# Thomas Graham Kahn — Kahn Brothers Group Portfolio USD 632,676,000 · 47 positions · 2026 Q2 · history from 2012 Q1. Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/KB ## Positions (2026 Q2) | Ticker | Company | % of portfolio | Value | This quarter | Holders | |---|---|---:|---:|---|---:| | C | Citigroup Inc. | 19% | USD 117,054,000 | -0.54% | | | BAYRY | Bayer Ag Sponsored ADR | 14% | USD 89,308,000 | +0.07% | | | FLG | Flagstar Financial Inc. | 9.6% | USD 60,876,000 | -0.22% | | | GOOG | Alphabet Inc. CL C | 6.8% | USD 42,720,000 | -0.92% | | | Z | Zillow Group Inc. | 5.9% | USD 37,265,000 | +116.84% | | | OGN | Organon & Co. | 5.7% | USD 36,159,000 | -51.77% | | | DIS | Walt Disney Co. | 5.5% | USD 34,563,000 | -5.23% | | | MRK | Merck & Co. | 4.4% | USD 28,036,000 | -4.01% | | | MBI | MBIA Inc. | 4.3% | USD 27,475,000 | +104.91% | | | SEG | Seaport Entertainment Group | 3.9% | USD 24,392,000 | +2.66% | | | SEB | Seaboard Corp. | 3.8% | USD 24,058,000 | -8.21% | | | BP | BP plc | 3.7% | USD 23,094,000 | +0.44% | | | IDT | IDT Corp. CL B | 3.2% | USD 20,453,000 | -5.61% | | | PTEN | Patterson-UTI Energy Inc. | 2.4% | USD 15,273,000 | -1.56% | | | PFE | Pfizer Inc. | 1.8% | USD 11,173,000 | -4.28% | | | BMY | Bristol-Myers Squibb | 1.6% | USD 10,035,000 | +2.21% | | | GSK | GSK plc | 1.3% | USD 8,305,000 | -1.58% | | | XOM | ExxonMobil Holdings Corp. | 0.4% | USD 2,414,000 | -3.29% | | | GNE | Genie Energy Ltd. | 0.4% | USD 2,196,000 | -13.18% | | | NVS | Novartis AG | 0.3% | USD 2,067,000 | -1.49% | | | FRFHF | Fairfax Financial Holdings Ltd. | 0.3% | USD 1,674,000 | hold | | | CSX | CSX Corp. | 0.3% | USD 1,653,000 | -4.66% | | | FBAK | First National Bank Alaska | 0.3% | USD 1,556,000 | hold | | | TRMLF | Tourmaline Oil Corp | 0.2% | USD 1,127,000 | hold | | | JPM | JPMorgan Chase & Co. | 0.2% | USD 942,000 | +2.13% | | | AAPL | Apple Inc. | 0.1% | USD 895,000 | hold | | | MSFT | Microsoft Corp. | 0.1% | USD 809,000 | +3.63% | | | SEIC | SEI Investments | 0.1% | USD 579,000 | hold | | | HLN | Haleon Plc ADR | 0.1% | USD 544,000 | +3.38% | | | BAC | Bank of America Corp. | 0.1% | USD 539,000 | hold | | | PEYUF | Peyto Exploration & Development Corp. | 0.1% | USD 522,000 | hold | | | RFL | Rafael Holdings Inc. | 0.1% | USD 494,000 | +157% | | | WRLC | Windrock Ltd Co | 0.1% | USD 444,000 | +50.28% | | | IBM | International Business Machines | 0.1% | USD 345,000 | hold | | | DB | Deutsche Bank AG | 0.1% | USD 338,000 | hold | | | WBS-OLD | Webster Financial Corp. | 0.1% | USD 332,000 | new | | | PNC | PNC Financial Services | 0.1% | USD 330,000 | hold | | | CVX | Chevron Corp. | 0.1% | USD 324,000 | hold | | | OBT | Orange County Bancorp Inc | 0.1% | USD 294,000 | hold | | | PEG | Public Serv. Enterprise Inc. | 0.1% | USD 286,000 | hold | | | BX | Blackstone Group | <0.1% | USD 271,000 | hold | | | AM | Antero Midstream Corp. | <0.1% | USD 269,000 | hold | | | PG | Procter & Gamble | <0.1% | USD 257,000 | -5.4% | | | PEP | PepsiCo Inc. | <0.1% | USD 244,000 | hold | | | ZDGE | Zedge Inc. | <0.1% | USD 242,000 | +0.25% | | | VZ | Verizon Communications | <0.1% | USD 241,000 | hold | | | PIFYF | Pine Cliff Energy Ltd | <0.1% | USD 209,000 | hold | | ## Moves this quarter (30) - C Citigroup Inc.: -0.54% (USD 117,054,000) - BAYRY Bayer Ag Sponsored ADR: +0.07% (USD 89,308,000) - FLG Flagstar Financial Inc.: -0.22% (USD 60,876,000) - GOOG Alphabet Inc. CL C: -0.92% (USD 42,720,000) - Z Zillow Group Inc.: +116.84% (USD 37,265,000) - OGN Organon & Co.: -51.77% (USD 36,159,000) - DIS Walt Disney Co.: -5.23% (USD 34,563,000) - MRK Merck & Co.: -4.01% (USD 28,036,000) - MBI MBIA Inc.: +104.91% (USD 27,475,000) - SEG Seaport Entertainment Group: +2.66% (USD 24,392,000) - SEB Seaboard Corp.: -8.21% (USD 24,058,000) - BP BP plc: +0.44% (USD 23,094,000) - IDT IDT Corp. CL B: -5.61% (USD 20,453,000) - PTEN Patterson-UTI Energy Inc.: -1.56% (USD 15,273,000) - PFE Pfizer Inc.: -4.28% (USD 11,173,000) - BMY Bristol-Myers Squibb: +2.21% (USD 10,035,000) - GSK GSK plc: -1.58% (USD 8,305,000) - XOM ExxonMobil Holdings Corp.: -3.29% (USD 2,414,000) - GNE Genie Energy Ltd.: -13.18% (USD 2,196,000) - NVS Novartis AG: -1.49% (USD 2,067,000) - CSX CSX Corp.: -4.66% (USD 1,653,000) - JPM JPMorgan Chase & Co.: +2.13% (USD 942,000) - MSFT Microsoft Corp.: +3.63% (USD 809,000) - HLN Haleon Plc ADR: +3.38% (USD 544,000) - RFL Rafael Holdings Inc.: +157% (USD 494,000) - WRLC Windrock Ltd Co: +50.28% (USD 444,000) - WBS-OLD Webster Financial Corp.: new (USD 332,000) - PG Procter & Gamble: -5.4% (USD 257,000) - ZDGE Zedge Inc.: +0.25% (USD 242,000) - CMCSA Comcast Corp.: sold (USD 205,965) ## Portfolio value by quarter - 2012 Q1: USD 550,448,962 (24 positions) - 2012 Q2: USD 517,509,580 (24 positions) - 2012 Q3: USD 558,204,237 (24 positions) - 2012 Q4: USD 575,952,334 (24 positions) - 2013 Q1: USD 678,581,873 (25 positions) - 2013 Q2: USD 648,129,325 (25 positions) - 2013 Q3: USD 687,374,265 (26 positions) - 2013 Q4: USD 677,094,917 (27 positions) - 2014 Q1: USD 700,396,151 (27 positions) - 2014 Q2: USD 687,311,913 (28 positions) - 2014 Q3: USD 614,858,098 (29 positions) - 2014 Q4: USD 580,153,514 (29 positions) - 2015 Q1: USD 592,114,507 (29 positions) - 2015 Q2: USD 592,876,880 (29 positions) - 2015 Q3: USD 540,235,337 (29 positions) - 2015 Q4: USD 559,732,439 (29 positions) - 2016 Q1: USD 533,936,741 (29 positions) - 2016 Q2: USD 516,414,714 (29 positions) - 2016 Q3: USD 551,999,890 (29 positions) - 2016 Q4: USD 592,080,066 (29 positions) - 2017 Q1: USD 581,425,753 (30 positions) - 2017 Q2: USD 655,781,715 (30 positions) - 2017 Q3: USD 654,505,238 (30 positions) - 2017 Q4: USD 636,495,339 (29 positions) - 2018 Q1: USD 627,725,118 (30 positions) - 2018 Q2: USD 628,521,595 (30 positions) - 2018 Q3: USD 650,974,791 (30 positions) - 2018 Q4: USD 554,706,977 (30 positions) - 2019 Q1: USD 640,231,446 (31 positions) - 2019 Q2: USD 799,981,526 (44 positions) - 2019 Q3: USD 797,497,328 (48 positions) - 2019 Q4: USD 824,808,852 (47 positions) - 2020 Q1: USD 546,680,204 (48 positions) - 2020 Q2: USD 591,910,503 (47 positions) - 2020 Q3: USD 527,607,350 (42 positions) - 2020 Q4: USD 573,285,863 (42 positions) - 2021 Q1: USD 646,136,827 (42 positions) - 2021 Q2: USD 698,474,664 (43 positions) - 2021 Q3: USD 710,349,449 (43 positions) - 2021 Q4: USD 727,888,963 (43 positions) - 2022 Q1: USD 787,470,875 (46 positions) - 2022 Q2: USD 742,861,200 (45 positions) - 2022 Q3: USD 641,866,754 (45 positions) - 2022 Q4: USD 759,249,276 (45 positions) - 2023 Q1: USD 694,653,423 (45 positions) - 2023 Q2: USD 682,067,531 (43 positions) - 2023 Q3: USD 641,057,745 (43 positions) - 2023 Q4: USD 634,755,828 (43 positions) - 2024 Q1: USD 674,295,943 (53 positions) - 2024 Q2: USD 594,797,187 (52 positions) - 2024 Q3: USD 580,340,632 (53 positions) - 2024 Q4: USD 460,453,611 (52 positions) - 2025 Q1: USD 494,501,223 (55 positions) - 2025 Q2: USD 497,946,272 (50 positions) - 2025 Q3: USD 531,636,690 (53 positions) - 2025 Q4: USD 564,928,898 (53 positions) - 2026 Q1: USD 564,069,764 (47 positions) - 2026 Q2: USD 632,676,000 (47 positions)