Kahn Brothers Kahn Brothers Group
Kahn Brothers Group is a value investment firm founded in the tradition of Benjamin Graham and long associated with the Kahn family of investors. The firm is known for deep-value security analysis, patience, and a multi-decade orientation to intrinsic value. Its filings are followed by classic value investors seeking Graham-and-Dodd style managers still active in public markets.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SEG
Seaport Entertainment Group
SEG
|
+$13.7M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$13.4M |
| 3 |
MBIA
MBI
|
+$6.53M |
| 4 |
Organon & Co
OGN
|
+$1.24M |
| 5 |
BAY
BAYER AG SPONS ADR
BAY
|
+$484K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSK
GSK
|
+$15.6M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$13M |
| 3 |
Merck
MRK
|
+$4.67M |
| 4 |
Assured Guaranty
AGO
|
+$3.44M |
| 5 |
Seaboard Corp
SEB
|
+$3.13M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 32.96% |
| 2 | Financials | 28.97% |
| 3 | Communication Services | 18.62% |
| 4 | Energy | 9.49% |
| 5 | Consumer Staples | 5.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Haleon
HLN
$44B
| $610K | 0.11% |
68,027
-50,410
| -43% | -$486K |
|
27
Antero Resources
AR
$11.7B
| $599K | 0.11% |
17,842
-7,064
| -28% | -$235K |
|
28
Bank of America
BAC
$431B
| $574K | 0.11% |
11,126
-761
| -6% | -$37.1K |
|
29
SEI Investments
SEIC
$13.1B
| $560K | 0.11% |
6,596
| – | – |
|
30
IBM
IBM
$222B
| $425K | 0.08% |
1,508
| – | – |
|
31
American Express
AXP
$227B
| $382K | 0.07% |
+1,150
| New | +$366K |
|
32
Antero Midstream
AM
$10.5B
| $367K | 0.07% |
18,856
| – | – |
|
33
Deutsche Bank
DB
$71.1B
| $354K | 0.07% |
10,000
| – | – |
|
34
NVIDIA
NVDA
$5.2T
| $325K | 0.06% |
+1,740
| New | +$303K |
|
35
Verizon
VZ
$205B
| $318K | 0.06% |
7,237
-478
| -6% | -$20.7K |
|
36
Chevron
CVX
$403B
| $311K | 0.06% |
2,003
-50
| -2% | -$7.74K |
|
37
Public Service Enterprise Group
PEG
$36.2B
| $302K | 0.06% |
3,624
| – | – |
|
38
PNC Financial Services
PNC
$97B
| $293K | 0.06% |
1,457
-40
| -3% | -$7.91K |
|
39
Procter & Gamble
PG
$336B
| $271K | 0.05% |
1,767
| – | – |
|
40
Navient
NAVI
$886M
| $271K | 0.05% |
20,600
| – | – |
|
41
Blackstone
BX
$108B
| $256K | 0.05% |
1,500
| – | – |
|
42
PepsiCo
PEP
$196B
| $253K | 0.05% |
1,800
| – | – |
|
43
Zedge
ZDGE
$38M
| $241K | 0.05% |
82,904
-1,877
| -2% | -$6.65K |
|
44
Brookfield
BN
$93.1B
| $232K | 0.04% |
+5,070
| New | +$225K |
|
|
45
Assured Guaranty
AGO
$3.27B
| $219K | 0.04% |
2,590
-41,396
| -94% | -$3.44M |
|
46
Rafael Holdings
RFL
$112M
| $216K | 0.04% |
158,674
-2,358
| -1% | -$3.97K |
|
47
Orange County Bancorp
OBT
$509M
| $202K | 0.04% |
8,000
| – | – |
|
48
Comcast
CMCSA
$95.3B
| $200K | 0.04% |
6,380
| – | – |
|
49
American International
AIG
$39.8B
| – | – |
-2,349
| Closed | -$201K |
|
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Kahn Brothers's Q3 2025 Portfolio in Review
As of Q3 2025, Kahn Brothers held 55 positions worth $532M, up 6.8% from $498M the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Kahn Brothers's Q3 2025 filing shows 5 new, 5 increased, 27 reduced and 2 closed positions. Its largest new stake was Seaport Entertainment Group: 583,364 shares worth $13.4M. The largest sale was GSK, an estimated $15.6M.
By sector, the portfolio is most concentrated in Healthcare at 33% of assets, down from 39% a quarter earlier, followed by Financials and Communication Services.
- Kahn Brothers's largest Q3 2025 buy was Seaport Entertainment Group: 583,364 shares worth $13.4M.
- Kahn Brothers added most to Alphabet (Google) Class C in Q3 2025, an estimated $13.4M increase.
- Kahn Brothers's biggest Q3 2025 reduction was GSK, cutting an estimated $15.6M.
- Kahn Brothers fully exited American International in Q3 2025, selling an estimated $201K.
- Kahn Brothers's ten largest holdings make up 82% of its $532M portfolio in Q3 2025.
- Kahn Brothers opened 5 new positions and closed 2 in Q3 2025.
- Kahn Brothers's portfolio value rose 6.8% quarter-over-quarter to $532M.
Based on Kahn Brothers Group's 13F filing for Q3 2025, filed 12 Nov 2025.