Skip to content
berrytrail

Search

Search managers or tickers

Kahn Brothers

Q2 2025 13F · by Thomas Kahn, portfolio manager

As of
Jun 30, 2025
Filed
Aug 14, 2025
US stock
$498M · prev $494M
Positions
50 · prev 55
Options notional
$0
Documents
1· no amendments

Picture88.7% US stock

Mostly picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 88.7%
  • Foreign stock not listed in the US 11.3%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves48 since the prior filing

The book

Concentrated · behaves like 13 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Moderate turnover · 43% a year, about 2.3 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions52% of US stock

  1. C Citigroup Inc. added+2.57 pp added+2.5715.2%
  2. BAYRY Bayer AG S/ added+2.19 pp added+2.1910.2%
  3. DIS The Walt Disney Company added+2.82 pp added+2.829.8%
  4. FLG Flagstar Bank, National Association added−0.71 pp added−0.719.2%
  5. MRK Merck & Co., Inc. trimmed−1.14 pp trimmed−1.147.8%

Positions50 in this filing · 12 exited

CCitigroup Inc.15.16%886,688$75Madded+1%+2.57 pp2 q
BAYRYBayer AG S/10.19%6,728,903$51Madded+2%+2.19 pp2 q
DISThe Walt Disney Company9.77%392,450$49Madded+13%+2.82 pp2 q
FLGFlagstar Bank, National Association9.20%4,321,165$46Madded+2%−0.71 pp2 q
MRKMerck & Co., Inc.7.80%490,465$39Mtrimmed−0%−1.14 pp2 q
BPBP p.l.c.6.79%1,129,372$34Mtrimmed−2%−1.07 pp2 q
OGNOrganon & Co.6.78%3,490,150$34Madded+40%−0.73 pp2 q
IDTIDT Corporation Class B5.44%396,564$27Madded+8%+1.65 pp2 q
BMYBristol-Myers Squibb Co.5.12%550,683$25Mtrimmed−8%−2.25 pp2 q
GSKGSK plc5.09%659,872$25Mnew+5.09 ppnew
SEBSeaboard Corporation4.95%8,623$25Mtrimmed−2%+0.14 pp2 q
PFEPfizer Inc.3.56%730,989$18Mtrimmed−1%−0.21 pp2 q
PTENPatterson-UTI Energy Inc2.28%1,917,660$11Mtrimmed−1%−0.94 pp2 q
GOOGAlphabet Inc. Class C1.32%71,091$7Mnew+1.32 ppnew
GNEGenie Energy Ltd1.07%198,999$5Mtrimmed−2%+0.45 pp2 q
AGOAssured Guaranty, LTD0.77%43,986$4Mtrimmed−76%−2.54 pp2 q
NVSNovartis AG0.45%18,471$2Mtrimmed−16%−0.04 pp2 q
XOMExxon Mobil Corp0.41%19,143$2Madded+39%+0.08 pp2 q
FRFHFFairfax Fincl Hldg S/VTG0.37%1,018$2Mheld—2 q
FBAKFirst Nb Alaska0.33%6,290$2Mheld—2 q
WEDWebster Financial Corp0.33%30,089$2Mtrimmed−7%−0.01 pp2 q
CSXCSX Corporation0.27%40,731$1Mtrimmed−16%−0.02 pp2 q
TRMLFTourmaline Oil Corp0.27%27,959$1Madded+62%+0.10 pp2 q
HLNHaleon plc0.25%118,437$1Mtrimmed−36%−0.13 pp2 q
ARAntero Resources Corporation0.20%24,906$1Mheld—2 q
MSFTMicrosoft Corp0.19%1,905$947,566added+4%+0.05 pp2 q
JPMJPMorgan Chase & Co.0.16%2,775$804,500new+0.16 ppnew
AAPLApple Inc.0.12%2,992$613,868added+7%−0.01 pp2 q
SEICSEI Investments Co0.12%6,596$592,716held—2 q
BACBank of America Corporation0.11%11,887$562,492trimmed−31%−0.04 pp2 q
IBMInternational Business Machines Corporation0.09%1,508$444,528held—2 q
PEYUFPeyto Expl & Dev Corp0.09%32,307$460,580added+63%+0.04 pp2 q
AMAntero Midstream Corporation0.07%18,856$357,321held—2 q
VZVerizon Communications0.07%7,715$333,828trimmed−2%0.00 pp2 q
ZDGEZedge, Inc.0.07%84,781$339,971trimmed−1%+0.03 pp2 q
CVXChevron Corporation0.06%2,053$293,969held—2 q
NAVINavient Corporation0.06%20,600$290,460held—2 q
PNCPNC Financial Services Group0.06%1,497$279,070held—2 q
PGProcter & Gamble Company0.06%1,767$281,518added+4%0.00 pp2 q
PEGPublic Service Enterprise Group Incorporated0.06%3,624$305,068trimmed−17%−0.01 pp2 q
RFLRafael Holdings, Inc. Class B0.06%161,032$278,585trimmed−1%0.00 pp2 q
DBDeutsche Bank Aktiengesellschaft0.06%10,000$292,800held—2 q
BXBlackstone Inc.0.05%1,500$224,370held—2 q
CMCSAComcast Corp0.05%6,380$227,702new+0.05 ppnew
PEPPepsiCo, Inc.0.05%1,800$237,672held—2 q
PIFYFPine Cliff Energy Ltd0.05%530,000$244,740new+0.05 ppnew
WRLCWindrock Ld Co0.05%569$258,895held—2 q
AIGAmerican International Group, Inc.0.04%2,349$201,050held—2 q
OBTOrange County Bancorp, Inc.0.04%8,000$206,720new+0.04 ppnew
unresolvedTrinity Pl Hldgs Inc0.00%166,999$6,679new0.00 ppnew
unresolvedGlaxosmithkline PLC—−822,227—exited−6.44 pp—
HOLXHologic Inc—−19,757—exited−0.25 pp—
unresolvedJp Morgan Chase—−2,865—exited−0.14 pp—
COFCapital One Financial—−1,971—exited−0.07 pp—
CIThe Cigna Group—−841—exited−0.06 pp—
LWAYLifeway Foods Inc—−10,000—exited−0.05 pp—
WEYSWeyco Group Inc—−7,197—exited−0.04 pp—
NTPIFNam Tai Property Inc—−36,040—exited−0.04 pp—
GTXGarrett Motion Inc.—−12,318—exited−0.02 pp—
TPHSTrinity Place Hldgs Inc—−591,466—exited−0.01 pp—
unresolvedIdw Media—−36,419—exited0.00 pp—
VRAYQViewray Inc—−353,744—exited0.00 pp—

Source

Form
13F-HR
Reading
8 defects · 1 unresolved
Accession
0001039565-25-000005
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet
  • A security outside the official 13F list — CUSIP 072730302 not on the Official 13(f) List for 2025-06-30
  • A security outside the official 13F list — CUSIP 303901102 not on the Official 13(f) List for 2025-06-30
  • A security outside the official 13F list — CUSIP 32112J106 not on the Official 13(f) List for 2025-06-30
  • A security outside the official 13F list — CUSIP 717046106 not on the Official 13(f) List for 2025-06-30
  • A security outside the official 13F list — CUSIP 722524105 not on the Official 13(f) List for 2025-06-30
  • A security outside the official 13F list — CUSIP 89156V106 not on the Official 13(f) List for 2025-06-30
  • A security outside the official 13F list — CUSIP 896CNT011 not on the Official 13(f) List for 2025-06-30
  • A security outside the official 13F list — CUSIP 97349V107 not on the Official 13(f) List for 2025-06-30