Funds › Kahn Brothers › Q1 2025Kahn Brothers 13F holdings, Q1 2025 Kahn Brothers disclosed 54 US equity positions worth $494.5m in its Q1 2025 13F filing. Its largest position is C at 12.6% of the reported book, followed by FLG and MRK. Versus Q4 2024 it opened 6 new positions, added to 6, reduced 30 and exited 3.
$494m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
54 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.
80.4% 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 Q4 2024: 6 new , 6 added , 30 reduced , 3 exited
50 of 54 Show all 54
Stock Sector Weight Value Shares Δ shares Action C CITIGROUP INC Financial Services 12.6% $62.2m 876,803 −3.3% reduced FLG FLAGSTAR BANK NATIONAL ASSOC Financial Services 9.9% $49.0m 4.22m +18% added MRK MERCK & CO. INC Healthcare 8.9% $44.2m 492,275 −3.3% reduced BAYER AG SPONS ADR no ticker – 8.0% $39.6m 6.57m +46% added BP BP PLC Energy 7.9% $38.9m 1.15m −3.5% reduced OGN ORGANON & CO Healthcare 7.5% $37.1m 2.49m +59% added BMY BRISTOL-MYERS SQUIBB CO Healthcare 7.4% $36.4m 597,428 −13% reduced DIS DISNEY WALT CO Communication Services 7.0% $34.4m 348,175 −1.4% reduced GSK PLC no ticker – 6.4% $31.9m 822,227 −7.1% reduced SEB SEABOARD CORP DEL Industrials 4.8% $23.8m 8,825 −2.1% reduced IDT IDT CORP Communication Services 3.8% $18.8m 365,536 +53% added PFE PFIZER INC Healthcare 3.8% $18.6m 735,189 −3.4% reduced AGO ASSURED GUARANTY LTD Financial Services 3.3% $16.4m 185,631 −35% reduced PTEN PATTERSON-UTI ENERGY INC Energy 3.2% $15.9m 1.94m −3.0% reduced GNE GENIE ENERGY LTD Utilities 0.6% $3.0m 202,608 −6.6% reduced NVS NOVARTIS AG Healthcare 0.5% $2.4m 21,909 +3.4% added HLN HALEON PLC Healthcare 0.4% $1.9m 184,309 −9.2% reduced WED WEBSTER FINL CORP – 0.3% $1.7m 32,254 −0.7% reduced EXMOC EXXON MOBIL CORP – 0.3% $1.6m 13,818 −1.1% reduced FIRST NATL BK OF ALASKA no ticker – 0.3% $1.5m 6,290 0.0% held FAIRFAX FINANCIAL no ticker – 0.3% $1.5m 1,018 0.0% held CSX CSX CORP Industrials 0.3% $1.4m 48,731 −2.2% reduced HO1 HOLOGIC INC – 0.2% $1.2m 19,757 −33% reduced AR ANTERO RESOURCES CORP Energy 0.2% $1.0m 24,906 −17% reduced TOURMANLINE OIL CORP no ticker – 0.2% $830k 17,209 −0.6% reduced BAC BANK OF AMER CORP Financial Services 0.1% $721k 17,275 −11% reduced JP MORGAN CHASE no ticker – 0.1% $703k 2,865 −2.9% reduced MSFT MICROSOFT CORP Technology 0.1% $691k 1,839 0.0% held AAPL APPLE INC Technology 0.1% $620k 2,792 0.0% held SEIC SEI INVESTMENTS CO Financial Services 0.1% $512k 6,596 +28% added IBM INTERNATIONAL BUSINESS MACHS Technology 0.08% $375k 1,508 0.0% held PEG PUBLIC SVC ENTERPRISE GROUP Utilities 0.07% $360k 4,374 −3.3% reduced VZ VERIZON COMMUNICATIONS INC Communication Services 0.07% $357k 7,863 −31% reduced COF CAPITAL ONE FINL CORP Financial Services 0.07% $353k 1,971 – new CVX CHEVRON CORPORATION Energy 0.07% $343k 2,053 – new AM ANTERO MIDSTREAM CORP Energy 0.07% $339k 18,856 0.0% held RFL RAFAEL HLDGS INC Real Estate 0.06% $303k 162,292 −3.1% reduced PG PROCTER & GAMBLE CO Consumer Defensive 0.06% $290k 1,700 0.0% held CI THE CIGNA GROUP Healthcare 0.06% $277k 841 −4.9% reduced PEP PEPSICO INC Consumer Defensive 0.05% $270k 1,800 0.0% held PNC PNC FINL SVCS GROUP INC Financial Services 0.05% $263k 1,497 −11% reduced NAVI NAVIENT CORPORATION Financial Services 0.05% $260k 20,600 −6.4% reduced WINDROCK LD CO no ticker – 0.05% $259k 569 – new PEYTO EXP & DEV no ticker – 0.05% $251k 19,807 0.0% held LWAY LIFEWAY FOODS INC Consumer Defensive 0.05% $244k 10,000 0.0% held DEUTSCHE BK AG no ticker – 0.05% $238k 10,000 0.0% held WEYS WEYCO GROUP INC – 0.04% $219k 7,197 – new BX BLACKSTONE INC Financial Services 0.04% $210k 1,500 – new AIG American International Group Financial Services 0.04% $204k 2,349 – new NAM TAI PPTY INC no ticker – 0.04% $204k 36,040 0.0% held
Exited since Q4 2024 3 rows
Stock Prior weight Prior value VOXXGUSD VOXX INTL CORP 0.2% $846k OBT ORANGE CNTY BANCORP INC 0.05% $222k MBI MBIA INC 0.01% $68.5k
Sector mix Healthcare 28.5% Financial Services 26.3% Unclassified 16.5% Energy 11.4% Communication Services 10.8% Industrials 5.1% Utilities 0.7% Technology 0.3% Consumer Defensive 0.2% Real Estate 0.07% Consumer Cyclical 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