Irving Kahn Buys Old Republic International Corp., Citigroup Inc., Pfizer Inc ., Bristolmyers Squibb Company

Irving Kahn Q2: Buys ORI, C, PFE, BMW

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Aug 22, 2009
At the age of above 100, Irving Kahn is the only living value investor who experienced the great depression as an adult. Apparently that helped him, as he added greatly into his positions as the market lows. Irving invests mostly in healthcare industry and financials. This is his Q2 portfolio update.

Irving Kahn owns 55 stocks with a total value of $372 million. These are the details of the buys and sells.


Added Positions: BMY, C, HOLX, KEY, MBI, MRK, NYB, NYT, ORI, PFE, SLM, USG,

Reduced Positions: CMCSA, MON, USU, WYE,

Sold Out: ATSG,


For the details of Irving Kahn's stock buys and sells, go to the Link Here


This is the sector weightings of Irving Kahn's portfolio:


Technologygreen.gif 5.2%
Financialsgreen.gif 34%
Utilitiesgreen.gif 0.2%
Telecommunicationsgreen.gif 0.3%
Consumer Servicesgreen.gif 2.4%
Health Caregreen.gif 45.2%
Consumer Goodsgreen.gif 6.4%
Industrialsgreen.gif 5%
Basic Materialsgreen.gif 0.1%
Oil & Gasgreen.gif 1.1%



These are the top 5 holdings of Irving Kahn


  1. New York Community Bancorp Inc. (NYB) - 3,903,251 shares, 11.21% of the total portfolio
  2. ScheringPlough Corp. (SGP) - 1,571,136 shares, 10.6% of the total portfolio
  3. BristolMyers Squibb Company (BMY) - 1,577,612 shares, 8.61% of the total portfolio
  4. Pfizer Inc (PFE) - 2,116,962 shares, 8.53% of the total portfolio
  5. Merck & Co. Inc. (MRK) - 908,052 shares, 6.82% of the total portfolio



Added: Old Republic International Corp. (ORI, Financial)


Irving Kahn added to his holdings in Old Republic International Corp. by 21.45%. His purchase prices were between $9.31 and $11.3, with an estimated average price of $10.1. The impact to his portfolio due to this purchase was 1.08%. His holdings were 2,405,498 shares as of 06/30/2009.


Old Republic International Corporation is Chicago-based and is an insurance holding company whose subsidiaries market underwrite and provide risk management services for a wide variety of coverages in the property and liability mortgage guaranty title and life and health insurance fields. Old Republic International Corp. has a market cap of $2.74 billion; its shares were traded at around $11.4 with and P/S ratio of 0.7. The dividend yield of Old Republic International Corp. stocks is 6%. Old Republic International Corp. had an annual average earning growth of 5% over the past 10 years.


Added: New York Community Bancorp Inc. (NYB, Financial)


Irving Kahn added to his holdings in New York Community Bancorp Inc. by 8.08%. His purchase prices were between $9.8 and $11.75, with an estimated average price of $10.6. The impact to his portfolio due to this purchase was 0.84%. His holdings were 3,903,251 shares as of 06/30/2009.


New York Community Bancorp Inc. is a leading producer of multi-family loans in New York City with an emphasis on apartment buildings that feature below-market rents. The Company has two bank subsidiaries: New York Community Bank with 178 branches serving customers throughout Metro New York and New Jersey; and New York Commercial Bank with 36 branches serving customers in Manhattan Queens Brooklyn Long Island and Westchester County in New York. Reflecting its growth through a series of acquisitions the Community Bank operates through five local divisions: Queens County Savings Bank in Queens Roslyn Savings Bank on Long Island Richmond County Savings Bank on Staten Island Roosevelt Savings Bank in Brooklyn and Garden State Community Bank in New Jersey. Similarly the Commercial Bank operates 17 of its branches under the name Atlantic Bank. New York Community Bancorp Inc. has a market cap of $3.85 billion; its shares were traded at around $11.15 with a P/E ratio of 10.7 and P/S ratio of 2.4. The dividend yield of New York Community Bancorp Inc. stocks is 8.9%. New York Community Bancorp Inc. had an annual average earning growth of 20.5% over the past 10 years. GuruFocus rated New York Community Bancorp Inc. the business predictability rank of 2.5-star.


Added: Pfizer Inc (PFE, Financial)


Irving Kahn added to his holdings in Pfizer Inc by 7.38%. His purchase prices were between $12.89 and $15.04, with an estimated average price of $14.3. The impact to his portfolio due to this purchase was 0.59%. His holdings were 2,116,962 shares as of 06/30/2009.


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 has three business segments: health care animal health and consumer health care. Its products are available in numerous countries. (Company Press Release) Pfizer Inc has a market cap of $112.29 billion; its shares were traded at around $16.64 with a P/E ratio of 7.2 and P/S ratio of 2.4. The dividend yield of Pfizer Inc stocks is 3.8%. Pfizer Inc had an annual average earning growth of 11% over the past 10 years. GuruFocus rated Pfizer Inc the business predictability rank of 2.5-star.


Added: Hologic Inc. (HOLX, Financial)


Irving Kahn added to his holdings in Hologic Inc. by 11.17%. His purchase prices were between $11.71 and $15.09, with an estimated average price of $13.6. The impact to his portfolio due to this purchase was 0.51%. His holdings were 1,338,342 shares as of 06/30/2009.


Hologic Inc. is a leading supplier of high quality innovative and clinically valuable diagnostic systems and tests. The company develops manufactures and markets X-ray bone densitometers and ultrasound bone analyzers that address a growing market for osteoporosis prevention and treatment -- a key element of women's health care. The systems are used by more leading medical schools universities and osteoporosis opinion leaders than any other bone densitometer. Hologic Inc. has a market cap of $4.07 billion; its shares were traded at around $15.87 with a P/E ratio of 13.3 and P/S ratio of 2.5. Hologic Inc. had an annual average earning growth of 127.1% over the past 5 years.


Added: Bristolmyers Squibb Company (BMY, Financial)


Irving Kahn added to his holdings in Bristolmyers Squibb Company by 6%. His purchase prices were between $19 and $20.64, with an estimated average price of $19.8. The impact to his portfolio due to this purchase was 0.49%. His holdings were 1,577,612 shares as of 06/30/2009.


Bristol-Myers Squibb Company is a global leader in the research and development of innovative lifesaving and life-enhancing treatments for heart disease; high blood pressure; stroke; diabetes; cancer; HIV/AIDS and other infectious diseases; depression schizophrenia and other mental disorders; pain; and other conditions. Bristolmyers Squibb Company has a market cap of $44.71 billion; its shares were traded at around $22.57 with a P/E ratio of 11.6 and P/S ratio of 2.1. The dividend yield of Bristolmyers Squibb Company stocks is 5.5%.


Added: Mbia Inc. (MBI, Financial)


Irving Kahn added to his holdings in Mbia Inc. by 16.18%. His purchase prices were between $4.22 and $7.21, with an estimated average price of $5.5. The impact to his portfolio due to this purchase was 0.36%. His holdings were 2,271,320 shares as of 06/30/2009.


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. Financial guarantees for municipal bonds asset-backed and mortgage-backed securities investor-owned utility bonds and collateralized obligations of sovereigns corporations and financial institutions both in the new issue and secondary markets are provided through the Company's wholly-owned subsidiary MBIA Insurance Corporation. Mbia Inc. has a market cap of $1.14 billion; its shares were traded at around $5.47 with and P/S ratio of 0.3. Mbia Inc. had an annual average earning growth of 18.9% over the past 10 years.


Added: Slm Corp. (SLM, Financial)


Irving Kahn added to his holdings in Slm Corp. by 9.45%. His purchase prices were between $4.84 and $9.27, with an estimated average price of $6.6. The impact to his portfolio due to this purchase was 0.3%. His holdings were 1,245,643 shares as of 06/30/2009.


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. The company provides a wide range of financial services processing capabilities and information technology to meet the needs of educational institutions lenders students and guarantee agencies. Slm Corp. has a market cap of $4.08 billion; its shares were traded at around $8.72 with a P/E ratio of 12 and P/S ratio of 0.5. Slm Corp. had an annual average earning growth of 12.8% over the past 10 years.


Added: Merck & Co. Inc. (MRK, Financial)


Irving Kahn added to his holdings in Merck & Co. Inc. by 4.47%. His purchase prices were between $23.13 and $27.2, with an estimated average price of $25.5. The impact to his portfolio due to this purchase was 0.29%. His holdings were 908,052 shares as of 06/30/2009.


Merck & Co. Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891 Merck discovers develops manufactures and markets vaccines and medicines to address unmet medical needs. The company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. Merck & Co. Inc. has a market cap of $68.66 billion; its shares were traded at around $32.56 with a P/E ratio of 10 and P/S ratio of 2.9. The dividend yield of Merck & Co. Inc. stocks is 4.6%.


Added: The New York Times Company (NYT, Financial)


Irving Kahn added to his holdings in The New York Times Company by 20.24%. His purchase prices were between $5.4 and $6.76, with an estimated average price of $6.1. The impact to his portfolio due to this purchase was 0.22%. His holdings were 872,795 shares as of 06/30/2009.


New York Times Company is a diversified media company including newspapers television and radio stations magazines electronic information and publishing Internet businesses and forest products investments. The Company currently classifies its businesses into the following segments: Newspapers Broadcasting Magazines and Forest Product Investments and Other Joing Ventures. The New York Times Company has a market cap of $1.16 billion; its shares were traded at around $8.06 with a P/E ratio of 89.5 and P/S ratio of 0.4.


Added: Usg Corp. (USG, Financial)


Irving Kahn added to his holdings in Usg Corp. by 130.91%. His purchase prices were between $9.74 and $17.06, with an estimated average price of $12.2. The impact to his portfolio due to this purchase was 0.19%. His holdings were 127,000 shares as of 06/30/2009.


USG Corp. through its subsidiaries is a leading manufacturer and distributor of building materials producing a wide range of products for use in new residential new nonresidential and repair and remodel construction as well as products used in certain industrial processes. USG's operations are organized into three operating segments: North American Gypsum Worldwide Ceilings and Building Products Distribution. Usg Corp. has a market cap of $1.51 billion; its shares were traded at around $15.26 with and P/S ratio of 0.3.


Added: Citigroup Inc. (C, Financial)


Irving Kahn added to his holdings in Citigroup Inc. by 78.73%. His purchase prices were between $2.97 and $4.02, with an estimated average price of $3.4. The impact to his portfolio due to this purchase was 0.03%. His holdings were 73,324 shares as of 06/30/2009.


Citigroup Inc. the leading 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. Major brand names under Citigroup's trademark red umbrella include Citibank CitiFinancial Primerica Smith Barney and Banamex. Citigroup Inc. has a market cap of $25.82 billion; its shares were traded at around $4.7 with and P/S ratio of 0.4. Citigroup Inc. had an annual average earning growth of 5.1% over the past 10 years.


Added: Keycorp (KEY, Financial)


Irving Kahn added to his holdings in Keycorp by 43.89%. His purchase prices were between $5 and $9.03, with an estimated average price of $6.3. The impact to his portfolio due to this purchase was 0.01%. His holdings were 27,609 shares as of 06/30/2009.


KeyCorp is an integrated multi-line financial services company. Its subsidiaries provide a wide range of investment management retail and commercial banking consumer finance and investment banking products and services to corporate individual and institutional clients through four lines of business: Key Retail Banking Key Specialty Finance Key Corporate Capital and Key Capital Partners. Keycorp has a market cap of $5.37 billion; its shares were traded at around $6.73 with and P/S ratio of 0.8. The dividend yield of Keycorp stocks is 0.6%. Keycorp had an annual average earning growth of 9.9% over the past 5 years.


Reduced: Usec Inc. (USU, Financial)


Irving Kahn reduced to his holdings in Usec Inc. by 63.38%. His sale prices were between $4.5 and $6.44, with an estimated average price of $5.6. The impact to his portfolio due to this sale was -0.01%. Irving Kahn still held 10,105 shares as of 06/30/2009.


USEC Inc. a global energy company is a world leader in the production andsale of uranium fuel enrichment services for commercial nuclear power plants. Uranium enrichment is a critical step in transforming natural uranium into fuel for nuclear reactors to produce electricity. Generallythe Company's contracts with its customers are ``requirements`` contracts pursuant to which the customer is obligated to purchase a specified percentage of its enriched uranium requirements from the Company. Usec Inc. has a market cap of $522.4 million; its shares were traded at around $4.65 with a P/E ratio of 15 and P/S ratio of 0.3. Usec Inc. had an annual average earning growth of 21.5% over the past 5 years.


Reduced: Comcast Corp. (CMCSA)


Irving Kahn reduced to his holdings in Comcast Corp. by 63.17%. His sale prices were between $13.7 and $16.28, with an estimated average price of $14.4. The impact to his portfolio due to this sale was -0.11%. Irving Kahn still held 47,016 shares as of 06/30/2009.


Comcast Corp. among the world's leading communication companies provides basic cable digital cable and high speed internet services that connect people to what's important in their lives. They are in the process of deploying digital video applications and high-speed Internet access service to expand the products available on their cable communications networks. Comcast Corp. has a market cap of $43.45 billion; its shares were traded at around $15.07 with a P/E ratio of 13.5 and P/S ratio of 1.2. The dividend yield of Comcast Corp. stocks is 1.8%. Comcast Corp. had an annual average earning growth of 9.6% over the past 10 years.


Reduced: Monsanto Company (MON)


Irving Kahn reduced to his holdings in Monsanto Company by 95.31%. His sale prices were between $74.99 and $89.64, with an estimated average price of $83. The impact to his portfolio due to this sale was -0.22%. Irving Kahn still held 11,469 shares as of 06/30/2009.


Monsanto is a leading global provider of technology-based solutions and agricultural products for growers and downstream customers such as grain processors and consumers in the agricultural markets. The combination of its herbicides seeds and related genetic trait products provides growers with integrated solutions to more efficiently and cost effectively produce crops at higher yields while controlling weeds insects and diseases. Its base business led by Roundup and coupled with the latest tools in biotechnology genomics and molecular breeding. Monsanto Company has a market cap of $45.74 billion; its shares were traded at around $83.78 with a P/E ratio of 19.3 and P/S ratio of 3.9. The dividend yield of Monsanto Company stocks is 1.3%. Monsanto Company had an annual average earning growth of 30.7% over the past 5 years.


Reduced: Wyeth (WYE)


Irving Kahn reduced to his holdings in Wyeth by 55.35%. His sale prices were between $41.55 and $44.74, with an estimated average price of $43.5. The impact to his portfolio due to this sale was -1.78%. Irving Kahn still held 263,592 shares as of 06/30/2009.


Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery development manufacturing and marketing of pharmaceuticals vaccines biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals Wyeth Consumer Healthcare and Fort Dodge Animal Health. Wyeth has a market cap of $64.05 billion; its shares were traded at around $48.02 with a P/E ratio of 13.4 and P/S ratio of 2.8. The dividend yield of Wyeth stocks is 2.5%. Wyeth had an annual average earning growth of 5.8% over the past 10 years.


Sold Out: Air Trans Svcs Groupinc Com (ATSG)


Irving Kahn sold out his holdings in Air Trans Svcs Groupinc Com. His sale prices were between $0.68 and $2.48, with an estimated average price of $1.4.


AIR TRANSPORT SERVICES GROUP INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates ATSG also provides aircraft leasing aircraft maintenance services airport ground services fuel management specialized transportation management and air charter brokerage services. ATSG subsidiaries include ABX Air Inc. Air Transport International LLC Cargo Aircraft Management Inc. Capital Cargo International Airlines Inc. and LGSTX Services Inc. Air Trans Svcs Groupinc Com has a market cap of $196.2 million; its shares were traded at around $3.1 with a P/E ratio of 9.9 and P/S ratio of 0.1.