13F
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GENERAL AMERICAN INVESTORS CO INC

13F equity value
$1.5B
Positions
68
Top 10 concentration
44.1%
Quarters / total new picks
30 / 87
13F equity value over time
$0M$803M$2B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 30 quarters, returned +6.0% per quarter — versus +3.5% per quarter from simply owning every 13F stock. It beat that baseline in only 60.0% of quarters (excess t = 0.13, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+0.5%
t-stat
0.13
Quarterly win rate
60%
Annualized excess
+6.8%
$1 → follow vs universe
$3.84 vs $2.48
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320190331: universe 0.98520190630: universe 1.05920190930: universe 1.13920191231: universe 0.91920200331: universe 1.10820200630: universe 1.22420200930: universe 1.50120201231: universe 1.56920210331: universe 1.58320210630: universe 1.71020210930: universe 1.53520220331: universe 1.64820220630: universe 1.52720220930: universe 1.64020221231: universe 1.52320230331: universe 1.60520230630: universe 1.54720230930: universe 1.75620231231: universe 1.83520240331: universe 1.87620240630: universe 2.04620240930: universe 2.02920241231: universe 1.89420250331: universe 2.06420250630: universe 2.12920250930: universe 2.39420251231: universe 2.477 20180331: follow 0.93520180630: follow 0.94520180930: follow 1.08220190331: follow 1.28620190630: follow 1.25520190930: follow 1.54520191231: follow 1.13320200331: follow 1.10420200630: follow 1.11920200930: follow 1.24420201231: follow 1.39620210331: follow 1.67620210630: follow 1.76620210930: follow 1.61820220331: follow 2.08720220630: follow 1.72520220930: follow 1.90420221231: follow 1.90120230331: follow 2.27320230630: follow 2.24020230930: follow 2.37120231231: follow 1.52420240331: follow 1.56920240630: follow 1.93120240930: follow 2.20520241231: follow 2.14420250331: follow 3.26920250630: follow 3.19120250930: follow 3.10920251231: follow 3.837 0.85 2.49 4.14 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 68 · 2026 Q1

Ticker Value Weight QoQ
GEV $79M
5.3%
TRIM
BRK/A $79M
5.2%
HOLD
TJX $77M
5.1%
TRIM
RSG $74M
4.9%
TRIM
ASML $73M
4.8%
TRIM
AAPL $67M
4.5%
TRIM
GOOG $60M
4.0%
TRIM
AMZN $60M
3.9%
HOLD
ACGL $51M
3.4%
TRIM
MSFT $47M
3.1%
TRIM
AVGO $43M
2.8%
TRIM
EG $42M
2.8%
HOLD
AEM $38M
2.5%
ADD
CCJ $37M
2.4%
TRIM
COST $33M
2.2%
HOLD
NNI $30M
2.0%
TRIM
RTX $29M
1.9%
TRIM
NVDA $28M
1.9%
HOLD
SOLV $25M
1.6%
HOLD
MRK $25M
1.6%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

BANOW

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.