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 |
Pfizer
PFE
|
+$1.42M |
| 2 |
MBIA
MBI
|
+$936K |
| 3 |
VRAY
ViewRay, Inc.
VRAY
|
+$443K |
| 4 |
Verizon
VZ
|
+$1.15K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Assured Guaranty
AGO
|
+$5.59M |
| 2 |
BP
BP
|
+$4.35M |
| 3 |
Merck
MRK
|
+$2.6M |
| 4 |
Patterson-UTI
PTEN
|
+$2.46M |
| 5 |
Bristol-Myers Squibb
BMY
|
+$1.97M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 34.93% |
| 2 | Financials | 34.1% |
| 3 | Energy | 16.56% |
| 4 | Technology | 6.63% |
| 5 | Consumer Staples | 5.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Merck
MRK
$376B
| $74.8M | 10.97% |
648,671
-22,933
| -3% | -$2.6M |
|
|
FLG
2
Flagstar Bank National Association
FLG
$5.59B
| $71.4M | 10.47% |
2,117,557
-12,158
| -0.6% | -$369K |
|
|
3
BP
BP
$115B
| $65M | 9.53% |
1,842,491
-117,466
| -6% | -$4.35M |
|
|
4
Bristol-Myers Squibb
BMY
$137B
| $61.3M | 8.99% |
871,244
-29,312
| -3% | -$1.97M |
|
|
5
Assured Guaranty
AGO
$3.27B
| $58M | 8.5% |
1,038,934
-105,219
| -9% | -$5.59M |
|
6
Citigroup
C
$221B
| $55.6M | 8.15% |
1,206,806
-10,747
| -0.9% | -$503K |
|
|
7
Patterson-UTI
PTEN
$4.71B
| $45.9M | 6.73% |
3,835,467
-217,820
| -5% | -$2.46M |
|
8
GSK
GSK
$105B
| $45M | 6.6% |
1,263,458
-14,018
| -1% | -$503K |
|
|
9
MBIA
MBI
$250M
| $41.8M | 6.13% |
4,838,495
+103,933
| +2% | +$936K |
|
|
10
Pfizer
PFE
$160B
| $39.1M | 5.73% |
1,066,091
+36,429
| +4% | +$1.42M |
|
|
VOXX
11
DELISTED
VOXX International Corporation Class A
VOXX
| $37.2M | 5.45% |
2,924,166
-58,850
| -2% | -$696K |
|
12
Seaboard Corp
SEB
$4.08B
| $34M | 4.99% |
9,560
| – | – |
|
13
Haleon
HLN
$44B
| $10.6M | 1.56% |
1,270,438
-110,834
| -8% | -$946K |
|
14
IDT Corp
IDT
$1.69B
| $9.13M | 1.34% |
353,115
-13,116
| -4% | -$405K |
|
15
BlackBerry
BB
$4.71B
| $7.78M | 1.14% |
1,406,245
-6,700
| -0.5% | -$32.5K |
|
16
Genie Energy
GNE
$395M
| $4.27M | 0.63% |
302,064
-8,498
| -3% | -$126K |
|
|
WBS
17
DELISTED
Webster Financial
WBS
| $4.02M | 0.59% |
106,412
-6,609
| -6% | -$244K |
|
|
HOLX
18
DELISTED
Hologic
HOLX
| $2.43M | 0.36% |
30,035
| – | – |
|
19
Novartis
NVS
$302B
| $2.18M | 0.32% |
21,578
| – | – |
|
20
ExxonMobil
XOM
$679B
| $1.5M | 0.22% |
13,955
-300
| -2% | -$32.7K |
|
21
Organon & Co
OGN
$3.61B
| $1.24M | 0.18% |
59,798
-1,821
| -3% | -$39.6K |
|
22
Bank of America
BAC
$431B
| $932K | 0.14% |
32,481
-7,258
| -18% | -$207K |
|
|
TPHS
23
DELISTED
Trinity Place Holdings Inc.com
TPHS
| $806K | 0.12% |
1,492,415
| – | – |
|
|
VRAY
24
DELISTED
ViewRay, Inc.
VRAY
| $721K | 0.11% |
2,048,547
+427,750
| +26% | +$443K |
|
25
Viatris
VTRS
$18.7B
| $716K | 0.11% |
71,782
-1,855
| -3% | -$17.7K |
|
Similar funds
Kahn Brothers's Q2 2023 Portfolio in Review
As of Q2 2023, Kahn Brothers held 45 positions worth $682M, down 1.8% from $695M the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Trading was light in Q2 2023: portfolio turnover was 4.4%. Kahn Brothers opened no new positions and exited 2, leaving the 45-position portfolio largely intact.
By sector, the portfolio is most concentrated in Healthcare at 35% of assets, down from 35% a quarter earlier, followed by Financials and Energy.
- Kahn Brothers added most to Pfizer in Q2 2023, an estimated $1.42M increase.
- Kahn Brothers's biggest Q2 2023 reduction was Assured Guaranty, cutting an estimated $5.59M.
- Kahn Brothers fully exited Berkshire Hathaway Class B in Q2 2023, selling an estimated $959K.
- Kahn Brothers's ten largest holdings make up 82% of its $682M portfolio in Q2 2023.
- Kahn Brothers opened 0 new positions and closed 2 in Q2 2023.
- Kahn Brothers's portfolio value fell 1.8% quarter-over-quarter to $682M.
Based on Kahn Brothers Group's 13F filing for Q2 2023, filed 9 Aug 2023.