Funds › Kahn Brothers › Q3 2015Kahn Brothers 13F holdings, Q3 2015 Kahn Brothers disclosed 38 US equity positions worth $540.2m in its Q3 2015 13F filing. Its largest position is CITIGROUP at 10.3% of the reported book, followed by HO1 and PFE. Versus Q2 2015 it opened 1 new position, added to 8, reduced 16 and exited 3.
$540m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
38 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.3% Largest position The largest single position as a share of the reported equity book.
76.8% 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 Q2 2015: 1 new , 8 added , 16 reduced , 3 exited
38 rows
Stock Sector Weight Value Shares Δ shares Action CITIGROUP no ticker – 10.3% $55.7m 1.12m −0.3% held HO1 HOLOGIC INC – 9.7% $52.5m 1.34m −1.3% reduced PFE PFIZER INC Healthcare 9.7% $52.5m 1.67m −5.9% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 9.3% $50.0m 2.77m −9.4% reduced MERCK no ticker – 9.2% $49.7m 1.01m −1.0% reduced NYT NEW YORK TIMES CO Communication Services 8.6% $46.5m 3.93m −0.2% held BP PLC no ticker – 5.8% $31.4m 1.03m +12% added MBI MBIA INC Financial Services 5.0% $27.3m 4.49m +30% added SEB SEABOARD CORP DEL Industrials 5.0% $27.0m 8,759 0.0% held BB BLACKBERRY LTD Technology 4.1% $22.1m 3.61m +9.3% added NAM TAI PPTY INC no ticker – 4.1% $22.0m 3.61m +24% added STL STERLING BANCORP DEL – 2.9% $15.7m 1.06m −0.2% held PTEN PATTERSON-UTI ENERGY INC Energy 2.6% $14.3m 1.09m +6.7% added ORI OLD REP INTL CORP Financial Services 2.4% $13.2m 845,861 −24% reduced VOXXGUSD VOXX INTL CORP – 2.2% $12.0m 1.62m +5.4% added STRAIGHT PATH COMMUNICATNS I no ticker – 1.8% $9.5m 235,111 −1.9% reduced TPHS TRINITY PL HLDGS INC Real Estate 1.4% $7.3m 1.17m −0.3% held IDT CORP CL B no ticker – 1.3% $6.9m 483,996 −0.7% reduced GENIE ENERGY no ticker – 0.6% $3.4m 418,248 −1.1% reduced IDW MEDIA no ticker – 0.6% $3.1m 80,690 – new NVS NOVARTIS AG Healthcare 0.5% $2.6m 28,543 +1.4% added NAVI NAVIENT CORPORATION Financial Services 0.4% $2.3m 204,161 −39% reduced GLAXOSMITHKLINE no ticker – 0.4% $2.2m 57,500 −1.2% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.7m 28,800 0.0% held FIRST NIAGARA FINL GP INC no ticker – 0.2% $1.3m 130,553 −1.3% reduced EXMOC EXXON MOBIL CORP – 0.2% $1.3m 17,684 0.0% held CMCSA COMCAST CORP NEW Communication Services 0.2% $1.2m 20,762 −5.5% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.2% $1.0m 7,158 0.0% held LANDMARK SAVINGS BANK no ticker – 0.1% $723k 28,361 −16% reduced MONSANTO no ticker – 0.1% $708k 8,298 −4.7% reduced BANK OF AMERICA no ticker – 0.1% $685k 43,996 −6.6% reduced SLM CORP no ticker – 0.08% $441k 59,600 −41% reduced CVX CHEVRON CORPORATION Energy 0.07% $386k 4,888 0.0% held AMERICAN TEL & TEL no ticker – 0.07% $384k 11,780 +0.6% added GE GENERAL ELECTRIC CO Industrials 0.07% $378k 15,000 0.0% held ASTORIA FINANCIAL no ticker – 0.05% $285k 17,685 0.0% held KEY KEYCORP Financial Services 0.03% $178k 13,668 0.0% held VOLVO no ticker – 0.02% $95.5k 10,000 0.0% held
Exited since Q2 2015 3 rows
Stock Prior weight Prior value CTM MEDIA CL A no ticker 0.3% $1.9m NEU NEWMARKET CORP 0.07% $386k FL8 FLUSHING FINL CORP 0.03% $198k
Sector mix Unclassified 59.3% Healthcare 10.5% Communication Services 8.8% Financial Services 8.0% Industrials 5.1% Technology 4.3% Energy 2.7% Real Estate 1.4% 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