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 |
Navient
NAVI
|
+$15.1M |
| 2 |
BlackBerry
BB
|
+$9.62M |
| 3 |
Citigroup
C
|
+$7.24M |
| 4 |
BP
BP
|
+$2.35M |
| 5 |
STL
Sterling Bancorp
STL
|
+$716K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Patterson-UTI
PTEN
|
+$13.6M |
| 2 |
Old Republic International
ORI
|
+$7.74M |
| 3 |
New York Times
NYT
|
+$4.01M |
| 4 |
FLG
Flagstar Bank National Association
FLG
|
+$835K |
| 5 |
Merck
MRK
|
+$477K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 32.2% |
| 2 | Healthcare | 24.7% |
| 3 | Energy | 11.99% |
| 4 | Communication Services | 10.67% |
| 5 | Technology | 5.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
New York Times
NYT
$10.6B
| $68.6M | 9.98% |
4,511,896
-257,065
| -5% | -$4.01M |
|
|
2
Citigroup
C
$221B
| $65.2M | 9.49% |
1,385,144
+152,270
| +12% | +$7.24M |
|
|
3
Merck
MRK
$376B
| $64.8M | 9.43% |
1,173,838
-8,741
| -0.7% | -$477K |
|
4
Pfizer
PFE
$160B
| $62.2M | 9.04% |
2,239,211
+12,300
| +0.6% | +$351K |
|
|
FLG
5
Flagstar Bank National Association
FLG
$5.59B
| $59.5M | 8.66% |
1,241,721
-17,799
| -1% | -$835K |
|
|
6
BP
BP
$115B
| $47.8M | 6.96% |
1,108,135
+56,922
| +5% | +$2.35M |
|
|
HOLX
7
DELISTED
Hologic
HOLX
| $39.1M | 5.69% |
1,541,729
-15,250
| -1% | -$356K |
|
|
8
Old Republic International
ORI
$10B
| $34.5M | 5.02% |
2,265,645
-463,796
| -17% | -$7.74M |
|
9
Seaboard Corp
SEB
$4.08B
| $34.3M | 4.99% |
11,360
-153
| -1% | -$409K |
|
|
10
Patterson-UTI
PTEN
$4.71B
| $31.6M | 4.59% |
903,754
-414,838
| -31% | -$13.6M |
|
|
NTP
11
DELISTED
Nam Tai Property Inc.
NTP
| $28.5M | 4.14% |
3,774,517
-1,386
| -0% | -$10K |
|
12
MBIA
MBI
$250M
| $27.9M | 4.05% |
2,522,739
-18,500
| -0.7% | -$228K |
|
|
VOXX
13
DELISTED
VOXX International Corporation Class A
VOXX
| $19.4M | 2.83% |
2,063,944
-19,350
| -0.9% | -$202K |
|
|
14
BlackBerry
BB
$4.71B
| $17.1M | 2.49% |
1,670,450
+1,220,450
| +271% | +$9.62M |
|
|
STL
15
DELISTED
Sterling Bancorp
STL
| $16.8M | 2.44% |
1,396,823
+60,452
| +5% | +$716K |
|
|
16
Navient
NAVI
$886M
| $16.2M | 2.35% |
+912,085
| New | +$15.1M |
|
|
STRP
17
DELISTED
Straight Path Communications Inc.
STRP
| $3.41M | 0.5% |
334,084
-2,190
| -0.7% | -$18.1K |
|
18
Novartis
NVS
$302B
| $2.39M | 0.35% |
29,427
-1,897
| -6% | -$149K |
|
19
ExxonMobil
XOM
$679B
| $1.78M | 0.26% |
17,684
-528
| -3% | -$53.3K |
|
20
Bristol-Myers Squibb
BMY
$137B
| $1.34M | 0.2% |
27,650
-2,000
| -7% | -$98.6K |
|
21
Comcast
CMCSA
$95.3B
| $1.3M | 0.19% |
48,506
-482
| -1% | -$12.4K |
|
|
PHELK
22
DELISTED
PETE HELICOPTERS NON VTG
PHELK
| $1.26M | 0.18% |
28,280
| – | – |
|
|
FNFG
23
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
| $1.21M | 0.18% |
138,084
-8,105
| -6% | -$71.7K |
|
24
Bank of America
BAC
$431B
| $852K | 0.12% |
55,463
-1,558
| -3% | -$24.2K |
|
25
Chevron
CVX
$403B
| $834K | 0.12% |
6,388
-400
| -6% | -$49.8K |
|
Similar funds
Kahn Brothers's Q2 2014 Portfolio in Review
As of Q2 2014, Kahn Brothers held 43 positions worth $687M, down 1.9% from $701M the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Trading was light in Q2 2014: portfolio turnover was 2.3%. Kahn Brothers opened 1 new position and made no exits, leaving the 43-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 31% a quarter earlier, followed by Healthcare and Energy.
- Kahn Brothers's largest Q2 2014 buy was Navient: 912,085 shares worth $16.2M.
- Kahn Brothers added most to BlackBerry in Q2 2014, an estimated $9.62M increase.
- Kahn Brothers's biggest Q2 2014 reduction was Patterson-UTI, cutting an estimated $13.6M.
- Kahn Brothers's ten largest holdings make up 74% of its $687M portfolio in Q2 2014.
- Kahn Brothers opened 1 new position and closed 0 in Q2 2014.
- Kahn Brothers's portfolio value fell 1.9% quarter-over-quarter to $687M.
Based on Kahn Brothers Group's 13F filing for Q2 2014, filed 6 Aug 2014.