Irving Kahn, the 104-year value investor, reported his second quarter portfolio. Maybe he sees the opportunities in BP, and he bought into the troubled company. These are the details of his buys and sells.
Like a lot of us, Kahn has seen good times and bad, bull markets and bear markets, recessions and recoveries. But he's also seen something most of us haven't: the Great Depression. Kahn, who still shows up at work every day and puts in a good six hours, worked as a stock analyst and brokerage clerk on Wall Street in the 1930s.
Irving Kahn buys Bp P.l.c., sells Usec Inc. during the 3-months ended 06/30/2010, according to the most recent filings of his investment company, Kahn Brothers & Company Inc.. Irving Kahn owns 57 stocks with a total value of $446 million. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Irving Kahn
Patterson is one of the providers of domestic land drillingservices to major & independent oil & natural gas companies. Pattersonuti Energy Inc. has a market cap of $2.19 billion; its shares were traded at around $14.22 with and P/S ratio of 2.8. The dividend yield of Pattersonuti Energy Inc. stocks is 1.41%. Pattersonuti Energy Inc. had an annual average earning growth of 17.8% over the past 10 years.
Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $108.68 billion; its shares were traded at around $3.75 with and P/S ratio of 1.19.
SLM Corporation is the one of nation's largest private sources of funding and servicing support for higher education loans for students and their parents. Slm Corp. has a market cap of $5.56 billion; its shares were traded at around $11.44 with a P/E ratio of 7.94 and P/S ratio of 1.17. Slm Corp. had an annual average earning growth of 9.8% over the past 10 years.
Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $128.41 billion; its shares were traded at around $15.92 with a P/E ratio of 7.17 and P/S ratio of 2.57. The dividend yield of Pfizer Inc stocks is 4.52%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
MBIA Incorporated is engaged in providing financial guaranteeinsurance and investment management and financial services to public finance clients and financial institutions on a global basis. Mbia Inc. has a market cap of $1.86 billion; its shares were traded at around $9.06 with and P/S ratio of 0.63.
Audiovox Corporation generally markets its products under the well-recognized Audiovox brand name. Audiovox Corp. has a market cap of $132.65 million; its shares were traded at around $6.43 with a P/E ratio of 18.37 and P/S ratio of 0.24.
BP p.l.c. is the holding company of one of the world's largest petroleum and petrochemicals groups. Bp P.l.c. has a market cap of $113.96 billion; its shares were traded at around $36.4 with a P/E ratio of 5.14 and P/S ratio of 0.46. Bp P.l.c. had an annual average earning growth of 20.3% over the past 10 years. GuruFocus rated Bp P.l.c. the business predictability rank of 3-star.
Novartis AG is committed to improving health and well-being through innovative products and services. Novartis Ag has a market cap of $116.11 billion; its shares were traded at around $50.75 with a P/E ratio of 11.08 and P/S ratio of 2.62. The dividend yield of Novartis Ag stocks is 3.26%. Novartis Ag had an annual average earning growth of 14.2% over the past 10 years. GuruFocus rated Novartis Ag the business predictability rank of 5-star.
USEC Inc., a global energy company, is a world leader in the production andsale of uranium fuel enrichment services for commercial nuclear power plants. Usec Inc. has a market cap of $584.37 million; its shares were traded at around $5.12 with a P/E ratio of 25.6 and P/S ratio of 0.29.
Like a lot of us, Kahn has seen good times and bad, bull markets and bear markets, recessions and recoveries. But he's also seen something most of us haven't: the Great Depression. Kahn, who still shows up at work every day and puts in a good six hours, worked as a stock analyst and brokerage clerk on Wall Street in the 1930s.
Irving Kahn buys Bp P.l.c., sells Usec Inc. during the 3-months ended 06/30/2010, according to the most recent filings of his investment company, Kahn Brothers & Company Inc.. Irving Kahn owns 57 stocks with a total value of $446 million. These are the details of the buys and sells.
- New Purchases: BP,
- Added Positions: C, MBI, PFE, PTEN, SLM, VOXX,
- Reduced Positions: NVS,
- Sold Out: USU,
This is the sector weightings of his portfolio:
| Financials | 42.7% |
| Health Care | 23.4% |
| Consumer Goods | 7.3% |
| Industrials | 6.1% |
| Consumer Services | 3.1% |
| Oil & Gas | 2.9% |
| Telecommunications | 1.8% |
| Technology | 0.5% |
| Utilities | 0.2% |
| Basic Materials | 0.1% |
These are the top 5 holdings of Irving Kahn
- New York Community Bancorp Inc. (NYB) - 4,062,237 shares, 13.9% of the total portfolio. Shares reduced by 0.14%
- Merck & Co. Inc. (MRK) - 1,495,463 shares, 11.72% of the total portfolio. Shares reduced by 0.76%
- BristolMyers Squibb Company (BMY) - 1,757,622 shares, 9.82% of the total portfolio. Shares reduced by 0.25%
- Pfizer Inc (PFE) - 2,617,223 shares, 8.36% of the total portfolio. Shares added by 5.47%
- Old Republic International Corp. (ORI) - 2,658,318 shares, 7.21% of the total portfolio.
Added: Pattersonuti Energy Inc. (PTEN, Financial)
Irving Kahn added to his holdings in Pattersonuti Energy Inc. by 181.12%. His purchase prices were between $12.46 and $15.64, with an estimated average price of $14.18. The impact to his portfolio due to this purchase was 1.11%. His holdings were 595,980 shares as of 06/30/2010.Patterson is one of the providers of domestic land drillingservices to major & independent oil & natural gas companies. Pattersonuti Energy Inc. has a market cap of $2.19 billion; its shares were traded at around $14.22 with and P/S ratio of 2.8. The dividend yield of Pattersonuti Energy Inc. stocks is 1.41%. Pattersonuti Energy Inc. had an annual average earning growth of 17.8% over the past 10 years.
Added: Citigroup Inc. (C, Financial)
Irving Kahn added to his holdings in Citigroup Inc. by 16.43%. His purchase prices were between $3.63 and $4.97, with an estimated average price of $4.15. The impact to his portfolio due to this purchase was 0.65%. His holdings were 5,478,692 shares as of 06/30/2010.Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $108.68 billion; its shares were traded at around $3.75 with and P/S ratio of 1.19.
Added: SLM Corp. (SLM, Financial)
Irving Kahn added to his holdings in SLM Corp. by 19.1%. His purchase prices were between $10.24 and $13.58, with an estimated average price of $11.88. The impact to his portfolio due to this purchase was 0.65%. His holdings were 1,735,279 shares as of 06/30/2010.SLM Corporation is the one of nation's largest private sources of funding and servicing support for higher education loans for students and their parents. Slm Corp. has a market cap of $5.56 billion; its shares were traded at around $11.44 with a P/E ratio of 7.94 and P/S ratio of 1.17. Slm Corp. had an annual average earning growth of 9.8% over the past 10 years.
Added: Pfizer Inc (PFE, Financial)
Irving Kahn added to his holdings in Pfizer Inc by 5.47%. His purchase prices were between $14.28 and $17.29, with an estimated average price of $15.97. The impact to his portfolio due to this purchase was 0.43%. His holdings were 2,617,223 shares as of 06/30/2010.Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $128.41 billion; its shares were traded at around $15.92 with a P/E ratio of 7.17 and P/S ratio of 2.57. The dividend yield of Pfizer Inc stocks is 4.52%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Added: Mbia Inc. (MBI, Financial)
Irving Kahn added to his holdings in Mbia Inc. by 6.88%. His purchase prices were between $5.67 and $10.55, with an estimated average price of $7.69. The impact to his portfolio due to this purchase was 0.24%. His holdings were 2,955,060 shares as of 06/30/2010.MBIA Incorporated is engaged in providing financial guaranteeinsurance and investment management and financial services to public finance clients and financial institutions on a global basis. Mbia Inc. has a market cap of $1.86 billion; its shares were traded at around $9.06 with and P/S ratio of 0.63.
Added: Audiovox Corp. (VOXX, Financial)
Irving Kahn added to his holdings in Audiovox Corp. by 3.46%. His purchase prices were between $7.38 and $9.73, with an estimated average price of $8.25. The impact to his portfolio due to this purchase was 0.11%. His holdings were 1,955,612 shares as of 06/30/2010.Audiovox Corporation generally markets its products under the well-recognized Audiovox brand name. Audiovox Corp. has a market cap of $132.65 million; its shares were traded at around $6.43 with a P/E ratio of 18.37 and P/S ratio of 0.24.
New Purchase: Bp P.l.c. (BP, Financial)
Irving Kahn initiated holdings in Bp P.l.c.. His purchase prices were between $27.02 and $60.57, with an estimated average price of $45.52. The impact to his portfolio due to this purchase was 0.34%. His holdings were 52,194 shares as of 06/30/2010.BP p.l.c. is the holding company of one of the world's largest petroleum and petrochemicals groups. Bp P.l.c. has a market cap of $113.96 billion; its shares were traded at around $36.4 with a P/E ratio of 5.14 and P/S ratio of 0.46. Bp P.l.c. had an annual average earning growth of 20.3% over the past 10 years. GuruFocus rated Bp P.l.c. the business predictability rank of 3-star.
Reduced: Novartis Ag (NVS, Financial)
Irving Kahn reduced to his holdings in Novartis Ag by 31.93%. His sale prices were between $43.78 and $53.83, with an estimated average price of $48.99. The impact to his portfolio due to this sale was -0.36%. Irving Kahn still held 104,244 shares as of 06/30/2010.Novartis AG is committed to improving health and well-being through innovative products and services. Novartis Ag has a market cap of $116.11 billion; its shares were traded at around $50.75 with a P/E ratio of 11.08 and P/S ratio of 2.62. The dividend yield of Novartis Ag stocks is 3.26%. Novartis Ag had an annual average earning growth of 14.2% over the past 10 years. GuruFocus rated Novartis Ag the business predictability rank of 5-star.
Sold Out: Usec Inc. (USU, Financial)
Irving Kahn sold out his holdings in Usec Inc.. His sale prices were between $4 and $6.42, with an estimated average price of $5.32.USEC Inc., a global energy company, is a world leader in the production andsale of uranium fuel enrichment services for commercial nuclear power plants. Usec Inc. has a market cap of $584.37 million; its shares were traded at around $5.12 with a P/E ratio of 25.6 and P/S ratio of 0.29.
