Funds › Kahn Brothers › Q2 2015Kahn Brothers 13F holdings, Q2 2015 Kahn Brothers disclosed 40 US equity positions worth $593.0m in its Q2 2015 13F filing. Its largest position is CITIGROUP at 10.5% of the reported book, followed by PFE and MERCK. Versus Q1 2015 it opened 0 new positions, added to 7, reduced 23 and exited 2.
$593m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
40 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.5% 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 Q1 2015: 0 new , 7 added , 23 reduced , 2 exited
40 rows
Stock Sector Weight Value Shares Δ shares Action CITIGROUP no ticker – 10.5% $62.3m 1.13m −0.4% held PFE PFIZER INC Healthcare 10.0% $59.5m 1.77m −2.0% reduced MERCK no ticker – 9.8% $57.9m 1.02m −1.3% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 9.5% $56.2m 3.06m −5.5% reduced NYT NEW YORK TIMES CO Communication Services 9.1% $53.8m 3.94m −1.5% reduced HO1 HOLOGIC INC – 8.7% $51.8m 1.36m −1.3% reduced BP PLC no ticker – 6.1% $36.5m 912,326 +0.6% added SEB SEABOARD CORP DEL Industrials 5.3% $31.5m 8,759 −2.1% reduced BB BLACKBERRY LTD Technology 4.6% $27.0m 3.30m +40% added MBI MBIA INC Financial Services 3.5% $20.8m 3.46m +76% added PTEN PATTERSON-UTI ENERGY INC Energy 3.2% $19.2m 1.02m +4.1% added ORI OLD REP INTL CORP Financial Services 2.9% $17.4m 1.12m −40% reduced STL STERLING BANCORP DEL – 2.6% $15.6m 1.06m −1.1% reduced NAM TAI PPTY INC no ticker – 2.4% $14.1m 2.92m 0.0% held VOXXGUSD VOXX INTL CORP – 2.1% $12.7m 1.53m −1.7% reduced TPHS TRINITY PL HLDGS INC Real Estate 1.6% $9.2m 1.17m +1.5% added IDT CORP CL B no ticker – 1.5% $8.8m 487,648 −1.6% reduced STRAIGHT PATH COMMUNICATNS I no ticker – 1.3% $7.9m 239,784 −4.2% reduced NAVI NAVIENT CORPORATION Financial Services 1.0% $6.1m 335,534 −45% reduced GENIE ENERGY no ticker – 0.7% $4.4m 422,705 −1.2% reduced NVS NOVARTIS AG Healthcare 0.5% $2.8m 28,143 −9.1% reduced GLAXOSMITHKLINE no ticker – 0.4% $2.4m 58,200 0.0% held BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.9m 28,800 +1.4% added CTM MEDIA CL A no ticker – 0.3% $1.9m 7,839 −1.0% reduced EXMOC EXXON MOBIL CORP – 0.2% $1.5m 17,684 0.0% held CMCSA COMCAST CORP NEW Communication Services 0.2% $1.3m 21,962 −10% reduced FIRST NIAGARA FINL GP INC no ticker – 0.2% $1.2m 132,333 0.0% held IBM INTERNATIONAL BUSINESS MACHS Technology 0.2% $1.2m 7,158 0.0% held SLM CORP no ticker – 0.2% $998k 101,130 −36% reduced MONSANTO no ticker – 0.2% $928k 8,704 0.0% held LANDMARK SAVINGS BANK no ticker – 0.1% $821k 33,826 +0.6% added BANK OF AMERICA no ticker – 0.1% $802k 47,102 −5.6% reduced AMERICAN TEL & TEL no ticker – 0.1% $611k 11,710 −1.5% reduced CVX CHEVRON CORPORATION Energy 0.08% $472k 4,888 −18% reduced GE GENERAL ELECTRIC CO Industrials 0.07% $399k 15,000 0.0% held NEU NEWMARKET CORP Basic Materials 0.07% $386k 870 −1.1% reduced ASTORIA FINANCIAL no ticker – 0.04% $244k 17,685 0.0% held KEY KEYCORP Financial Services 0.03% $205k 13,668 −5.9% reduced FL8 FLUSHING FINL CORP – 0.03% $198k 9,445 −39% reduced VOLVO no ticker – 0.02% $124k 10,000 0.0% held
Exited since Q1 2015 2 rows
Stock Prior weight Prior value QUESTAR CORP no ticker 0.06% $381k ASTEC INDUS no ticker 0.04% $214k
Sector mix Unclassified 57.3% Healthcare 10.8% Communication Services 9.3% Financial Services 7.5% Industrials 5.4% Technology 4.8% Energy 3.3% Real Estate 1.6% 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