Kahn Brothers (Trades, Portfolio), the firm founded by the late Irving Kahn and his two brothers Alan and Thomas, disclosed this week that its top four buys during the first quarter included a new position in JPMorgan Chase & Co. (NYSE:JPM) and boosts to Patterson-UTI Energy Inc. (NASDAQ:PTEN), ViewRay Inc. (NASDAQ:VRAY) and BP PLC (NYSE:BP).
According to the firm's website, Kahn Brothers (Trades, Portfolio)' investment philosophy has, over time, evolved from Benjamin Graham's original "discount to net asset purchase" model to a contrarian value strategy focusing on margin of safety and long-term capital appreciation. The firm employs a bottom-up stock selection approach and invests in undervalued, out-of-favor companies.
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Disclosure: No positions.
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This article first appeared on GuruFocus.