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General American Investors Reports Net Assets As Of March 31, 2011

Stocks in this article: GAM

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, 2011 of $1,003,834,212 as compared with net assets applicable to its common stock of $950,940,936 at December 31, 2010. The value at March 31, 2011 reflects an increase in net assets resulting from operations for the three month period then ended of $53,320,198 and a decrease of $426,922 reflecting the cost of repurchasing 15,075 shares of the Company’s common stock.

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

 

3/31/11

 

3/31/10

 
Net Assets Applicable to Common Stock $1,003,834,212 $895,562,192
Per Common Share $33.01* $28.97
 
Net Investment Income (Loss) ($79,306) $1,131,939
Per Common Share $0.04
 
Net Gain on Investments $56,227,497 $44,704,412

Per Common Share

$1.84 $1.51
 
Common Shares Outstanding 30,408,219 30,917,212
 
Dividends and Distributions to Preferred Stockholders $2,827,993 $2,827,996
Per Common Share $0.09 $0.09
 
*After dividend and distribution of $0.43 per share paid in December 2010.

The five largest stock holdings in the Company’s portfolio at March 31, 2011 included The TJX Companies, Inc.; Weatherford International; Costco Wholesale Corporation; Apache Corporation; and QUALCOMM Incorporated.

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