9AT: KAHN BROTHERS ADVISORS LLC

KAHN BROTHERS ADVISORS LLC

KAHN BROTHERS ADVISORS LLC

Adviser Profile

As of Date	09/16/2026
Registration	SEC, Approved, 10/17/1978
ADV Location	NEW YORK, NY, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	498,597,131 -20%
of that, discretionary	491,018,810 -20%
Number of Employees	5 -17%
of those in investment advisory functions	2 -33%
Private Fund GAV^*	0
Avg Account Size	1,420,505 -10%
% High Net Worth	40.46% -4%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Charitable organizations
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Reported AUM

688M 589M 491M 393M 295M 196M 98M

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Kahn Brothers Advisors LLC (“we” or “the Firm”) is a a Registered Investment Adviser founded and registered with the SEC in 1978. We are privately held and principally owned by Kahn Brothers Group Inc., Thomas Graham Kahn and Phyllis Kahn. As of December 31, 2023, we had approximately $621,500,000 of assets under management, comprising approximately $610,300000 on a discretionary basis and approximately $11,200,000 on a non-discretionary basis. We serve both non-institutional and institutional clients. For discretionary accounts, we allow considerable customization within our value investing framework, as well as customization on a non-discretionary basis. However, you must be familiar and comfortable with our investment approach. For more information on our approach, please see Item 8: Methods of Analysis, Investment Strategies & Risk of Loss. We primarily invest in publicly traded equities. We employ a modified Graham and Dodd value investing style that we have developed over time since our inception in 1978. Our strategy traces its roots to our founding chairman, Irving Kahn, who was a teaching assistant at Columbia Business School to Benjamin Graham, an early proponent

of value investing and fundamental analysis. Our principals have been using investment strategies evolved from this fundamental value approach throughout their professional careers. Our investment strategy seeks long-term total returns exceeding our benchmark with reasonable protections against permanent loss of capital. Our managers focus on long-term performance over many years and across market cycles. The time horizon of a typical investment is three to five years or longer. Although we do not sponsor wrap fee programs, our clients who engage outside financial institutions for various bundled services including brokerage services may be subject to wrap fee programs. We currently manage accounts pursuant to wrap fee programs sponsored by Morgan Stanley Smith Barney LLC. We charge these clients our customary advisory fees, which may be in addition to fees charged by the outside financial institution. Additionally, we manage portfolios at individually contracted rates for clients who have been referred by financial consultants. There is no difference in the manner in which we manage accounts with wrap fee programs or individually contracted rates and accounts without such programs or rates.