UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2004
Institutional Investment Manager Filing this Report:
Name: General American Investors Company, Inc.
Address: 450 Lexington Avenue, Suite 3300
New York, NY 10017
13F File Number: 28-461
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report:
Name: Eugene L. DeStaebler, Jr.
Title: Vice-President, Administration
Phone: 212-916-8400
Signature, Place and Date of Signing:
Eugene L. DeStaebler, Jr. New York, NY May 7, 2004
Report Type (Check only one.):
[x] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
NONE
I am signing this report as required by the Securities Exchange Act of 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 60
Form 13F Information Table Value Total: $1,034,033,328
NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVEST. DISC. OTHER VOTING AUTHORITY
OF NUMBER MARKET PRINCIPAL SH/ SHARED MGRS.
CLASS VALUE AMOUNT PRN SOLE SHARED OTHER SOLE SHARED NONE
(A) (B) (C) (A) (B) (C)
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Adams Express Company COMMON 006212104 1,193,061 94,090 N X 94,090
Agere Systems Inc. Class A COMMON 00845V100 3,210,000 1,000,000 N X 1,000,000
American International Gro COMMON 026874107 20,691,500 290,000 N X 290,000
Alkermes, Inc. COMMON 01642T108 5,436,600 340,000 N X 340,000
Applied Materials, Inc. COMMON 038222105 2,836,890 133,000 N X 133,000
Annuity and Life Re (Holdi COMMON G03910109 1,070,000 1,000,000 N X 1,000,000
Bank of America Corporatio COMMON 060505104 8,098,000 100,000 N X 100,000
Baxter International Inc. COMMON 071813109 27,801,000 900,000 N X 900,000
Bancroft Convertible Fund COMMON 059695106 404,805 20,877 N X 20,877
Biogen Idec Inc. COMMON 09062X103 13,900,000 250,000 N X 250,000
Bristol-Myers Squibb Compa COMMON 110122108 7,269,000 300,000 N X 300,000
Berkshire Hathaway Inc. COMMON 084670108 27,990,000 300 N X 300
Brooks Automation, Inc. COMMON 114340102 10,341,160 491,500 N X 491,500
Central Securities Corpora COMMON 155123102 2,424,708 113,040 N X 113,040
CIENA Corporation COMMON 171779101 2,733,500 550,000 N X 550,000
Costco Wholesale Corporati COMMON 22160K105 26,327,000 700,000 N X 700,000
Cox Communications, Inc. - COMMON 224044107 19,592,000 620,000 N X 620,000
Cisco Systems, Inc. COMMON 17275R102 21,213,000 900,000 N X 900,000
CEMEX, S.A. de C.V. COMMON 151290889 15,312,570 513,500 N X 513,500
Diageo plc COMMON 25243Q205 15,864,000 300,000 N X 300,000
Genentech, Inc. COMMON 368710406 30,687,800 290,000 N X 290,000
Devon Energy Corporation COMMON 25179M103 37,797,500 650,000 N X 650,000
EMC Corporation COMMON 268648102 4,083,000 300,000 N X 300,000
EMCORE Corporation COMMON 290846104 801,790 197,000 N X 197,000
El Paso Corporation 0% CONV C 28336LAC3 10,490,625 22,500,000 N X 22,500,000
Ethan Allen Interiors Inc. COMMON 297602104 11,346,500 275,000 N X 275,000
FleetBoston Financial COMMON 339030108 6,735,000 150,000 N X 150,000
Golden West Financial COMMON 381317106 36,383,750 325,000 N X 325,000
Genaera Corporation COMMON 36867G100 1,206,900 270,000 N X 270,000
Gilead Sciences, Inc. COMMON 375558103 2,772,500 50,000 N X 50,000
Genta Incorporated COMMON 37245M207 3,937,500 375,000 N X 375,000
Halliburton Company COMMON 406216101 18,993,750 625,000 N X 625,000
The Home Depot, Inc. COMMON 437076102 71,731,200 1,920,000 N X 1,920,000
Health Net, Inc. COMMON 42222G108 19,944,000 800,000 N X 800,000
John Hancock Financial Ser COMMON 41014S106 11,577,850 265,000 N X 265,000
Juniper Networks, Inc. COMMON 48203R104 11,709,000 450,000 N X 450,000
Medtronic, Inc. COMMON 585055106 21,487,500 450,000 N X 450,000
MedImmune, Inc. COMMON 584699102 10,501,400 455,000 N X 455,000
MetLife, Inc. COMMON 59156R108 15,520,800 435,000 N X 435,000
MFA Mortgage Investments, COMMON 55272X102 7,070,000 700,000 N X 700,000
Millennium Pharmaceuticals COMMON 599902103 2,028,000 120,000 N X 120,000
Molex Incorporated Class A COMMON 608554200 18,039,625 692,500 N X 692,500
Montpelier Re Holdings Ltd COMMON G62185106 3,724,000 100,000 N X 100,000
Microsoft Corporation COMMON 594918104 38,018,250 1,525,000 N X 1,525,000
M&T Bank Corporation COMMON 55261F104 28,752,000 320,000 N X 320,000
Annaly Mortgage Management COMMON 035710409 15,151,250 775,000 N X 775,000
NetIQ Corporation COMMON 64115P102 6,043,680 432,000 N X 432,000
PepsiCo, Inc. COMMON 713448108 8,077,500 150,000 N X 150,000
Pfizer Inc COMMON 717081103 46,441,250 1,325,000 N X 1,325,000
PartnerRe Ltd. COMMON G6852T105 28,225,000 500,000 N X 500,000
Everest Re Group, Ltd. COMMON G3223R108 55,536,000 650,000 N X 650,000
Reinsurance Group of Ameri COMMON 759351109 17,412,250 425,000 N X 425,000
Republic Services, Inc. COMMON 760759100 31,807,250 1,175,000 N X 1,175,000
Royce Value Trust COMMON 780910105 1,720,014 96,630 N X 96,630
SunTrust Banks, Inc. COMMON 867914103 14,290,550 205,000 N X 205,000
The TJX Companies, Inc. COMMON 872540109 61,400,000 2,500,000 N X 2,500,000
Total S.A. ADR COMMON 89151E109 22,724,000 247,000 N X 247,000
Transatlantic Holdings, In COMMON 893521104 20,058,300 230,000 N X 230,000
VeriSign, Inc. COMMON 92343E102 5,806,500 350,000 N X 350,000
Wal-Mart Stores, Inc. COMMON 931142103 40,290,750 675,000 N X 675,000