Welcome to our dedicated page for GENERAL AMERICAN INVESTORS CO SEC filings (Ticker: GAM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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General American Investors Company, Inc. has called its 2026 annual stockholder meeting for April 15, 2026 in New York City. Stockholders will vote on electing eleven directors and ratifying Ernst & Young LLP as independent auditors for the 2026 fiscal year.
As of February 18, 2026, the company had 23,986,608 common shares and 7,601,553 preferred shares outstanding, each with one vote. Nine directors are elected by common and preferred stock voting together, and two by preferred holders only. Directors and officers as a group beneficially owned 7.93% of common stock and 3.86% of preferred stock as of December 31, 2025.
The board, which is majority independent, recommends voting “FOR” all director nominees and “FOR” auditor ratification. The proxy describes board committees, director qualifications, executive and director compensation, retirement and thrift plans, and detailed audit and tax fees paid to Ernst & Young LLP.
General American Investors Company, Inc. reports strong 2025 results, with net asset value (NAV) per common share rising from $57.78 to $65.20. On a NAV basis, the fund returned 25.75% including reinvested distributions, beating the S&P 500’s 17.88% total return.
Market-price return to common shareholders was 28.31%, helped by the trading discount to NAV narrowing from 11.7% to 9.9%. Net assets applicable to common stock reached $1.57 billion, and the fund used roughly 12.1% preferred-stock leverage while keeping expenses at 1.07% of average common net assets.
Information Technology, Financials, and Industrials were the largest sector exposures, and the ten biggest holdings, including Alphabet, Microsoft, Berkshire Hathaway, TJX, Apple, ASML, Amazon, and GE Vernova, represented 47.8% of common net assets. The fund continued its long-term capital appreciation focus, modest portfolio turnover, and annual common distributions largely driven by long-term capital gains.
GAM filed a Form N-CEN annual report as a registered investment company, providing structural and activity data rather than performance results. The report outlines required items such as registrant background, governance, service providers, and trading activity.
The fund discloses that brokers received aggregate brokerage commissions of 846,936 for the reporting period, with individual brokers paid gross commissions including 215,791, 101,991, 73,559, 66,695, 47,842, 43,942, 43,810, 41,477, 39,930, and 34,289. It also reports principal transactions with several dealers, with total values of purchases and sales of 787,500, 472,500, 236,250, and 78,750, giving investors a view of the fund’s trading relationships and volumes.
General American Investors Co. Inc. filed a Form 13F reporting its institutional holdings as recorded on this filing. The report lists 81 holdings with a total market value of $1,772,348,696. The filing is signed by Eugene S. Stark on 02-13-2026.
General American Investors Company senior vice president Anang K. Majmudar reported open-market purchases of the company’s 5.95% Preferred Stock. On February 3, 2026, he bought 1,700 shares at $25 per share, and on February 4, 2026, he bought an additional 1,095 shares at $25 per share.
After these transactions, he directly owned 10,500 shares of 5.95% Preferred Stock. He also reported 5,218 common shares held directly and 33,624 common shares held indirectly by the issuer’s Employees’ Thrift Plan Trust, where he disclaims any beneficial interest in those trust-held shares.
General American Investors Company, Inc. executive Anang K. Majmudar reported buying additional preferred stock. As Senior Vice-President, he filed a Form 4 showing an open-market purchase (code P) on January 13, 2026 of 64 shares of 5.95% Preferred Stock at $24.98 per share.
After this transaction, he directly held 7,705 shares of 5.95% Preferred Stock. The filing also shows direct ownership of 4,703 shares of the company’s common stock and indirect ownership of 28,787 common shares through the issuer’s Employees’ Thrift Plan Trust, where the filing states he disclaims any beneficial interest in those trust-held shares.
General American Investors Company officer Eugene S. Stark, VP Administration/CCO/PFO, reported buying 4,000 shares of the company’s 5.95% Preferred Stock on January 13, 2026 at $24.98 per share. Following this purchase, he directly holds 24,000 shares of this preferred stock, with additional preferred shares held in an IRA and by his spouse.
For the company’s common stock (GAM), Stark reports 10,000 shares held in a joint account with his spouse and 89,637 shares held by the issuer’s Employees’ Thrift Plan Trust, for which he disclaims any beneficial interest. Some preferred and common holdings are reported as indirect, including shares held in his spouse’s IRA.
General American Investors Company, Inc. chairman Spencer Davidson reports beneficial ownership of 1,439,001 shares of common stock, representing 6.0% of the outstanding shares as of December 31, 2025. The amendment updates his Schedule 13D to align with a January 5, 2026 Form 4/A.
The filing states that changes in his holdings arose from company share repurchases, the termination or expiration of certain trusts, and reinvestment of dividends or distributions. Davidson holds the shares for investment purposes for his own account and, other than matters arising from his role as a director, currently has no plans or proposals relating to major corporate actions such as mergers, asset sales, or changes in control.
General American Investors Co. Inc. chairman Spencer Davidson filed an amended insider ownership report. The filing updates his beneficial holdings in both the company’s common stock (GAM) and its 5.95% preferred stock as of a transaction date of 12/08/2025, correcting balances previously reported.
Following the corrections, Davidson is shown as beneficially owning 1,422,966 shares of GAM common stock directly, 11,487 common shares indirectly through trusts, and 4,548 common shares in an IRA. He also reports 179,387 shares of 5.95% preferred stock held directly, 1,000 preferred shares in an IRA, and 5,000 preferred shares held indirectly through trusts. The amendment is described as made "to correct balance previously reported," and does not describe new derivative securities.
General American Investors Company, Inc. insider trading report: President and CEO Jeffrey W. Priest reported buying 5.95% Preferred Stock of the company on 12/10/2025. He acquired 16,608 shares in an open-market purchase coded "P" at a price of $25.0037 per share.
After this transaction, Mr. Priest directly owned 34,891 shares of the 5.95% Preferred Stock. He also reported beneficial ownership of the company’s common stock GAM both directly and indirectly, including shares held by a parent, under power of attorney, and through an employees’ thrift plan trust, while disclaiming beneficial interest in certain indirect holdings.