General American Investors Files Certified Shareholder Report for Period Ended June 30, 2024

Rhea-AI Summary

General American Investors Company (NYSE: GAM) has filed its Certified Shareholder Report for the six-month period ended June 30, 2024, with the SEC. The report reveals significant growth in the company's financial position compared to the same period in 2023:

- Net Assets Applicable to Common Stock increased to $1,402,088,131 from $1,200,083,087
- Net Assets Per Common Share rose to $60.14 from $50.48
- Net Gain on Investments grew to $188,287,805 from $166,692,175

The company's largest stock holdings as of June 30, 2024, include Microsoft, Republic Services, Alphabet, ASML Holding, and Berkshire Hathaway. The Semi-Annual Report is available on the SEC's website and the company's website, and will be mailed to stockholders soon.

Positive

• Net Assets Applicable to Common Stock increased by 16.8% to $1,402,088,131
• Net Assets Per Common Share grew by 19.1% to $60.14
• Net Gain on Investments rose by 13% to $188,287,805

Negative

• Net Investment Income slightly decreased from $6,013,170 to $5,740,826
• Common Shares Outstanding reduced from 23,775,433 to 23,313,823

Insights

Financial Analyst

General American Investors' semi-annual report reveals significant growth in net assets, rising from $1.20 billion to $1.40 billion year-over-year, a 16.8% increase. This growth is reflected in the net asset value per share, which jumped from $50.48 to $60.14, representing a robust 19.1% increase. The company's net gain on investments also saw a notable uptick, from $166.7 million to $188.3 million, translating to an increase from $7.05 to $8.17 per share. These figures indicate strong performance and effective investment strategies. However, it's worth noting a slight decrease in net investment income and a reduction in common shares outstanding, which could impact future earnings potential.

Market Research Analyst

The portfolio composition of General American Investors provides valuable insights into their investment strategy and market outlook. The top holdings include tech giants Microsoft and Alphabet, suggesting a strong belief in the continued growth of the technology sector. The inclusion of ASML Holding, a key player in semiconductor equipment, indicates confidence in the semiconductor industry's future. Republic Services, a waste management company, represents a defensive play, while Berkshire Hathaway offers exposure to a diversified conglomerate. This mix of growth, technology and value stocks demonstrates a balanced approach to portfolio management, potentially providing both growth opportunities and stability in various market conditions.

NEW YORK--(BUSINESS WIRE)-- 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, 2024. The Form N-CSR contains the Company’s June 30, 2024 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:

	6/30/24	6/30/23
Net Assets Applicable to Common Stock	$1,402,088,131	$1,200,083,087
Net Assets Per Common Share	$60.14*	$50.48
Net Investment Income	$5,740,826	$6,013,170
Per Share	$0.25	$0.25
Net Gain on Investments	188,287,805	166,692,175
Per Share	$8.17	$7.05
Common Shares Outstanding	23,313,823	23,775,433

*	After a distribution of $2.01 per share from net long-term capital gains and a dividend of $0.64 per share paid in December 2023.

The largest stock holdings in the Company’s portfolio as of June 30, 2024, included: Microsoft, Republic Services, Alphabet, ASML Holding, and Berkshire Hathaway.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240805266596/en/

Eugene S. Stark

Vice-President, Administration

(212) 916-8447

Source: General American Investors Company, Inc.

FAQ

What was General American Investors' (GAM) Net Asset Value per share as of June 30, 2024?

General American Investors' (GAM) Net Asset Value per share was $60.14 as of June 30, 2024, after a distribution of $2.01 per share from net long-term capital gains and a dividend of $0.64 per share paid in December 2023.

How did General American Investors' (GAM) Net Gain on Investments perform in the first half of 2024?

General American Investors' (GAM) Net Gain on Investments for the six months ended June 30, 2024, was $188,287,805, or $8.17 per share, showing an increase from $166,692,175, or $7.05 per share, in the same period of 2023.

What were the top stock holdings in General American Investors' (GAM) portfolio as of June 30, 2024?

The largest stock holdings in General American Investors' (GAM) portfolio as of June 30, 2024, included Microsoft, Republic Services, Alphabet, ASML Holding, and Berkshire Hathaway.

How can shareholders access General American Investors' (GAM) Semi-Annual Report for the period ended June 30, 2024?

Shareholders can access General American Investors' (GAM) Semi-Annual Report for the period ended June 30, 2024, on the SEC's website (www.sec.gov) and the Company's website (www.generalamericaninvestors.com). The report is also expected to be mailed to stockholders shortly.