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 |
FLG
Flagstar Bank National Association
FLG
|
+$19.3M |
| 2 |
Walt Disney
DIS
|
+$13.7M |
| 3 |
Organon & Co
OGN
|
+$9.56M |
| 4 |
BAY
BAYER AG SPONS ADR
BAY
|
+$8.98M |
| 5 |
MBIA
MBI
|
+$2.36M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Assured Guaranty
AGO
|
+$52.3M |
| 2 |
VOXX
VOXX International Corporation Class A
VOXX
|
+$5.79M |
| 3 |
Patterson-UTI
PTEN
|
+$3.63M |
| 4 |
WBS
Webster Financial
WBS
|
+$3.43M |
| 5 |
Merck
MRK
|
+$2.82M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 42.85% |
| 2 | Financials | 29.01% |
| 3 | Energy | 14.53% |
| 4 | Communication Services | 5.76% |
| 5 | Consumer Staples | 5.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Citigroup
C
$221B
| $75.8M | 12.74% |
1,194,852
-4,594
| -0.4% | -$283K |
|
|
2
Merck
MRK
$376B
| $73.3M | 12.32% |
591,911
-21,904
| -4% | -$2.82M |
|
3
BP
BP
$115B
| $59.2M | 9.95% |
1,640,402
-25,218
| -2% | -$945K |
|
4
GSK
GSK
$105B
| $47.8M | 8.03% |
1,241,261
-12,383
| -1% | -$521K |
|
|
FLG
5
Flagstar Bank National Association
FLG
$5.59B
| $39.3M | 6.61% |
4,070,534
+1,999,438
| +97% | +$19.3M |
|
|
6
Organon & Co
OGN
$3.61B
| $34.4M | 5.78% |
1,661,023
+480,819
| +41% | +$9.56M |
|
7
Bristol-Myers Squibb
BMY
$137B
| $34.4M | 5.77% |
827,258
-4,733
| -0.6% | -$212K |
|
|
BAY
8
DELISTED
BAYER AG SPONS ADR
BAY
| $30.8M | 5.18% |
4,374,455
+1,275,315
| +41% | +$8.98M |
|
|
9
MBIA
MBI
$250M
| $30.6M | 5.14% |
5,570,263
+393,650
| +8% | +$2.36M |
|
10
Seaboard Corp
SEB
$4.08B
| $29.2M | 4.9% |
9,225
+173
| +2% | +$557K |
|
11
Pfizer
PFE
$160B
| $28M | 4.71% |
1,002,430
-20,289
| -2% | -$559K |
|
|
12
Patterson-UTI
PTEN
$4.71B
| $24M | 4.04% |
2,320,854
-331,478
| -12% | -$3.63M |
|
|
13
Assured Guaranty
AGO
$3.27B
| $23.2M | 3.9% |
301,087
-669,493
| -69% | -$52.3M |
|
|
14
Walt Disney
DIS
$186B
| $21.9M | 3.69% |
220,903
+126,971
| +135% | +$13.7M |
|
15
IDT Corp
IDT
$1.69B
| $11.9M | 2% |
331,507
-14,041
| -4% | -$528K |
|
|
VOXX
16
DELISTED
VOXX International Corporation Class A
VOXX
| $5.57M | 0.94% |
1,761,704
-1,087,822
| -38% | -$5.79M |
|
17
Genie Energy
GNE
$395M
| $4.26M | 0.72% |
291,665
-2,025
| -0.7% | -$30.8K |
|
18
Haleon
HLN
$44B
| $2.03M | 0.34% |
246,147
-228,134
| -48% | -$1.91M |
|
|
HOLX
19
DELISTED
Hologic
HOLX
| $1.9M | 0.32% |
25,591
-900
| -3% | -$67.5K |
|
20
Novartis
NVS
$302B
| $1.87M | 0.31% |
17,581
+2,168
| +14% | +$218K |
|
21
CSX Corp
CSX
$95.6B
| $1.67M | 0.28% |
49,820
-500
| -1% | -$17K |
|
22
ExxonMobil
XOM
$679B
| $1.65M | 0.28% |
14,326
+159
| +1% | +$18.5K |
|
|
FFH
23
DELISTED
FAIRFAX FINL HLDGS LTD SUB VTG
FFH
| $1.16M | 0.19% |
1,018
| – | – |
|
24
Antero Resources
AR
$11.7B
| $984K | 0.17% |
30,156
| – | – |
|
|
WBS
25
DELISTED
Webster Financial
WBS
| $908K | 0.15% |
20,822
-77,113
| -79% | -$3.43M |
|
Similar funds
Kahn Brothers's Q2 2024 Portfolio in Review
As of Q2 2024, Kahn Brothers held 54 positions worth $595M, down 12% from $674M the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Kahn Brothers withdrew a net $20.1M in Q2 2024, closing 2 positions and reducing 28 holdings. Its most notable exit was Eagle Bulk Shipping Inc., an estimated $279K position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 43% of assets, up from 39% a quarter earlier, followed by Financials and Energy.
Against the trend, Kahn Brothers opened a new position in Orange County Bancorp worth $212K.
- Kahn Brothers's largest Q2 2024 buy was Orange County Bancorp: 8,000 shares worth $212K.
- Kahn Brothers added most to Flagstar Bank National Association in Q2 2024, an estimated $19.3M increase.
- Kahn Brothers's biggest Q2 2024 reduction was Assured Guaranty, cutting an estimated $52.3M.
- Kahn Brothers fully exited Eagle Bulk Shipping Inc. in Q2 2024, selling an estimated $279K.
- Kahn Brothers's ten largest holdings make up 76% of its $595M portfolio in Q2 2024.
- Kahn Brothers opened 1 new position and closed 2 in Q2 2024.
- Kahn Brothers's portfolio value fell 12% quarter-over-quarter to $595M.
Based on Kahn Brothers Group's 13F filing for Q2 2024, filed 14 Aug 2024.