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, 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 May 9, 2003
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: 56
Form 13F Information Table Value Total: $633,075,051
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)
----------------------------------------------------------------------------------------------------------------------------------
Adams Express Company COMMON 006212104 906,820 89,430 N X 89,430
American International Gro COMMON 026874107 20,521,750 415,000 N X 415,000
Alkermes, Inc. COMMON 01642T108 3,083,800 340,000 N X 340,000
Applied Materials, Inc. COMMON 038222105 2,516,000 200,000 N X 200,000
Annuity and Life Re (Holdi COMMON G03910109 600,000 1,000,000 N X 1,000,000
ASM International N.V. COMMON N07045102 2,495,000 250,000 N X 250,000
The Boeing Company COMMON 097023105 12,530,000 500,000 N X 500,000
Bancroft Convertible Fund COMMON 059695106 322,595 17,725 N X 17,725
Bristol-Myers Squibb Compa COMMON 110122108 6,339,000 300,000 N X 300,000
Berkshire Hathaway Inc. COMMON 084670108 19,140,000 300 N X 300
Brooks Automation, Inc. COMMON 114340102 1,629,395 168,500 N X 168,500
Central Securities Corpora COMMON 155123102 1,636,269 105,976 N X 105,976
CIENA Corporation COMMON 171779101 2,403,500 550,000 N X 550,000
Costco Wholesale Corporati COMMON 22160K105 21,021,000 700,000 N X 700,000
Cox Communications, Inc. - COMMON 224044107 19,288,200 620,000 N X 620,000
Cisco Systems, Inc. COMMON 17275R102 11,682,000 900,000 N X 900,000
Genentech, Inc. COMMON 368710406 22,756,500 650,000 N X 650,000
EMC Corporation COMMON 268648102 2,169,000 300,000 N X 300,000
EMCORE Corporation COMMON 290846104 325,050 197,000 N X 197,000
El Paso Corporation COMMON 28336L109 2,873,750 475,000 N X 475,000
Ethan Allen Interiors Inc. COMMON 297602104 8,093,250 275,000 N X 275,000
Golden West Financial COMMON 381317106 30,570,250 425,000 N X 425,000
Genaera Corporation COMMON 36867G100 164,700 270,000 N X 270,000
Genta Incorporated COMMON 37245M207 2,854,800 400,000 N X 400,000
Halliburton Company COMMON 406216101 14,511,000 700,000 N X 700,000
The Home Depot, Inc. COMMON 437076102 47,380,200 1,945,000 N X 1,945,000
Health Net, Inc. COMMON 42222G108 16,062,000 600,000 N X 600,000
IDEC Pharmaceuticals Corpo COMMON 449370105 8,555,000 250,000 N X 250,000
John Hancock Financial Ser COMMON 41014S106 12,084,300 435,000 N X 435,000
Juniper Networks, Inc. COMMON 48203R104 3,676,500 450,000 N X 450,000
Lucent Technologies Inc. COMMON 549463107 1,047,375 712,500 N X 712,500
Medtronic, Inc. COMMON 585055106 13,084,800 290,000 N X 290,000
MedImmune, Inc. COMMON 584699102 7,846,370 239,000 N X 239,000
MedImmune Vaccines, Inc. 5 CONV C 053762AD2 10,350,000 10,000,000 N X 10,000,000
MetLife, Inc. COMMON 59156R108 11,607,200 440,000 N X 440,000
Millennium Pharmaceuticals COMMON 599902103 943,200 120,000 N X 120,000
Molex Incorporated Class A COMMON 608554200 12,742,000 692,500 N X 692,500
M&T Bank Corporation COMMON 55261F104 25,145,600 320,000 N X 320,000
Max Re Capital Ltd. COMMON G6052F103 2,520,000 200,000 N X 200,000
Annaly Mortgage Management COMMON 035710409 8,735,000 500,000 N X 500,000
Newell Rubbermaid Inc. COMMON 651229106 3,543,750 125,000 N X 125,000
OSI Pharmaceuticals, Inc. COMMON 671040103 2,000,000 125,000 N X 125,000
PepsiCo, Inc. COMMON 713448108 6,000,000 150,000 N X 150,000
Pfizer Inc COMMON 717081103 31,939,000 1,025,000 N X 1,025,000
PartnerRe Ltd. COMMON G6852T105 26,381,250 525,000 N X 525,000
Everest Re Group, Ltd. COMMON G3223R108 40,047,000 700,000 N X 700,000
Reinsurance Group of Ameri COMMON 759351109 12,483,000 475,000 N X 475,000
Royce Value Trust COMMON 780910105 1,087,947 89,176 N X 89,176
SunTrust Banks, Inc. COMMON 867914103 12,109,500 230,000 N X 230,000
The TJX Companies, Inc. COMMON 872540109 42,680,000 2,425,000 N X 2,425,000
Transatlantic Holdings, In COMMON 893521104 15,076,500 230,000 N X 230,000
VeriSign, Inc. COMMON 92343E102 3,059,000 350,000 N X 350,000
Wind River Systems, Inc. COMMON 973149107 1,011,710 339,500 N X 339,500
Waste Management, Inc. COMMON 94106L109 12,898,620 609,000 N X 609,000
Wal-Mart Stores, Inc. COMMON 931142103 29,657,100 570,000 N X 570,000
Zarlink Semiconductor Inc. COMMON 989139100 887,500 250,000 N X 250,000