Kahn Brothers Group
Kahn Brothers Group
Kahn Brothers Group (Kahn Brothers Group) discloses a $564M portfolio across 47 US-listed positions in the latest 13F filing (2026Q1, filed May 8, 2026). The largest holding is C at 16.9% of the book. The biggest move of the quarter: added 53% to the OGN share count (position now $33M). Latticework's clone backtest puts this 13F book at -2.4%/yr vs SPY over 12.0 years.
About Kahn Brothers Group
Kahn Brothers Group is a New York-based value-oriented investment firm founded by Irving Kahn — who studied under Benjamin Graham at Columbia and worked alongside him at Graham-Newman — and later continued by his sons Thomas and Alan. The firm runs a concentrated, long-only equity book in the classic Graham tradition: patient accumulation of statistically cheap or out-of-favor names, low turnover, and little appetite for macro positioning or derivatives. With 47 reported positions and top-5 holdings accounting for roughly 52% of the disclosed portfolio, the 13F is a reasonably complete picture of their activity; the book is equity-long with no known systematic use of shorts or options that would create material gaps between the filing and economic exposure. Readers should note that the backtest implied by the public filings has trailed SPY by roughly 2.4 percentage points annually over twelve years — a pattern consistent with deep-value strategies that have faced structural headwinds since 2010, and with a style that prioritizes capital preservation and absolute returns over benchmark-relative performance.
2026Q1 brief
Kahn Brothers' $560M deep-value book continued its idiosyncratic contrarian positioning, with the most notable move being a near-doubling of MBI (+100% to 2.2%) — a bond insurer trading well below book that few other investors will touch — alongside a 53% add to OGN (5.9%), the unloved Organon spinoff facing generic competition headwinds. The sole new position is Z (4.0%, Zillow), a surprising addition that suggests the Kahn team sees real estate tech as deeply discounted relative to a potential housing-cycle recovery. Offsetting these contrarian bets, BP was cut 40% and MRK trimmed 47%, the latter a notable exit from pharma defensives despite sector stress. The portfolio remains anchored by mega-cap value in C (16.9%) and distressed-adjacent BAYRY (13.3%), reflecting the firm's multi-decade time horizon. With NVDA fully exited and semis nowhere in sight, Kahn Brothers is as far from consensus positioning as any 13F filer in this cohort. Watch the Z position in 2026Q2 — any further add would suggest a more deliberate housing-recovery thesis is being constructed.
AI-generated. Not investment advice.
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Holdings (47) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | C | 16.9% | $95M | |||
| 2 | BAYRY | 13.3% | $75M | |||
| 3 | FLG | 9.5% | $54M | |||
| 4 | DIS | 6.5% | $37M | |||
| 5 | GOOG | 6.2% | $35M | |||
| 6 | SEB | 5.9% | $33M | |||
| 7 | OGN | 5.9% | $33M | |||
| 8 | BP | 5.2% | $29M | |||
| 9 | MRK | 4.8% | $27M | |||
| 10 | Z | 4.0% | $23M | |||
| 11 | SEG | 3.4% | $19M | |||
| 12 | PTEN | 3.2% | $18M | |||
| 13 | IDT | 3.2% | $18M | |||
| 14 | PFE | 2.4% | $14M | |||
| 15 | MBI | 2.2% | $12M | |||
| 16 | BMY | 1.8% | $10M | |||
| 17 | GSK | 1.6% | $9M | |||
| 18 | XOM | 0.5% | $3M | |||
| 19 | GNE | 0.4% | $2M | |||
| 20 | NVS | 0.4% | $2M | |||
| 21 | FRFHF | 0.3% | $2M | |||
| 22 | CSX | 0.3% | $1M | |||
| 23 | FBAK | 0.3% | $1M | |||
| 24 | TRMLF | 0.2% | $1M | |||
| 25 | JPM | 0.1% | $829K | |||
| 26 | AAPL | 0.1% | $785K | |||
| 27 | MSFT | 0.1% | $774K | |||
| 28 | PEYUF | 0.1% | $610K | |||
| 29 | HLN | 0.1% | $565K | |||
| 30 | SEIC | 0.1% | $518K | |||
| 31 | BAC | 0.1% | $461K | |||
| 32 | CVX | 0.1% | $404K | |||
| 33 | DB | 0.1% | $298K | |||
| 34 | IBM | 0.1% | $298K | |||
| 35 | PEG | 0.1% | $285K | |||
| 36 | VZ | 0.1% | $285K | |||
| 37 | PEP | 0.1% | $280K | |||
| 38 | PNC | 0.1% | $279K | |||
| 39 | AM | <0.1% | $269K | |||
| 40 | PG | <0.1% | $268K | |||
| 41 | BX | <0.1% | $264K | |||
| 42 | OBT | <0.1% | $256K | |||
| 43 | PIFYF | <0.1% | $253K | |||
| 44 | WRLC | <0.1% | $252K | |||
| 45 | ZDGE | <0.1% | $228K | |||
| 46 | CMCSA | <0.1% | $206K | |||
| 47 | RFL | <0.1% | $73K |
- 1Cport16.9%val$95MCitigroup Incthis Q hold·17q
- port13.3%val$75MBayer Ag-sponsored Adrthis Q hold·10q
- 3FLGport9.5%val$54MFlagstar Bank NAthis Q hold·6q
- 4DISport6.5%val$37MWalt Disney Co/thethis Q hold·9q
- 5GOOGport6.2%val$35MAlphabet Inc-cl Cthis Q hold·4q
- 6SEBport5.9%val$33MSeaboard Corpthis Q hold·40q
- 7OGNport5.9%val$33MOrganon & COthis Q +53%·20q
- 8BPport5.2%val$29MBP Plc-spons Adrthis Q -40%·38q
- 9MRKport4.8%val$27MMerck & Co. Inc.this Q -47%·17q
- 10Zport4.0%val$23MZillow Group Inc - Cthis Q New·—1q
- 11SEGport3.4%val$19MSeaport Entertainment Groupthis Q +52%·3q
- 12PTENport3.2%val$18MPatterson-uti Energy Incthis Q hold·40q
- 13IDTport3.2%val$18MIdt Corp-class Bthis Q hold·17q
- 14PFEport2.4%val$14MPfizer Incthis Q hold·40q
- 15MBIport2.2%val$12MMbia Incthis Q +100%·37q
- 16BMYport1.8%val$10MBristol-myers Squibb COthis Q hold·40q
- 17GSKport1.6%val$9MGsk Plc-spon Adrthis Q hold·4q
- 18XOMport0.5%val$3MExxon Mobil Corpthis Q hold·40q
- 19GNEport0.4%val$2MGenie Energy Ltd-bthis Q hold·17q
- 20NVSport0.4%val$2MNovartis Ag-sponsored Adrthis Q hold·40q
- 21FRFHFport0.3%val$2MFairfax Financial Hldgs Ltdthis Q hold·9q
- 22CSXport0.3%val$1MCsx Corpthis Q hold·11q
- 23FBAKport0.3%val$1MFirst National Bank Alaskathis Q hold·28q
- 24TRMLFport0.2%val$1MTourmaline Oil Corpthis Q hold·6q
- 25JPMport0.1%val$829KJpmorgan Chase & COthis Q hold·4q
- 26AAPLport0.1%val$785KApple Incthis Q hold·13q
- 27MSFTport0.1%val$774KMicrosoft Corpthis Q hold·9q
- 28PEYUFport0.1%val$610KPeyto Exploration & Dev Corpthis Q hold·27q
- 29HLNport0.1%val$565KHaleon Plc-adrthis Q hold·15q
- 30SEICport0.1%val$518KSei Investments Companythis Q hold·7q
- 31BACport0.1%val$461KBank OF America Corpthis Q hold·38q
- 32CVXport0.1%val$404KChevron Corpthis Q hold·38q
- 33DBport0.1%val$298KDeutsche Bank AG Namen Aktthis Q hold·16q
- 34IBMport0.1%val$298KIntl Business Machines Corpthis Q hold·13q
- 35PEGport0.1%val$285KPublic Service Enterprise GPthis Q -20%·9q
- 36VZport0.1%val$285KVerizon Communications Incthis Q -30%·28q
- 37PEPport0.1%val$280KPepsico Incthis Q hold·27q
- 38PNCport0.1%val$279KPnc Financial Services Groupthis Q -41%·9q
- 39AMport<0.1%val$269KAntero Midstream Corpthis Q -37%·9q
- 40PGport<0.1%val$268KProcter & Gamble Co/thethis Q hold·17q
- 41BXport<0.1%val$264KBlackstone Incthis Q hold·5q
- 42OBTport<0.1%val$256KOrange County Bancorp Incthis Q hold·12q
- 43PIFYFport<0.1%val$253KPine Cliff Energy Ltdthis Q hold·7q
- 44WRLCport<0.1%val$252KWindrock Ltd COthis Q hold·5q
- 45ZDGEport<0.1%val$228KZedge Inc-cl Bthis Q hold·40q
- 46CMCSAport<0.1%val$206KComcast Corp-class Athis Q hold·35q
- 47RFLport<0.1%val$73KRafael Holdings Inc-class Bthis Q hold·33q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| MRK | Merck & Co. Inc. | TRIM | 4.8% | -47% | $27M |
| BP | BP Plc-spons Adr | TRIM | 5.2% | -40% | $29M |
| OGN | Organon & CO | ADD | 5.9% | +53% | $33M |
| Z | Zillow Group Inc - C | NEW | 4.0% | +100% | $23M |
| SEG | Seaport Entertainment Group | ADD | 3.4% | +52% | $19M |
| MBI | Mbia Inc | ADD | 2.2% | +100% | $12M |
| WBS | Webster Financial Corp | EXIT | 0.3% | -100% | $0 |
| PNC | Pnc Financial Services Group | TRIM | 0.1% | -41% | $279K |
| PEG | Public Service Enterprise GP | TRIM | 0.1% | -20% | $285K |
| VZ | Verizon Communications Inc | TRIM | 0.1% | -30% | $285K |
| AM | Antero Midstream Corp | TRIM | <0.1% | -37% | $269K |
| NVDA | Nvidia Corp | EXIT | 0.1% | -100% | $0 |
| G0585R106 | Assured Guaranty Ltd F | EXIT | <0.1% | -100% | $0 |
| NAVI | Navient Corp | EXIT | <0.1% | -100% | $0 |
| BN | Brookfield Corp | EXIT | <0.1% | -100% | $0 |
| AXP | American Express CO | EXIT | <0.1% | -100% | $0 |
| AR | Antero Resources Corp | EXIT | <0.1% | -100% | $0 |
- TRIMMRK4.8%Merck & Co. Inc.Δ -47%·$27M
- TRIMBP5.2%BP Plc-spons AdrΔ -40%·$29M
- ADDOGN5.9%Organon & COΔ +53%·$33M
- NEWZ4.0%Zillow Group Inc - CΔ +100%·$23M
- ADDSEG3.4%Seaport Entertainment GroupΔ +52%·$19M
- ADDMBI2.2%Mbia IncΔ +100%·$12M
- EXITWBS0.3%Webster Financial CorpΔ -100%·$0
- TRIMPNC0.1%Pnc Financial Services GroupΔ -41%·$279K
- TRIMPEG0.1%Public Service Enterprise GPΔ -20%·$285K
- TRIMVZ0.1%Verizon Communications IncΔ -30%·$285K
- TRIMAM<0.1%Antero Midstream CorpΔ -37%·$269K
- EXITNVDA0.1%Nvidia CorpΔ -100%·$0
- EXITG0585R106<0.1%Assured Guaranty Ltd FΔ -100%·$0
- EXITNAVI<0.1%Navient CorpΔ -100%·$0
- EXITBN<0.1%Brookfield CorpΔ -100%·$0
- EXITAXP<0.1%American Express COΔ -100%·$0
- EXITAR<0.1%Antero Resources CorpΔ -100%·$0
Frequently asked questions
- What stocks does Kahn Brothers Group own?
- As of 2026Q1, Kahn Brothers Group's 13F discloses 47 positions worth $564M. The top five holdings: C (16.9%), BAYRY (13.3%), FLG (9.5%), DIS (6.5%), GOOG (6.2%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Kahn Brothers Group buy this quarter?
- In 2026Q1, the filing shows 1 new position and 3 additions to existing holdings. The largest positions touched by buying: OGN, Z, SEG, MBI.
- How big is Kahn Brothers Group's portfolio?
- $564M across 47 positions per the latest 13F (filed May 8, 2026). The top five holdings account for 52% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001039565). Not investment advice.