Funds › Kahn Brothers › Q2 2025Kahn Brothers 13F holdings, Q2 2025 Kahn Brothers disclosed 50 US equity positions worth $497.9m in its Q2 2025 13F filing. Its largest position is C at 15.2% of the reported book, followed by BAYER AG SPONS ADR and DIS. Versus Q1 2025 it opened 7 new positions, added to 12, reduced 16 and exited 11.
$498m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
50 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
15.2% Largest position The largest single position as a share of the reported equity book.
81.3% 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 2025: 7 new , 12 added , 16 reduced , 11 exited
50 rows
Stock Sector Weight Value Shares Δ shares Action C CITIGROUP INC Financial Services 15.2% $75.5m 886,688 +1.1% added BAYER AG SPONS ADR no ticker – 10.2% $50.7m 6.73m +2.4% added DIS DISNEY WALT CO Communication Services 9.8% $48.7m 392,450 +13% added FLG FLAGSTAR BANK NATIONAL ASSOC Financial Services 9.2% $45.8m 4.32m +2.5% added MRK MERCK & CO. INC Healthcare 7.8% $38.8m 490,465 −0.4% held BP BP PLC Energy 6.8% $33.8m 1.13m −1.8% reduced OGN ORGANON & CO Healthcare 6.8% $33.8m 3.49m +40% added IDT IDT CORP Communication Services 5.4% $27.1m 396,564 +8.5% added BMY BRISTOL-MYERS SQUIBB CO Healthcare 5.1% $25.5m 550,683 −7.8% reduced GSK GSK PLC Healthcare 5.1% $25.3m 659,872 – new SEB SEABOARD CORP DEL Industrials 5.0% $24.7m 8,623 −2.3% reduced PFE PFIZER INC Healthcare 3.6% $17.7m 730,989 −0.6% reduced PTEN PATTERSON-UTI ENERGY INC Energy 2.3% $11.4m 1.92m −1.0% reduced GOOG ALPHABET INC Communication Services 1.3% $6.6m 71,091 – new GNE GENIE ENERGY LTD Utilities 1.1% $5.3m 198,999 −1.8% reduced AGO ASSURED GUARANTY LTD Financial Services 0.8% $3.8m 43,986 −76% reduced NVS NOVARTIS AG Healthcare 0.4% $2.2m 18,471 −16% reduced EXMOC EXXON MOBIL CORP – 0.4% $2.1m 19,143 +39% added FAIRFAX FINL HLDGS LTD SUB VTG no ticker – 0.4% $1.8m 1,018 0.0% held WED WEBSTER FINL CORP – 0.3% $1.6m 30,089 −6.7% reduced FIRST NATL BK ALASKA COM no ticker – 0.3% $1.6m 6,290 0.0% held TOURMALINE OIL CORP COM no ticker – 0.3% $1.3m 27,959 +62% added CSX CSX CORP Industrials 0.3% $1.3m 40,731 −16% reduced HLN HALEON PLC Healthcare 0.2% $1.2m 118,437 −36% reduced AR ANTERO RESOURCES CORP Energy 0.2% $1.0m 24,906 0.0% held MSFT MICROSOFT CORP Technology 0.2% $948k 1,905 +3.6% added JPM JPMORGAN CHASE & CO Financial Services 0.2% $805k 2,775 – new AAPL APPLE INC Technology 0.1% $614k 2,992 +7.2% added SEIC SEI INVESTMENTS CO Financial Services 0.1% $593k 6,596 0.0% held BAC BANK OF AMER CORP Financial Services 0.1% $562k 11,887 −31% reduced PEYTO EXPL & DEV CORP NEW COM no ticker – 0.09% $461k 32,307 +63% added IBM INTERNATIONAL BUSINESS MACHS Technology 0.09% $445k 1,508 0.0% held AM ANTERO MIDSTREAM CORP Energy 0.07% $357k 18,856 0.0% held ZDGE ZEDGE INC – 0.07% $340k 84,781 −1.0% reduced VZ VERIZON COMMUNICATIONS INC Communication Services 0.07% $334k 7,715 −1.9% reduced PEG PUBLIC SVC ENTERPRISE GROUP Utilities 0.06% $305k 3,624 −17% reduced CVX CHEVRON CORPORATION Energy 0.06% $294k 2,053 0.0% held DEUTSCHE BK AG no ticker – 0.06% $293k 10,000 0.0% held NAVI NAVIENT CORPORATION Financial Services 0.06% $290k 20,600 0.0% held PG PROCTER & GAMBLE CO Consumer Defensive 0.06% $282k 1,767 +3.9% added PNC PNC FINL SVCS GROUP INC Financial Services 0.06% $279k 1,497 0.0% held RFL RAFAEL HLDGS INC Real Estate 0.06% $279k 161,032 −0.8% reduced WINDROCK LTD CO no ticker – 0.05% $259k 569 0.0% held PINE CLIFF ENERGY LTD COM no ticker – 0.05% $245k 530,000 – new PEP PEPSICO INC Consumer Defensive 0.05% $238k 1,800 0.0% held CMCSA COMCAST CORP NEW Communication Services 0.05% $228k 6,380 – new BX BLACKSTONE INC Financial Services 0.05% $224k 1,500 0.0% held OBT ORANGE CNTY BANCORP INC – 0.04% $207k 8,000 – new AIG American International Group Financial Services 0.04% $201k 2,349 0.0% held TRINITY PL HLDGS INC no ticker – 0.0% $6.7k 166,999 – new
Exited since Q1 2025 Sector mix Healthcare 29.0% Financial Services 25.7% Communication Services 16.7% Unclassified 12.3% Energy 9.4% Industrials 5.2% Utilities 1.1% Technology 0.4% Consumer Defensive 0.1% Real Estate 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