The link you clicked will take you off the General American Investors site.

The website you are entering is not owned or controlled by General American Investors. We are providing this link as a convenience to you. General American Investors is not responsible for the content, accuracy or opinions or the performance or failure of any products or services advertised on linked websites.

The linked website may have different security policies, cookie controls and privacy policies. You should review the privacy and security statements of any website before you provide personal or confidential information.

Top Ten Holdings

Ten Largest Holdings

As of 12/31/2016
Holding Shares Value % Common
Net Assets*
The TJX Companies, Inc.

Through its T.J. Maxx and Marshalls divisions, TJX is the leading off-price retailer. The continued growth of these divisions in the U.S. and Europe, along with expansion of related U.S. and foreign off-price formats, provide ongoing growth opportunities.

919,768 $69,102,170 6.8%
Republic Services, Inc.

Republic Services is a leading provider of non-hazardous, solid waste collection and disposal services in the U.S. The efficient operation of its routes and facilities combined with appropriate pricing enables Republic Services to generate significant free cash flow.

787,800 $44,943,990 4.4%
Arch Capital Group Ltd.

Arch Capital, a Bermuda-based insurer/reinsurer, generates premiums of approximately $5 billion and has a high quality, well-reserved A+ rated balance sheet. This company has a strong management team that exercises prudent underwriting discipline, efficient expense control, and steady capital management resulting in above-average earnings and book value growth.

495,000 $42,713,550 4.2%
Microsoft Corporation

Microsoft is a leading global provider of software, services and hardware devices. The company produces the Windows operating system, Office productivity suite, Azure public cloud service, and Xbox gaming console.

680,686 $42,297,828 4.1%
Gilead Sciences, Inc.

Gilead Sciences is a U.S. based biotechnology company that discovers, develops and commercializes therapeutics. Originally founded to focus predominantly on antiviral drugs to treat patients with HIV, Hepatitis B, CMV, influenza and, most recently, Hepatitis C, the company has expanded its reach into cardiopulmonary medicine, oncology and other related areas.

483,600 $34,630,596 3.4%
Nestlé S.A.

Nestlé is a well-managed, global food company with a favorably-positioned product portfolio and an excellent AA rated balance sheet. High market share, solid volume growth, strong pricing power, expense control and steady capital management yield durable, above-average, long-term total return potential.

450,000 $32,297,603 3.2%
Unilever N.V.

Unilever N.V. is a well-managed, primarily emerging market-based, global consumer goods manufacturer focusing on personal care, home care, food and refreshment products and operates with a solid A+ rated balance sheet. Advantaged geographies coupled with above average volume growth, pricing power and management execution generates above average long-term shareholder returns.

704,378 $28,984,436 2.8%
General Electric Company

General Electric is a global industrial and technology company. The company's diverse mix of infrastructure, transportation, energy and healthcare businesses, many with leading market positions, forms the foundation of management's focus upon shareholder value via earnings growth, optimization of profitability, and returning capital through dividends and share repurchases.

900,000 $28,440,000 2.8%
Halliburton Company

Halliburton offers a broad suite of services and products to customers worldwide for the exploration, development and production of oil and gas. The company has the scale, product depth and technology to provide value-added customer service and produce an attractive long-term return on invested capital and strong shareholder appreciation.

520,000 $28,126,800 2.7%
Everest Re Group, Ltd.

Everest Re is one of the largest independent U.S. property and casualty reinsurers, generates annual premiums of approximately $5 billion, has a high quality investment portfolio, and a well-reserved A+ balance sheet. This Bermuda domiciled company has a strong management team that exercises prudent underwriting discipline and efficient expense control, resulting in above-average earnings and book value growth.

125,000 $27,050,000 2.6%
$378,586,973 37.0%
* Net Assets Applicable to the Company's Common Stock