GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

106-Year Old Irving Kahn Portfolio: Buys GNE, NYB, C, PTEN, NYT

February 01, 2012 | About:
gurufocus

gurufocus

346 followers
106-Year Old value investor Irving Kahn just reported his fourth quarter portfolio. He buys New York Community Bancorp Inc., Genie Energy Ltd. Cl B, Citigroup Inc., PattersonUTI Energy Inc., New York Times Co. Cl A, Medco Health Solutions Inc., sells BristolMyers Squibb Co., Travelers Cos Inc. during the 3-months ended 12/31/2011, according to the most recent filings of his investment company, Kahn Brothers. As of 12/31/2011, Kahn Brothers owns 49 stocks with a total value of $509 million. These are the details of the buys and sells that have the impact to portfolio of more than .1%.

Kahn Brothers employs a bottom-up stock selection approach and invests in undervalued equity securities that are usually out of favor in the market. They usually analyze investments based on asset valuations, operating performance metrics and long-term fundamental business prospects. They also spend a considerable amount of effort evaluating the downside risk of every investment. He is quoted as saying: “I’m at the stage in life where I get a lot of pleasure out of finding a cheap stock,” adding that his research still pushes him to work evenings and weekends.

Kahn Brothers views the investment process as a combination of art and science. Each investment decision has both quantitative and qualitative aspects. A key element to outstanding investment performance is bringing these two factors together.

He is quoted as saying: “I’m at the stage in life where I get a lot of pleasure out of finding a cheap stock,” adding that his research still pushes him to work evenings and weekends. “There are a lot of opportunities out there, and one shouldn’t complain, unless you don’t have good health.”

This is the portfolio chart of Irving Kahn. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Irving Kahn's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Irving+Kahn

This is the sector weightings of his portfolio:

Health Care 34.4%
Financials 34.3%
Consumer Goods 8.8%
Consumer Services 5.8%
Oil & Gas 5.4%
Industrials 5.1%
Technology 2.3%
Telecom 1.4%
Utilities 1.1%
Not Assigned 1%
Basic Materials 0.1%


These are the top 5 holdings of Irving Kahn

  1. Pfizer Inc. (PFE) - 2,567,809 shares, 10.9% of the total portfolio. Shares reduced by 0.81%
  2. Merck & Co. Inc. (MRK) - 1,203,093 shares, 8.9% of the total portfolio. Shares reduced by 8.13%
  3. New York Community Bancorp Inc. (NYB) - 9,016,956 shares, 8.8% of the total portfolio. Shares added by 148.18%
  4. BristolMyers Squibb Co. (BMY) - 1,235,472 shares, 8.5% of the total portfolio. Shares reduced by 23.3%
  5. MBIA Inc. (MBI) - 2,990,471 shares, 6.8% of the total portfolio. Shares reduced by 1.29%

New Purchase: Genie Energy Ltd. Cl B (GNE)

Irving Kahn initiated holdings in Genie Energy Ltd. Cl B. His purchase prices were between $6.81 and $9.14, with an estimated average price of $7.5. The impact to his portfolio due to this purchase was 1%. His holdings were 671,065 shares as of 12/31/2011.

Added: New York Community Bancorp Inc. (NYB)

Irving Kahn added to his holdings in New York Community Bancorp Inc. by 148.18%. His purchase prices were between $11.32 and $13.49, with an estimated average price of $12.25. The impact to his portfolio due to this purchase was 5.25%. His holdings were 9,016,956 shares as of 12/31/2011.

Added: Citigroup Inc. (C)

Irving Kahn added to his holdings in Citigroup Inc. by 16.53%. His purchase prices were between $23.11 and $34.17, with an estimated average price of $27.82. The impact to his portfolio due to this purchase was 0.72%. His holdings were 989,682 shares as of 12/31/2011.

Added: Pattersonuti Energy Inc. (PTEN)

Irving Kahn added to his holdings in Pattersonuti Energy Inc. by 21.52%. His purchase prices were between $15.83 and $22.92, with an estimated average price of $19.96. The impact to his portfolio due to this purchase was 0.69%. His holdings were 992,060 shares as of 12/31/2011.

Added: New York Times Co. Cl A (NYT)

Irving Kahn added to his holdings in New York Times Co. Cl A by 7.66%. His purchase prices were between $5.67 and $7.9, with an estimated average price of $7.19. The impact to his portfolio due to this purchase was 0.38%. His holdings were 3,559,440 shares as of 12/31/2011.

Reduced: Bristolmyers Squibb Co. (BMY)

Irving Kahn reduced to his holdings in Bristolmyers Squibb Co. by 23.3%. His sale prices were between $30.15 and $35.29, with an estimated average price of $32.54. The impact to his portfolio due to this sale was -2.77%. Irving Kahn still held 1,235,472 shares as of 12/31/2011.

Reduced: Travelers Cos Inc. (TRV)

Irving Kahn reduced to his holdings in Travelers Cos Inc. by 21.9%. His sale prices were between $46.8 and $59.68, with an estimated average price of $55.46. The impact to his portfolio due to this sale was -0.17%. Irving Kahn still held 51,843 shares as of 12/31/2011.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 3.6/5 (15 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK