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 |
Assured Guaranty
AGO
|
+$15.4M |
| 2 |
VOXX
VOXX International Corporation Class A
VOXX
|
+$3.46M |
| 3 |
NTP
Nam Tai Property Inc.
NTP
|
+$499K |
| 4 |
MBIA
MBI
|
+$488K |
| 5 |
GSK
GSK
|
+$174K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
STRP
Straight Path Communications Inc.
STRP
|
+$6.04M |
| 2 |
HOLX
Hologic
HOLX
|
+$5.25M |
| 3 |
New York Times
NYT
|
+$4.3M |
| 4 |
Citigroup
C
|
+$3.49M |
| 5 |
Pfizer
PFE
|
+$2.99M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.48% |
| 2 | Healthcare | 25.05% |
| 3 | Communication Services | 14.14% |
| 4 | Energy | 10.51% |
| 5 | Technology | 9.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Citigroup
C
$221B
| $68.7M | 10.47% |
1,026,581
-56,844
| -5% | -$3.49M |
|
|
2
New York Times
NYT
$10.6B
| $60.8M | 9.28% |
3,436,195
-261,233
| -7% | -$4.3M |
|
3
Merck
MRK
$376B
| $59.8M | 9.12% |
977,616
-7,629
| -0.8% | -$464K |
|
4
BP
BP
$115B
| $48.5M | 7.39% |
1,577,687
+93
| +0% | +$2.89K |
|
|
5
GSK
GSK
$105B
| $45.5M | 6.94% |
844,068
+3,272
| +0.4% | +$174K |
|
6
BlackBerry
BB
$4.71B
| $45.2M | 6.89% |
4,520,660
-5,600
| -0.1% | -$55.1K |
|
|
7
MBIA
MBI
$250M
| $42.3M | 6.45% |
4,483,598
+57,400
| +1% | +$488K |
|
|
HOLX
8
DELISTED
Hologic
HOLX
| $36.3M | 5.53% |
799,465
-118,934
| -13% | -$5.25M |
|
9
Seaboard Corp
SEB
$4.08B
| $33.1M | 5.04% |
8,277
-56
| -0.7% | -$225K |
|
|
10
Assured Guaranty
AGO
$3.27B
| $32.4M | 4.94% |
776,705
+391,575
| +102% | +$15.4M |
|
|
STRP
11
DELISTED
Straight Path Communications Inc.
STRP
| $31.1M | 4.74% |
173,186
-39,620
| -19% | -$6.04M |
|
|
FLG
12
Flagstar Bank National Association
FLG
$5.59B
| $25.8M | 3.93% |
654,297
-22,587
| -3% | -$898K |
|
|
STL
13
DELISTED
Sterling Bancorp
STL
| $21.4M | 3.26% |
918,779
-2,000
| -0.2% | -$45.8K |
|
|
14
Pfizer
PFE
$160B
| $19.4M | 2.96% |
608,807
-94,878
| -13% | -$2.99M |
|
|
VOXX
15
DELISTED
VOXX International Corporation Class A
VOXX
| $18.9M | 2.89% |
2,308,302
+544,741
| +31% | +$3.46M |
|
16
Patterson-UTI
PTEN
$4.71B
| $18.6M | 2.84% |
922,906
-10,700
| -1% | -$233K |
|
|
NTP
17
DELISTED
Nam Tai Property Inc.
NTP
| $15.8M | 2.41% |
1,979,060
+63,800
| +3% | +$499K |
|
|
TPHS
18
DELISTED
Trinity Place Holdings Inc.com
TPHS
| $7.46M | 1.14% |
1,049,050
-13,201
| -1% | -$93.7K |
|
19
Novartis
NVS
$302B
| $2.19M | 0.33% |
29,251
-1,898
| -6% | -$135K |
|
20
ExxonMobil
XOM
$679B
| $1.39M | 0.21% |
17,234
-100
| -0.6% | -$8.18K |
|
21
Navient
NAVI
$886M
| $1.21M | 0.18% |
72,738
-62,755
| -46% | -$947K |
|
22
Bristol-Myers Squibb
BMY
$137B
| $1.09M | 0.17% |
19,583
-9,000
| -31% | -$490K |
|
23
Old Republic International
ORI
$10B
| $937K | 0.14% |
48,000
| – | – |
|
24
Comcast
CMCSA
$95.3B
| $813K | 0.12% |
20,896
-6,121
| -23% | -$241K |
|
25
Bank of America
BAC
$431B
| $670K | 0.1% |
27,624
| – | – |
|
Similar funds
Kahn Brothers's Q2 2017 Portfolio in Review
As of Q2 2017, Kahn Brothers held 35 positions worth $656M, up 13% from $581M the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Trading was light in Q2 2017: portfolio turnover was 2.9%. Kahn Brothers opened no new positions and exited 1, leaving the 35-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 29% a quarter earlier, followed by Healthcare and Communication Services.
- Kahn Brothers added most to Assured Guaranty in Q2 2017, an estimated $15.4M increase.
- Kahn Brothers's biggest Q2 2017 reduction was Straight Path Communications Inc., cutting an estimated $6.04M.
- Kahn Brothers fully exited GE Aerospace in Q2 2017, selling an estimated $447K.
- Kahn Brothers's ten largest holdings make up 72% of its $656M portfolio in Q2 2017.
- Kahn Brothers opened 0 new positions and closed 1 in Q2 2017.
- Kahn Brothers's portfolio value rose 13% quarter-over-quarter to $656M.
Based on Kahn Brothers Group's 13F filing for Q2 2017, filed 8 Aug 2017.