In plain terms — General American Investors Co
Shares currently cost about 12.8% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 10.9% discount, so today's level is somewhat wide for this fund (Z-score -1.8). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 4.1% a year of the share price (3.6% of the assets). That is a payout rate, not a return: part of it may be capital being handed back, and a one-off special payment in the last year is excluded from the regular rate.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.15 of assets — a ReinvestCapture™ rate of 4.7%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 16.9% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -11.49% | 1.04% | -1.09 | 55 |
| 6 months | -11.18% | 1.15% | -1.25 | 107 |
| 1 year | -10.88% | 0.99% | -1.77 | 205 |
| 3 years | -13.80% | — | — | — |
| 5 years | -15.02% | — | — | — |
Current contemporaneous premium/discount -12.62% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -13.81% to -7.40%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -1.89% | -0.85% | +8.72% | +1.48% | +15.51% | +7.64% |
| Market price total return | -1.89% | -0.85% | +8.72% | +12.89% | +26.09% | +15.91% |
| NAV return | +0.99% | +2.43% | +14.01% | +6.18% | +14.06% | +7.18% |
| NAV total return | +0.99% | +2.43% | +14.01% | +16.93% | +23.08% | +14.21% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
General American Investors Company, Inc. is a publicly owned investment manager. The firm invests in the public equity markets of United States. It invests in growth stocks of companies. It makes investments in Information Technology, Financials, Consumer Staples, Consumer Discretionary, Retailing, Communication Services, Industrials, Health Care, Energy and Materials. The firm employs fundamental analysis with a bottom-up stock picking approach to make its investments. It conducts in-house research to make its investments. General American Investors Company, Inc. was founded in 1927 and is based in New York, New York.
CEF Explorer research page for General American Investors Co Inc. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.