Insightful Analysis of Kahn Brothers (Trades, Portfolio)' Latest 13F Filing
Kahn Brothers (Trades, Portfolio), a distinguished investment firm founded in 1978, continues to navigate the financial markets with a deep-rooted philosophy in value investing. The firm, established by Irving Kahn and his associates, leverages a bottom-up stock selection approach, focusing on undervalued equity securities. Kahn Brothers (Trades, Portfolio) Advisors LLC, the investment management arm, along with Kahn Brothers (Trades, Portfolio) LLC, a member of the New York Stock Exchange, collectively uphold a legacy of expertise exceeding a century, originally inspired by Benjamin Graham's principles.
Summary of New Buys
Kahn Brothers (Trades, Portfolio) strategically expanded its portfolio by adding 13 new stocks in the first quarter of 2024. Noteworthy new positions include:
- The Walt Disney Co (DIS, Financial), acquiring 93,932 shares, making up 1.7% of the portfolio, valued at $11.49 million.
- Fairfax Financial Holdings Ltd (FRFHF, Financial), with 1,018 shares, representing 0.16% of the portfolio, totaling $1.098 million.
- Antero Resources Corp (AR, Financial), adding 30,156 shares, accounting for 0.13% of the portfolio, with a value of $875,000.
Key Position Increases
During the same period, Kahn Brothers (Trades, Portfolio) increased its holdings in six stocks, with significant adjustments in:
- Organon & Co (OGN, Financial), where an additional 1,144,894 shares were purchased, bringing the total to 1,180,204 shares. This adjustment marks a 3,242.41% increase in share count and a 3.19% impact on the current portfolio, valued at $22.19 million.
- Bayer AG (BAYRY, Financial), with an additional 2,386,640 shares, resulting in a total of 3,099,140 shares. This represents a 334.97% increase in share count, valued at $23.74 million.
Key Position Reductions
Conversely, Kahn Brothers (Trades, Portfolio) reduced its position in 27 stocks. The most significant reductions include:
- Patterson-UTI Energy Inc (PTEN, Financial), with a reduction of 847,666 shares, leading to a 24.22% decrease in shares and a 1.44% impact on the portfolio. The stock traded at an average price of $11.11 during the quarter and has returned -5.60% over the past three months and 2.70% year-to-date.
- BP PLC (BP, Financial), with a reduction of 48,234 shares, resulting in a 2.81% decrease in shares and a 0.27% impact on the portfolio. The stock traded at an average price of $35.86 during the quarter and has returned 6.02% over the past three months and 7.97% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Kahn Brothers (Trades, Portfolio)' portfolio comprised 53 stocks. The top holdings included 12.56% in Assured Guaranty Ltd (AGO, Financial), 12.01% in Merck & Co Inc (MRK, Financial), 11.25% in Citigroup Inc (C, Financial), 9.31% in BP PLC (BP), and 7.97% in GSK PLC (GSK, Financial). The holdings are predominantly concentrated across 10 of the 11 industries, including Healthcare, Financial Services, Energy, Industrials, and more.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
