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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(Date of Event Which Requires Filing of this Statement)

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

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13D 0000915191 XXXXXXXX LIVE Class A Common Stock ("Class A Shares") 12/30/2025 true 0001336917 904311107 Under Armour, Inc. 101 PERFORMANCE DRIVE BALTIMORE MD 21230 Sean J. Skiffington 647.280.5756 Allen Overy Shearman Sterling US LLP Commerce Court West, 199 Bay Street Toronto A6 M5L 1E8 Ryan E. Robski 416.302.1391 Allen Overy Shearman Sterling US LLP Commerce Court West, 199 Bay Street Toronto A6 M5L 1E8 0000938869 N V. PREM WATSA b OO N Z4 0.00 41958923.00 0.00 41958923.00 41958923.00 N 22.2 IN Y THE SECOND 810 HOLDCO LTD. b OO N Z4 0.00 41958923.00 0.00 41958923.00 41958923.00 N 22.2 CO Y THE SECOND 1109 HOLDCO LTD. b OO N Z4 0.00 41958923.00 0.00 41958923.00 41958923.00 N 22.2 CO 0001217251 N THE SIXTY TWO INVESTMENT COMPANY LIMITED b OO N A1 0.00 41958923.00 0.00 41958923.00 41958923.00 N 22.2 CO 0000915191 N FAIRFAX FINANCIAL HOLDINGS LIMITED b OO N Z4 0.00 41958923.00 0.00 41958923.00 41958923.00 N 22.2 CO 0001275984 N FFHL GROUP LTD. b OO N Z4 0.00 28428449.00 0.00 28428449.00 28428449.00 N 15.1 CO Y FAIRFAX (US) INC. b OO N DE 0.00 28428449.00 0.00 28428449.00 28428449.00 N 15.1 CO Y ODYSSEY GROUP HOLDINGS, INC. b OO N DE 0.00 9799447.00 0.00 9799447.00 9799447.00 N 5.2 CO 0001243947 N ODYSSEY REINSURANCE COMPANY b OO N CT 0.00 9799447.00 0.00 9799447.00 9799447.00 N 5.2 CO 0001168338 N CRUM & FORSTER HOLDINGS CORP. b OO N DE 0.00 18629002.00 0.00 18629002.00 18629002.00 N 9.9 CO Y UNITED STATES FIRE INSURANCE COMPANY b OO N DE 0.00 18629002.00 0.00 18629002.00 18629002.00 N 9.9 CO 0001276001 N THE NORTH RIVER INSURANCE COMPANY b OO N NJ 0.00 4537154.00 0.00 4537154.00 4537154.00 N 2.4 CO Y FAIRFAX UK HOLDINGS LIMITED b OO N X0 0.00 2873000.00 0.00 2873000.00 2873000.00 N 1.5 CO Y BRIT GROUP HOLDINGS LIMITED b OO N X0 0.00 2873000.00 0.00 2873000.00 2873000.00 N 1.5 CO Y BRIT INSURANCE HOLDINGS LIMITED b OO N X0 0.00 2873000.00 0.00 2873000.00 2873000.00 N 1.5 CO Y BRIT REINSURANCE (BERMUDA) LIMITED b OO N D0 0.00 2873000.00 0.00 2873000.00 2873000.00 N 1.5 CO Y 1102952 B.C. UNLIMITED LIABILITY COMPANY b OO N A1 0.00 10657474.00 0.00 10657474.00 10657474.00 N 5.6 CO Y ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD b OO N D0 0.00 10657474.00 0.00 10657474.00 10657474.00 N 5.6 CO Y ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD b OO N D0 0.00 10657474.00 0.00 10657474.00 10657474.00 N 5.6 CO Y ALLIED WORLD ASSURANCE COMPANY, LTD b OO N D0 0.00 10657474.00 0.00 10657474.00 10657474.00 N 5.6 CO Y ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD b OO N D0 0.00 8028748.00 0.00 8028748.00 8028748.00 N 4.3 CO Y ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. b OO N D0 0.00 8028748.00 0.00 8028748.00 8028748.00 N 4.3 CO Y ALLIED WORLD INSURANCE COMPANY b OO N NH 0.00 8028748.00 0.00 8028748.00 8028748.00 N 4.3 CO Y AW UNDERWRITERS INC. b OO N DE 0.00 607700.00 0.00 607700.00 607700.00 N 0.3 CO Y ALLIED WORLD SPECIALTY INSURANCE COMPANY b OO N DE 0.00 607700.00 0.00 607700.00 607700.00 N 0.3 CO Class A Common Stock ("Class A Shares") Under Armour, Inc. 101 PERFORMANCE DRIVE BALTIMORE MD 21230 (i) V. PREM WATSA (ii) THE SECOND 810 HOLDCO LTD. (iii) THE SECOND 1109 HOLDCO LTD. (iv) THE SIXTY TWO INVESTMENT COMPANY LIMITED (v) FAIRFAX FINANCIAL HOLDINGS LIMITED (vi) FFHL GROUP LTD. (vii) FAIRFAX (US) INC. (viii) ODYSSEY GROUP HOLDINGS, INC. (ix) ODYSSEY REINSURANCE COMPANY (x) CRUM & FORSTER HOLDINGS CORP. (xi) UNITED STATES FIRE INSURANCE COMPANY (xii) THE NORTH RIVER INSURANCE COMPANY (xiii) FAIRFAX UK HOLDINGS LIMITED (xiv) BRIT GROUP HOLDINGS LIMITED (xv) BRIT INSURANCE HOLDINGS LIMITED (xvi) BRIT REINSURANCE (BERMUDA) LIMITED (xvii) 1102952 B.C. UNLIMITED LIABILITY COMPANY (xviii) ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD (xix) ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD (xx) ALLIED WORLD ASSURANCE COMPANY, LTD (xxi) ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD (xxii) ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. (xxiii) ALLIED WORLD INSURANCE COMPANY (xxiv) AW UNDERWRITERS INC. (xxv) ALLIED WORLD SPECIALTY INSURANCE COMPANY (i) 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 (ii) 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 (iii) 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 (iv) 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia, Canada V6C 3L2 (v) 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 (vi) 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 (vii) 401 East Corporate Drive, Suite 200, Lewisville, Texas, 75057, USA (viii) 300 First Stamford Place, Stamford, Connecticut, USA 06902 (ix) 300 First Stamford Place, Stamford, Connecticut, USA 06902 (x) 1209 Orange Street, Wilmington, Delaware, USA 19801 (xi) 1209 Orange Street, Wilmington, Delaware, USA 19801 (xii) 305 Madison Avenue, Morristown, New Jersey, USA, 07962 (xiii) The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB; (xiv) The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB; (xv) The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB; (xvi) Clarendon House, 2 Church Street, Hamilton, Bermuda HM 11 (xvii) 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia, Canada V6C 3L2 (xviii) 27 Richmond Road, Pembroke, Bermuda HM 08 (xix) 27 Richmond Road, Pembroke, Bermuda HM 08 (xx) 27 Richmond Road, Pembroke, Bermuda HM 08 (xxi) 27 Richmond Road, Pembroke, Bermuda HM 08 (xxii) 1209 Orange Street, Wilmington, Delaware, USA 19801 (xxviii) 199 Water Street, 26th Floor, New York, New York USA 10038 (xxiv) 199 Water Street, 26th Floor, New York, New York USA 10038 (xxv) 199 Water Street, 26th Floor, New York, New York USA 10038 For each of the Reporting Persons, a full response to Item 2(c) Present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted is set forth in Exhibit 99.1 hereto. (i) No (ii) No (iii) No (iv) No (v) No (vi) No (vii) No (viii) No (ix) No (x) No (xi) No (xii) No (xiii) No (xiv) No (xv) No (xvi) No (xvii) No (xviii) No (xix) No (xx) No (xxi) No (xxii) No (xxiii) No (xxiv) No (xxv) No (i) No (ii) No (iii) No (iv) No (v) No (vi) No (vii) No (viii) No (ix) No (x) No (xi) No (xii) No (xiii) No (xiv) No (xv) No (xvi) No (xvii) No (xviii) No (xix) No (xx) No (xxi) No (xxii) No (xxiii) No (xxiv) No (xxv) No (i) CANADA (ii) CANADA (iii) CANADA (iv) BRITISH COLUMBIA (v) CANADA (vi) CANADA (vii) DELAWARE (viii) DELAWARE (ix) CONNECTICUT (x) DELAWARE (xi) DELAWARE (xii) NEW JERSEY (xiii) UNITED KINGDOM (xiv) UNITED KINGDOM (xv) UNITED KINGDOM (xvi) BERMUDA (xvii) CANADA (xviii) BERMUDA (xix) BERMUDA (xx) BERMUDA (xxi) BERMUDA (xxii) DELAWARE (xxviii) NEW HAMPSHIRE (xxiv) DELAWARE (xxv) DELAWARE The source of funds for the purchase of the Class A Shares beneficially owned by the Reporting Persons was cash on hand from existing investment portfolios. The Reporting Persons acquired the Class A Shares for investment purposes. One or more entities affiliated with Fairfax, including one or more of the Reporting Persons, may determine to purchase additional securities of Under Armour, Inc. in the open market or otherwise, depending upon price, market conditions, availability of funds, evaluation of alternative investments and other factors. While none of the Reporting Persons has any present plans to sell any Shares or other securities of Under Armour, Inc., one or more of them could determine, based upon the same set of factors listed above with respect to purchases, to sell some or all of such securities. The Reporting Persons have no present intention to effect any of the transactions specified in Item 4 of Schedule 13D. Based on the most recent information available, the aggregate number and percentage of Shares (the securities identified by Item 1 of this Schedule 13D) that are beneficially owned by each of the Reporting Persons is set forth in boxes 11 and 13 of this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference. The percentage of Class A Shares beneficially owned by each of the Reporting Persons was calculated based on 188,834,386 Class A Shares outstanding as of October 31, 2025, as reported by Under Armour, Inc. The numbers of Class A 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 7, 8, 9 and 10, respectively, on the second part of the cover page to this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference. Except as described in Exhibit 99.2, none of the Reporting Persons, nor, to the best knowledge of the Reporting Persons, any person listed in Exhibit 99.1 for each of the Reporting Persons, beneficially owns, or has acquired or disposed of, any Class A Shares during the last 60 days. No person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of Class A Shares held by the Reporting Persons other than each of the Reporting Persons. Not applicable. None. Exhibit 99.1 Directors and Officers of the Reporting Persons Exhibit 99.2 Transactions in the Class A Shares of the Issuer by the Reporting Persons During the Last Sixty (60) Days Exhibit 99.3 Joint Filing Agreement dated as of January 5, 2026 among the Reporting Persons V. PREM WATSA /s/ V. Prem Watsa V. Prem Watsa 01/05/2026 THE SECOND 810 HOLDCO LTD. /s/ V. Prem Watsa V. Prem Watsa, Director 01/05/2026 THE SECOND 1109 HOLDCO LTD. /s/ V. Prem Watsa V. Prem Watsa, President 01/05/2026 THE SIXTY TWO INVESTMENT COMPANY LIMITED /s/ V. Prem Watsa V. Prem Watsa, President 01/05/2026 FAIRFAX FINANCIAL HOLDINGS LIMITED /s/ Peter Clarke Peter Clarke, President and Chief Operating Officer 01/05/2026 FFHL GROUP LTD. /s/ V. Prem Watsa V. Prem Watsa, President 01/05/2026 FAIRFAX (US) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ODYSSEY GROUP HOLDINGS, INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ODYSSEY REINSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 CRUM & FORSTER HOLDINGS CORP. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 UNITED STATES FIRE INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 THE NORTH RIVER INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 FAIRFAX UK HOLDINGS LIMITED /s/ Gavin Wilkinson Gavin Wilkinson, Group Chief Financial Officer 01/05/2026 BRIT GROUP HOLDINGS LIMITED /s/ Gavin Wilkinson Gavin Wilkinson, Group Chief Financial Officer 01/05/2026 BRIT INSURANCE HOLDINGS LIMITED /s/ Gavin Wilkinson Gavin Wilkinson, Group Chief Financial Officer 01/05/2026 BRIT REINSURANCE (BERMUDA) LIMITED /s/ Gavin Wilkinson Gavin Wilkinson, Group Chief Financial Officer 01/05/2026 1102952 B.C. UNLIMITED LIABILITY COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ALLIED WORLD ASSURANCE COMPANY, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ALLIED WORLD INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 AW UNDERWRITERS INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 ALLIED WORLD SPECIALTY INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 01/05/2026 Power of attorney, dated March 9, 2020 (incorporated by reference to Exhibit 8 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on March 9, 2020). Power of attorney, dated June 14, 2021 (incorporated by reference to Exhibit 5 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on June 14, 2021).