Funds › Kahn Brothers › Q4 2013Kahn Brothers 13F holdings, Q4 2013 Kahn Brothers disclosed 42 US equity positions worth $581.0m in its Q4 2013 13F filing. Its largest position is NYT at 11.6% of the reported book, followed by PFE and CITIGROUP. Versus Q3 2013 it opened 1 new position, added to 3, reduced 29 and exited 3.
$581m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
42 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
11.6% Largest position The largest single position as a share of the reported equity book.
73.9% Top 10 weight The ten largest positions together, as a share of the reported equity book.
15 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
53 Quarters on file since Q2 2013 Quarters for which this manager's 13F holdings are on record. Holdings Against Q3 2013: 1 new , 3 added , 29 reduced , 3 exited
42 rows
Stock Sector Weight Value Shares Δ shares Action NYT NEW YORK TIMES CO Communication Services 11.6% $67.6m 4.26m −22% reduced PFE PFIZER INC Healthcare 10.0% $58.2m 1.90m −24% reduced CITIGROUP no ticker – 9.6% $56.0m 1.07m −22% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 9.5% $55.1m 3.27m −21% reduced ORI OLD REP INTL CORP Financial Services 7.3% $42.5m 2.46m −28% reduced PTEN PATTERSON-UTI ENERGY INC Energy 6.1% $35.7m 1.41m −29% reduced MERCK no ticker – 5.2% $30.3m 2.53m +106% added HO1 HOLOGIC INC – 5.2% $30.2m 1.35m −13% reduced VOXXGUSD VOXX INTL CORP – 4.8% $28.0m 1.68m −28% reduced SLM CORP no ticker – 4.4% $25.7m 979,022 −8.1% reduced MBI MBIA INC Financial Services 4.4% $25.5m 2.14m −28% reduced BP PLC no ticker – 4.4% $25.3m 520,745 +6.4% added SEB SEABOARD CORP DEL Industrials 4.3% $25.1m 8,986 −33% reduced NAM TAI ELECTRS INC no ticker – 3.4% $19.6m 2.75m −27% reduced STL STERLING BANCORP DEL – 2.6% $15.1m 1.13m – new IDT CORP CL B no ticker – 1.5% $8.7m 485,905 −28% reduced TPHS TRINITY PL HLDGS INC Real Estate 1.2% $6.9m 1.02m +130% added GENIE ELECTRIC no ticker – 0.8% $4.9m 475,656 −28% reduced NVS NOVARTIS AG Healthcare 0.4% $2.2m 27,368 −6.8% reduced STRAIGHT PATH COMMUNICATNS I no ticker – 0.3% $2.0m 244,047 −27% reduced EXMOC EXXON MOBIL CORP – 0.3% $1.8m 17,934 0.0% held FIRST NIAGARA FINL GP INC no ticker – 0.3% $1.6m 149,382 −0.7% reduced BB BLACKBERRY LTD Technology 0.3% $1.5m 200,000 −49% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.5m 27,650 −2.3% reduced CMCSA COMCAST CORP NEW Communication Services 0.2% $1.3m 24,344 −2.3% reduced MONSANTO no ticker – 0.2% $1.0m 8,898 0.0% held BANK OF AMERICA no ticker – 0.2% $888k 57,021 0.0% held CVX CHEVRON CORPORATION Energy 0.2% $885k 7,088 0.0% held ASTEC INDUS no ticker – 0.1% $773k 20,000 −84% reduced LANDMARK SAVINGS BANK no ticker – 0.1% $692k 35,282 −56% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.1% $616k 3,283 0.0% held AMERICAN TEL & TEL no ticker – 0.10% $573k 16,297 −0.9% reduced U S G CORP no ticker – 0.10% $568k 20,000 −83% reduced CTM MEDIA CL A no ticker – 0.09% $498k 7,668 −26% reduced GE GENERAL ELECTRIC CO Industrials 0.07% $420k 15,000 0.0% held QUESTAR CORP no ticker – 0.06% $367k 15,950 0.0% held NEU NEWMARKET CORP Basic Materials 0.06% $334k 1,000 −8.3% reduced KEY KEYCORP Financial Services 0.05% $295k 21,999 −7.5% reduced PHI INC NON-VOTING no ticker – 0.05% $282k 6,500 −77% reduced ASTORIA FINANCIAL no ticker – 0.04% $245k 17,685 0.0% held FL8 FLUSHING FINL CORP – 0.04% $230k 11,119 −30% reduced VOLVO no ticker – 0.02% $131k 10,000 0.0% held
Exited since Q3 2013 3 rows
Stock Prior weight Prior value PROVIDENT BANCORP no ticker 1.8% $12.4m RSTK TRINITY PLACE HLDGS no ticker 0.5% $3.4m FIRST PLACE FINANCIAL no ticker 0.0% $21
Sector mix Unclassified 53.5% Communication Services 11.9% Financial Services 11.8% Healthcare 10.6% Energy 6.3% Industrials 4.4% Real Estate 1.2% Technology 0.4% Basic Materials 0.06% Book over time Every quarter on file (53) Where Kahn Brothers was early Concentration and tenure
11.0% Median largest position, all quarters The largest single position as a share of the reported equity book.
78.0% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
9 Median completed holding, quarters