Kahn Brothers Group Portfolio Update: December 2025

Thomas Graham, managing the Kahn Brothers Group portfolio worth $564.7 million as of December 31, 2025, held 10 significant stock positions.

The largest holding was Citigroup Inc (C), representing 18.11% of the portfolio. Mr. Graham reduced his stake slightly, decreasing the share count by 0.04% and the stock value by $2.2 million year-over-year.

Bayer AG Spons ADR (BAYRY) allocation decreased to 12.94%, a reduction of 0.49% in shares and a value decline of $4.2 million. Flagstar Financial, Inc. (NYCB) saw its portfolio weight drop to 9.31%, following a 2.78% share reduction and a $5.3 million value decrease.

Merck & Co. Inc. (MRK) allocation fell to 8.02%, with a 0.84% share decrease and a $3.3 million value reduction. Walt Disney (DIS) allocation remained at 7.95%, but shares decreased slightly by 0.04% ($0.5 million value reduction).

Alphabet Inc Class C (GOOG) allocation increased to 7.52%, following a small 0.52% share increase and a $2.5 million value gain. BP PLC (BP) allocation decreased to 6.39%, with a 4.35% share reduction and a $3.6 million value decline.

Seaboard Corp (SEB) allocation fell to 5.73%, following a 5.68% share decrease and an $8.3 million value reduction. Organon & Co (OGN) allocation increased to 4.61%, following a small 0.35% share increase and a $2.6 million value gain.

Idt Corp Class B (IDT) allocation decreased to 3.55%, following a small 0.09% share reduction and a $0.5 million value decline.