General American Investors Reports Net Assets as of March 31, 2022

Rhea-AI Summary

General American Investors Company, as of March 31, 2022, reported net assets applicable to its common stock at $1,233,414,742, a decline from $1,282,788,664 on December 31, 2021. The decrease included a net operational loss of $35,251,461 and a net reduction of $1,939,451 due to stock repurchases. Notable investments included Microsoft, Alphabet, and Apple. The company paid $12,183,010 to shareholders in February 2022 and reported a net loss on investments of (32,918,869).

Positive

• Net investment income increased to $495,401 from $35,300 YoY.
• Net assets applicable to common stock grew from $1,135,515,720 on March 31, 2021, to $1,233,414,742 as of March 31, 2022.

Negative

• Net operational loss of $35,251,461 for the quarter.
• Net loss on investments of (32,918,869) compared to a gain of 69,359,528 YoY.
• Reduction in total net assets due to stock repurchases and distribution to shareholders.

NEW YORK--(BUSINESS WIRE)-- General American Investors Company, Inc., a closed-end investment company listed on the New York Stock Exchange (GAM), reported net assets applicable to the Company’s common stock as of March 31, 2022 of $1,233,414,742 as compared with net assets applicable to its common stock of $1,282,788,664 at December 31, 2021. The value at March 31, 2022 reflects a decrease in net assets resulting from operations for the three-month period then ended of $35,251,461, a net decrease of $1,939,451 reflecting the net cost of repurchasing 49,766 shares of the Company’s common stock partially offset by the issuance of 2,730 shares, and a distribution of $12,183,010 to common shareholders paid on February 18, 2022.

The first quarter report indicates that as of and for the three months ended:

	3/31/22	3/31/21
Net Assets Applicable to Common Stock	$1,233,414,742	$1,135,515,720
Per Common Share	$50.66*	$46.55
Net Investment Income	$495,401	$35,300
Per Common Share	$0.02	$0.00
Net Loss/Gain on Investments	(32,918,869)	69,359,528
Per Common Share	($1.33)	$2.92
Common Shares Outstanding	24,345,098	24,393,364
Dividends and Distributions to Preferred Stockholders	$2,827,993	$2,827,993
Per Common Share	$0.12	$0.12
*After dividends and distributions of $3.05 per share paid in December, 2021 and $0.50 per share paid in February, 2022.

The five largest stock holdings in the Company’s portfolio at March 31, 2022 included Microsoft, Alphabet, Republic Services, Berkshire Hathaway, and Apple.

The quarterly report to stockholders also contains a report on the results of the annual meeting of stockholders, market commentary, and changes in portfolio holdings during the quarter ended March 31, 2022.

For more current information concerning the Company’s net asset value per common share and market price, please visit the Company’s website at: www.generalamericaninvestors.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005012/en/

Company Contact: Eugene S. Stark

Vice-President, Administration

(212) 916-8447

Source: General American Investors Company, Inc.

FAQ

What are the net assets of General American Investors as of March 31, 2022?

As of March 31, 2022, General American Investors reported net assets applicable to its common stock of $1,233,414,742.

What was the net loss on investments for GAM in Q1 2022?

General American Investors recorded a net loss on investments of (32,918,869) for the first quarter of 2022.

How much net investment income did General American Investors report for Q1 2022?

The company reported net investment income of $495,401 for the first quarter of 2022.

What was the dividend payout to shareholders in February 2022?

General American Investors paid $12,183,010 to common shareholders on February 18, 2022.

Who are the largest stock holdings of General American Investors as of March 31, 2022?

The largest stock holdings included Microsoft, Alphabet, Republic Services, Berkshire Hathaway, and Apple.