Irving khan’s Kahn Brothers Group reported that its equity portfolio has a market value of approximately $580 million in the fourth quarter of 2014 based on its 13F filing with the Securities and Exchange Commission (SEC).
Irving Kahn is the chairman of the Kahn Brothers Group. He is the oldest, living active investment manager at the age of 109. Kahn is a value investor. He served as a teaching assistant of Benjamin Graham, the father of value investing. Graham was a lecturer at the Columbia University in New York.
Kahn Brothers’ largest stockholdings
Kahn Brothers reported that its largest stockholdings in its portfolio during the quarter include Citigroup, Merck &Co., Pfizer, New York Times, and New York Community Bancorp.
The money manager owns 1,190,462 shares of Citigroup with a market value of approximately$64.4 million. During the quarter, Kahn Brother reduced its stake in the bank by 38,098 shares. The bank is the largest stockholding of the money manager, which accounts 10.36% of its portfolio.
Kahn Brothers own 1,052,462 million shares of Merck & Co., its second largest stockholding, which is worth approximately $59.78 million.
The money manager owns 1,883,217 shares of Pfizer worth around $58.6 million. It has 4,131,373 million shares in New York Times worth approximately $54.6 million and 3,378,882 shares in New York Community Bancorp worth around $54 million.
During the quarter, Kahn Brothers increased its stake in BlackBerry by 289,960 shares to 1,846,010 shares. BlackBerry is trading around $10 per share in New York today.
Last month, it had been reported that Samsung Electronics is interested to acquire BlackBerry. The management of both companies denied that they are engage in acquisition talks. Samsung co-CEO J.K. Shin clarified that his company’s intention is to establish a better partnership with the Canadian technology company.
Kahn Brothers also purchased additional 264,355 shares of Patterson-UTI Energy, bringing its stake to 890,609 shares. The shares of the company are trading around $17.94 per share, up by 1.4% at the time of this writing, around 12:31 in the afternoon in New York. The company lost 26% of its stock value over the past year.
The money manager also acquired additional 23,050 shares of BP Plc. Its stake in the British energy company is now 867,505 shares. BP’s stock price is up by nearly 3% to $40.91 per share at the time of this writing. The company lost 11% of its stock value over the past year.