Funds › Kahn Brothers › Q1 2017Kahn Brothers 13F holdings, Q1 2017 Kahn Brothers disclosed 35 US equity positions worth $581.4m in its Q1 2017 13F filing. Its largest position is CITIGROUP at 11.1% of the reported book, followed by MERCK and NYT. Versus Q4 2016 it opened 1 new position, added to 7, reduced 12 and exited 1.
$581m 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.
11.1% Largest position The largest single position as a share of the reported equity book.
76.4% 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 2016: 1 new , 7 added , 12 reduced , 1 exited
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Stock Sector Weight Value Shares Δ shares Action CITIGROUP no ticker – 11.1% $64.8m 1.08m −0.5% held MERCK no ticker – 10.3% $59.7m 940,119 −1.3% reduced NYT NEW YORK TIMES CO Communication Services 9.2% $53.2m 3.70m −0.8% reduced BP BP PLC Energy 8.2% $47.5m 1.38m +5.0% added GSK PLC no ticker – 7.6% $44.3m 1.05m +26% added HO1 HOLOGIC INC – 6.7% $39.1m 918,399 −23% reduced MBI MBIA INC Financial Services 6.4% $37.5m 4.43m +1.3% added BB BLACKBERRY LTD Technology 6.0% $35.1m 4.53m +3.9% added SEB SEABOARD CORP DEL Industrials 6.0% $34.7m 8,333 −0.4% held NYCBEUR NEW YORK CMNTY BANCORP INC – 4.9% $28.4m 2.03m −9.0% reduced PFE PFIZER INC Healthcare 3.9% $22.8m 667,633 −22% reduced PTEN PATTERSON-UTI ENERGY INC Energy 3.9% $22.7m 933,606 −4.8% reduced STL STERLING BANCORP DEL – 3.8% $21.8m 920,779 −9.0% reduced AGO ASSURED GUARANTY LTD Financial Services 2.5% $14.3m 385,130 – new NAM TAI PPTY INC no ticker – 2.3% $13.2m 1.92m −0.3% held VOXXGUSD VOXX INTL CORP – 1.6% $9.2m 1.76m +1.0% added STRAIGHT PATH COMMUNICATNS I no ticker – 1.3% $7.7m 212,806 −0.3% held IDT CORP CL B no ticker – 0.9% $5.2m 407,524 −12% reduced IDW MEDIA no ticker – 0.7% $3.9m 78,360 −0.4% held GENIE ENERGY no ticker – 0.5% $2.9m 404,201 −0.3% held NVS NOVARTIS AG Healthcare 0.4% $2.1m 27,911 +3.1% added NAVI NAVIENT CORPORATION Financial Services 0.3% $2.0m 135,493 −26% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.3% $1.6m 28,583 0.0% held EXMOC EXXON MOBIL CORP – 0.2% $1.4m 17,334 0.0% held IBM INTERNATIONAL BUSINESS MACHS Technology 0.2% $1.0m 5,783 −1.7% reduced ORI OLD REP INTL CORP Financial Services 0.2% $983k 48,000 0.0% held TPHS TRINITY PL HLDGS INC Real Estate 0.1% $864k 1.06m +0.1% held BAC BANK OF AMER CORP Financial Services 0.1% $652k 27,624 0.0% held CMCSA COMCAST CORP NEW Communication Services 0.1% $624k 27,017 +65% added ZDGE ZEDGE INC – 0.08% $479k 155,953 −0.2% held CVX CHEVRON CORPORATION Energy 0.08% $467k 4,348 0.0% held GE GENERAL ELECTRIC CO Industrials 0.08% $447k 15,000 0.0% held MONSANTO no ticker – 0.06% $362k 3,196 −52% reduced ASTORIA FINL CORP no ticker – 0.04% $229k 11,185 0.0% held AMERICAN TEL & TEL no ticker – 0.04% $205k 4,944 −3.0% reduced
Exited since Q4 2016 1 row
Stock Prior weight Prior value SLM CORP no ticker 0.08% $491k
Sector mix Unclassified 52.1% Energy 12.1% Financial Services 9.5% Communication Services 9.3% Technology 6.2% Industrials 6.1% Healthcare 4.6% Real Estate 0.1% 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