A New York family firm founded by Benjamin Graham's disciple Irving Kahn and his sons, committed to value investing for three generations.
Life story
Irving Kahn was born on 19 December 1905 and attended City College of New York. He began investing in 1928; his first trade — a short sale of a copper mining stock in summer 1929 — came before the October crash. His family was famously long-lived: his sister Helen also reached 109 and his brother Peter 103.
How they got started
In the 1930s Kahn was Benjamin Graham's teaching assistant at Columbia Business School and became one of the earliest followers of value investing — so close to Graham that he named his son Thomas Graham Kahn.
In 1978 Irving founded Kahn Brothers with his sons Thomas and Alan. Irving stayed active until his death in February 2015 at 109, known as Wall Street's oldest active money manager. Thomas, who worked at the firm for decades and contributed to the fourth edition of "The Intelligent Investor," died on 17 August 2026 at 83 and was succeeded at the firm by his son Andrew.
Investment style
The firm evolved from Graham's net-asset-discount model into a contrarian value strategy focused on margin of safety and long-term capital appreciation. The Kahns stress that they buy the same stocks for clients as for themselves and their families.
Even late in life, Irving Kahn said he got great pleasure from finding a cheap stock — a fair summary of the firm's patient style.
Best decisions
The 1929 short
Kahn's very first trade, a short on a copper company, came before the 1929 crash and taught him early that markets often get too optimistic.
Three generations of continuity
A family firm that has kept one philosophy from Graham's era to today is rare in investing.
Biggest mistakes
Limited information
We found no reliable public information on the firm's specific failed investments. A classic value style naturally lags in years led by growth stocks.
Today
In 2026 the firm is run by a team including Irving's grandson Andrew Kahn; it is based at 555 Madison Avenue in New York and offers investment management and brokerage services.
What to learn from following the portfolio
- Kahn Brothers holds cheap, overlooked companies for years — long-held positions say the most.
- Classic value investors often own banks, insurers and leveraged companies, which usually fail halal screening. See each position's halal status on the Portfolio tab.
- A reduced position isn't always a negative signal — it often means the price reached fair value.
- 13F filings lag by 45 days and show only long US equities.
An introduction based on public sources — not investment advice. Spotted an error? Let us know.