General American Investors Reports Net Assets as of September 30, 2023
October 01, 2023 at 01:46 am IST
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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 September 30, 2023 of $1,163,954,850 as compared with net assets applicable to its common stock of $1,041,159,645 at December 31, 2022. The value at September 30, 2023 reflects an increase in net assets resulting from operations for the nine-month period of $141,419,172, a reduction of $18,623,967 representing the cost of repurchasing 456,016 shares of the Company’s common stock.
Net asset value per share of common stock at September 30, 2023 was $49.48, as compared with $43.42 per share at December 31, 2022.
The third quarter report indicates that as of and for the nine months ended:
9/30/2023
9/30/2022
Net Assets Applicable to Common Stock
$1,163,954,850
$967,087,331
Per Common Share
$49.48*
$40.43
Net Investment Income
$8,562,530
$4,117,537
Per Common Share
$0.36
$0.16
Net Gain (Loss) on Investments
$141,340,621
($281,315,175)
Per Common Share
$6.06
($11.47)
Dividends and Distributions to Preferred Stockholders
$8,483,979
$8,483,979
Per Common Share
$0.36
$0.35
Dividends and Distributions to Common Stockholders
$0.00
$12,183,010
Per Common Share
$0.00
$0.50
Common Shares Outstanding
23,523,006
23,921,324
*
After dividends and distributions of $1.00 per share paid to common stockholders in December 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/20231031703250/en/
General American Investors Company, Inc. is a closed-end, diversified management investment company. The primary investment objective of the Company is long-term capital appreciation. The Company seeks investments worldwide in public and private companies. The Company invests in various industry sectors, such as information technology, financials, consumer discretionary, healthcare, consumer staples, industrials, communication services, energy, materials and other. The Companyâs portfolio includes Republic Services, Inc., Microsoft Corporation, Arch Capital Group Ltd., Alphabet Inc., Berkshire Hathaway Inc., Apple Inc., Everest Group, Ltd., The TJX Companies, Inc., ASML Holding N.V. and Nestle S.A.