Thomas Graham, Alan, Irving Kahns - Kahn Brothers Group 13F Activity & Position Changes (Q3 2025)

According to the SEC 13F filed on Nov 12, 2025, the Kahn Brothers Group portfolio showed several notable changes in holdings as of quarter-end Sep 30, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q3 2025, the filing reported:

New Buys - American Express Company, Brookfield Corporation, MBIA Inc., NVIDIA Corporation, Seaport Entertainment

Increases - Bayer A.G., Walt Disney Company (The), Alphabet Inc., Organon & Co., Webster Financial Corporation

Reductions - First National Bank Alaska, Peyto Exploration, Pine Cliff Energy, Tourmaline Oil, Antero Resources Corporation, and 22 more

Complete Exits - Trinity Place, American International Group, I

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q3 2025	32112J106 First National Bank Alaska	First National Bank Alaska	Sell	-1,300	-20.7%	$1.36M	4,990
Q3 2025	717046106 Peyto Exploration	Peyto Exploration	Sell	-450	-1.4%	$415.16K	31,857
Q3 2025	722524105 Pine Cliff Energy	Pine Cliff Energy	Sell	-10,000	-1.9%	$235.48K	520,000
Q3 2025	89156V106 Tourmaline Oil	Tourmaline Oil	Sell	-3,550	-12.7%	$1.05M	24,409
Q3 2025	896CNT011 Trinity Place	Trinity Place	Sell - Position Exit	-166,999	-100.0%	$0.00	-
Q3 2025	AIG American International Group, I	American International Group, I	Sell - Position Exit	-2,349	-100.0%	$0.00	-
Q3 2025	AR Antero Resources Corporation	Antero Resources Corporation	Sell	-7,064	-28.4%	$598.78K	17,842
Q3 2025	AXP American Express Company	American Express Company	Buy - Position Entry	+1,150	-	$381.98K	1,150
Q3 2025	BAC Bank of America Corporation	Bank of America Corporation	Sell	-761	-6.4%	$573.99K	11,126
Q3 2025	BAYRY Bayer A.G.	Bayer A.G.	Buy	+58,350	+0.9%	$56.27M	6,787,253
Q3 2025	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-278,349	-50.5%	$12.28M	272,334
Q3 2025	BN Brookfield Corporation	Brookfield Corporation	Buy - Position Entry	+3,380	-	$232.00K	3,380
Q3 2025	BP BP p.l.c.	BP p.l.c.	Sell	-43,765	-3.9%	$37.41M	1,085,607
Q3 2025	C Citigroup, Inc.	Citigroup, Inc.	Sell	-10,028	-1.1%	$88.98M	876,660
Q3 2025	CVX Chevron Corporation	Chevron Corporation	Sell	-50	-2.4%	$311.05K	2,003
Q3 2025	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+2,074	+0.5%	$45.17M	394,524
Q3 2025	G0585R106 Assured Guaranty	Assured Guaranty	Sell	-41,396	-94.1%	$219.24K	2,590
Q3 2025	GNE Genie Energy Ltd.	Genie Energy Ltd.	Sell	-7,127	-3.6%	$2.87M	191,872
Q3 2025	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+63,631	+89.5%	$32.81M	134,722
Q3 2025	GSK GSK plc	GSK plc	Sell	-399,035	-60.5%	$11.26M	260,837
Q3 2025	HLN Haleon plc	Haleon plc	Sell	-50,410	-42.6%	$610.20K	68,027
Q3 2025	IDT IDT Corporation	IDT Corporation	Sell	-4,207	-1.1%	$20.52M	392,357
Q3 2025	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Sell	-107	-3.9%	$841.57K	2,668
Q3 2025	MBI MBIA Inc.	MBIA Inc.	Buy - Position Entry	+1,029,794	-	$7.67M	1,029,794
Q3 2025	MRK Merck & Company, Inc.	Merck & Company, Inc.	Sell	-56,715	-11.6%	$36.40M	433,750
Q3 2025	NVDA NVIDIA Corporation	NVIDIA Corporation	Buy - Position Entry	+1,740	-	$324.78K	1,740
Q3 2025	NVS Novartis AG	Novartis AG	Sell	-4,145	-22.4%	$1.84M	14,326
Q3 2025	NYCB		Sell	-24,413	-0.6%	$49.63M	4,296,752
Q3 2025	OGN Organon & Co.	Organon & Co.	Buy	+126,695	+3.6%	$38.63M	3,616,845
Q3 2025	PFE Pfizer, Inc.	Pfizer, Inc.	Sell	-23,845	-3.3%	$18.02M	707,144

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