- Kahn Brothers’ 13F portfolio value decreased from ~$674M to ~$595M this quarter.
- New York Community Bank (NYCB) and Organon (OGN) stakes were increased substantially during the quarter.
- The portfolio continues to be very concentrated with the top five positions accounting for ~50% of the 13F holdings.
This article is part of a series that provides an ongoing
analysis of the changes made to Kahn Brothers’ 13F stock portfolio on a
quarterly basis. It is based on Kahn Brothers’ regulatory 13F
Form filed on 08/14/2024. Please visit our Tracking
Kahn Brothers Portfolio series to get an idea of their investment
philosophy and our last
update for the fund’s moves during Q1 2024.
This quarter, Kahn Brothers’ 13F portfolio value decreased
from ~$674M to ~$595M. The largest individual stock position is Citigroup (C)
which accounts for ~13% of the portfolio. The largest five positions are
Citigroup (C), Merck (MRK), BP plc (BP), GSK plc (GSK), and New York Community
Bancorp (NYCB). Together, they account for ~50% of the 13F portfolio.
Irving Kahn was a disciple of Benjamin Graham and is the
author of "Benjamin Graham The Father of Financial Analysis". He
was by far the oldest protégé (died 2/26/2015 at age 109) and one of the
closest followers of the original teachings of Benjamin Graham.
The spreadsheet below highlights changes to Kahn’s 13F stock
holdings in Q2 2024:
Source: John Vincent. Data constructed from Kahn Brothers’ 13F filings for Q1 2024 and Q2 2024.
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