Spencer Davidson Amends GAINV 13D Filing, Updates Ownership

TL;DR

**Spencer Davidson just updated his GAINV ownership, signaling a change in his reported stake.**

AI Summary

Spencer Davidson, a key figure at General American Investors Company, Inc., filed an Amendment No. 4 to Schedule 13D on January 3, 2024, updating his beneficial ownership of the company's Common Stock, par value $1.00 per share, as of December 31, 2023. This filing indicates a change in his reported holdings, which is important for investors as it provides transparency into the ownership structure and potential influence of significant insiders. Investors should note this update as changes in insider ownership can sometimes signal confidence or lack thereof in the company's future prospects.

Why It Matters

This filing updates Spencer Davidson's reported beneficial ownership in General American Investors Company, Inc., offering transparency into a significant insider's stake and potential influence.

Risk Assessment

Risk Level: low — This is a routine amendment to an existing filing, indicating a change in reported ownership rather than a new, high-impact event.

Analyst Insight

Investors should note this update as a routine disclosure of insider ownership changes. While not immediately actionable, it contributes to a broader understanding of insider activity and can be factored into long-term sentiment analysis for General American Investors Company, Inc.

Key Players & Entities

• Spencer Davidson (person) — Reporting Person and authorized contact for General American Investors Company, Inc.
• General American Investors Company, Inc. (company) — The Issuer of the Common Stock
• $1.00 (dollar_amount) — Par value per share of Common Stock
• December 31, 2023 (date) — Date of event requiring the filing
• January 3, 2024 (date) — Date the SC 13D/A was filed

FAQ

Key Financial Figures

• $1.00 — al ownership of shares of common stock, $1.00 par value per share (the “Shares&

Filing Documents

• gainv-sc13da_123123.htm (SC 13D/A) — 42KB
• 0001999371-24-000041.txt ( ) — 43KB

From the Filing

SC 13D/A 1 gainv-sc13da_123123.htm AMENDMENT TO FORM SC 13D UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 4)* General American Investors Company, Inc. (Name of Issuer) Common Stock, par value $ 1.00 per share (Title of Class of Securities) 368802104 (CUSIP Number) Spencer Davidson 530 Fifth Avenue, 26 th Floor New York, NY 10036 1-800-436-8401 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 31, 2023 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 368802104 1. Names of Reporting Persons. Spencer Davidson 2. Check the Appropriate Box if a Member of a Group (a) (b) 3. SEC Use Only 4. Source of Funds OO, PF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization United States of America Number of Shares Beneficially Owned by Each Reporting Person With: 7. Sole Voting Power 1,427,514 8. Shared Voting Power 21,784 9. Sole Dispositive Power 1,427,514 10. Shared Dispositive Power 21,784 11. Aggregate Amount Beneficially Owned by Each Reporting Person 1,449,298 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares 13. Percent of Class Represented by Amount in Row (11) 6.11% 14. Type of Reporting Person IN ITEM 1. SECURITY AND ISSUER This Schedule 13D is being filed to report the beneficial ownership of shares of common stock, $1.00 par value per share (the “Shares”), of General American Investors Company, Inc. (the “Issuer”). The address of the principal executive offices of the Issuer is 530 Fifth Ave, New York, NY 10036. ITEM 2. IDENTITY AND BACKGROUND (a) This Schedule 13D is being filed by Spencer Davidson, a citizen of the United States of America. (b) The principal business address of Mr. Davidson is 530 Fifth Ave, New York, NY 10036. (c) Mr. Davidson’s principle occupation is Chairman of General American Investors Company, Inc. (d) Mr. Davidson has not been, during the past five years, convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) Mr. Davidson has not been, during the past five years, party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which proceeding is or was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Share repurchases by the Company, termination/expiration of certain trusts, and reinvestment of dividends/distributions have resulted in the changes reported herein. ITEM 4. PURPOSE OF TRANSACTION Mr. Davidson acquired the Shares reported herein for investment purposes in the ordinary course of investing in securities for his own account. The purpose of this filing is to conform information reported to the December 31, 2023 Form 5 filing. Other than as may have arisen in his capacity as a director of the Issuer, Mr. Davidson currently has no plans or proposals that relate to, or would result in, any of the matters listed in Item 4(a)-(j) of Schedule 13D. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a)-(b) The information set forth in rows 7 through 13 of the cover page to this Schedule 13D is incorporated by reference. The percentage set forth in row 13 is based on 23,732,324 outstanding Shares as of December 31, 2023. (c) Not applicable Date of Transaction Amount of Securities Weighted Average Price per Share Type (d) Not applicable. (e) Not applicable ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDING

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