- Kahn Brothers’ 13F portfolio
value increased from ~$635M to ~$674M this quarter.
- Most of the stakes saw minor
adjustments during the quarter.
- The portfolio continues to be
very concentrated with the top five positions accounting for ~53% 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 5/15/2024. 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 Q4 2023.
This quarter, Kahn Brothers’ 13F portfolio value increased
from ~$635M to ~$674M. The largest individual stock position is Assured
Guaranty (AGO) which accounts for ~13% of the portfolio. The largest five
positions are Assured Guaranty (AGO), Merck (MRK), Citigroup (C), BP plc (BP),
and GSK plc (GSK). Together, they account for ~53% 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 Q1 2024:
Source: John Vincent. Data constructed from Kahn Brothers’
13F filings for Q4 2023 and Q1 2024.
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