sc13g

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

Information to be Included in Statements Filed Pursuant to § 240.13d-1(b), (c)
and (d) and Amendments Thereto Filed Pursuant to § 240.13d-2.

Under the Securities Exchange Act of 1934

Kennedy-Wilson Holdings, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
74347T103
(CUSIP Number)
May 21, 2010
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     þ Rule 13d-1(c)

     o Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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.
  
74347T103 
 13G Page  
2 
   of   
18
   Pages

 

           
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)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  CANADIAN
       
  5   SOLE VOTING POWER
     
NUMBER OF  
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   7,380,661
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON  
       
WITH 8   SHARED DISPOSITIVE POWER
     
    7,380,661
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  7,380,661
     
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  15.2%
     
12   TYPE OF REPORTING PERSON
   
  IN

2

 

                     
CUSIP No.
  
74347T103 
 13G  Page  
3 
   of   
18
   Pages

 

           
1   NAMES OF REPORTING PERSON/I.R.S. Identification Nos. of Above Persons (Entities Only)

1109519 ONTARIO LIMITED
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  ONTARIO, CANADA
       
  5   SOLE VOTING POWER
     
NUMBER OF  
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   7,380,661
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON  
       
WITH 8   SHARED DISPOSITIVE POWER
     
    7,380,661
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  7,380,661
     
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  15.2%
     
12   TYPE OF REPORTING PERSON
   
  CO

3

 

                     
CUSIP No.
  
74347T103 
 13G  Page  
4 
   of   
18
   Pages

 

           
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)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  BRITISH COLUMBIA, CANADA
       
  5   SOLE VOTING POWER
     
NUMBER OF  
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   7,380,661
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON  
       
WITH 8   SHARED DISPOSITIVE POWER
     
    7,380,661
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  7,380,661
     
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  15.2%
     
12   TYPE OF REPORTING PERSON
   
  CO

4

 

                     
CUSIP No.
  
74347T103 
 13G Page  
5 
   of   
18
   Pages

 

           
1   NAMES OF REPORTING PERSON/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

810679 ONTARIO LIMITED
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  ONTARIO, CANADA
       
  5   SOLE VOTING POWER
     
NUMBER OF  
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   7,380,661
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON  
       
WITH 8   SHARED DISPOSITIVE POWER
     
    7,380,661
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  7,380,661
     
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  15.2%
     
12   TYPE OF REPORTING PERSON
   
  CO

5

 

                     
CUSIP No.
  
74347T103 
 13G  Page  
6 
   of   
18
  Pages

 

           
1   NAMES OF REPORTING PERSON/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

FAIRFAX FINANCIAL HOLDINGS LIMITED
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  CANADA
       
  5   SOLE VOTING POWER
     
NUMBER OF  
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   7,380,661
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON  
       
WITH 8   SHARED DISPOSITIVE POWER
     
    7,380,661
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  7,380,661
     
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  15.2%
     
12   TYPE OF REPORTING PERSON
   
  CO

6

 

                     
CUSIP No.
  
74347T103 
 13G  Page  
7 
   of   
18
  Pages

 

           
1   NAMES OF REPORTING PERSON/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

ODYSSEY AMERICA REINSURANCE CORPORATION
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  CONNECTICUT
       
  5   SOLE VOTING POWER
     
NUMBER OF  
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   3,956,004
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON  
       
WITH 8   SHARED DISPOSITIVE POWER
     
    3,956,004
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,956,004
     
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  8.2%
     
12   TYPE OF REPORTING PERSON
   
  CO

7

 

Item 1.(a) Name of Issuer:
Kennedy-Wilson Holdings, Inc.
Item 1(b) Address of Issuer’s Principal Executive Offices:
9701 Wilshire Blvd., Suite 700, Beverly Hills, CA 90212
Item 2.(a) Name of Person Filing:
          This statement is being jointly filed by the following persons (collectively, the “Reporting Persons”):
  1.   V. Prem Watsa, an individual;
 
  2.   1109519 Ontario Limited (“1109519”), a corporation incorporated under the laws of Ontario;
 
  3.   The Sixty Two Investment Company Limited (“Sixty Two”), a corporation incorporated under the laws of British Columbia;
 
  4.   810679 Ontario Limited (“810679”), a corporation incorporated under the laws of Ontario;
 
  5.   Fairfax Financial Holdings Limited (“Fairfax”), a corporation incorporated under the laws of Canada; and
 
  6.   Odyssey America Reinsurance Corporation (“Odyssey America”), a corporation incorporated under the laws of Connecticut.
Item 2(b) Address of Principal Business Office:
          The addresses of the Reporting Persons are as follows:
  1.   Mr. Watsa’s business address is 95 Wellington Street West, Suite 800, Toronto, Ontario M5J 2N7;
 
  2.   The principal business address and principal office address of 1109519 is 95 Wellington Street West, Suite 800, Toronto, Ontario M5J 2N7;
 
  3.   The principal business address and principal office address of Sixty Two is 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia V6C 3L3;
 
  4.   The principal business address and principal office address of 810679 is 95 Wellington Street West, Suite 800, Toronto, Ontario M5J 2N7;

8

 

  5.   The principal business address and principal office address of Fairfax is 95 Wellington Street West, Suite 800, Toronto, Ontario M5J 2N7; and
 
  6.   The principal business address and principal office address of Odyssey America is 300 First Stamford Place, Stamford, Connecticut 06902.
Item 2(c) Citizenship:
V. Prem Watsa is a citizen of Canada.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
74347T103
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
  (a)   o Broker or Dealer registered under Section 15 of the Act (15 U.S.C. 78o);
 
  (b)   o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
 
  (c)   o Insurance Company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
 
  (d)   o An Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
 
  (e)   o An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
 
  (f)   o An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
 
  (g)   o A parent holding company or control person, in accordance with §240.13d-1(b)(1)(ii)(G);
 
  (h)   o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
  (i)   o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company
    Act of 1940 (15 U.S.C. 80a-3);
 
  (j)   o A non-US institution in accordance with §240.13d-1(b)(1)(ii)(J);

9

 

  (k)   o Group, in accordance with §240.13d-1(b)(1)(ii)(K).
Item 4. Ownership.
Based on the most recent information available, the aggregate number and percentage of the shares of common stock (the “Shares”) of Kennedy-Wilson Holdings, Inc. that are beneficially owned by each of the Reporting Persons is set forth in boxes 9 and 11 of the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference.
The number of Shares as to which each of the Reporting Persons has sole voting power, shared voting power, sole dispositive power and shared dispositive power is set forth in boxes 5, 6, 7 and 8, respectively, on the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference.
Shares reported as beneficially owned are Shares issuable upon conversion of certain convertible securities of Kennedy-Wilson Holdings, Inc.
Neither the filing of this Schedule 13G nor the information contained herein shall be deemed to constitute an affirmation by V. Prem Watsa, 1109519, Sixty Two, 810679, Fairfax or Odyssey America that such person is the beneficial owner of the Shares referred to herein for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose, and such beneficial ownership is expressly disclaimed.
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Certain of the Shares beneficially owned by the Reporting Persons are held by subsidiaries of Fairfax, which subsidiaries have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities. Except as disclosed herein, no such interest of a subsidiary relates to more than 5% of the class of Shares.
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
See attached Exhibit No. 1.
Item 9. Notice of Dissolution of Group.
Not applicable.

10

 

Item 10. Certification.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

11

 

SIGNATURE
          After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
         
     
Dated: June 1, 2010  V. Prem Watsa 

/s/ V. Prem Watsa 		  
     
     

12

 

         
SIGNATURE
          After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
         
Dated: June 1, 2010  1109519 Ontario Limited
 		  
  By:   /s/ V. Prem Watsa    
    Name:   V. Prem Watsa   
    Title:   President   

13

 

         
SIGNATURE
          After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
         
Dated: June 1, 2010  The Sixty Two Investment Company Limited
 		  
  By:   /s/ V. Prem Watsa   
    Name:   V. Prem Watsa   
    Title:   President   

14

 

         
SIGNATURE
          After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
         
Dated: June 1, 2010  810679 Ontario Limited
 		  
  By:   /s/ V. Prem Watsa   
    Name:   V. Prem Watsa   
    Title:   President   

15

 

         
SIGNATURE
          After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
         
Dated: June 1, 2010  Fairfax Financial Holdings Limited
 		  
  By:   /s/ Paul Rivett   
    Name:   Paul Rivett   
    Title:   Vice President and Chief Legal Officer   

16

 

         
SIGNATURE
          After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
         
Dated: June 1, 2010  Odyssey America Reinsurance Corporation
 		  
  By:   /s/ Kirk Reische   
    Name:   Kirk Reische   
    Title:   Vice President   

17

 

         
Exhibit Index
     
Exhibit No.   Description
 
    
1
  Members of filing group.
 
    
2
  Joint Filing Agreement dated as of June 1, 2010 among V. Prem Watsa, 1109519 Ontario Limited, The Sixty Two Investment Company Limited, 810679 Ontario Limited, Fairfax Financial Holdings Limited and Odyssey America Reinsurance Corporation.

18

 

EXHIBIT 1
MEMBERS OF FILING GROUP
V. Prem Watsa
1109519 Ontario Limited
The Sixty Two Investment Company Limited
810679 Ontario Limited
Fairfax Financial Holdings Limited
Odyssey America Reinsurance Corporation.

 

 

EXHIBIT 2
CUSIP No. 74347T103
AGREEMENT CONCERNING JOINT FILING
OF SCHEDULE 13G
          The undersigned agree as follows:
          (i) each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached, and such Schedule 13G is filed on behalf of each of them; and
          (ii) each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other person making the filing, unless such person knows or has reason to believe that such information is inaccurate.
          This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which, taken together, shall constitute one and the same instrument.
          Dated: June 1, 2010

 

 

         
     
  V. PREM WATSA
 		  
  /s/ V. Prem Watsa   
     
  1109519 ONTARIO LIMITED
 		  
  By:   /s/ V. Prem Watsa   
    Name:   V. Prem Watsa   
    Title:   President   
 
  THE SIXTY TWO INVESTMENT COMPANY
LIMITED
 		  
  By:   /s/ V. Prem Watsa   
    Name:   V. Prem Watsa   
    Title:   President   
 
  810679 ONTARIO LIMITED
 		  
  By:   /s/ V. Prem Watsa   
    Name:   V. Prem Watsa   
    Title:   President   
 
  FAIRFAX FINANCIAL HOLDINGS LIMITED
 		  
  By:   /s/ Paul Rivett   
    Name:   Paul Rivett   
    Title:   Vice President and Chief Legal Officer   

 

 

         
         
  ODYSSEY AMERICA REINSURANCE CORPORATION.
 		  
  By:   /s/ Kirk Reische   
    Name:   Kirk Reische   
    Title:   Vice President