General American Investors chair buys 179 shares at $24.98

General American Investors Co. (GAM) reported insider activity: Chairman Spencer Davidson purchased 5.95% Preferred Stock in two open-market transactions.

Rhea-AI Filing Summary

General American Investors Co. (GAM) reported insider activity: Chairman Spencer Davidson purchased 5.95% Preferred Stock in two open-market transactions. He bought 179 shares at $24.98 on 11/05/2025 and 168 shares at $24.99 on 11/06/2025. Following these transactions, direct holdings of the 5.95% Preferred Stock were 122,419 shares and then 122,587 shares.

The filing also lists other beneficial ownership: Common Stock of 1,422,966 shares direct, 11,487 shares indirect by trusts, and 4,548 shares direct held in an IRA. For the 5.95% Preferred Stock, additional positions shown include 1,000 shares direct in an IRA and 5,000 shares indirect by trusts.

Insider Trade Summary

Net Buyer: 347 shares

Net Buy 7 txns

Insider DAVIDSON SPENCER

Role Insider

Bought 347 shs ($9K)

Type	Security	Shares	Price	Value
Purchase	5.95% Preferred Stock	168	$24.99	$4K
Purchase	5.95% Preferred Stock	179	$24.98	$4K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	5.95% Preferred Stock	--	--	--
holding	5.95% Preferred Stock	--	--	--

Holdings After Transaction: 5.95% Preferred Stock — 123,587 shares (Direct); Common Stock — 1,427,514 shares (Direct); Common Stock — 11,487 shares (Indirect, By Trusts); 5.95% Preferred Stock — 5,000 shares (Indirect, By Trusts)

Footnotes (3)

1. F1. Shares held by Hudson Partnership of which Spencer Davidson is the General Partner.
2. F2. By Various Trusts of which the undersigned is Trustee. The undersigned discontinued service on two Trusts in 2024 and disclaims any beneficial interest in these shares.
3. F3. Shares held in an IRA account.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did GAM’s chairman report buying in the latest Form 4?

He purchased 5.95% Preferred Stock in two transactions: 179 shares at $24.98 and 168 shares at $24.99.

When did Spencer Davidson make the reported purchases for GAM (GAM)?

The purchases occurred on 11/05/2025 and 11/06/2025.

What are Davidson’s direct holdings of GAM 5.95% Preferred Stock after the transactions?

The filing shows 122,419 and then 122,587 shares direct following the reported transactions.

What Common Stock holdings are listed for Spencer Davidson in the Form 4?

Common Stock holdings listed include 1,422,966 shares direct, 11,487 shares indirect by trusts, and 4,548 shares direct in an IRA.

Are there additional indirect or IRA holdings of GAM preferred shares?

Yes. The filing lists 1,000 preferred shares direct in an IRA and 5,000 preferred shares indirect by trusts.

What is Spencer Davidson’s relationship to General American Investors?

He is reported as Chairman and filed as one reporting person.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/06/2025 - 04:51 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DAVIDSON SPENCER

(Last) (First) (Middle)

GENERAL AMERICAN INVESTORS CO INC

530 FIFTH AVE - 26TH FLOOR

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GENERAL AMERICAN INVESTORS CO INC [ GAM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Chairman

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								1,422,966	D(1)
Common Stock								11,487	I(2)	By Trusts
Common Stock								4,548	D(3)
5.95% Preferred Stock	11/05/2025		P		179	A	$24.98	122,419	D(1)
5.95% Preferred Stock	11/06/2025		P		168	A	$24.99	122,587	D(1)
5.95% Preferred Stock								1,000	D(3)
5.95% Preferred Stock								5,000	I(2)	By Trusts

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares held by Hudson Partnership of which Spencer Davidson is the General Partner.

2. By Various Trusts of which the undersigned is Trustee. The undersigned discontinued service on two Trusts in 2024 and disclaims any beneficial interest in these shares.

3. Shares held in an IRA account.

	/s/Spencer Davidson	11/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.