Portfolio Repositioning
Kahn Brothers Expands Portfolio with Major New Stakes in Novartis and Citigroup
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Key Points
1
In the second quarter, Kahn Brothers took a new stake in Novartis by purchasing 13,386 shares, valued at about $2.07 million, making Novartis roughly the fund’s 4th-largest holding (about 4.1% of the portfolio).
2
In Citigroup, Kahn Brothers bought 836,337 shares in the second quarter, about $117.1 million, making the stock the 11th-largest holding in its portfolio, with institutional ownership of Citigroup at roughly 71.72%. Broker coverage noted favorable views (Zacks ‘strong-buy’; Bank of America and KBW upgrades/price targets).
3
Kahn Brothers added 1,182,261 shares of Zillow Group for about $37.3 million, ranking as the 16th-largest holding and representing about 0.1% of the firm’s holdings (the filing also shows it previously owned roughly 0.52% of Zillow).
4
The firm established a new stake in IDT Corporation with 351,660 shares valued at about $20.45 million, the 24th-largest holding, representing roughly 0.0% of Kahn Brothers’ portfolio and about 1.41% of IDT’s stock held by the fund as of the filing.
Kahn Brothers Group made four new stock purchases in the second quarter, including a $2 million stake in Swiss drugmaker Novartis. The investment firm also bought $117 million in Citigroup shares, $37.3 million in Zillow Group stock, and $20.5 million in IDT Corporation. These moves show Kahn Brothers actively reshaping its portfolio across healthcare, finance, and tech sectors.
Novartis Becomes Fourth-Largest Holding
Kahn Brothers purchased 13,386 shares of Novartis for roughly $2.04 million in Q2, according to Watchlist News. The position makes Novartis the fund's fourth-largest holding at 4.1% of its portfolio. This marks a new stake in the pharmaceutical giant, signaling confidence in the sector.
Citigroup Position Reaches $117 Million
The fund bought 836,337 Citigroup shares worth approximately $117.1 million, making it the 11th-largest holding in Kahn Brothers' portfolio. Institutional investors now hold about 71.72% of Citigroup. Multiple brokers support the stock — Zacks rates it a strong buy, while Bank of America and KBW have issued recent upgrades and favorable price targets.
Real Estate and Telecom Plays Round Out New Positions
Kahn Brothers added 1,182,261 Zillow Group shares for about $37.3 million, ranking as its 16th-largest holding. The firm also established a new position in IDT Corporation by purchasing 351,660 shares valued at $20.45 million. These moves reflect Kahn Brothers' broad strategy of positioning across multiple growth sectors.
Part of Broader Institutional Repositioning
Kahn Brothers' activity reflects wider institutional reshuffling in these stocks. The firm also took a $2.2 million position in Genie Energy during the quarter, purchasing 151,941 shares, according to Watchlist News. These multiple new positions suggest the fund is actively seeking growth opportunities across energy, healthcare, and financial services.
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