General American Investors Reports Net Assets as of March 31, 2023

NEW YORK–(BUSINESS WIRE)–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, 2023 of $1,117,915,278 as compared with net assets applicable to its common stock of $1,041,159,645 at December 31, 2022. The value at March 31, 2023 reflects a increase in net assets resulting from operations for the three-month period then ended of $77,481,168 and a net decrease of $725,535 reflecting the net cost of repurchasing 19,246 shares of the Company’s common stock.

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

The five largest stock holdings in the Company’s portfolio at March 31, 2023 included Republic Services, Microsoft, Arch Capital, ASML Holding, and Apple.

The quarterly report to stockholders also contains a report on the results of the annual meeting of stockholders, market commentary, and changes in portfolio holdings during the quarter ended March 31, 2023.

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.

Contacts

Eugene S. Stark

Vice-President, Administration

(212) 916-8447