General American Investors Files Certified Shareholder Report for Period Ended June 30, 2021

Rhea-AI Summary

General American Investors Company, a closed-end fund traded on NYSE under the symbol GAM, submitted its Certified Shareholder Report for the six months ending June 30, 2021. The net assets applicable to common stock increased to $1.23 billion from $949 million year-over-year. The net assets per common share grew to $50.76, up from $38.51. However, net investment income dropped to $769,204 compared to $3.59 million for the previous year. The report indicates the value of net gain on investments at $172.29 million.

Positive

• Net assets applicable to common stock rose to $1.23 billion from $949 million YoY.
• Net assets per common share increased to $50.76 from $38.51 YoY.
• Net gain on investments reached $172.29 million.

Negative

• Net investment income fell to $769,204 from $3.59 million YoY.
• Total common shares outstanding decreased from 24,644,062 to 24,181,874.

General American Investors Company, Inc., a closed-end investment company listed on the New York Stock Exchange (GAM), filed with the U.S. Securities and Exchange Commission (SEC) its Certified Shareholder Report (Form N-CSR) for the six month period ended June 30, 2021. The Form N-CSR contains the Company’s June 30, 2021 Semi-Annual Report and is available at the SEC’s website: www.sec.gov and the Company’s website: www.generalamericaninvestors.com. The Semi-Annual Report is expected to be mailed to stockholders shortly.

The Semi-Annual Report indicates that as of or for the six months ended:

		6/30/21		6/30/20
Net Assets Applicable to Common Stock		$1,227,414,148		$949,029,117
Net Assets Per Common Share		$50.76		$38.51
Net Investment Income		$769,204		$3,590,316
Per Share		$0.03		$0.15
Net Loss/Gain on Investments		$172,290,450		($126,796,012)
Per Share		$7.21		($5.11)
Common Shares Outstanding		24,181,874		24,644,062

*	After dividends and distributions of $2.50 per share paid in December 2020.

The largest stock holdings in the Company’s portfolio as of June 30, 2021, included: Alphabet, Microsoft, Republic Services, ASML Holding, and Berkshire Hathaway.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005035/en/

FAQ

What were the net assets for General American Investors Company as of June 30, 2021?

The net assets applicable to common stock were $1.23 billion.

How much did the net investment income decline for General American Investors Company?

Net investment income decreased to $769,204 from $3.59 million.

What was the net gain on investments reported by General American Investors Company for the first half of 2021?

The net gain on investments was $172.29 million.

How many common shares were outstanding for General American Investors Company as of June 30, 2021?

There were 24,181,874 common shares outstanding.