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
|
+$5.86M |
| 2 |
GSK
GSK
|
+$4.36M |
| 3 |
Patterson-UTI
PTEN
|
+$2.18M |
| 4 |
MBIA
MBI
|
+$1.97M |
| 5 |
BlackBerry
BB
|
+$1.19M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
STRP
Straight Path Communications Inc.
STRP
|
+$6.94M |
| 2 |
New York Times
NYT
|
+$3.82M |
| 3 |
Citigroup
C
|
+$1.69M |
| 4 |
HOLX
Hologic
HOLX
|
+$1.6M |
| 5 |
NTP
Nam Tai Property Inc.
NTP
|
+$1.59M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 30.14% |
| 2 | Healthcare | 22.81% |
| 3 | Energy | 14.62% |
| 4 | Technology | 11.28% |
| 5 | Communication Services | 9.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Citigroup
C
$221B
| $73.1M | 11.48% |
981,898
-22,857
| -2% | -$1.69M |
|
2
BP
BP
$115B
| $59.1M | 9.29% |
1,537,126
-23,868
| -2% | -$865K |
|
|
3
New York Times
NYT
$10.6B
| $53.8M | 8.45% |
2,907,446
-205,771
| -7% | -$3.82M |
|
4
Merck
MRK
$376B
| $51.7M | 8.13% |
963,331
+502
| +0.1% | +$27.8K |
|
|
5
BlackBerry
BB
$4.71B
| $50.8M | 7.98% |
4,548,910
+108,800
| +2% | +$1.19M |
|
|
6
GSK
GSK
$105B
| $40.4M | 6.35% |
911,330
+94,422
| +12% | +$4.36M |
|
|
7
Assured Guaranty
AGO
$3.27B
| $36M | 5.65% |
1,062,549
+161,714
| +18% | +$5.86M |
|
8
Seaboard Corp
SEB
$4.08B
| $34.6M | 5.43% |
7,839
-50
| -0.6% | -$217K |
|
|
9
MBIA
MBI
$250M
| $33.6M | 5.28% |
4,590,028
+253,534
| +6% | +$1.97M |
|
|
10
Patterson-UTI
PTEN
$4.71B
| $32M | 5.03% |
1,392,012
+105,121
| +8% | +$2.18M |
|
|
HOLX
11
DELISTED
Hologic
HOLX
| $29.6M | 4.64% |
691,667
-40,149
| -5% | -$1.6M |
|
|
FLG
12
Flagstar Bank National Association
FLG
$5.59B
| $24.7M | 3.89% |
633,462
-17,727
| -3% | -$686K |
|
|
NTP
13
DELISTED
Nam Tai Property Inc.
NTP
| $23.3M | 3.66% |
1,855,255
-130,425
| -7% | -$1.59M |
|
|
STL
14
DELISTED
Sterling Bancorp
STL
| $21.9M | 3.45% |
891,749
-30,091
| -3% | -$745K |
|
|
VOXX
15
DELISTED
VOXX International Corporation Class A
VOXX
| $20.6M | 3.24% |
3,678,225
+26,323
| +0.7% | +$172K |
|
16
Pfizer
PFE
$160B
| $20.1M | 3.16% |
584,555
-3,045
| -0.5% | -$104K |
|
|
TPHS
17
DELISTED
Trinity Place Holdings Inc.com
TPHS
| $6.73M | 1.06% |
968,129
| – | – |
|
|
STRP
18
DELISTED
Straight Path Communications Inc.
STRP
| $3.26M | 0.51% |
17,950
-38,218
| -68% | -$6.94M |
|
19
Novartis
NVS
$302B
| $2.23M | 0.35% |
29,697
+520
| +2% | +$39.2K |
|
20
ExxonMobil
XOM
$679B
| $1.42M | 0.22% |
17,034
+250
| +1% | +$20.7K |
|
21
Bristol-Myers Squibb
BMY
$137B
| $1.17M | 0.18% |
19,050
| – | – |
|
22
Old Republic International
ORI
$10B
| $1.03M | 0.16% |
48,000
| – | – |
|
23
Bank of America
BAC
$431B
| $815K | 0.13% |
27,623
+7,333
| +36% | +$202K |
|
24
Navient
NAVI
$886M
| $711K | 0.11% |
53,316
+1,333
| +3% | +$16.8K |
|
25
Chevron
CVX
$403B
| $507K | 0.08% |
4,048
| – | – |
|
Similar funds
Kahn Brothers's Q4 2017 Portfolio in Review
As of Q4 2017, Kahn Brothers held 34 positions worth $637M, down 2.7% from $655M the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Kahn Brothers's Q4 2017 filing shows 14 increased, 12 reduced and 3 closed positions. The largest sale was Straight Path Communications Inc., an estimated $6.94M.
By sector, the portfolio is most concentrated in Financials at 30% of assets, up from 30% a quarter earlier, followed by Healthcare and Energy.
- Kahn Brothers added most to Assured Guaranty in Q4 2017, an estimated $5.86M increase.
- Kahn Brothers's biggest Q4 2017 reduction was Straight Path Communications Inc., cutting an estimated $6.94M.
- Kahn Brothers fully exited Astoria Financial Corporation in Q4 2017, selling an estimated $240K.
- Kahn Brothers's ten largest holdings make up 73% of its $637M portfolio in Q4 2017.
- Kahn Brothers opened 0 new positions and closed 3 in Q4 2017.
- Kahn Brothers's portfolio value fell 2.7% quarter-over-quarter to $637M.
Based on Kahn Brothers Group's 13F filing for Q4 2017, filed 25 Jan 2018.