Kahn Brothers & Company’s portfolio in the fourth quarter showed that its assets under management was $581,043,298 based on its 13F filing with the Securities and Exchange Commission (SEC).
During the quarter, the investment management firm acquired positions in 6 corporations and added to its stake in three stocks. The firm also reduced its position across 25 equities and sold out its entire stake in two companies.
Black Bear Value Fund update for the month ended November 30, 2022. Q3 2022 hedge fund letters, conferences and more Dear Partners and Friends, Black Bear . . . SORRY! This content is exclusively for paying members. SIGN UP HERE If you are subscribed and having an account error please clear cache and cookies if Read More
Kahn Brothers’ top five stockholdings
Kahn Brothers’ largest stockholdings include The New York Times Company (NYSE:NYT), which represents 11.64% of its portfolio followed by Pfizer Inc. (NYSE:PFE) 10.01%, Citigroup Inc (NYSE:C) 9,63%, New York Community Bancorp, Inc. (NYSE:NYCB) 9.48%, and Old Republic International Corporation (NYSE:ORI) 7.32%.
During the quarter, the investment management firm purchased 1,132,740 shares of Sterling Bancorp (NYSE:STL). The bank holding company recently reported its financial results for its December quarter indicating a net loss of $14 million or $0.20 losses per diluted share. Excluding the impact of charges, STL Bancorp should have earned $9.4 million or $0.13 per share. The board of directors of the company declared a quarterly dividend of $0.07 per share payable in February to stockholders on record as of February 14.
Kahn Brothers acquired 979,022 shares of SLM Corp (NASDAQ:SLM), a student lender also known as Sallie Mae. Last month, the company reported that its earnings for the quarter declined 22% to $270 million or $0.60 per share.
The investment management firm also bought 485,905 shares of IDT Corporation (NYSE:IDT), 475,656 shares of Genie Energy Ltd (NYSE:GNE), 8,898 shares of Monsanto Company (NYSE:MON), and 16,297 shares of AT&T, Inc (NYSE:T).
Kahn Brothers increased its position in Merck & Co., Inc. (NYSE:MRK) by 1,296,843 shares to 2,525,376 shares, BP Plc (NYSE:BP) (LON:BP) by 31,490 shares to 520,745 shares, and Trinity PL Hldngs Inc (OTCMKTS:TPHS) by 575,171 shares to 1,018,013 shares.
During the period, the investment management firm sold 1,178,200 shares of The New York Times (NYSE:NYT) and 1 million shares of Nam Tai Electronics, Inc. (NYSE:NTE). Kahn Brothers also cut its stake in New York Community Bancorp, Inc (NYSE:NYCB) by 877,620 shares, Old Republic International Corp (NYSE:ORI) by 963,218 shares, and MBIA Inc. (NYSE:MBI) by 849,550 shares.