V. Prem Watsa, known as Canada’s Warren Buffett, purchased 13,182,469 shares of Under Armour for approximately $67.4 million on Jan. 2, 2026. All shares were acquired indirectly through Fairfax Financial Holdings Limited subsidiaries. This transaction resulted in zero direct ownership for Watsa. The purchase included a mix of Class A and Class C shares, indicating a potential activist investor approach. Under Armour’s market cap has decreased significantly, making it potentially undervalued. However, the company’s financial performance has been shaky, with revenue and gross margin declining in recent months.

The acquisition reflects a shift in ownership structure for Watsa, consolidating all shares under indirect entities. This move aligns with his investment strategy focused on insurance and undervalued consumer goods stocks. Under Armour operates through a hybrid model, targeting athletes and active consumers globally. The company’s revenue and market cap have decreased, potentially presenting an opportunity for value investors. Watsa’s purchase of voting-class shares suggests a more active role in influencing the company’s direction.

Read more at Nasdaq: A 10 Percent Owner Bought 13.2 Million Under Armour Shares for $67.4 Million