Commerce Court West 199 Bay Street, Suite 4405 Toronto, Ontario M5L 1E8 Telephone (416) 360-8484 February 15, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box . The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 09228F103 1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only) V. Prem Watsa 2 Check the Appropriate Box if a Member of a Group (a) (b) 3 SEC Use Only 4 Source of Funds OO 5 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e). 6 Citizenship or Place of Organization Canadian Number of Shares Beneficially Owned by Each Reporting Person With: 7 Sole Voting Power 296,571 8 Shared Voting Power 46,853,700 9 Sole Dispositive Power 296,571 10 Shared Dispositive Power 46,853,700 11 Aggregate Amount Beneficially Owned by Each Reporting Person 47,150,271 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 13 Percent of Class Represented by Amount in Row (11) 8.1% 14 Type of Reporting Person IN CUSIP No. 09228F103 1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only) The Second 810 Holdco Ltd. 2 Check the Appropriate Box if a Member of a Group (a) (b) 3 SEC Use Only 4 Source of Funds OO 5 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e). 6 Citizenship or Place of Organization Canada Number of Shares Beneficially Owned by Each Reporting Person With: 7 Sole Voting Power 8 Shared Voting Power 46,853,700 9 Sole Dispositive Power 10 Shared Dispositive Power 46,853,700 11 Aggregate Amount Beneficially Owned by Each Reporting Person 46,853,700 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 13 Percent of Class Represented by Amount in Row (11) 8.0% 14 Type of Reporting Person CO CUSIP No. 09228F103 1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only) The Second 1109 Holdco Ltd. 2 Check the Appropriate Box if a Member of a Group (a) (b) 3 SEC Use Only 4 Source of Funds OO 5 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e). 6 Citizenship or Place of Organization Canada Number of Shares Beneficially Owned by Each Reporting Person With: 7 Sole Voting Power 8 Shared Voting Power 46,724,700 9 Sole Dispositive Power 10 Shared Dispositive Power 46,724,700 11 Aggregate Amount Beneficially Owned by Each Reporting Person 46,724,700 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 13 Percent of Class Represented by Amount in Row (11) 8.0% 14 Type of Reporting Person CO CUSIP No. 09228F103 1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons (Entities Only) The Sixty Two Investment Company Limited 2 Check the Appropriate Box if a Member of a Group (a) (b) 3 SEC Use Only 4 Source of Funds OO 5 Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e). 6 Citizenship or Place of Organization British Columbia Number of Shares Beneficially Owned by Each Reporting Person With: 7 Sole Voting Power 8 Shared Voting Power 46,724,700 9 Sole Dispositive Power 10 Shared Dispositive Power 46,724,700 11 Aggregate Amount Beneficially Owned by Each Reporting Person 46,724,700 12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares 13 Percent of Class Represented by Amount in Row (11) 8.0% 14 Type of Reporting Person CO CUSIP No. 09228F103 1 Names of Reporting Person/I.R.S. Identif