Under Armour Inc (NYSE:UA) shares rose as much as 7% before trading flat at about $5.40 after Fairfax Financial Holdings expanded its position in the sports apparel company.
Regulatory filings show that as of December 30, Canada-based Fairfax, already a 10% owner, had acquired nearly 42 million Under Armour shares, representing an estimated 22% stake.
The purchases included more than 11.5 million Class A shares at an average price of $5.14 and 1.67 million Class C shares at $4.95.
The transactions follow earlier acquisitions between December 22 and 29, when Fairfax bought an additional 15.68 million Class A and C shares at average prices of $4.61 and $4.41, respectively.
Over the course of late 2025, Fairfax steadily increased its holdings, signaling continued confidence in Under Armour’s restructuring efforts. Fairfax’s stake expansion has contributed to near-term gains in Under Armour shares, despite ongoing revenue pressures.
Fairfax Financial, founded in 1985 by Prem Watsa, has been described as having a value-investing approach similar to that of Warren Buffett.