Funds › Kahn Brothers › Q3 2019Kahn Brothers 13F holdings, Q3 2019 Kahn Brothers disclosed 48 US equity positions worth $797.6m in its Q3 2019 13F filing. Its largest position is MERCK at 11.3% of the reported book, followed by CITIGROUP and AGO. Versus Q2 2019 it opened 4 new positions, added to 18, reduced 11 and exited 0.
$798m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
48 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
11.3% Largest position The largest single position as a share of the reported equity book.
78.9% 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 2019: 4 new , 18 added , 11 reduced , 0 exited
48 rows
Stock Sector Weight Value Shares Δ shares Action MERCK no ticker – 11.3% $90.1m 2.02m −81% reduced CITIGROUP no ticker – 9.2% $73.3m 1.06m −3.8% reduced AGO ASSURED GUARANTY LTD Financial Services 8.8% $70.0m 1.57m +0.5% added NYCBEUR NEW YORK CMNTY BANCORP INC – 8.7% $69.6m 5.54m +1.4% added GSK PLC no ticker – 8.7% $69.2m 1.62m +1.0% added BP BP PLC Energy 8.0% $63.7m 1.68m +0.1% held SEB SEABOARD CORP DEL Industrials 7.3% $57.8m 13,221 −0.2% held BMY BRISTOL-MYERS SQUIBB CO Healthcare 6.8% $54.4m 1.07m +5.4% added MBI MBIA INC Financial Services 6.5% $51.6m 5.59m −0.4% held BB BLACKBERRY LTD Technology 3.7% $29.7m 5.66m +1.7% added PFE PFIZER INC Healthcare 3.7% $29.2m 811,787 +0.7% added PTEN PATTERSON-UTI ENERGY INC Energy 2.9% $23.1m 2.70m +37% added NAM TAI PPTY INC no ticker – 2.5% $19.8m 2.20m −1.6% reduced VOXXGUSD VOXX INTL CORP – 2.4% $19.1m 4.07m +2.5% added HO1 HOLOGIC INC – 2.0% $15.6m 309,837 −8.8% reduced NYT NEW YORK TIMES CO Communication Services 1.2% $9.7m 340,826 −28% reduced STL STERLING BANCORP DEL – 1.2% $9.4m 468,122 −10% reduced RFL RAFAEL HLDGS INC Real Estate 1.1% $9.1m 434,660 +0.6% added IDT CORP CL B no ticker – 0.9% $7.4m 706,216 −19% reduced TPHS TRINITY PL HLDGS INC Real Estate 0.8% $6.4m 1.61m −0.4% held GENIE ENERGY no ticker – 0.4% $3.5m 464,704 +1.2% added NVS NOVARTIS AG Healthcare 0.3% $2.2m 25,773 0.0% held FIRST NATL BK OF ALASKA no ticker – 0.2% $1.6m 6,810 0.0% held IDW MEDIA no ticker – 0.2% $1.4m 97,300 +0.4% held EXMOC EXXON MOBIL CORP – 0.2% $1.4m 19,120 +0.8% added VZ VERIZON COMMUNICATIONS INC Communication Services 0.2% $1.3m 21,759 +160% added VRAYQ VIEWRAY INC Healthcare 0.1% $985k 339,800 +202% added AMERICAN TEL & TEL no ticker – 0.09% $696k 18,395 +22% added BRK/B BERKSHIRE HATHAWAY INC DEL – 0.09% $686k 3,300 +3.1% added GBCI GLACIER BANCORP INC NEW Financial Services 0.07% $590k 14,571 −21% reduced CVX CHEVRON CORPORATION Energy 0.07% $519k 4,376 −4.4% reduced BAC BANK OF AMER CORP Financial Services 0.07% $519k 17,763 +25% added HOPE HOPE BANCORP INC Financial Services 0.06% $458k 31,920 0.0% held SB ONE BANCORP no ticker – 0.06% $457k 20,245 0.0% held OBT ORANGE CNTY BANCORP INC – 0.06% $455k 16,400 0.0% held COAL CREEK MINING no ticker – 0.04% $334k 983 0.0% held NAVI NAVIENT CORPORATION Financial Services 0.04% $326k 12,800 −50% reduced CMCSA COMCAST CORP NEW Communication Services 0.04% $309k 6,858 +14% added PEP PEPSICO INC Consumer Defensive 0.04% $288k 2,100 – new ALC ALCON INC Healthcare 0.04% $285k 4,876 −5.3% reduced ZDGE ZEDGE INC – 0.04% $284k 170,043 +1.0% added KEY KEYCORP Financial Services 0.03% $220k 12,349 – new ED CONSOLIDATED EDISON INC Utilities 0.02% $158k 1,674 0.0% held AAPL APPLE INC Technology 0.01% $112k 500 – new CREW ENERGY no ticker – 0.01% $96.8k 189,500 0.0% held PEYTO EXP & DEV no ticker – 0.01% $88.3k 35,000 – new LWAY LIFEWAY FOODS INC Consumer Defensive 0.0% $21.9k 10,000 0.0% held VHIUSD VALHI INC NEW – 0.0% $19.7k 10,368 0.0% held
Sector mix Unclassified 48.2% Financial Services 15.5% Energy 10.9% Healthcare 10.9% Industrials 7.3% Technology 3.7% Real Estate 1.9% Communication Services 1.4% Consumer Defensive 0.04% Utilities 0.02% 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