Funds › Kahn Brothers › Q2 2020Kahn Brothers 13F holdings, Q2 2020 Kahn Brothers disclosed 47 US equity positions worth $591.8m in its Q2 2020 13F filing. Its largest position is MERCK at 12.1% of the reported book, followed by GSK PLC and BMY. Versus Q1 2020 it opened 0 new positions, added to 4, reduced 25 and exited 1.
$592m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
47 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
12.1% Largest position The largest single position as a share of the reported equity book.
80.5% 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 Q1 2020: 0 new , 4 added , 25 reduced , 1 exited
47 rows
Stock Sector Weight Value Shares Δ shares Action MERCK no ticker – 12.1% $71.5m 924,984 −10% reduced GSK PLC no ticker – 10.5% $62.2m 1.52m −1.7% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 10.1% $59.7m 1.02m −1.0% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 8.9% $52.5m 5.15m −1.4% reduced CITIGROUP no ticker – 8.1% $47.7m 933,715 −0.9% reduced BP BP PLC Energy 7.5% $44.5m 1.91m +17% added AGO ASSURED GUARANTY LTD Financial Services 6.4% $37.6m 1.54m +5.2% added SEB SEABOARD CORP DEL Industrials 6.2% $36.5m 12,446 −2.0% reduced MBI MBIA INC Financial Services 6.1% $36.1m 4.98m −2.5% reduced BB BLACKBERRY LTD Technology 4.7% $27.9m 5.71m −1.8% reduced PFE PFIZER INC Healthcare 4.2% $25.0m 764,516 −0.8% reduced VOXXGUSD VOXX INTL CORP – 3.6% $21.6m 3.74m −0.4% held PTEN PATTERSON-UTI ENERGY INC Energy 3.4% $20.2m 5.83m +93% added NAM TAI PPTY INC no ticker – 2.0% $11.8m 1.88m −4.3% reduced RFL RAFAEL HLDGS INC Real Estate 1.0% $6.0m 420,296 −1.8% reduced HO1 HOLOGIC INC – 0.8% $4.7m 82,519 −69% reduced IDT CORP CL B no ticker – 0.8% $4.5m 682,290 −1.7% reduced STL STERLING BANCORP DEL – 0.7% $4.3m 369,505 −0.9% reduced GENIE ENERGY no ticker – 0.5% $3.1m 424,297 −5.4% reduced TPHS TRINITY PL HLDGS INC Real Estate 0.4% $2.2m 1.56m −0.8% reduced NVS NOVARTIS AG Healthcare 0.3% $2.0m 22,698 −2.2% reduced VRAYQ VIEWRAY INC Healthcare 0.2% $1.4m 605,550 0.0% held FIRST NATL BK OF ALASKA no ticker – 0.2% $1.3m 6,810 0.0% held VZ VERIZON COMMUNICATIONS INC Communication Services 0.2% $993k 18,015 0.0% held EXMOC EXXON MOBIL CORP – 0.1% $810k 18,120 −5.2% reduced BRK/B BERKSHIRE HATHAWAY INC DEL – 0.1% $594k 3,325 0.0% held AMERICAN TEL & TEL no ticker – 0.09% $519k 16,496 +0.8% added BAC BANK OF AMER CORP Financial Services 0.07% $422k 17,783 0.0% held SB ONE BANCORP no ticker – 0.07% $399k 20,245 0.0% held OBT ORANGE CNTY BANCORP INC – 0.07% $390k 16,400 0.0% held IDW MEDIA no ticker – 0.06% $376k 94,110 −2.0% reduced JP MORGAN CHASE no ticker – 0.06% $366k 3,888 −1.2% reduced CMCSA COMCAST CORP NEW Communication Services 0.06% $339k 8,688 0.0% held HOPE HOPE BANCORP INC Financial Services 0.05% $294k 31,920 0.0% held COAL CREEK MINING no ticker – 0.05% $267k 813 −25% reduced PEP PEPSICO INC Consumer Defensive 0.04% $265k 2,000 −4.8% reduced CVX CHEVRON CORPORATION Energy 0.04% $263k 2,948 −13% reduced ZDGE ZEDGE INC – 0.04% $236k 159,581 −2.3% reduced GBCI GLACIER BANCORP INC NEW Financial Services 0.04% $221k 6,265 0.0% held NAVI NAVIENT CORPORATION Financial Services 0.03% $178k 25,286 0.0% held KEY KEYCORP Financial Services 0.02% $138k 11,364 −0.2% held AAPL APPLE INC Technology 0.02% $109k 300 0.0% held NYT NEW YORK TIMES CO Communication Services 0.01% $63.0k 1,500 0.0% held PEYTO EXP & DEV no ticker – 0.01% $46.0k 35,000 0.0% held CREW ENERGY no ticker – 0.01% $40.0k 182,000 0.0% held LWAY LIFEWAY FOODS INC Consumer Defensive 0.0% $22.8k 10,000 0.0% held VHIUSD VALHI INC NEW – 0.0% $9.1k 864 −92% reduced
Exited since Q1 2020 1 row
Stock Prior weight Prior value ALC ALCON INC 0.04% $202k
Sector mix Unclassified 48.9% Healthcare 14.9% Financial Services 12.7% Energy 11.0% Industrials 6.2% Technology 4.7% Real Estate 1.4% 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