Funds › Kahn Brothers › Q1 2016Kahn Brothers 13F holdings, Q1 2016 Kahn Brothers disclosed 37 US equity positions worth $533.9m in its Q1 2016 13F filing. Its largest position is MERCK at 9.8% of the reported book, followed by NYT and CITIGROUP. Versus Q4 2015 it opened 0 new positions, added to 7, reduced 20 and exited 1.
$534m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
37 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
9.8% Largest position The largest single position as a share of the reported equity book.
78.1% 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 Q4 2015: 0 new , 7 added , 20 reduced , 1 exited
37 rows
Stock Sector Weight Value Shares Δ shares Action MERCK no ticker – 9.8% $52.1m 985,419 −2.5% reduced NYT NEW YORK TIMES CO Communication Services 9.1% $48.4m 3.89m −1.0% reduced CITIGROUP no ticker – 8.9% $47.5m 1.14m +1.3% added HO1 HOLOGIC INC – 8.6% $45.8m 1.33m −1.8% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 8.1% $43.2m 2.71m −1.4% reduced PFE PFIZER INC Healthcare 8.0% $42.8m 1.44m −8.1% reduced MBI MBIA INC Financial Services 7.3% $38.8m 4.39m −0.5% held BP PLC no ticker – 7.1% $37.9m 1.25m +15% added BB BLACKBERRY LTD Technology 6.1% $32.3m 4.00m +5.1% added SEB SEABOARD CORP DEL Industrials 5.3% $28.4m 9,459 −0.5% reduced NAM TAI PPTY INC no ticker – 4.2% $22.3m 3.64m −0.3% held PTEN PATTERSON-UTI ENERGY INC Energy 3.5% $18.8m 1.07m −0.2% held STL STERLING BANCORP DEL – 3.0% $16.2m 1.02m −0.8% reduced VOXXGUSD VOXX INTL CORP – 1.6% $8.3m 1.85m +1.3% added IDT CORP CL B no ticker – 1.5% $7.8m 499,080 −0.8% reduced STRAIGHT PATH COMMUNICATNS I no ticker – 1.4% $7.5m 243,254 −0.6% reduced TPHS TRINITY PL HLDGS INC Real Estate 1.4% $7.3m 1.06m 0.0% held GLAXOSMITHKLINE no ticker – 1.0% $5.4m 131,950 +56% added ORI OLD REP INTL CORP Financial Services 0.8% $4.0m 219,934 −73% reduced GENIE ENERGY no ticker – 0.6% $3.3m 434,532 −0.7% reduced NAVI NAVIENT CORPORATION Financial Services 0.4% $2.2m 187,471 −2.1% reduced NVS NOVARTIS AG Healthcare 0.4% $2.0m 27,643 0.0% held BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.8m 28,583 +1.9% added IDW MEDIA no ticker – 0.3% $1.6m 83,410 −0.5% reduced EXMOC EXXON MOBIL CORP – 0.3% $1.5m 17,434 0.0% held CMCSA COMCAST CORP NEW Communication Services 0.2% $1.3m 20,595 +0.2% held IBM INTERNATIONAL BUSINESS MACHS Technology 0.2% $1.1m 7,358 +2.8% added MONSANTO no ticker – 0.1% $679k 7,742 −5.3% reduced FIRST NIAGARA FINL GP INC no ticker – 0.1% $536k 55,405 −56% reduced BANK OF AMERICA no ticker – 0.10% $526k 38,942 −2.1% reduced GE GENERAL ELECTRIC CO Industrials 0.09% $477k 15,000 0.0% held CVX CHEVRON CORPORATION Energy 0.09% $466k 4,888 0.0% held AMERICAN TEL & TEL no ticker – 0.08% $436k 11,122 −4.6% reduced LANDMARK SAVINGS BANK no ticker – 0.07% $377k 15,085 −47% reduced SLM CORP no ticker – 0.06% $335k 52,650 −1.8% reduced ASTORIA FINANCIAL no ticker – 0.05% $280k 17,685 0.0% held KEY KEYCORP Financial Services 0.02% $119k 10,749 −21% reduced
Exited since Q4 2015 1 row
Stock Prior weight Prior value VOLVO no ticker 0.02% $93.8k
Sector mix Unclassified 56.8% Communication Services 9.3% Healthcare 8.7% Financial Services 8.5% Technology 6.3% Industrials 5.4% Energy 3.6% 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