Funds › Kahn Brothers › Q3 2016Kahn Brothers 13F holdings, Q3 2016 Kahn Brothers disclosed 35 US equity positions worth $552.1m in its Q3 2016 13F filing. Its largest position is MERCK at 10.8% of the reported book, followed by CITIGROUP and HO1. Versus Q2 2016 it opened 0 new positions, added to 4, reduced 20 and exited 2.
$552m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
35 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.8% Largest position The largest single position as a share of the reported equity book.
74.1% 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 Q2 2016: 0 new , 4 added , 20 reduced , 2 exited
35 rows
Stock Sector Weight Value Shares Δ shares Action MERCK no ticker – 10.8% $59.8m 957,991 −0.7% reduced CITIGROUP no ticker – 9.4% $51.9m 1.11m +1.3% added HO1 HOLOGIC INC – 8.7% $47.9m 1.23m −3.3% reduced BP PLC no ticker – 8.3% $45.9m 1.30m +4.0% added NYT NEW YORK TIMES CO Communication Services 8.1% $44.7m 3.74m −0.6% reduced BB BLACKBERRY LTD Technology 6.3% $34.7m 4.34m +8.2% added MBI MBIA INC Financial Services 6.1% $33.8m 4.35m −0.2% held NYCBEUR NEW YORK CMNTY BANCORP INC – 5.8% $32.1m 2.26m −11% reduced PFE PFIZER INC Healthcare 5.6% $31.2m 919,757 −20% reduced GLAXOSMITHKLINE no ticker – 5.0% $27.4m 632,040 +66% added SEB SEABOARD CORP DEL Industrials 4.9% $26.9m 8,679 −0.3% held NAM TAI PPTY INC no ticker – 4.7% $25.8m 3.20m −2.7% reduced PTEN PATTERSON-UTI ENERGY INC Energy 4.2% $23.4m 1.04m −0.6% reduced STL STERLING BANCORP DEL – 3.2% $17.7m 1.01m −0.3% held TPHS TRINITY PL HLDGS INC Real Estate 1.9% $10.4m 1.06m 0.0% held IDT CORP CL B no ticker – 1.5% $8.1m 468,583 −0.9% reduced STRAIGHT PATH COMMUNICATNS I no ticker – 1.0% $5.5m 213,856 −6.4% reduced VOXXGUSD VOXX INTL CORP – 0.9% $5.2m 1.73m −0.7% reduced IDW MEDIA no ticker – 0.6% $3.3m 79,040 −0.6% reduced NAVI NAVIENT CORPORATION Financial Services 0.5% $2.7m 185,091 0.0% held GENIE ENERGY no ticker – 0.4% $2.4m 405,701 −0.6% reduced NVS NOVARTIS AG Healthcare 0.4% $2.2m 27,643 0.0% held BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.5m 28,583 0.0% held EXMOC EXXON MOBIL CORP – 0.3% $1.5m 17,434 0.0% held CMCSA COMCAST CORP NEW Communication Services 0.2% $1.1m 17,242 −10% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.2% $935k 5,883 −20% reduced ORI OLD REP INTL CORP Financial Services 0.2% $846k 48,000 −2.0% reduced MONSANTO no ticker – 0.1% $708k 6,932 −2.6% reduced ZDGE ZEDGE INC – 0.10% $535k 156,320 −0.7% reduced CVX CHEVRON CORPORATION Energy 0.08% $447k 4,348 −4.4% reduced GE GENERAL ELECTRIC CO Industrials 0.08% $444k 15,000 0.0% held BANK OF AMERICA no ticker – 0.08% $432k 27,624 −9.4% reduced SLM CORP no ticker – 0.07% $393k 52,650 0.0% held AMERICAN TEL & TEL no ticker – 0.04% $207k 5,099 −50% reduced ASTORIA FINANCIAL no ticker – 0.03% $163k 11,185 0.0% held
Exited since Q2 2016 2 rows
Stock Prior weight Prior value LANDMARK SAVINGS BANK no ticker 0.04% $210k FIRST NIAGARA FINL GP INC no ticker 0.03% $154k
Sector mix Unclassified 61.0% Communication Services 8.3% Financial Services 6.8% Technology 6.4% Healthcare 6.3% Industrials 5.0% Energy 4.3% Real Estate 1.9% 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