Funds › Kahn Brothers › Q2 2014Kahn Brothers 13F holdings, Q2 2014 Kahn Brothers disclosed 43 US equity positions worth $687.3m in its Q2 2014 13F filing. Its largest position is NYT at 10.0% of the reported book, followed by CITIGROUP and MERCK. Versus Q1 2014 it opened 2 new positions, added to 5, reduced 25 and exited 1.
$687m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
43 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.0% 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 Q1 2014: 2 new , 5 added , 25 reduced , 1 exited
43 rows
Stock Sector Weight Value Shares Δ shares Action NYT NEW YORK TIMES CO Communication Services 10.0% $68.6m 4.51m −5.4% reduced CITIGROUP no ticker – 9.5% $65.2m 1.39m +12% added MERCK no ticker – 9.4% $64.8m 1.12m −0.7% reduced PFE PFIZER INC Healthcare 9.0% $62.2m 2.12m +0.6% added NYCBEUR NEW YORK CMNTY BANCORP INC – 8.7% $59.5m 3.73m −1.4% reduced BP PLC no ticker – 7.0% $47.8m 906,415 +5.4% added HO1 HOLOGIC INC – 5.7% $39.1m 1.54m −1.0% reduced ORI OLD REP INTL CORP Financial Services 5.0% $34.5m 2.27m −17% reduced SEB SEABOARD CORP DEL Industrials 5.0% $34.3m 11,360 −1.3% reduced PTEN PATTERSON-UTI ENERGY INC Energy 4.6% $31.6m 903,754 −31% reduced NAM TAI PPTY INC no ticker – 4.1% $28.5m 3.77m – new MBI MBIA INC Financial Services 4.1% $27.9m 2.52m −0.7% reduced VOXXGUSD VOXX INTL CORP – 2.8% $19.4m 2.06m −0.9% reduced BB BLACKBERRY LTD Technology 2.5% $17.1m 1.67m +271% added STL STERLING BANCORP DEL – 2.4% $16.8m 1.40m +4.5% added NAVI NAVIENT CORPORATION Financial Services 2.4% $16.2m 912,085 – new IDT CORP CL B no ticker – 1.7% $11.6m 665,144 −0.7% reduced TPHS TRINITY PL HLDGS INC Real Estate 1.1% $7.8m 1.20m 0.0% held SLM CORP no ticker – 1.1% $7.6m 911,685 −1.9% reduced GENIE ELECTRIC no ticker – 0.8% $5.2m 655,127 −0.8% reduced STRAIGHT PATH COMMUNICATNS I no ticker – 0.5% $3.4m 334,084 −0.7% reduced NVS NOVARTIS AG Healthcare 0.3% $2.4m 26,368 −6.1% reduced EXMOC EXXON MOBIL CORP – 0.3% $1.8m 17,684 −2.9% reduced LANDMARK SAVINGS BANK no ticker – 0.2% $1.4m 70,486 −2.6% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.2% $1.3m 27,650 −6.7% reduced CMCSA COMCAST CORP NEW Communication Services 0.2% $1.3m 24,253 −1.0% reduced PHI INC NON-VOTING no ticker – 0.2% $1.3m 28,280 0.0% held FIRST NIAGARA FINL GP INC no ticker – 0.2% $1.2m 138,084 −5.5% reduced MONSANTO no ticker – 0.2% $1.1m 8,888 −0.1% held BANK OF AMERICA no ticker – 0.1% $852k 55,463 −2.7% reduced CVX CHEVRON CORPORATION Energy 0.1% $834k 6,388 −5.9% reduced CTM MEDIA CL A no ticker – 0.1% $701k 10,341 −0.7% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.09% $591k 3,258 −0.8% reduced U S G CORP no ticker – 0.08% $572k 19,000 0.0% held AMERICAN TEL & TEL no ticker – 0.08% $562k 15,889 −2.9% reduced ASTEC INDUS no ticker – 0.08% $527k 12,000 0.0% held QUESTAR CORP no ticker – 0.06% $396k 15,950 0.0% held GE GENERAL ELECTRIC CO Industrials 0.06% $394k 15,000 0.0% held NEU NEWMARKET CORP Basic Materials 0.05% $373k 950 −5.0% reduced KEY KEYCORP Financial Services 0.04% $266k 18,569 0.0% held ASTORIA FINANCIAL no ticker – 0.03% $238k 17,685 0.0% held FL8 FLUSHING FINL CORP – 0.03% $208k 10,119 0.0% held VOLVO no ticker – 0.02% $138k 10,000 0.0% held
Exited since Q1 2014 1 row
Stock Prior weight Prior value NAM TAI ELECTRS INC no ticker 3.2% $22.2m
Sector mix Unclassified 55.3% Financial Services 11.5% Communication Services 10.2% Healthcare 9.6% Industrials 5.0% Energy 4.7% Technology 2.6% Real Estate 1.1% Basic Materials 0.05% 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