General American Investors: 10,000 preferred shares bought
The chairman's purchase is attributed to a partnership, while separately reported trust shares carry a disclaimer of beneficial interest.
Rhea-AI Filing Summary
Hudson Partnership purchased 10,000 shares of GAM’s 5.95% Preferred Stock on September 23, 2026, at $22.75 per share. A footnote identifies Spencer Davidson, GAM’s Chairman, as the partnership’s General Partner. No Rule 10b5-1 plan is reported. Separately reported holdings through various trusts included 11,487 GAM shares and 5,000 shares of 5.95% Preferred Stock; Davidson stated that he discontinued service on two trusts in 2024 and disclaims beneficial interest in these shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 10,000 shares
Net Buy
6 txns
Insider
DAVIDSON SPENCER
Role
Insider
Bought
10,000 shs ($228K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | 5.95% Preferred Stock F1 | 10,000 | $22.75 | $228K |
| holding | GAM F1 | -- | -- | -- |
| holding | GAM F2 | -- | -- | -- |
| holding | GAM F3 | -- | -- | -- |
| holding | 5.95% Preferred Stock F3 | -- | -- | -- |
| holding | 5.95% Preferred Stock F2 | -- | -- | -- |
Holdings After Transaction:
5.95% Preferred Stock — 190,387 shares (Direct);
GAM — 1,427,514 shares (Direct);
GAM — 11,487 shares (Indirect, By Trusts);
5.95% Preferred Stock — 5,000 shares (Indirect, By Trusts)
Footnotes (3)
- F1. Shares held by Hudson Partnership of which Spencer Davidson is the General Partner.
- F2. By Various Trusts of which the undersigned is Trustee. The undersigned discontinued service on two Trusts in 2024 and disclaims any beneficial interest in these shares.
- F3. Shares held in an IRA account.
Key Figures
5.95% Preferred Stock purchased: 10,000 shares
Purchase price: $22.75 per share
GAM shares held through trusts: 11,487 shares
+1 more
4 metrics
5.95% Preferred Stock purchased
10,000 shares
Hudson Partnership purchase on September 23, 2026
Purchase price
$22.75 per share
5.95% Preferred Stock purchase on September 23, 2026
GAM shares held through trusts
11,487 shares
Reported as held by various trusts on September 23, 2026; Davidson disclaims beneficial interest in these shares
5.95% Preferred Stock held through trusts
5,000 shares
Reported as held by various trusts on September 23, 2026; Davidson disclaims beneficial interest in these shares
Key Terms
General Partner, beneficial interest, Trustee, IRA account
4 terms
General Partner financial
"Spencer Davidson is the General Partner"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
beneficial interest financial
"disclaims any beneficial interest in these shares"
Beneficial interest is the right to receive the economic benefits of an asset—such as dividends, interest, or sale proceeds—without necessarily holding legal title to it. For investors this matters because it determines who actually gains from an investment or trust, much like renting an apartment where the tenant enjoys living there and paying bills while the landlord holds the deed; understanding who has the beneficial interest affects income rights, voting influence, and risk exposure.
Trustee financial
"of which the undersigned is Trustee"
A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.
IRA account financial
"Shares held in an IRA account"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Was the GAM preferred-stock purchase made under a Rule 10b5-1 plan?
No Rule 10b5-1 plan is reported for the purchase.
AI-generated analysis. How Rhea-AI works. Not financial advice.
