Saba Capital Management Files 13D on General American Investors
Ticker: GAM-PB · Form: SC 13D · Filed: Oct 28, 2024 · CIK: 40417
| Field | Detail |
|---|---|
| Company | General American Investors Co Inc (GAM-PB) |
| Form Type | SC 13D |
| Filed Date | Oct 28, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 10 min |
| Key Dollar Amounts | $1.00, $63,743,376 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-change, activist-filing, schedule-13d
Related Tickers: GAI
TL;DR
**SABA CAPITAL NOW HOLDING SIGNIFICANT STAKE IN GAI - 13D FILED**
AI Summary
Saba Capital Management, L.P. has filed a Schedule 13D on October 28, 2024, indicating a change in beneficial ownership of General American Investors Co Inc. The filing details ownership information for Saba Capital Management, L.P. and its group members, including Boaz R. Weinstein. The filing date of the event requiring this disclosure was October 25, 2024.
Why It Matters
This filing signals a significant stakeholder's increased attention or potential strategy shift regarding General American Investors Co Inc., which could influence the company's stock performance and corporate governance.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede activist campaigns or significant strategic moves by investors, which can introduce volatility.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- General American Investors Co Inc (company) — Subject company
- Boaz R. Weinstein (person) — Group member of filing entity
- Michael D'Angelo (person) — Authorized contact for Saba Capital Management, L.P.
FAQ
What is the specific percentage of shares beneficially owned by Saba Capital Management, L.P. as of October 28, 2024?
The provided text does not specify the exact percentage of shares beneficially owned, only that a Schedule 13D filing was made indicating a change in ownership.
What was the date of the event that triggered this Schedule 13D filing?
The date of the event which requires filing of this Schedule 13D was October 25, 2024.
Who is the authorized person to receive notices for Saba Capital Management, L.P. regarding this filing?
Michael D'Angelo at 405 Lexington Avenue, 58th Floor, New York, NY 10174, with a telephone number of (212) 542-4635, is authorized to receive notices.
What is the CUSIP number for General American Investors Company, Inc. common shares?
The CUSIP number for General American Investors Company, Inc. common shares is 368802104.
What is the business address and phone number for Saba Capital Management, L.P.?
Saba Capital Management, L.P.'s business address is 405 Lexington Avenue, 58th Floor, New York, NY 10174, and their business phone number is 212-542-4635.
Filing Stats: 2,464 words · 10 min read · ~8 pages · Grade level 12.2 · Accepted 2024-10-28 15:27:29
Key Financial Figures
- $1.00 — INC. (Name of Issuer) Common Shares, $1.00 par value (Title of Class of Securiti
- $63,743,376 — ported herein. A total of approximately $63,743,376 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 106KB
- exhibit1.htm (EX-1) — 4KB
- 0001062993-24-018004.txt ( ) — 112KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: October 28, 2024 SABA CAPITAL MANAGEMENT, L.P. By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer SABA CAPITAL MANAGEMENT GP, LLC By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory BOAZ R. WEINSTEIN By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Attorney-in-fact* * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823 CUSIP No. 368802104 SCHEDULE 13D Page 10 of 10 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital during the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 8/29/2024 Buy 1,343 52.59 8/30/2024 Buy 2,484 52.48 9/3/2024 Buy 7,619 52.03 9/13/2024 Buy 1,243 52.78 9/16/2024 Buy 1,829 52.79 9/17/2024 Buy 5,648 53.05 9/18/2024 Buy 7,565 53.06 9/19/2024 Buy 8,579 53.92 9/20/2024 Buy 55,816 53.55 9/23/2024 Buy 42,693 53.55 9/24/2024 Buy 24,417 53.56 9/25/2024 Buy 46,691 53.48 9/30/2024 Buy 12,291 53.64 10/1/2024 Buy 5,404 53.56 10/4/2024 Buy 24,288 53.29 10/7/2024 Buy 19,847 53.21 10/10/2024 Buy 1,665 53.34 10/11/2024 Buy 5,654 53.76 10/14/2024 Buy 12,518 53.77 10/15/2024 Buy 15,825 53.84 10/16/2024 Buy 8,577 53.47 10/17/2024 Buy 9,638 53.77 10/18/2024 Buy 3,959 53.91 10/22/2024 Buy 20,033 53.76 10/23/2024 Buy 17,753 53.59 10/24/2024 Buy 9,687 53.45 10/25/2024 Buy 13,747 53.44