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 |
Zedge
ZDGE
|
+$659K |
| 2 |
BlackBerry
BB
|
+$141K |
| 3 |
BP
BP
|
+$5.28K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pfizer
PFE
|
+$9.61M |
| 2 |
Old Republic International
ORI
|
+$3.19M |
| 3 |
FLG
Flagstar Bank National Association
FLG
|
+$2.46M |
| 4 |
Seaboard Corp
SEB
|
+$2.2M |
| 5 |
NTP
Nam Tai Property Inc.
NTP
|
+$2.04M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 28.04% |
| 2 | Financials | 25.92% |
| 3 | Energy | 13.37% |
| 4 | Communication Services | 10.27% |
| 5 | Technology | 6.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Merck
MRK
$376B
| $55.6M | 10.76% |
1,011,241
-21,478
| -2% | -$1.14M |
|
2
Citigroup
C
$221B
| $46.4M | 8.98% |
1,094,170
-44,270
| -4% | -$1.96M |
|
3
New York Times
NYT
$10.6B
| $45.5M | 8.81% |
3,759,388
-128,000
| -3% | -$1.57M |
|
|
4
BP
BP
$115B
| $44.5M | 8.62% |
1,490,892
+196
| +0% | +$5.28K |
|
|
HOLX
5
DELISTED
Hologic
HOLX
| $44.1M | 8.55% |
1,276,984
-49,500
| -4% | -$1.71M |
|
|
6
Pfizer
PFE
$160B
| $40.7M | 7.89% |
1,219,337
-301,103
| -20% | -$9.61M |
|
|
FLG
7
Flagstar Bank National Association
FLG
$5.59B
| $38.3M | 7.41% |
850,674
-54,032
| -6% | -$2.46M |
|
8
MBIA
MBI
$250M
| $29.7M | 5.76% |
4,355,207
-34,100
| -0.8% | -$253K |
|
|
9
BlackBerry
BB
$4.71B
| $26.9M | 5.22% |
4,015,560
+20,200
| +0.5% | +$141K |
|
|
10
Seaboard Corp
SEB
$4.08B
| $25M | 4.84% |
8,709
-750
| -8% | -$2.2M |
|
11
Patterson-UTI
PTEN
$4.71B
| $22.4M | 4.34% |
1,051,381
-16,080
| -2% | -$303K |
|
|
NTP
12
DELISTED
Nam Tai Property Inc.
NTP
| $17.7M | 3.42% |
3,289,411
-346,308
| -10% | -$2.04M |
|
|
STL
13
DELISTED
Sterling Bancorp
STL
| $15.9M | 3.09% |
1,015,361
| – | – |
|
|
TPHS
14
DELISTED
Trinity Place Holdings Inc.com
TPHS
| $8.16M | 1.58% |
1,061,651
-3,000
| -0.3% | -$22.1K |
|
|
STRP
15
DELISTED
Straight Path Communications Inc.
STRP
| $6.32M | 1.22% |
228,438
-14,816
| -6% | -$490K |
|
|
VOXX
16
DELISTED
VOXX International Corporation Class A
VOXX
| $4.86M | 0.94% |
1,741,361
-110,000
| -6% | -$409K |
|
17
Novartis
NVS
$302B
| $2.28M | 0.44% |
30,850
| – | – |
|
18
Navient
NAVI
$886M
| $2.21M | 0.43% |
185,091
-2,380
| -1% | -$30.3K |
|
19
Bristol-Myers Squibb
BMY
$137B
| $2.1M | 0.41% |
28,583
| – | – |
|
20
ExxonMobil
XOM
$679B
| $1.63M | 0.32% |
17,434
| – | – |
|
21
Comcast
CMCSA
$95.3B
| $1.25M | 0.24% |
38,420
-2,770
| -7% | -$86K |
|
22
IBM
IBM
$222B
| $1.12M | 0.22% |
7,696
| – | – |
|
|
23
Old Republic International
ORI
$10B
| $945K | 0.18% |
49,000
-170,934
| -78% | -$3.19M |
|
|
24
Zedge
ZDGE
$38M
| $696K | 0.13% |
+157,485
| New | +$659K |
|
25
Chevron
CVX
$403B
| $477K | 0.09% |
4,548
-340
| -7% | -$34.2K |
|
Similar funds
Kahn Brothers's Q2 2016 Portfolio in Review
As of Q2 2016, Kahn Brothers held 38 positions worth $517M, down 3.2% from $534M the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Kahn Brothers withdrew a net $17.7M in Q2 2016, closing 1 position and reducing 26 holdings. Its most notable exit was KeyCorp, an estimated $119K position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 28% of assets, up from 27% a quarter earlier, followed by Financials and Energy.
Against the trend, Kahn Brothers opened a new position in Zedge worth $696K.
- Kahn Brothers's largest Q2 2016 buy was Zedge: 157,485 shares worth $696K.
- Kahn Brothers added most to BlackBerry in Q2 2016, an estimated $141K increase.
- Kahn Brothers's biggest Q2 2016 reduction was Pfizer, cutting an estimated $9.61M.
- Kahn Brothers fully exited KeyCorp in Q2 2016, selling an estimated $119K.
- Kahn Brothers's ten largest holdings make up 77% of its $517M portfolio in Q2 2016.
- Kahn Brothers opened 1 new position and closed 1 in Q2 2016.
- Kahn Brothers's portfolio value fell 3.2% quarter-over-quarter to $517M.
Based on Kahn Brothers Group's 13F filing for Q2 2016, filed 9 Aug 2016.