UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2003
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 February 11, 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: 58
Form 13F Information Table Value Total: $938,921,617
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 1,167,657 94,090 N X 94,090
American International Gro COMMON 026874107 21,541,000 325,000 N X 325,000
Alkermes, Inc. COMMON 01642T108 4,590,000 340,000 N X 340,000
Applied Materials, Inc. COMMON 038222105 4,488,000 200,000 N X 200,000
Annuity and Life Re (Holdi COMMON G03910109 1,380,000 1,000,000 N X 1,000,000
ASM International N.V. COMMON N07045102 5,060,000 250,000 N X 250,000
Bank of America Corporatio COMMON 060505104 8,043,000 100,000 N X 100,000
Baxter International Inc. COMMON 071813109 27,468,000 900,000 N X 900,000
Bancroft Convertible Fund COMMON 059695106 390,400 20,877 N X 20,877
Biogen Idec Inc. COMMON 09062X103 10,092,500 275,000 N X 275,000
Bristol-Myers Squibb Compa COMMON 110122108 8,580,000 300,000 N X 300,000
Berkshire Hathaway Inc. COMMON 084670108 25,275,000 300 N X 300
Brooks Automation, Inc. COMMON 114340102 11,668,210 491,500 N X 491,500
Coca-Cola Enterprises Inc. COMMON 191219104 6,014,250 275,000 N X 275,000
Central Securities Corpora COMMON 155123102 2,361,406 113,040 N X 113,040
CIENA Corporation COMMON 171779101 3,608,000 550,000 N X 550,000
Costco Wholesale Corporati COMMON 22160K105 26,026,000 700,000 N X 700,000
Cox Communications, Inc. - COMMON 224044107 21,359,000 620,000 N X 620,000
Cisco Systems, Inc. COMMON 17275R102 21,807,000 900,000 N X 900,000
CEMEX, S.A. de C.V. COMMON 151290889 12,143,700 463,500 N X 463,500
Genentech, Inc. COMMON 368710406 29,474,550 315,000 N X 315,000
Devon Energy Corporation COMMON 25179M103 37,219,000 650,000 N X 650,000
EMC Corporation COMMON 268648102 3,876,000 300,000 N X 300,000
EMCORE Corporation COMMON 290846104 927,870 197,000 N X 197,000
Ethan Allen Interiors Inc. COMMON 297602104 11,517,000 275,000 N X 275,000
FleetBoston Financial COMMON 339030108 6,547,500 150,000 N X 150,000
Golden West Financial COMMON 381317106 34,568,650 335,000 N X 335,000
Genaera Corporation COMMON 36867G100 882,900 270,000 N X 270,000
Genta Incorporated COMMON 37245M207 3,911,250 375,000 N X 375,000
Halliburton Company COMMON 406216101 16,900,000 650,000 N X 650,000
The Home Depot, Inc. COMMON 437076102 68,140,800 1,920,000 N X 1,920,000
Health Net, Inc. COMMON 42222G108 22,726,500 695,000 N X 695,000
John Hancock Financial Ser COMMON 41014S106 12,375,000 330,000 N X 330,000
Juniper Networks, Inc. COMMON 48203R104 8,406,000 450,000 N X 450,000
Medtronic, Inc. COMMON 585055106 21,874,500 450,000 N X 450,000
MedImmune, Inc. COMMON 584699102 11,547,900 455,000 N X 455,000
MedImmune Vaccines, Inc. 5 CONV C 053762AD2 10,250,000 10,000,000 N X 10,000,000
MetLife, Inc. COMMON 59156R108 14,646,450 435,000 N X 435,000
MFA Mortgage Investments, COMMON 55272X102 5,606,250 575,000 N X 575,000
Millennium Pharmaceuticals COMMON 599902103 2,238,000 120,000 N X 120,000
Molex Incorporated Class A COMMON 608554200 20,297,175 692,500 N X 692,500
M&T Bank Corporation COMMON 55261F104 30,473,000 310,000 N X 310,000
Annaly Mortgage Management COMMON 035710409 15,180,000 825,000 N X 825,000
Newell Rubbermaid Inc. COMMON 651229106 2,846,250 125,000 N X 125,000
OSI Pharmaceuticals, Inc. COMMON 671040103 967,500 30,000 N X 30,000
PepsiCo, Inc. COMMON 713448108 6,993,000 150,000 N X 150,000
Pfizer Inc COMMON 717081103 46,812,250 1,325,000 N X 1,325,000
PartnerRe Ltd. COMMON G6852T105 29,025,000 500,000 N X 500,000
Everest Re Group, Ltd. COMMON G3223R108 54,990,000 650,000 N X 650,000
Reinsurance Group of Ameri COMMON 759351109 16,426,250 425,000 N X 425,000
Republic Services, Inc. COMMON 760759100 30,115,250 1,175,000 N X 1,175,000
Royce Value Trust COMMON 780910105 1,638,988 94,794 N X 94,794
SunTrust Banks, Inc. COMMON 867914103 14,657,500 205,000 N X 205,000
The TJX Companies, Inc. COMMON 872540109 55,125,000 2,500,000 N X 2,500,000
Total S.A. ADR COMMON 89151E109 6,577,461 71,100 N X 71,100
Transatlantic Holdings, In COMMON 893521104 18,584,000 230,000 N X 230,000
VeriSign, Inc. COMMON 92343E102 5,705,000 350,000 N X 350,000
Wal-Mart Stores, Inc. COMMON 931142103 35,808,750 675,000 N X 675,000