Funds › Kahn Brothers › Q1 2020Kahn Brothers 13F holdings, Q1 2020 Kahn Brothers disclosed 48 US equity positions worth $546.7m in its Q1 2020 13F filing. Its largest position is MERCK at 14.1% of the reported book, followed by GSK PLC and BMY. Versus Q4 2019 it opened 1 new position, added to 5, reduced 26 and exited 0.
$547m 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.
14.1% Largest position The largest single position as a share of the reported equity book.
83.4% Top 10 weight The ten largest positions together, as a share of the reported equity book.
13 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 2019: 1 new , 5 added , 26 reduced , 0 exited
48 rows
Stock Sector Weight Value Shares Δ shares Action MERCK no ticker – 14.1% $76.9m 1.03m −0.8% reduced GSK PLC no ticker – 10.7% $58.5m 1.54m −2.8% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 10.5% $57.2m 1.03m −2.6% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 9.0% $49.0m 5.22m −2.9% reduced BP BP PLC Energy 7.3% $39.7m 1.63m +0.3% held CITIGROUP no ticker – 7.3% $39.7m 941,823 −6.5% reduced AGO ASSURED GUARANTY LTD Financial Services 6.9% $37.8m 1.47m −3.9% reduced MBI MBIA INC Financial Services 6.7% $36.5m 5.11m −5.4% reduced SEB SEABOARD CORP DEL Industrials 6.5% $35.7m 12,706 −1.0% reduced PFE PFIZER INC Healthcare 4.6% $25.1m 770,316 −4.9% reduced BB BLACKBERRY LTD Technology 4.4% $24.0m 5.82m +0.1% held NAM TAI PPTY INC no ticker – 2.0% $10.8m 1.97m −6.6% reduced VOXXGUSD VOXX INTL CORP – 2.0% $10.7m 3.75m −2.5% reduced HO1 HOLOGIC INC – 1.7% $9.4m 266,505 −9.5% reduced PTEN PATTERSON-UTI ENERGY INC Energy 1.3% $7.1m 3.02m +16% added RFL RAFAEL HLDGS INC Real Estate 1.0% $5.6m 428,017 −0.6% reduced STL STERLING BANCORP DEL – 0.7% $3.9m 372,701 −1.6% reduced IDT CORP CL B no ticker – 0.7% $3.8m 693,812 −0.6% reduced TPHS TRINITY PL HLDGS INC Real Estate 0.5% $2.9m 1.58m −1.4% reduced NVS NOVARTIS AG Healthcare 0.3% $1.9m 23,198 −10.0% reduced VRAYQ VIEWRAY INC Healthcare 0.3% $1.5m 605,550 +13% added FIRST NATL BK OF ALASKA no ticker – 0.3% $1.4m 6,810 0.0% held VZ VERIZON COMMUNICATIONS INC Communication Services 0.2% $968k 18,015 −8.3% reduced EXMOC EXXON MOBIL CORP – 0.1% $726k 19,120 0.0% held BRK/B BERKSHIRE HATHAWAY INC DEL – 0.1% $608k 3,325 +0.8% added IDW MEDIA no ticker – 0.09% $485k 96,010 −0.4% held AMERICAN TEL & TEL no ticker – 0.09% $477k 16,360 −10% reduced GENIE ENERGY no ticker – 0.08% $437k 448,591 0.0% held OBT ORANGE CNTY BANCORP INC – 0.07% $406k 16,400 0.0% held BAC BANK OF AMER CORP Financial Services 0.07% $378k 17,783 +0.1% held JP MORGAN CHASE no ticker – 0.06% $354k 3,935 – new SB ONE BANCORP no ticker – 0.06% $344k 20,245 0.0% held CMCSA COMCAST CORP NEW Communication Services 0.05% $299k 8,688 −2.3% reduced HOPE HOPE BANCORP INC Financial Services 0.05% $262k 31,920 0.0% held COAL CREEK MINING no ticker – 0.05% $254k 1,084 +33% added PEP PEPSICO INC Consumer Defensive 0.05% $252k 2,100 0.0% held CVX CHEVRON CORPORATION Energy 0.04% $245k 3,376 −23% reduced GBCI GLACIER BANCORP INC NEW Financial Services 0.04% $213k 6,265 0.0% held ALC ALCON INC Healthcare 0.04% $202k 3,956 −17% reduced NAVI NAVIENT CORPORATION Financial Services 0.04% $192k 25,286 +85% added ZDGE ZEDGE INC – 0.03% $144k 163,421 −0.8% reduced KEY KEYCORP Financial Services 0.02% $118k 11,392 0.0% held AAPL APPLE INC Technology 0.01% $76.3k 300 −71% reduced NYT NEW YORK TIMES CO Communication Services 0.01% $46.1k 1,500 −100% reduced PEYTO EXP & DEV no ticker – 0.01% $36.6k 35,000 0.0% held CREW ENERGY no ticker – 0.0% $25.5k 182,000 −4.0% reduced LWAY LIFEWAY FOODS INC Consumer Defensive 0.0% $19.2k 10,000 0.0% held VHIUSD VALHI INC NEW – 0.0% $10.7k 10,368 0.0% held
Sector mix Unclassified 49.1% Healthcare 15.7% Financial Services 13.8% Energy 8.6% Industrials 6.5% Technology 4.4% Real Estate 1.6% Communication Services 0.2% Consumer Defensive 0.05% 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