Not exactly, as there is not an exact correlation between a single portfolio position and FFH's valuation. Investors look at the big picture and future potential and do not simply correlate a win on one position directly. Also, while OLA is 29.6% of FFH's portfolio, its 29.6% interest is worth $2.07B, and FFH's market cap is $61.4B. FFH owns other operating businesses and not just investments. Looking at it a different way, in the past two years FFH has made about $500M on its position. Combined FFH income for the two years will be about $350M. But the gain on OLA is not yet taxed. We cannot quantify the direct impact, but a $500M gain on $61B is not that significant to the company overall. When it sells OLA there will be a big earnings boost, but at least some of the impact is already in the stock, of course. We would guestimate that OLA was worth about 10 percentage points to FFH's share performance over the time period noted.
5i Research Answer: