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 |
BlackBerry
BB
|
+$5.22M |
| 2 |
BP
BP
|
+$1.55M |
| 3 |
Patterson-UTI
PTEN
|
+$1.53M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Navient
NAVI
|
+$4.99M |
| 2 |
Seaboard Corp
SEB
|
+$3.46M |
| 3 |
Citigroup
C
|
+$3.03M |
| 4 |
STL
Sterling Bancorp
STL
|
+$2.87M |
| 5 |
Pfizer
PFE
|
+$2.42M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.53% |
| 2 | Healthcare | 29.15% |
| 3 | Communication Services | 10.38% |
| 4 | Energy | 9.52% |
| 5 | Consumer Staples | 6.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Pfizer
PFE
$160B
| $63M | 10.64% |
1,908,811
-76,100
| -4% | -$2.42M |
|
2
Merck
MRK
$376B
| $59.2M | 10% |
1,079,246
-24,096
| -2% | -$1.36M |
|
|
3
Citigroup
C
$221B
| $58.3M | 9.84% |
1,131,041
-59,421
| -5% | -$3.03M |
|
4
New York Times
NYT
$10.6B
| $55.1M | 9.3% |
4,002,423
-128,950
| -3% | -$1.73M |
|
|
FLG
5
Flagstar Bank National Association
FLG
$5.59B
| $54.2M | 9.15% |
1,079,705
-46,589
| -4% | -$2.27M |
|
|
HOLX
6
DELISTED
Hologic
HOLX
| $45.5M | 7.69% |
1,377,802
-42,640
| -3% | -$1.31M |
|
|
7
Seaboard Corp
SEB
$4.08B
| $37M | 6.24% |
8,948
-863
| -9% | -$3.46M |
|
|
8
BP
BP
$115B
| $35.5M | 5.99% |
1,092,995
+47,464
| +5% | +$1.55M |
|
9
Old Republic International
ORI
$10B
| $28M | 4.73% |
1,873,882
-89,333
| -5% | -$1.31M |
|
|
10
BlackBerry
BB
$4.71B
| $21.1M | 3.56% |
2,359,528
+513,518
| +28% | +$5.22M |
|
|
11
Patterson-UTI
PTEN
$4.71B
| $18.4M | 3.11% |
979,823
+89,214
| +10% | +$1.53M |
|
12
MBIA
MBI
$250M
| $18.2M | 3.08% |
1,961,392
-20,450
| -1% | -$182K |
|
|
STL
13
DELISTED
Sterling Bancorp
STL
| $14.4M | 2.43% |
1,072,309
-211,275
| -16% | -$2.87M |
|
|
VOXX
14
DELISTED
VOXX International Corporation Class A
VOXX
| $14.3M | 2.42% |
1,561,046
-142,213
| -8% | -$1.21M |
|
|
15
Navient
NAVI
$886M
| $12.3M | 2.08% |
606,580
-242,903
| -29% | -$4.99M |
|
|
NTP
16
DELISTED
Nam Tai Property Inc.
NTP
| $11.6M | 1.95% |
2,914,901
-28,121
| -1% | -$127K |
|
|
STRP
17
DELISTED
Straight Path Communications Inc.
STRP
| $4.98M | 0.84% |
250,172
-16,432
| -6% | -$312K |
|
18
Novartis
NVS
$302B
| $3.05M | 0.52% |
34,560
| – | – |
|
19
Bristol-Myers Squibb
BMY
$137B
| $1.83M | 0.31% |
28,400
| – | – |
|
20
ExxonMobil
XOM
$679B
| $1.5M | 0.25% |
17,684
| – | – |
|
21
Comcast
CMCSA
$95.3B
| $1.38M | 0.23% |
49,020
-1,974
| -4% | -$56.8K |
|
|
FNFG
22
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
| $1.17M | 0.2% |
132,333
-1,712
| -1% | -$14.6K |
|
23
IBM
IBM
$222B
| $1.15M | 0.19% |
7,487
| – | – |
|
24
Bank of America
BAC
$431B
| $768K | 0.13% |
49,877
-1,220
| -2% | -$19.6K |
|
25
Chevron
CVX
$403B
| $629K | 0.11% |
5,988
| – | – |
|
Similar funds
Kahn Brothers's Q1 2015 Portfolio in Review
As of Q1 2015, Kahn Brothers held 44 positions worth $592M, up 2% from $580M the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Kahn Brothers withdrew a net $25.6M in Q1 2015, closing 2 positions and reducing 27 holdings. Its most notable exit was Usg, an estimated $532K position sold in full.
By sector, the portfolio is most concentrated in Financials at 32% of assets, down from 35% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Kahn Brothers added an estimated $5.22M to BlackBerry.
- Kahn Brothers added most to BlackBerry in Q1 2015, an estimated $5.22M increase.
- Kahn Brothers's biggest Q1 2015 reduction was Navient, cutting an estimated $4.99M.
- Kahn Brothers fully exited Usg in Q1 2015, selling an estimated $532K.
- Kahn Brothers's ten largest holdings make up 77% of its $592M portfolio in Q1 2015.
- Kahn Brothers opened 0 new positions and closed 2 in Q1 2015.
- Kahn Brothers's portfolio value rose 2% quarter-over-quarter to $592M.
Based on Kahn Brothers Group's 13F filing for Q1 2015, filed 6 May 2015.