# EDGAR Filing Document

**Accession Number:** 0000040417
**File Stem:** 0000040417-26-000002
**Filing Date:** 2026-1
**Character Count:** 5880
**Document Hash:** 996eb2a158e2a04cbddd3760e8d2faa0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000040417-26-000002.hdr.sgml**: 20260106

**ACCESSION NUMBER**: 0000040417-26-000002

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260106

**DATE AS OF CHANGE**: 20260106

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GENERAL AMERICAN INVESTORS CO INC
- **CENTRAL INDEX KEY:** 0000040417

**ORGANIZATION NAME:**
- **EIN:** 135098450
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-39249
- **FILM NUMBER:** 26511619

**BUSINESS ADDRESS:**
- **STREET 1:** 530 FIFTH AVE
- **STREET 2:** 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 2129168400

**MAIL ADDRESS:**
- **STREET 1:** 530 FIFTH AVE
- **STREET 2:** 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DAVIDSON SPENCER
- **CENTRAL INDEX KEY:** 0001215920

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** GENERAL AMERICAN INVESTORS CO INC
- **STREET 2:** 530 FIFTH AVE - 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**GENERAL AMERICAN INVESTORS CO INC**

*(Name of Issuer)*

**Common Stock, par value $1.00 per share**

*(Title of Class of Securities)*

**368802104**

*(CUSIP Number)*

**Connie A. Santa Maria**<br>530 FIFTH AVE<br>26TH FLOOR<br>NEW YORK NY 10036<br>2129168445

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**12/31/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **368802104** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**DAVIDSON SPENCER** | Name of reporting person<br>**DAVIDSON SPENCER** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**—** | Citizenship or place of organization<br>**—** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1427514.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**11487.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1427514.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**11487.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1439001.00** | Aggregate amount beneficially owned by each reporting person<br>**1439001.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.0%** | Percent of class represented by amount in Row (11)<br>**6.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $1.00 per share

**(b) Name of Issuer:**
GENERAL AMERICAN INVESTORS CO INC

**(c) Address of Issuer's Principal Executive Offices:**
530 FIFTH AVE, 26TH FLOOR, NEW YORK, NY, 10036

This Schedule 13D is being filed to report the beneficial ownership of shares of common stock, $1.00 par value per share (the "Shares"), of General American Investors Company, Inc. (the "Issuer"). The address of the principal executive offices of the Issuer is 530 Fifth Ave, New York, NY 10036.

**Item 4. Purpose of Transaction**

Mr. Davidson acquired the Shares reported herein for investment purposes in the ordinary course of investing in securities for his own account. The purpose of this filing is to conform information reported herein to the January 5, 2026 Form 4/A.

Other than as may have arisen in his capacity as a director of the Issuer, Mr. Davidson currently has no plans or proposals that relate to, or would result in, any of the matters listed in Item 4(a)-G) of Schedule 13D.

**Item 5. Interest in Securities of the Issuer**

**(a)**
(a) The information set forth in rows 7 through 13 of the cover page to this Schedule 13D is incorporated by reference. The percentage set forth in row 13 is based on 24,019,271 outstanding Shares as of December 31, 2025.

**(b)**
(b) The information set forth in rows 7 through 13 of the cover page to this Schedule 13D is incorporated by reference. The percentage set forth in row 13 is based on 24,019,271 outstanding Shares as of December 31, 2025.

**(c)**
(c) Not applicable

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

None.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** DAVIDSON SPENCER

**Signature:** Davidson Spencer

**Name/Title:** Chairman

**Date:** 01/06/2026