Saba Capital Management L.P. Has $107.56 Million Stock Holdings in General American Investors, Inc. $GAM

Key Points

• Saba Capital Management reduced its General American Investors stake by 11.8% in the first quarter, selling 246,292 shares. It still owned 1.84 million shares valued at $107.56 million, representing 7.67% of GAM and 3.0% of Saba’s portfolio.
• Other institutional investors increased their positions, including Lazard Asset Management, Blue Bell Private Wealth Management, Northwestern Mutual Wealth Management, Allspring Global Investments, and Royal Bank of Canada. Hedge funds and institutions collectively own 36.85% of GAM.
• GAM shares opened at $64.27, near the upper end of their 12-month range of $56.24 to $66.18. The stock’s 50-day and 200-day moving averages were $63.84 and $62.27, respectively.

Saba Capital Management L.P. cut its stake in General American Investors, Inc. (NYSE:GAM - Free Report) by 11.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,839,593 shares of the investment management company's stock after selling 246,292 shares during the period. General American Investors accounts for approximately 3.0% of Saba Capital Management L.P.'s portfolio, making the stock its 7th largest position. Saba Capital Management L.P. owned 7.67% of General American Investors worth $107,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lazard Asset Management LLC grew its holdings in shares of General American Investors by 13.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company's stock worth $92,422,000 after acquiring an additional 183,051 shares during the period. Blue Bell Private Wealth Management LLC raised its position in shares of General American Investors by 10.2% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 810,682 shares of the investment management company's stock worth $47,611,000 after acquiring an additional 75,259 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of General American Investors by 98,734.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 735,325 shares of the investment management company's stock worth $43,186,000 after acquiring an additional 734,581 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of General American Investors by 9.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company's stock valued at $25,197,000 after purchasing an additional 37,312 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of General American Investors by 3.7% in the 4th quarter. Royal Bank of Canada now owns 204,284 shares of the investment management company's stock valued at $11,998,000 after purchasing an additional 7,365 shares during the period. 36.85% of the stock is currently owned by hedge funds and other institutional investors.

General American Investors Stock Performance

NYSE GAM opened at $64.27 on Tuesday. General American Investors, Inc. has a twelve month low of $56.24 and a twelve month high of $66.18. The stock's 50 day moving average is $63.84 and its 200 day moving average is $62.27.

General American Investors Company Profile

General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.

The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.

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