Irving Kahn, along with brothers Alan and Thomas, founded Kahn Brothers (Trades, Portfolio) & Company, Inc., in 1978. The firm is a money manager and Registered Investment Advisor. Its principals manage approximately $1 billion of institutional and private funds.
Its portfolio is composed of 40 stocks and has a total value of $593 million and the following are the most heavily weighted trades the hedge fund closed during the Q2 2015.
It reduced its stake in Old Republic International Corporation. (ORI) by 40.49% with an impact of 1.92% on its portfolio; after this sale it holds 1,115,157 shares of the company (0.43% of outstanding shares) at an average price of $11.26/share. The investment is giving to the hedge fund a total gain of 54%.
The company is engaged in the single business of insurance underwriting. It conducts its operations through insurance company subsidiaries organized into three major segments, namely, it's General Insurance Group (property and liability insurance), Title Insurance Group, and the Republic Financial Indemnity Group (mortgage guaranty and consumer credit indemnity) runoff business.
ORI is trading with a P/E of 14.98 that is ranked lower than 58% of the 114 companies in the Global Insurance - Diversified industry which has an average P/E ratio of 13.60.
During the last 12 months the stock has risen by 12% and is now trading -0.06% from its 52-week high and +23.68% from its 52-week low.
The main hedge-fund holding the company is HOTCHKIS & WILEY (with 1.25% of outstanding shares), followed by Chuck Royce (Trades, Portfolio) (0.65%) and Kahn Brothers (Trades, Portfolio) (0.43% of outstanding shares).
It increased its stake in MBIA Inc (MBI) by 76.47% with an impact of 1.52% on its portfolio and after this buy it holds 3,461,356 shares of the company (1.91% of outstanding shares) at an average price of $8.97/share. The investment is giving to the fund a total gain of 16%.
The company, together with its consolidated subsidiaries, operates financial guarantee insurance business and is a provider of asset management and advisory services business. These activities are managed through three business segments: United States public finance insurance; structured finance and international insurance; and advisory services.
MBI is trading with a P/E of 3.78 that is ranked higher than 97% of the 111 companies in the Global Insurance - Property & Casualty industry which has an average P/E ratio of 12.70.
During the last 12 months the stock has dropped by 35% and is now trading -40.66% from its 52-week high and +27.94% from its 52-week low.
The main guru that holds share of the company is Chuck Royce (Trades, Portfolio) (with 2.8% of outstanding shares of the company or 0.18% of his total assets), followed by Kahn Brothers (Trades, Portfolio) (with 1.91% of outstanding shares) and George Soros (Trades, Portfolio) (1.07%).
It increased its stake in BlackBerry Ltd. (BBRY) by 39.97% with an impact of 1.30% on its portfolio and after this buy it holds 3,302,677 shares of the company (0.62% of outstanding shares) at an average price of $9.17/share. The investment is giving to the fund a total loss of 13%.
The company provides platforms and solutions for seamless access to information, including email, voice, instant messaging, short message service, internet and intranet-based applications and browsing.
BBRY is trading with a forward P/E of 625.00 that is ranked lower than 100% of the 166 Companies in the Global Communication Equipment industry which has an average forward P/E ratio of 15.90.
During the last 12 months the stock has dropped by 17% and is now trading -36.18% from its 52-week high and +12.73% from its 52-week low.
The main guru holding shares of the company is PRIMECAP Management (Trades, Portfolio) which holds 12.08% of shares outstanding, followed by Prem Watsa (Trades, Portfolio) (with 8.82% of outstanding shares) and Jim Simons (Trades, Portfolio) (with 0.70%).
It reduced its stake in Navient Corp. (NAVI) by 44.68% with an impact of 0.93% on its portfolio and after this sale it holds 335,534 shares of the company (0.09% of outstanding shares) at an average price of $16.58/share. The investment is giving to the fund a total gain of 11%.
The company was formed in 1972 as the Student Loan Marketing Association, a federally chartered government-sponsored enterprise. The Company, through its subsidiaries is engaged in originating, servicing and collecting education loans.
NAVI is trading with a P/E(ttm) of 5.45 that is ranked higher than 89% of the 208Â companies in the Global Credit Services industry which has an average P/E ratio of 15.80.
During the last 12 months the stock has dropped by 9% and is now trading -31.26% from its 52-week high and +0.13% from its 52-week low.
The main guru holding shares of the company is James Barrow (with 10.07% of outstanding shares), followed by Leon Cooperman (2.1%) and Pioneer Investments (Trades, Portfolio) (0.32%).
It reduced its stake in New York Community Bancorp Inc. (NYCB) by 5.52% with an impact of 0.51% on its portfolio and after this sale it holds 3,060,224 shares of the company (0.69% of outstanding shares) at an average price of $12.71/share. The investment is giving to the fund a total gain of 15%.
The company is multi-bank holding company and has two main subsidiaries: New York Community Bank and New York Commercial Bank. New York Community Bank is a New York State-chartered savings bank with 242 branches that currently operate through seven local divisions.
NYCB is trading with a P/E of 17.26 that is ranked lower than 66% of the 1251 companies
in the Global Savings & Cooperative Banks industry which has an average P/E ratio of 13.80.
During the last 12 months the stock has risen by 18% and is now trading -0.11% from its 52-week high and +28.68% from its 52-week low.
The main guru holding shares of the company is James Barrow (Trades, Portfolio) (with 2.84% of outstanding shares), followed by Kahn Brothers (Trades, Portfolio) (0.69% of outstanding shares) and Pioneer Investments (Trades, Portfolio)(0.01%).
It reduced its stake in Pfizer Inc. (PFE) by 2.00%. This trade had an impact of 0.21% on its portfolio and after this sale it holds 1,774,875 shares of the company (0.03% of outstanding shares) at an average price of $22.57/share. The investment is giving to the fund a total gain of 69%.
The company applies science and its resources to bring therapies to people that extend and improve their lives through the discovery, development and manufacture of healthcare products. The company's portfolio includes medicines and vaccines, as well as many of the world's known consumer healthcare products.
PFE is trading with a P/E of 24.76 that is ranked higher than 67% of the 472 companies in the Global Drug Manufacturers - Major industry which has an average P/E ratio of 34.90.
During the last 12 months the stock has risen by 24% and is now trading -1.22% from its 52-week high and +29.73% from its 52-week low.
The main hedge fund holding shares of the company is James Barrow (Trades, Portfolio) (with 0.89% of outstanding shares), followed by Dodge & Cox (0.76% of outstanding shares) and Ken Fisher who holds 0.52% of outstanding shares.
