Prem Watsa's Fairfax Financial Holdings has increased its stake in Greek shipping lender Eurobank to 33.5%.
The bank said it had been told that the fund, owned by Indo-Canadian billionaire Prem Watsa, had lifted its stake from below 25%.
It now has 1.22bn voting rights in the bank's ordinary shares.
The holding is worth EUR 1.02bn ($1.13bn).
Eurobank also said it had been informed that The Capital Group Companies (CGC) and RWC Asset Advisors had reduced their stakes from above 5% to 4.19% and 3.39% respectively.
Fairfax now appears to be the biggest single shareholder of the bank, which is majority owned by foreign financial institutions.
The fund had 18.4% at the end of 2018, while CGC had 8.34%.
Fairfax is already the largest shareholder in boxship owner Seaspan and bought a 41% chunk of Indian tanker owner Seven Islands Shipping in April.
Businessman Watsa, born in 1950, is the founder, chairman, and chief executive, based in Toronto.
He has been called the "Canadian Warren Buffett."
Watsa was born in Hyderabad, India.
He later moved to London, Ontario, and sold sold furnaces and air conditioners to financially support his university education.
Eurobank cut loan loss provisions by 9.3% in 2018 to EUR 680m.
The major shipping lender said they accounted for 189 basis points (bp) of average net loans.
The non-performing exposure (NPE) ratio decreased by 550 bp from 2017 to 37%.
The NPE value was down by EUR 3.5bn in 2018.
