UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 13F

FORM 13F COVER PAGE

Report for the Quarter Ended: September 30, 2009

Check here if Amendment: [ ]; Amendment Number: ____

This Amendment (check only one): [ ] is a restatement.
[ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name: Fairfax Financial Holdings Limited
Address: 95 Wellington Street West
 Suite 800
 Toronto, ON M5J 2N7

Form 13F File Number: 028-12554

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name: Bradley Martin
Title: Vice President, Corporate Secretary and Chief Operating Officer Phone: 416-367-4941

Signature, Place, and Date of Signing:

/s/ Bradley Martin Toronto, ON November 12, 2009
-------------------------------------

Report Type (Check one only):

[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)

[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)

[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)


FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 2
Form 13F Information Table Entry Total: 45
Form 13F Information Table Value Total: $6,785,115
 (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

No. Form 13F File Number Name
--- -------------------- ----
01 028-12555 Hamblin Watsa Investment Counsel Ltd.
02 028-12556 V. Prem Watsa


FAIRFAX FINANCIAL HOLDINGS LIMITED
FORM 13F INFORMATION TABLE
SEPTEMBER 30, 2009

 COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
------------------------------ -------------- ----------- --------- -------------------- ---------- -------- ----------------
 VOTING AUTHORITY
 VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ----------------
 NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
------------------------------ -------------- ----------- --------- ----------- --- ---- ---------- -------- ---- ------ ----
BALDWIN & LYONS INC CL B CL B 057755209 22,734 969,875 SH DEFINED 01,02 SOLE
BCE INC. COM 05534B760 6,592 268,300 SH DEFINED 01,02 SOLE
BERKSHIRE HATHAWAY INC. CL B 084670207 397 120 SH DEFINED 01,02 SOLE
BERKSHIRE HATHAWAY INC. CL A 084670108 404 4 SH DEFINED 01,02 SOLE
BRISTOL-MYERS SQB COM 110122108 225 10,000 SH DEFINED 01,02 SOLE
BROWN & BROWN INC COM 115236101 230 12,000 SH DEFINED 01,02 SOLE
BURLINGTON NORTHN SANTA FE CP COM 12189T104 166,476 2,088,000 SH DEFINED 01,02 SOLE
CFS BANCORP INC. COM 12525D102 44 10,000 SH DEFINED 01,02 SOLE
CRESUD S A C I F Y A SPONSORED ADR 226406106 25,450 1,977,500 SH DEFINED 01,02 SOLE
DELL INC COM 24702R101 529,448 34,763,489 SH DEFINED 01,02 SOLE
FIRST PLACE FINANCIAL/OHIO COM 33610T109 30 10,000 SH DEFINED 01,02 SOLE
FRONTIER COMMUNICATIONS CORP COM 35906A108 116,952 15,593,600 SH DEFINED 01,02 SOLE
GANNETT INC COM 364730101 18,993 1,520,659 SH DEFINED 01,02 SOLE
GENERAL ELECTRIC CO COM 369604103 435,671 26,597,770 SH DEFINED 01,02 SOLE
GENERAL ELECTRIC CO COM 369604103 8,354 2,620,000 SH CALL DEFINED 01,02 SOLE
INTEL CORP COM 458140100 111,748 5,716,000 SH DEFINED 01,02 SOLE
INTERNATIONAL COAL GRP INC NEW COM 45928H106 147,254 36,539,400 SH DEFINED 01,02 SOLE
JOHNSON & JOHNSON COM 478160104 418,634 6,884,300 SH DEFINED 01,02 SOLE
KRAFT FOODS INC CL A 50075N104 261,085 9,949,871 SH DEFINED 01,02 SOLE
LEUCADIA NATL CORP COM 527288104 16,677 676,000 SH DEFINED 01,02 SOLE
LEVEL 3 COMMUNICATIONS INC NOTE 5.000%
 JAN 15 2013 52729NBM1 118,198 100,062,000 PRN DEFINED 01,02 SOLE
LEVEL 3 COMMUNICATIONS INC COM 52729N100 192,201 139,276,421 SH DEFINED 01,02 SOLE
MAGNA INTL INC CL A 559222401 224,701 5,287,076 SH DEFINED 01,02 SOLE
MERCK & CO. INC. COM 589331107 253 8,000 SH DEFINED 01,02 SOLE
MOHAWK INDS INC COM 608190104 277 5,800 SH DEFINED 01,02 SOLE
NAM TAI ELECTRS INC COM 629865205 135 25,000 SH DEFINED 01,02 SOLE
NEW YORK COMMUNITY BANCORP INC COM 649445103 285 25,000 SH DEFINED 01,02 SOLE
NEWMARKET CORP COM 651587107 372 4,000 SH DEFINED 01,02 SOLE
ODYSSEY RE HOLDINGS CORP COM 67612W108 2,747,905 42,399,400 SH DEFINED 01,02 SOLE
OFFICE DEPOT INC COM 676220106 183 27,800 SH DEFINED 01,02 SOLE
OLD REPUBLIC INTL CORPORATION COM 680223104 243 20,000 SH DEFINED 01,02 SOLE
OVERSTOCK.COM INC COM 690370101 49,713 3,388,774 SH DEFINED 01,02 SOLE
OVERSTOCK.COM INC NOTE 3.750%
 DEC 01 2009 690370AB7 30,512 36,873,000 PRN DEFINED 01,02 SOLE
PFIZER INC COM 717081103 3,986 241,300 SH DEFINED 01,02 SOLE
PIER 1 IMPORTS INC NOTE 6.375%
 2/15/11 720279AH1 2,341 2,500,000 PRN DEFINED 01,02 SOLE
RYANAIR HLDGS PLC SPONSORED ADR 783513104 5,636 194,200 SH DEFINED 01,02 SOLE
SANDRIDGE ENERGY INC COM 80007P307 11,426 881,600 SH DEFINED 01,02 SOLE
STEWART ENTERPRISES INC CL A 860370105 21,352 4,082,546 SH DEFINED 01,02 SOLE
US BANCORP DEL COM NEW 902973304 346,620 15,870,900 SH DEFINED 01,02 SOLE
USG Corp COM NEW 903293405 125,612 7,311,500 SH DEFINED 01,02 SOLE
VIACOM INC - CL. B CL B 92553P201 11,192 400,000 SH DEFINED 01,02 SOLE
WAL-MART STORES INC COM 931142103 10,784 220,000 SH DEFINED 01,02 SOLE
WELLS FARGO & CO. NEW COM 949746101 562,806 20,028,700 SH DEFINED 01,02 SOLE
WESCO FINANCIAL CORP COM 950817106 359 1,100 SH DEFINED 01,02 SOLE
ZENITH NATL INS CORP COM 989390109 30,625 991,100 SH DEFINED 01,02 SOLE

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