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 |
Patterson-UTI
PTEN
|
+$2.75M |
| 2 |
VRAY
ViewRay, Inc.
VRAY
|
+$204K |
| 3 |
BP
BP
|
+$152K |
| 4 |
Navient
NAVI
|
+$139K |
| 5 |
BlackBerry
BB
|
+$42.1K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
New York Times
NYT
|
+$10.6M |
| 2 |
Citigroup
C
|
+$4.38M |
| 3 |
Assured Guaranty
AGO
|
+$2.46M |
| 4 |
MBIA
MBI
|
+$2.45M |
| 5 |
GSK
GSK
|
+$1.88M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 42.2% |
| 2 | Financials | 30.91% |
| 3 | Energy | 8.74% |
| 4 | Consumer Staples | 6.59% |
| 5 | Technology | 6.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Merck
MRK
$376B
| $76.9M | 14.07% |
1,078,889
-8,992
| -0.8% | -$707K |
|
|
2
GSK
GSK
$105B
| $58.5M | 10.7% |
1,234,894
-35,208
| -3% | -$1.88M |
|
3
Bristol-Myers Squibb
BMY
$137B
| $57.2M | 10.46% |
1,026,209
-27,523
| -3% | -$1.68M |
|
|
FLG
4
Flagstar Bank National Association
FLG
$5.59B
| $49M | 8.96% |
1,739,227
-52,578
| -3% | -$1.75M |
|
|
5
BP
BP
$115B
| $39.7M | 7.26% |
1,628,462
+4,705
| +0.3% | +$152K |
|
|
6
Citigroup
C
$221B
| $39.7M | 7.26% |
941,823
-65,269
| -6% | -$4.38M |
|
|
7
Assured Guaranty
AGO
$3.27B
| $37.8M | 6.92% |
1,466,650
-59,408
| -4% | -$2.46M |
|
|
8
MBIA
MBI
$250M
| $36.5M | 6.68% |
5,112,051
-289,788
| -5% | -$2.45M |
|
9
Seaboard Corp
SEB
$4.08B
| $35.7M | 6.54% |
12,706
-126
| -1% | -$456K |
|
10
Pfizer
PFE
$160B
| $25.1M | 4.6% |
811,913
-41,599
| -5% | -$1.42M |
|
|
11
BlackBerry
BB
$4.71B
| $24M | 4.4% |
5,821,886
+7,751
| +0.1% | +$42.1K |
|
|
NTP
12
DELISTED
Nam Tai Property Inc.
NTP
| $10.8M | 1.98% |
1,968,994
-138,569
| -7% | -$1.02M |
|
|
VOXX
13
DELISTED
VOXX International Corporation Class A
VOXX
| $10.7M | 1.96% |
3,750,720
-95,495
| -2% | -$353K |
|
|
HOLX
14
DELISTED
Hologic
HOLX
| $9.35M | 1.71% |
266,505
-28,066
| -10% | -$1.34M |
|
|
15
Patterson-UTI
PTEN
$4.71B
| $7.09M | 1.3% |
3,015,139
+424,300
| +16% | +$2.75M |
|
16
Rafael Holdings
RFL
$112M
| $5.65M | 1.03% |
434,009
-2,622
| -0.6% | -$45.8K |
|
|
STL
17
DELISTED
Sterling Bancorp
STL
| $3.89M | 0.71% |
372,701
-6,027
| -2% | -$104K |
|
|
TPHS
18
DELISTED
Trinity Place Holdings Inc.com
TPHS
| $2.87M | 0.52% |
1,575,774
-21,817
| -1% | -$62.8K |
|
19
Novartis
NVS
$302B
| $1.91M | 0.35% |
23,198
-2,575
| -10% | -$230K |
|
|
VRAY
20
DELISTED
ViewRay, Inc.
VRAY
| $1.51M | 0.28% |
605,550
+72,000
| +13% | +$204K |
|
21
Verizon
VZ
$205B
| $968K | 0.18% |
18,015
-1,630
| -8% | -$93.3K |
|
22
ExxonMobil
XOM
$679B
| $726K | 0.13% |
19,120
| – | – |
|
23
Berkshire Hathaway Class B
BRK.B
$1.06T
| $608K | 0.11% |
3,325
+25
| +0.8% | +$5.31K |
|
24
Bank of America
BAC
$431B
| $378K | 0.07% |
17,783
+20
| +0.1% | +$600 |
|
|
SBBX
25
DELISTED
SB One Bancorp Common Stock
SBBX
| $344K | 0.06% |
20,245
| – | – |
|
Similar funds
Kahn Brothers's Q1 2020 Portfolio in Review
As of Q1 2020, Kahn Brothers held 48 positions worth $547M, down 34% from $825M the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Kahn Brothers withdrew a net $27.8M in Q1 2020, reducing 27 holdings. Its largest reduction was New York Times, cutting an estimated $10.6M.
By sector, the portfolio is most concentrated in Healthcare at 42% of assets, up from 35% a quarter earlier, followed by Financials and Energy.
Against the trend, Kahn Brothers added an estimated $2.75M to Patterson-UTI.
- Kahn Brothers added most to Patterson-UTI in Q1 2020, an estimated $2.75M increase.
- Kahn Brothers's biggest Q1 2020 reduction was New York Times, cutting an estimated $10.6M.
- Kahn Brothers's ten largest holdings make up 83% of its $547M portfolio in Q1 2020.
- Kahn Brothers opened 1 new position and closed 0 in Q1 2020.
- Kahn Brothers's portfolio value fell 34% quarter-over-quarter to $547M.
Based on Kahn Brothers Group's 13F filing for Q1 2020, filed 11 May 2020.