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Holly LaFon
Holly LaFon
Articles (9119)  | Author's Website |

Kahn Brother's Top 5 Position Increases of the 4th Quarter

The late Irving Kahn's firm discloses portfolio

Kahn Brothers (Trades, Portfolio) on Thursday disclosed increasing its positions in 14 stocks and adding no new positions in the fourth quarter.

Investing firm Kahn Brothers (Trades, Portfolio) was founded in 1978 by famed investor Irving Kahn, who spent time as Benjamin Graham’s teaching assistant at Columbia Business School. The firm employs a “contrarian value strategy focusing on margin of safety and capital appreciation over long periods of time,” according to its website.

Its portfolio of 31 stocks was valued at $637 million at fourth-quarter end. Financial services represents the largest sector weighting at 30% of stocks. Health care follows at 22.8% of stocks and energy at 14.9%.

The top positions in Kahn Brothers (Trades, Portfolio)’ portfolio are Citigroup Inc. (NYSE:C), BP PLC (NYSE:BP) and New York Times Co. (NYSE:NYT).

Its largest increases during the fourth quarter were to positions in Bank of America Corp. (NYSE:BAC), IDT Corp. (NYSE:IDT), Assured Guaranty Ltd. (NYSE:AGO), GlaxoSmithKline PLC (NYSE:GSK) and Patterson –UTI Energy Inc. (NASDAQ:PTEN).

Bank of America Corp. (NYSE:BAC)

Kahn Brothers (Trades, Portfolio) purchased 7,333 shares of the company, increasing the position by 36.1% to 27,623 shares. The holding represents 0.13% of the stock portfolio.

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Bank of America Corp. has a market cap of $330.12 billion; its shares were traded around $32.09 Thursday with a P/E ratio of 20.69 and P/S ratio of 4. The trailing 12-month dividend yield of Bank of America Corp. is 1.22%. The forward dividend yield of Bank of America Corp. is 1.5%. Bank of America Corp. had an annual average earnings growth of 48.50% over the past five years.

IDT Corp. (NYSE:IDT)

Kahn Brothers (Trades, Portfolio) purchased 100,333 shares of IDT Corp., increasing the position by 18.5% to 642,376 shares. The holding represents 1.07% of the stock portfolio.

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IDT Corp. has a market cap of $274.240 million; its shares were traded around $11.04 Thursday with and P/S ratio of 0.18. The trailing 12-month dividend yield of IDT Corp. is 6.88%. The forward dividend yield of IDT Corp. is 6.64%. IDT Corp. had an annual average earnings growth of 18.5% over the past five years.

Assured Guaranty Ltd. (NYSE:AGO)

Kahn Brothers (Trades, Portfolio) purchased 161,714 shares of Assured Guaranty Ltd., increasing the position by 18% to 1,062,549 shares. The holding represents 5.65% of the portfolio.

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Assured Guaranty Ltd. has a market cap of $4.18 billion; its shares were traded around $35.59 Thursday with a P/E ratio of 5.14 and P/S ratio of 2.32. The trailing 12-month dividend yield of Assured Guaranty Ltd. stocks is 1.59%. The forward dividend yield of Assured Guaranty Ltd. is 1.59%. Assured Guaranty Ltd. had an annual average earnings growth of 27.3% over the past five years.

GlaxoSmithKline PLC (NYSE:GSK)

The firm purchased 118,028 shares of GlaxoSmithKline, increasing the position by 11.6% to 1,139,163 shares. The holding represents 6.35% of the portfolio.

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GlaxoSmithKline Plc has a market cap of $93.87 billion; its shares were traded around $38.36 Thursday with a P/E ratio of 29 and P/S ratio of 2.24. The trailing 12-month dividend yield of GlaxoSmithKline Plc is 5.35%. The forward dividend yield of GlaxoSmithKline Plc is 5.21%.

Patterson-UTI Energy Inc. (NASDAQ:PTEN)

The firm purchased 105,121 shares of Patterson-UTI Energy Inc., increasing the position by 8.2% to 1,392,012 shares. The holding represents 5% of the portfolio.

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Patterson-UTI Energy Inc. has a market cap of $5.39 billion; its shares were traded around $24.22 Thursday with and P/S ratio of 2.49. The trailing 12-month dividend yield of Patterson-UTI Energy Inc. is 0.33%. The forward dividend yield of Patterson-UTI Energy Inc. is 0.33%.

See Kahn Brothers (Trades, Portfolio)’ portfolio here.

About the author:

Holly LaFon
I'm a financial journalist with a master of science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


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