Funds › Kahn Brothers › Q4 2023Kahn Brothers 13F holdings, Q4 2023 Kahn Brothers disclosed 42 US equity positions worth $634.8m in its Q4 2023 13F filing. Its largest position is AGO at 11.6% of the reported book, followed by MRK and NYCBEUR. Versus Q3 2023 it opened 1 new position, added to 5, reduced 22 and exited 2.
$635m 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.
11.6% Largest position The largest single position as a share of the reported equity book.
81.6% 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 Q3 2023: 1 new , 5 added , 22 reduced , 2 exited
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Stock Sector Weight Value Shares Δ shares Action AGO ASSURED GUARANTY LTD Financial Services 11.6% $73.9m 987,372 −3.4% reduced MRK MERCK & CO. INC Healthcare 10.7% $68.1m 624,541 −2.2% reduced NYCBEUR NEW YORK CMNTY BANCORP INC – 9.9% $63.0m 6.16m −2.1% reduced C CITIGROUP INC Financial Services 9.8% $62.2m 1.21m −0.5% reduced BP BP PLC Energy 9.6% $60.7m 1.71m −3.4% reduced GSK PLC no ticker – 7.4% $46.7m 1.26m −1.8% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 6.7% $42.8m 833,916 −2.1% reduced PTEN PATTERSON-UTI ENERGY INC Energy 6.0% $37.8m 3.50m −3.8% reduced SEB SEABOARD CORP DEL Industrials 5.0% $32.0m 8,963 −5.4% reduced VOXXGUSD VOXX INTL CORP – 4.8% $30.7m 2.88m −0.5% reduced MBI MBIA INC Financial Services 4.7% $29.6m 4.83m +0.4% held PFE PFIZER INC Healthcare 4.7% $29.5m 1.03m −2.8% reduced IDT IDT CORP Communication Services 1.9% $11.8m 347,092 −0.6% reduced GNE GENIE ENERGY LTD Utilities 1.3% $8.3m 295,840 −0.6% reduced BAYER AG SPONS ADR no ticker – 1.0% $6.6m 712,500 – new HLN HALEON PLC Healthcare 0.8% $5.3m 645,675 −37% reduced WED WEBSTER FINL CORP – 0.8% $5.1m 101,073 −5.0% reduced BB BLACKBERRY LTD Technology 0.7% $4.4m 1.26m −8.9% reduced HO1 HOLOGIC INC – 0.3% $2.0m 28,491 0.0% held NVS NOVARTIS AG Healthcare 0.3% $1.8m 18,063 −16% reduced CSX CSX CORP Industrials 0.3% $1.7m 50,320 −0.2% held EXMOC EXXON MOBIL CORP – 0.2% $1.5m 15,223 −1.4% reduced BAC BANK OF AMER CORP Financial Services 0.2% $1.4m 40,985 +7.6% added JP MORGAN CHASE no ticker – 0.2% $982k 5,774 0.0% held FIRST NATL BK OF ALASKA no ticker – 0.1% $949k 4,770 0.0% held VTRS VIATRIS INC Healthcare 0.09% $567k 52,356 −24% reduced OGN ORGANON & CO Healthcare 0.08% $509k 35,310 −31% reduced VZ VERIZON COMMUNICATIONS INC Communication Services 0.08% $505k 13,397 +4.8% added CREW ENERGY no ticker – 0.08% $502k 145,780 0.0% held RFL RAFAEL HLDGS INC Real Estate 0.08% $498k 272,066 −0.4% held NAVI NAVIENT CORPORATION Financial Services 0.07% $434k 23,286 0.0% held NAM TAI PPTY INC no ticker – 0.06% $406k 85,530 −0.4% held CVX CHEVRON CORPORATION Energy 0.06% $365k 2,448 −25% reduced PEP PEPSICO INC Consumer Defensive 0.05% $323k 1,900 0.0% held PG PROCTER & GAMBLE CO Consumer Defensive 0.05% $293k 2,000 0.0% held T AT&T INC Communication Services 0.04% $281k 16,737 +152% added CMCSA COMCAST CORP NEW Communication Services 0.04% $281k 6,410 +2.2% added ZDGE ZEDGE INC – 0.04% $273k 115,977 −0.4% held TPHS TRINITY PL HLDGS INC Real Estate 0.03% $169k 1.52m +2.8% added PEYTO EXP & DEV no ticker – 0.03% $163k 17,807 0.0% held LWAY LIFEWAY FOODS INC Consumer Defensive 0.02% $134k 10,000 0.0% held IDW MEDIA no ticker – 0.0% $29.5k 66,132 −1.8% reduced
Exited since Q3 2023 2 rows
Stock Prior weight Prior value SEI INVESTMENTS no ticker 0.06% $398k VRAYQ VIEWRAY INC 0.0% $17.0k
Sector mix Financial Services 26.4% Unclassified 25.0% Healthcare 23.4% Energy 15.6% Industrials 5.3% Communication Services 2.0% Utilities 1.3% Technology 0.7% Consumer Defensive 0.1% 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