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
|
+$4.92M |
| 2 |
BlackBerry
BB
|
+$1.46M |
| 3 |
Citigroup
C
|
+$600K |
| 4 |
VOXX
VOXX International Corporation Class A
VOXX
|
+$100K |
| 5 |
Bristol-Myers Squibb
BMY
|
+$33.6K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Old Republic International
ORI
|
+$10.6M |
| 2 |
Pfizer
PFE
|
+$3.83M |
| 3 |
Merck
MRK
|
+$1.31M |
| 4 |
HOLX
Hologic
HOLX
|
+$829K |
| 5 |
FNFG
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
|
+$680K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 28.59% |
| 2 | Healthcare | 27.06% |
| 3 | Energy | 10.97% |
| 4 | Communication Services | 10.72% |
| 5 | Technology | 7.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Merck
MRK
$376B
| $52.1M | 9.77% |
1,032,719
-26,732
| -3% | -$1.31M |
|
2
New York Times
NYT
$10.6B
| $48.4M | 9.07% |
3,887,388
-38,967
| -1% | -$494K |
|
|
3
Citigroup
C
$221B
| $47.5M | 8.9% |
1,138,440
+14,355
| +1% | +$600K |
|
|
HOLX
4
DELISTED
Hologic
HOLX
| $45.8M | 8.57% |
1,326,484
-23,767
| -2% | -$829K |
|
|
FLG
5
Flagstar Bank National Association
FLG
$5.59B
| $43.2M | 8.08% |
904,706
-13,170
| -1% | -$610K |
|
|
6
Pfizer
PFE
$160B
| $42.8M | 8.01% |
1,520,440
-134,206
| -8% | -$3.83M |
|
7
MBIA
MBI
$250M
| $38.8M | 7.28% |
4,389,307
-19,917
| -0.5% | -$145K |
|
|
8
BP
BP
$115B
| $37.9M | 7.09% |
1,490,696
+195,144
| +15% | +$4.92M |
|
|
9
BlackBerry
BB
$4.71B
| $32.3M | 6.05% |
3,995,360
+194,008
| +5% | +$1.46M |
|
10
Seaboard Corp
SEB
$4.08B
| $28.4M | 5.32% |
9,459
-50
| -0.5% | -$140K |
|
|
NTP
11
DELISTED
Nam Tai Property Inc.
NTP
| $22.3M | 4.18% |
3,635,719
-9,490
| -0.3% | -$52.5K |
|
12
Patterson-UTI
PTEN
$4.71B
| $18.8M | 3.52% |
1,067,461
-2,380
| -0.2% | -$35.5K |
|
|
STL
13
DELISTED
Sterling Bancorp
STL
| $16.2M | 3.03% |
1,015,361
-8,002
| -0.8% | -$121K |
|
|
VOXX
14
DELISTED
VOXX International Corporation Class A
VOXX
| $8.28M | 1.55% |
1,851,361
+22,961
| +1% | +$100K |
|
|
STRP
15
DELISTED
Straight Path Communications Inc.
STRP
| $7.55M | 1.41% |
243,254
-1,439
| -0.6% | -$35.9K |
|
|
TPHS
16
DELISTED
Trinity Place Holdings Inc.com
TPHS
| $7.35M | 1.38% |
1,064,651
| – | – |
|
|
17
Old Republic International
ORI
$10B
| $4.02M | 0.75% |
219,934
-589,158
| -73% | -$10.6M |
|
18
Navient
NAVI
$886M
| $2.24M | 0.42% |
187,471
-3,950
| -2% | -$41.1K |
|
19
Novartis
NVS
$302B
| $2M | 0.38% |
30,850
| – | – |
|
|
20
Bristol-Myers Squibb
BMY
$137B
| $1.83M | 0.34% |
28,583
+533
| +2% | +$33.6K |
|
21
ExxonMobil
XOM
$679B
| $1.46M | 0.27% |
17,434
| – | – |
|
22
Comcast
CMCSA
$95.3B
| $1.26M | 0.24% |
41,190
+100
| +0.2% | +$2.87K |
|
23
IBM
IBM
$222B
| $1.11M | 0.21% |
7,696
+209
| +3% | +$26.7K |
|
|
FNFG
24
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
| $536K | 0.1% |
55,405
-70,324
| -56% | -$680K |
|
25
Bank of America
BAC
$431B
| $526K | 0.1% |
38,942
-832
| -2% | -$11.2K |
|
Similar funds
Kahn Brothers's Q1 2016 Portfolio in Review
As of Q1 2016, Kahn Brothers held 38 positions worth $534M, down 4.6% from $560M the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Trading was light in Q1 2016: portfolio turnover was 2.6%. Kahn Brothers opened no new positions and exited 1, leaving the 38-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 29% of assets, down from 30% a quarter earlier, followed by Healthcare and Energy.
- Kahn Brothers added most to BP in Q1 2016, an estimated $4.92M increase.
- Kahn Brothers's biggest Q1 2016 reduction was Old Republic International, cutting an estimated $10.6M.
- Kahn Brothers fully exited VOLVO A B ADR-B in Q1 2016, selling an estimated $93.8K.
- Kahn Brothers's ten largest holdings make up 78% of its $534M portfolio in Q1 2016.
- Kahn Brothers opened 0 new positions and closed 1 in Q1 2016.
- Kahn Brothers's portfolio value fell 4.6% quarter-over-quarter to $534M.
Based on Kahn Brothers Group's 13F filing for Q1 2016, filed 9 May 2016.