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 |
Walt Disney
DIS
|
+$17M |
| 2 |
BAY
BAYER AG SPONS ADR
BAY
|
+$6.65M |
| 3 |
Organon & Co
OGN
|
+$3.61M |
| 4 |
FLG
Flagstar Bank National Association
FLG
|
+$1.45M |
| 5 |
SEI Investments
SEIC
|
+$344K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MBIA
MBI
|
+$30.6M |
| 2 |
GSK
GSK
|
+$7.46M |
| 3 |
VOXX
VOXX International Corporation Class A
VOXX
|
+$6.41M |
| 4 |
BP
BP
|
+$1.74M |
| 5 |
Merck
MRK
|
+$1.36M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 45.95% |
| 2 | Financials | 25.73% |
| 3 | Energy | 12.04% |
| 4 | Communication Services | 8.98% |
| 5 | Consumer Staples | 5.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Citigroup
C
$221B
| $74.3M | 12.79% |
1,186,573
-8,279
| -0.7% | -$512K |
|
|
2
Merck
MRK
$376B
| $65.9M | 11.35% |
580,488
-11,423
| -2% | -$1.36M |
|
|
3
BP
BP
$115B
| $49.9M | 8.59% |
1,588,880
-51,522
| -3% | -$1.74M |
|
|
FLG
4
Flagstar Bank National Association
FLG
$5.59B
| $47.2M | 8.14% |
4,207,166
+136,632
| +3% | +$1.45M |
|
|
BAY
5
DELISTED
BAYER AG SPONS ADR
BAY
| $43.7M | 7.53% |
5,159,540
+785,085
| +18% | +$6.65M |
|
|
6
GSK
GSK
$105B
| $43.3M | 7.46% |
1,058,832
-182,429
| -15% | -$7.46M |
|
7
Bristol-Myers Squibb
BMY
$137B
| $42.7M | 7.36% |
826,108
-1,150
| -0.1% | -$53.9K |
|
|
8
Walt Disney
DIS
$186B
| $39M | 6.72% |
405,445
+184,542
| +84% | +$17M |
|
|
9
Organon & Co
OGN
$3.61B
| $35.1M | 6.05% |
1,835,193
+174,170
| +10% | +$3.61M |
|
10
Pfizer
PFE
$160B
| $28.9M | 4.97% |
997,025
-5,405
| -0.5% | -$158K |
|
11
Seaboard Corp
SEB
$4.08B
| $28.3M | 4.88% |
9,034
-191
| -2% | -$596K |
|
12
Assured Guaranty
AGO
$3.27B
| $23.5M | 4.04% |
294,985
-6,102
| -2% | -$481K |
|
13
Patterson-UTI
PTEN
$4.71B
| $17.2M | 2.96% |
2,246,029
-74,825
| -3% | -$689K |
|
14
IDT Corp
IDT
$1.69B
| $12.6M | 2.17% |
330,228
-1,279
| -0.4% | -$47.5K |
|
15
Genie Energy
GNE
$395M
| $4.71M | 0.81% |
289,913
-1,752
| -0.6% | -$28.6K |
|
16
Haleon
HLN
$44B
| $2.56M | 0.44% |
241,952
-4,195
| -2% | -$40.6K |
|
|
HOLX
17
DELISTED
Hologic
HOLX
| $2.08M | 0.36% |
25,591
| – | – |
|
18
Novartis
NVS
$302B
| $2.02M | 0.35% |
17,581
| – | – |
|
19
CSX Corp
CSX
$95.6B
| $1.72M | 0.3% |
49,820
| – | – |
|
20
ExxonMobil
XOM
$679B
| $1.68M | 0.29% |
14,326
| – | – |
|
|
FFH
21
DELISTED
FAIRFAX FINL HLDGS LTD SUB VTG
FFH
| $1.29M | 0.22% |
1,018
| – | – |
|
|
WBS
22
DELISTED
Webster Financial
WBS
| $999K | 0.17% |
21,437
+615
| +3% | +$28.2K |
|
23
Antero Resources
AR
$11.7B
| $864K | 0.15% |
30,156
| – | – |
|
24
Microsoft
MSFT
$3.59T
| $792K | 0.14% |
1,839
+12
| +0.7% | +$5.13K |
|
25
Bank of America
BAC
$431B
| $737K | 0.13% |
18,576
-261
| -1% | -$10.5K |
|
Similar funds
Kahn Brothers's Q3 2024 Portfolio in Review
As of Q3 2024, Kahn Brothers held 55 positions worth $581M, down 2.4% from $595M the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Kahn Brothers withdrew a net $20.8M in Q3 2024, closing 2 positions and reducing 22 holdings. Its most notable exit was MBIA, an estimated $30.6M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 46% of assets, up from 43% a quarter earlier, followed by Financials and Energy.
Against the trend, Kahn Brothers opened a new position in SEI Investments worth $356K.
- Kahn Brothers's largest Q3 2024 buy was SEI Investments: 5,147 shares worth $356K.
- Kahn Brothers added most to Walt Disney in Q3 2024, an estimated $17M increase.
- Kahn Brothers's biggest Q3 2024 reduction was GSK, cutting an estimated $7.46M.
- Kahn Brothers fully exited MBIA in Q3 2024, selling an estimated $30.6M.
- Kahn Brothers's ten largest holdings make up 81% of its $581M portfolio in Q3 2024.
- Kahn Brothers opened 3 new positions and closed 2 in Q3 2024.
- Kahn Brothers's portfolio value fell 2.4% quarter-over-quarter to $581M.
Based on Kahn Brothers Group's 13F filing for Q3 2024, filed 13 Nov 2024.