Market Overview

General American Investors Files Certified Shareholder Report for Period Ended June 30, 2014

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, 2014. The Form N-CSR contains the Company's June 30, 2014 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.

Financial Information

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

         

6/30/14

6/30/13

 
Net Assets Applicable to Common Stock $1,282,274,345 $1,091,097,352
 
Net Assets Per Common Share $43.45* $36.97
 
Net Investment Income $4,746,905 $3,776,744
 
Per Share $.16 $.13
 
Net Gain on Investments $68,554,571 $129,446,574
 
Per Share $2.41 $4.35
 

Common Shares Outstanding

29,513,265 29,516,550
 
* After dividends and distributions of $2.10 per share paid in December 2013.

Securities Transactions and Positions

The Company reported that it made new commitments during the second quarter of 2014 in Bob Evans Farms, Inc., eBay Inc., Ensco plc – Class A, and Hertz Global Holdings, Inc., and increased its holdings in Cameco Corporation and Danone.

The Company's position in The ADT Corporation was eliminated, while reductions were made in the holdings of Anadarko Petroleum Corporation, Aon Corporation, Halliburton Company, Idenix Pharmaceuticals, Inc., PepsiCo, Inc., QUALCOMM Incorporated, Visteon Corporation and Weatherford International plc.

The largest stock holdings in the Company's portfolio at June 30, 2014 included: The TJX Companies, Inc., Costco Wholesale Corp., Halliburton Company, Apple Inc., and Arch Capital Group Ltd.

General American Investors Company, Inc.
Eugene S. Stark, 212-916-8447
Vice-President, Administration

 

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