Insightful Portfolio Adjustments Reflect Kahn Brothers (Trades, Portfolio)' Investment Acumen
Kahn Brothers (Trades, Portfolio), a distinguished investment firm founded in 1978, recently disclosed their 13F filing for the third quarter of 2024. The firm is known for its rigorous value investing approach, inspired by Benjamin Graham. Kahn Brothers (Trades, Portfolio) Advisors LLC, their investment advisory wing, alongside Kahn Brothers (Trades, Portfolio) LLC, a member of the New York Stock Exchange, collectively boast over a century of investment experience. This quarter's filing reveals significant portfolio adjustments, including new acquisitions and notable exits.
New Stock Acquisitions
Kahn Brothers (Trades, Portfolio) expanded their portfolio by adding three new stocks in the third quarter of 2024. The additions are as follows:
- International Business Machines Corp (IBM, Financial) saw the addition of 1,508 shares, making up 0.06% of the portfolio, valued at $333,750 million.
- SEI Investments Co (SEIC, Financial) with 5,147 shares, also representing about 0.06% of the portfolio, with a total value of $356,000.
- Deutsche Bank AG (DB, Financial) included 10,000 shares, accounting for 0.03% of the portfolio, valued at $173,000.
Key Position Increases
Kahn Brothers (Trades, Portfolio) also increased their stakes in 11 stocks, with significant boosts in:
- The Walt Disney Co (DIS, Financial), where they added 184,542 shares, bringing the total to 405,445 shares. This adjustment marks an 83.54% increase in share count and a 3.06% impact on the current portfolio, valued at $39,000,070.
- Bayer AG (BAYRY, Financial), with an additional 785,085 shares, bringing the total to 5,159,540 shares. This represents a 17.95% increase in share count, valued at $43,701,500.
Complete Exits from Holdings
In a notable portfolio adjustment, Kahn Brothers (Trades, Portfolio) exited their positions in two companies during the third quarter of 2024:
- MBIA Inc (MBI, Financial), where they sold all 5,570,263 shares, impacting the portfolio by -5.14%.
- Chevron Corp (CVX, Financial), with all 1,800 shares liquidated, causing a -0.05% impact on the portfolio.
Significant Reductions in Holdings
Furthermore, Kahn Brothers (Trades, Portfolio) reduced their positions in 22 stocks. The most significant reductions include:
- GSK PLC (GSK, Financial) by 182,429 shares, resulting in a -14.7% decrease in shares and a -1.18% impact on the portfolio. The stock traded at an average price of $40.91 during the quarter and has returned -13.73% over the past three months and -2.38% year-to-date.
- VOXX International Corp (VOXX, Financial) by 1,657,896 shares, resulting in a -94.11% reduction in shares and a -0.88% impact on the portfolio. The stock traded at an average price of $3.86 during the quarter and has returned 159.13% over the past three months and -36.19% year-to-date.
Portfolio Overview and Sector Allocation
As of the third quarter of 2024, Kahn Brothers (Trades, Portfolio)' portfolio included 53 stocks. The top holdings were 12.79% in Citigroup Inc (C, Financial), 11.35% in Merck & Co Inc (MRK, Financial), 8.59% in BP PLC (BP, Financial), 8.14% in Flagstar Financial Inc (FLG, Financial), and 7.53% in Bayer AG (BAYRY, Financial). The holdings are predominantly concentrated across 10 industries, including Healthcare, Financial Services, Energy, and Technology, among others.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
