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 |
MBIA
MBI
|
+$6.58M |
| 2 |
BP
BP
|
+$3.96M |
| 3 |
NTP
Nam Tai Property Inc.
NTP
|
+$3.74M |
| 4 |
BlackBerry
BB
|
+$2.29M |
| 5 |
Patterson-UTI
PTEN
|
+$1.09M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FLG
Flagstar Bank National Association
FLG
|
+$5.23M |
| 2 |
Old Republic International
ORI
|
+$4.31M |
| 3 |
Pfizer
PFE
|
+$3.51M |
| 4 |
Navient
NAVI
|
+$1.92M |
| 5 |
HOLX
Hologic
HOLX
|
+$706K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 30.58% |
| 2 | Healthcare | 29.44% |
| 3 | Communication Services | 10.58% |
| 4 | Energy | 8.77% |
| 5 | Technology | 6.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Citigroup
C
$221B
| $55.7M | 10.32% |
1,123,525
-3,440
| -0.3% | -$188K |
|
|
HOLX
2
DELISTED
Hologic
HOLX
| $52.5M | 9.72% |
1,342,012
-17,800
| -1% | -$706K |
|
|
3
Pfizer
PFE
$160B
| $52.5M | 9.72% |
1,761,275
-109,443
| -6% | -$3.51M |
|
|
FLG
4
Flagstar Bank National Association
FLG
$5.59B
| $50M | 9.26% |
923,683
-96,392
| -9% | -$5.23M |
|
5
Merck
MRK
$376B
| $49.7M | 9.2% |
1,054,506
-10,904
| -1% | -$579K |
|
6
New York Times
NYT
$10.6B
| $46.5M | 8.6% |
3,934,982
-8,850
| -0.2% | -$112K |
|
|
7
BP
BP
$115B
| $31.4M | 5.8% |
1,219,280
+134,984
| +12% | +$3.96M |
|
|
8
MBIA
MBI
$250M
| $27.3M | 5.05% |
4,485,956
+1,024,600
| +30% | +$6.58M |
|
9
Seaboard Corp
SEB
$4.08B
| $27M | 4.99% |
8,759
| – | – |
|
|
10
BlackBerry
BB
$4.71B
| $22.1M | 4.1% |
3,609,402
+306,725
| +9% | +$2.29M |
|
|
NTP
11
DELISTED
Nam Tai Property Inc.
NTP
| $22M | 4.08% |
3,613,582
+697,377
| +24% | +$3.74M |
|
|
STL
12
DELISTED
Sterling Bancorp
STL
| $15.7M | 2.91% |
1,058,445
-2,382
| -0.2% | -$34.5K |
|
|
13
Patterson-UTI
PTEN
$4.71B
| $14.3M | 2.65% |
1,088,571
+68,680
| +7% | +$1.09M |
|
|
14
Old Republic International
ORI
$10B
| $13.2M | 2.45% |
845,861
-269,296
| -24% | -$4.31M |
|
|
VOXX
15
DELISTED
VOXX International Corporation Class A
VOXX
| $12M | 2.22% |
1,616,520
+82,600
| +5% | +$652K |
|
|
STRP
16
DELISTED
Straight Path Communications Inc.
STRP
| $9.5M | 1.76% |
235,111
-4,673
| -2% | -$135K |
|
17
Novartis
NVS
$302B
| $2.62M | 0.49% |
31,854
+446
| +1% | +$39.7K |
|
|
18
Navient
NAVI
$886M
| $2.29M | 0.42% |
204,161
-131,373
| -39% | -$1.92M |
|
19
Bristol-Myers Squibb
BMY
$137B
| $1.7M | 0.32% |
28,800
| – | – |
|
|
FNFG
20
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
| $1.33M | 0.25% |
130,553
-1,780
| -1% | -$16.9K |
|
21
ExxonMobil
XOM
$679B
| $1.31M | 0.24% |
17,684
| – | – |
|
22
Comcast
CMCSA
$95.3B
| $1.18M | 0.22% |
41,524
-2,400
| -5% | -$71.3K |
|
23
IBM
IBM
$222B
| $1.04M | 0.19% |
7,487
| – | – |
|
24
Bank of America
BAC
$431B
| $685K | 0.13% |
43,996
-3,106
| -7% | -$52.3K |
|
25
Chevron
CVX
$403B
| $386K | 0.07% |
4,888
| – | – |
|
Similar funds
Kahn Brothers's Q3 2015 Portfolio in Review
As of Q3 2015, Kahn Brothers held 41 positions worth $540M, down 8.9% from $593M the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Kahn Brothers's Q3 2015 filing shows 1 new, 8 increased, 20 reduced and 3 closed positions. The largest sale was Flagstar Bank National Association, an estimated $5.23M.
By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 30% a quarter earlier, followed by Healthcare and Communication Services.
- Kahn Brothers added most to MBIA in Q3 2015, an estimated $6.58M increase.
- Kahn Brothers's biggest Q3 2015 reduction was Flagstar Bank National Association, cutting an estimated $5.23M.
- Kahn Brothers fully exited NewMarket in Q3 2015, selling an estimated $386K.
- Kahn Brothers's ten largest holdings make up 77% of its $540M portfolio in Q3 2015.
- Kahn Brothers opened 1 new position and closed 3 in Q3 2015.
- Kahn Brothers's portfolio value fell 8.9% quarter-over-quarter to $540M.
Based on Kahn Brothers Group's 13F filing for Q3 2015, filed 9 Nov 2015.