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 |
BP
BP
|
+$17.3M |
| 2 |
BlackBerry
BB
|
+$3.79M |
| 3 |
FLG
Flagstar Bank National Association
FLG
|
+$2.11M |
| 4 |
STRP
Straight Path Communications Inc.
STRP
|
+$1.74M |
| 5 |
Citigroup
C
|
+$747K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Seaboard Corp
SEB
|
+$1.73M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$1.19M |
| 3 |
FFIC
Flushing Financial
FFIC
|
+$972K |
| 4 |
Pfizer
PFE
|
+$964K |
| 5 |
DCOM
Dime Community Bancshares
DCOM
|
+$899K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.94% |
| 2 | Healthcare | 24.17% |
| 3 | Communication Services | 10.37% |
| 4 | Energy | 9.52% |
| 5 | Consumer Staples | 5.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Pfizer
PFE
$160B
| $72M | 10.48% |
2,643,434
-35,436
| -1% | -$964K |
|
2
New York Times
NYT
$10.6B
| $68.4M | 9.95% |
5,439,858
+54,050
| +1% | +$640K |
|
|
3
Citigroup
C
$221B
| $66.7M | 9.7% |
1,374,973
+14,770
| +1% | +$747K |
|
|
FLG
4
Flagstar Bank National Association
FLG
$5.59B
| $62.7M | 9.12% |
1,382,429
+47,017
| +4% | +$2.11M |
|
5
Merck
MRK
$376B
| $58.5M | 8.51% |
1,287,503
+13,492
| +1% | +$616K |
|
6
Old Republic International
ORI
$10B
| $52.7M | 7.67% |
3,424,928
+12,411
| +0.4% | +$178K |
|
7
Patterson-UTI
PTEN
$4.71B
| $42.1M | 6.13% |
1,970,480
+30,600
| +2% | +$628K |
|
|
8
Seaboard Corp
SEB
$4.08B
| $36.8M | 5.35% |
13,386
-618
| -4% | -$1.73M |
|
|
VOXX
9
DELISTED
VOXX International Corporation Class A
VOXX
| $32M | 4.66% |
2,337,092
-300
| -0% | -$3.98K |
|
|
HOLX
10
DELISTED
Hologic
HOLX
| $32M | 4.66% |
1,549,770
+7,900
| +0.5% | +$168K |
|
11
MBIA
MBI
$250M
| $30.5M | 4.44% |
2,984,780
+17,430
| +0.6% | +$219K |
|
|
12
BP
BP
$115B
| $20.6M | 2.99% |
598,137
+504,612
| +540% | +$17.3M |
|
|
NTP
13
DELISTED
Nam Tai Property Inc.
NTP
| $20.1M | 2.93% |
3,747,667
+10,750
| +0.3% | +$80.3K |
|
|
STL
14
DELISTED
Sterling Bancorp
STL
| $12.4M | 1.8% |
1,139,040
| – | – |
|
15
Astec Industries
ASTE
$1B
| $4.53M | 0.66% |
126,000
| – | – |
|
|
USG
16
DELISTED
Usg
USG
| $3.43M | 0.5% |
120,000
| – | – |
|
|
17
BlackBerry
BB
$4.71B
| $3.1M | 0.45% |
+390,000
| New | +$3.79M |
|
18
Novartis
NVS
$302B
| $2.25M | 0.33% |
32,775
-1,116
| -3% | -$73.8K |
|
|
STRP
19
DELISTED
Straight Path Communications Inc.
STRP
| $1.77M | 0.26% |
+335,713
| New | +$1.74M |
|
20
ExxonMobil
XOM
$679B
| $1.54M | 0.22% |
17,934
| – | – |
|
|
FNFG
21
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
| $1.33M | 0.19% |
150,382
-18,250
| -11% | -$190K |
|
|
22
Bristol-Myers Squibb
BMY
$137B
| $1.31M | 0.19% |
28,300
-27,133
| -49% | -$1.19M |
|
23
Comcast
CMCSA
$95.3B
| $1.12M | 0.16% |
49,848
-720
| -1% | -$15.7K |
|
|
PHELK
24
DELISTED
PETE HELICOPTERS NON VTG
PHELK
| $1.07M | 0.16% |
28,280
-1,500
| -5% | -$56.6K |
|
25
Chevron
CVX
$403B
| $861K | 0.13% |
7,088
-880
| -11% | -$108K |
|
Similar funds
Kahn Brothers's Q3 2013 Portfolio in Review
As of Q3 2013, Kahn Brothers held 49 positions worth $687M, up 6.1% from $648M the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Kahn Brothers's Q3 2013 filing shows 2 new, 12 increased, 16 reduced and 5 closed positions. Its largest new stake was BlackBerry: 390,000 shares worth $3.1M. The largest sale was Seaboard Corp, an estimated $1.73M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 34% a quarter earlier, followed by Healthcare and Communication Services.
- Kahn Brothers's largest Q3 2013 buy was BlackBerry: 390,000 shares worth $3.1M.
- Kahn Brothers added most to BP in Q3 2013, an estimated $17.3M increase.
- Kahn Brothers's biggest Q3 2013 reduction was Seaboard Corp, cutting an estimated $1.73M.
- Kahn Brothers fully exited Dime Community Bancshares in Q3 2013, selling an estimated $899K.
- Kahn Brothers's ten largest holdings make up 76% of its $687M portfolio in Q3 2013.
- Kahn Brothers opened 2 new positions and closed 5 in Q3 2013.
- Kahn Brothers's portfolio value rose 6.1% quarter-over-quarter to $687M.
Based on Kahn Brothers Group's 13F filing for Q3 2013, filed 6 Nov 2013.