Funds › Kahn Brothers › Q3 2020Kahn Brothers 13F holdings, Q3 2020 Kahn Brothers disclosed 42 US equity positions worth $527.5m in its Q3 2020 13F filing. Its largest position is MERCK at 12.6% of the reported book, followed by BMY and GSK PLC. Versus Q2 2020 it opened 2 new positions, added to 4, reduced 30 and exited 7.
$528m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
42 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
12.6% Largest position The largest single position as a share of the reported equity book.
77.6% 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 2020: 2 new , 4 added , 30 reduced , 7 exited
42 rows
Stock Sector Weight Value Shares Δ shares Action MERCK no ticker – 12.6% $66.6m 802,809 −13% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 10.7% $56.4m 935,977 −7.9% reduced GSK PLC no ticker – 10.0% $52.9m 1.41m −7.3% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 7.5% $39.8m 4.81m −6.6% reduced CITIGROUP no ticker – 7.0% $36.7m 851,141 −8.8% reduced AGO ASSURED GUARANTY LTD Financial Services 6.7% $35.4m 1.65m +6.8% added BP BP PLC Energy 6.5% $34.5m 1.98m +3.5% added SEB SEABOARD CORP DEL Industrials 6.0% $31.7m 11,170 −10% reduced MBI MBIA INC Financial Services 5.3% $28.2m 4.65m −6.7% reduced VOXXGUSD VOXX INTL CORP – 5.1% $27.2m 3.53m −5.5% reduced PFE PFIZER INC Healthcare 4.8% $25.4m 692,544 −9.4% reduced BB BLACKBERRY LTD Technology 4.7% $25.0m 5.44m −4.8% reduced PTEN PATTERSON-UTI ENERGY INC Energy 3.7% $19.3m 6.78m +16% added NAM TAI PPTY INC no ticker – 3.1% $16.1m 1.72m −8.5% reduced RFL RAFAEL HLDGS INC Real Estate 1.2% $6.4m 395,741 −5.8% reduced IDT CORP CL B no ticker – 0.8% $4.4m 667,672 −2.1% reduced GENIE ENERGY no ticker – 0.6% $3.3m 410,978 −3.1% reduced STL STERLING BANCORP DEL – 0.6% $3.2m 301,014 −19% reduced HO1 HOLOGIC INC – 0.5% $2.8m 42,446 −49% reduced NVS NOVARTIS AG Healthcare 0.4% $2.0m 22,698 0.0% held TPHS TRINITY PL HLDGS INC Real Estate 0.4% $1.9m 1.32m −15% reduced VRAYQ VIEWRAY INC Healthcare 0.3% $1.5m 428,055 −29% reduced VZ VERIZON COMMUNICATIONS INC Communication Services 0.2% $957k 16,094 −11% reduced FIRST NATL BK OF ALASKA no ticker – 0.2% $949k 4,770 −30% reduced BRK/B BERKSHIRE HATHAWAY INC DEL – 0.1% $692k 3,250 −2.3% reduced EXMOC EXXON MOBIL CORP – 0.1% $622k 18,120 0.0% held AMERICAN TEL & TEL no ticker – 0.08% $430k 15,095 −8.5% reduced IDW MEDIA no ticker – 0.07% $367k 91,635 −2.6% reduced JP MORGAN CHASE no ticker – 0.07% $345k 3,581 −7.9% reduced BAC BANK OF AMER CORP Financial Services 0.06% $342k 14,207 −20% reduced PFS PROVIDENT FINL SVCS INC Financial Services 0.06% $335k 27,472 – new CMCSA COMCAST CORP NEW Communication Services 0.05% $286k 6,181 −29% reduced CVX CHEVRON CORPORATION Energy 0.05% $284k 3,948 +34% added PEP PEPSICO INC Consumer Defensive 0.05% $277k 2,000 0.0% held HOPE HOPE BANCORP INC Financial Services 0.04% $235k 31,000 −2.9% reduced ZDGE ZEDGE INC – 0.04% $221k 151,214 −5.2% reduced NAVI NAVIENT CORPORATION Financial Services 0.04% $197k 23,286 −7.9% reduced KEY KEYCORP Financial Services 0.02% $131k 10,973 −3.4% reduced DEUTSCHE BK AG no ticker – 0.02% $84.0k 10,000 – new PEYTO EXP & DEV no ticker – 0.01% $65.3k 35,000 0.0% held LWAY LIFEWAY FOODS INC Consumer Defensive 0.01% $50.3k 10,000 0.0% held CREW ENERGY no ticker – 0.01% $47.3k 182,000 0.0% held
Exited since Q2 2020 7 rows
Stock Prior weight Prior value SB ONE BANCORP no ticker 0.07% $399k OBT ORANGE CNTY BANCORP INC 0.07% $390k COAL CREEK MINING no ticker 0.05% $267k GBCI GLACIER BANCORP INC NEW 0.04% $221k AAPL APPLE INC 0.02% $109k NYT NEW YORK TIMES CO 0.01% $63.0k VHIUSD VALHI INC NEW 0.0% $9.1k
Sector mix Unclassified 48.7% Healthcare 16.2% Financial Services 12.3% Energy 10.3% Industrials 6.0% Technology 4.7% Real Estate 1.6% Communication Services 0.2% Consumer Defensive 0.06% 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