Funds › Kahn Brothers › Q1 2015Kahn Brothers 13F holdings, Q1 2015 Kahn Brothers disclosed 42 US equity positions worth $592.1m in its Q1 2015 13F filing. Its largest position is PFE at 10.6% of the reported book, followed by MERCK and CITIGROUP. Versus Q4 2014 it opened 0 new positions, added to 4, reduced 27 and exited 2.
$592m 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.
10.6% Largest position The largest single position as a share of the reported equity book.
77.1% Top 10 weight The ten largest positions together, as a share of the reported equity book.
14 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 Q4 2014: 0 new , 4 added , 27 reduced , 2 exited
42 rows
Stock Sector Weight Value Shares Δ shares Action PFE PFIZER INC Healthcare 10.6% $63.0m 1.81m −3.8% reduced MERCK no ticker – 10.0% $59.2m 1.03m −2.2% reduced CITIGROUP no ticker – 9.8% $58.3m 1.13m −5.0% reduced NYT NEW YORK TIMES CO Communication Services 9.3% $55.1m 4.00m −3.1% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 9.2% $54.2m 3.24m −4.1% reduced HO1 HOLOGIC INC – 7.7% $45.5m 1.38m −3.0% reduced SEB SEABOARD CORP DEL Industrials 6.2% $37.0m 8,948 −8.8% reduced BP PLC no ticker – 6.0% $35.5m 906,887 +4.5% added ORI OLD REP INTL CORP Financial Services 4.7% $28.0m 1.87m −4.6% reduced BB BLACKBERRY LTD Technology 3.6% $21.1m 2.36m +28% added PTEN PATTERSON-UTI ENERGY INC Energy 3.1% $18.4m 979,823 +10% added MBI MBIA INC Financial Services 3.1% $18.2m 1.96m −1.0% reduced STL STERLING BANCORP DEL – 2.4% $14.4m 1.07m −16% reduced VOXXGUSD VOXX INTL CORP – 2.4% $14.3m 1.56m −8.3% reduced NAVI NAVIENT CORPORATION Financial Services 2.1% $12.3m 606,580 −29% reduced NAM TAI PPTY INC no ticker – 2.0% $11.6m 2.91m −1.0% reduced IDT CORP CL B no ticker – 1.5% $8.8m 495,670 −6.1% reduced TPHS TRINITY PL HLDGS INC Real Estate 1.4% $8.1m 1.16m −0.5% reduced STRAIGHT PATH COMMUNICATNS I no ticker – 0.8% $5.0m 250,172 −6.2% reduced GENIE ENERGY no ticker – 0.6% $3.4m 427,708 −6.8% reduced NVS NOVARTIS AG Healthcare 0.5% $3.1m 30,968 0.0% held GLAXOSMITHKLINE no ticker – 0.5% $2.7m 58,200 +14% added BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.8m 28,400 0.0% held EXMOC EXXON MOBIL CORP – 0.3% $1.5m 17,684 0.0% held SLM CORP no ticker – 0.2% $1.5m 159,122 −78% reduced CMCSA COMCAST CORP NEW Communication Services 0.2% $1.4m 24,510 −3.9% reduced FIRST NIAGARA FINL GP INC no ticker – 0.2% $1.2m 132,333 −1.3% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.2% $1.1m 7,158 0.0% held MONSANTO no ticker – 0.2% $980k 8,704 −2.1% reduced LANDMARK SAVINGS BANK no ticker – 0.1% $858k 33,624 −33% reduced BANK OF AMERICA no ticker – 0.1% $768k 49,877 −2.4% reduced CTM MEDIA CL A no ticker – 0.1% $650k 7,922 −5.2% reduced CVX CHEVRON CORPORATION Energy 0.1% $629k 5,988 0.0% held NEU NEWMARKET CORP Basic Materials 0.07% $420k 880 0.0% held AMERICAN TEL & TEL no ticker – 0.07% $388k 11,883 −1.3% reduced QUESTAR CORP no ticker – 0.06% $381k 15,950 0.0% held GE GENERAL ELECTRIC CO Industrials 0.06% $372k 15,000 0.0% held FL8 FLUSHING FINL CORP – 0.05% $311k 15,519 0.0% held ASTORIA FINANCIAL no ticker – 0.04% $229k 17,685 0.0% held ASTEC INDUS no ticker – 0.04% $214k 5,000 −58% reduced KEY KEYCORP Financial Services 0.03% $206k 14,524 −4.4% reduced VOLVO no ticker – 0.02% $121k 10,000 0.0% held
Exited since Q4 2014 2 rows
Stock Prior weight Prior value U S G CORP no ticker 0.09% $532k PHI INC NON-VOTING no ticker 0.04% $243k
Sector mix Unclassified 54.4% Healthcare 11.5% Financial Services 9.9% Communication Services 9.5% Industrials 6.3% Technology 3.8% Energy 3.2% Real Estate 1.4% Basic Materials 0.07% 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