Funds › Kahn Brothers › Q4 2016Kahn Brothers 13F holdings, Q4 2016 Kahn Brothers disclosed 35 US equity positions worth $592.1m in its Q4 2016 13F filing. Its largest position is CITIGROUP at 10.9% of the reported book, followed by MERCK and NYT. Versus Q3 2016 it opened 5 new positions, added to 2, reduced 15 and exited 5.
$592m 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.
10.9% Largest position The largest single position as a share of the reported equity book.
75.1% 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 Q3 2016: 5 new , 2 added , 15 reduced , 5 exited
35 rows
Stock Sector Weight Value Shares Δ shares Action CITIGROUP no ticker – 10.9% $64.7m 1.09m −1.8% reduced MERCK no ticker – 9.5% $56.1m 952,741 −0.5% reduced NYT NEW YORK TIMES CO Communication Services 8.4% $49.6m 3.73m −0.2% held BP BP PLC Energy 8.3% $49.0m 1.31m – new HO1 HOLOGIC INC – 8.1% $48.0m 1.20m −3.0% reduced MBI MBIA INC Financial Services 7.9% $46.7m 4.37m +0.5% added NYCBEUR NEW YORK CMNTY BANCORP INC – 6.0% $35.5m 2.23m −1.2% reduced SEB SEABOARD CORP DEL Industrials 5.6% $33.1m 8,370 −3.6% reduced GSK PLC no ticker – 5.4% $32.1m 833,315 – new BB BLACKBERRY LTD Technology 5.1% $30.0m 4.36m +0.3% held PFE PFIZER INC Healthcare 4.7% $27.9m 860,290 −6.5% reduced PTEN PATTERSON-UTI ENERGY INC Energy 4.5% $26.4m 980,351 −6.2% reduced STL STERLING BANCORP DEL – 4.0% $23.7m 1.01m 0.0% held NAM TAI PPTY INC no ticker – 2.4% $14.2m 1.92m −40% reduced TPHS TRINITY PL HLDGS INC Real Estate 1.7% $9.8m 1.06m 0.0% held IDT CORP CL B no ticker – 1.4% $8.6m 461,917 −1.4% reduced VOXXGUSD VOXX INTL CORP – 1.4% $8.2m 1.75m +1.0% added STRAIGHT PATH COMMUNICATNS I no ticker – 1.2% $7.2m 213,356 −0.2% held IDW MEDIA no ticker – 0.7% $3.9m 78,660 −0.5% held NAVI NAVIENT CORPORATION Financial Services 0.5% $3.0m 182,391 −1.5% reduced GENIE ENERGY no ticker – 0.4% $2.3m 405,301 −0.1% held NVS NOVARTIS AG Healthcare 0.3% $2.0m 27,071 −2.1% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.7m 28,583 0.0% held EXMOC EXXON MOBIL CORP – 0.3% $1.6m 17,334 −0.6% reduced CMCSA COMCAST CORP NEW Communication Services 0.2% $1.1m 16,330 −5.3% reduced IBM INTERNATIONAL BUSINESS MACHS Technology 0.2% $977k 5,883 0.0% held ORI OLD REP INTL CORP Financial Services 0.2% $912k 48,000 0.0% held MONSANTO no ticker – 0.1% $704k 6,692 −3.5% reduced BAC BANK OF AMER CORP Financial Services 0.1% $610k 27,624 – new CVX CHEVRON CORPORATION Energy 0.09% $512k 4,348 0.0% held SLM CORP no ticker – 0.08% $491k 44,550 −15% reduced ZDGE ZEDGE INC – 0.08% $489k 156,320 0.0% held GE GENERAL ELECTRIC CO Industrials 0.08% $474k 15,000 0.0% held AMERICAN TEL & TEL no ticker – 0.04% $217k 5,099 – new ASTORIA FINL CORP no ticker – 0.04% $209k 11,185 – new
Exited since Q3 2016 5 rows
Stock Prior weight Prior value BP PLC no ticker 8.3% $45.9m GLAXOSMITHKLINE no ticker 5.0% $27.4m BANK OF AMERICA no ticker 0.08% $432k AMERICAN TEL & TEL no ticker 0.04% $207k ASTORIA FINANCIAL no ticker 0.03% $163k
Sector mix Unclassified 52.1% Energy 12.8% Financial Services 8.7% Communication Services 8.6% Industrials 5.7% Healthcare 5.3% Technology 5.2% Real Estate 1.7% 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