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| Company Information | |
|---|---|
| Stock Exchange | NYSE |
| Common Stock Symbol | GAM |
| Preferred Stock Symbol | GAM Pr b |
| Common Stock Cusip | 368802104 |
| Preferred Stock Cusip | 368802401 |
| Quarter Ended Data 03/31/2022 | |
|---|---|
| NAV (XGAMX) | $50.66 |
| Common Closing Price | $42.47 |
| Preferred Liquidation Preference | $25.00 |
| Preferred Closing Price | $27.32 |
| Net Assets - Common | $1,233.4 mil. |
| Liquidation Value - Preferred | $190.1 mil. |
| Total | $1,423.5 mil. |
| Asset Coverage | 749% |
| Annual Data | |
|---|---|
| Expense Ratio | 1.24% |
| 2021 Dividend & Distribution | $3.30 |
Since March 1995, the Board of Directors has authorized the repurchase of Common Stock in the open market when the shares trade at a discount to net asset value of at least 8%. Through March 31, 2022, the Company has repurchased a total of 31.1 million shares of Common Stock at a total cost of $945.0 million. During the three months ended March 31, 2022, 49,766 shares of Common Stock were repurchased at a cost of $2,054,905 a discount of 17.0% to net asset value.
| Industry Sector | % Common Net Assets* | ||
|---|---|---|---|
| Information Technology | 24.3% | ||
| Financials | 19.0% | ||
| Consumer Discretionary | 12.6% | ||
| Communication Services | 11.8% | ||
| Consumer Staples | 10.5% | ||
| Industrials | 9.5% | ||
| Health Care | 8.2% | ||
| Energy | 4.1% | ||
| Materials | 4.0% | ||
| Other | 1.5% | ||
| Total Long-Term Investments | 105.5% | ||
| Cash, equivalents, receivables and other assets less liabilities | 9.9% | ||
| Preferred Stock, at liquidation value | -15.4% | ||
| Total Net Assets Applicable to Common Stock | 100.0% | ||
| * Net Assets Applicable to the Company's Common Stock |
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| Holding | Shares | Value | % Common Net Assets* |
|---|---|---|---|
Microsoft CorporationMicrosoft is a 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. |
235,000 | $72,452,850 | 5.9% |
Alphabet Inc. - Class CAlphabet is a global technology firm with a dominant market share in internet search, online advertising, desktop and mobile operating systems, as well as a growing share of cloud computing platforms. Alphabet has a wide competitive moat, a strong business franchise, and potential growth catalysts. |
25,500 | $71,221,245 | 5.8% |
Republic Services, Inc.Republic Services is a 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. |
524,895 | $69,548,588 | 5.6% |
Berkshire Hathaway Inc. - Class A & B Shares (combined)Berkshire Hathaway is a holding company owning many subsidiaries mainly in the insurance, railroad, utility/energy, aerospace, manufacturing, retail, and finance industries. The company also holds various common stock investments. Berkshire is positioned to provide long term, relatively defensive returns due to its conservative balance sheet. |
21,659 | $65,786,168 | 5.3% |
Apple Inc.Apple designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The company’s growth prospects look favorable as the shift to mobile computing expands globally and as more products and services are added to the Apple ecosystem. |
348,000 | $60,764,280 | 4.9% |
ASML Holding N.V.ASML is a global provider of lithography systems for the semiconductor industry, manufacturing highly complex equipment critical to the production of integrated circuits or microchips. ASML has established a dominant market share in next-generation lithography. ASML has strong growth prospects, margin leverage, and shareholder-friendly capital allocation. |
79,600 | $53,167,228 | 4.3% |
Amazon.com, Inc.Amazon.com is the world’s largest online retailer and cloud services provider. Amazon provides individual websites, software development centers, customer service centers and fulfillment centers all over the world. |
14,300 | $46,617,285 | 3.8% |
Arch Capital Group Ltd.Arch Capital generates premiums of approximately $12 billion and has a high quality balance sheet. The company’s management team exercises underwriting discipline, expense control, and capital management. |
937,459 | $45,391,765 | 3.7% |
Nestlé S.A.Nestlé is a global food company with a favorably-positioned product portfolio and a strong balance sheet. Market share, volume growth, pricing power, expense control, and capital management offer durable total return potential. |
325,000 | $42,275,851 | 3.4% |
Everest Re Group, Ltd.Everest Re is one of the largest independent U.S. property and casualty reinsurers, generates annual premiums of approximately $9 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. |
121,500 | $36,617,670 | 3.0% |
| $563,842,930 | 45.7% | ||
| * Net Assets Applicable to the Company's Common Stock |
|||
| Years or Period | GAM Stockholder Return (Market Price)* | GAM Net Asset Value Return* | Standard & Poor's 500 Stock Index Return* | |
|---|---|---|---|---|
| 3 Months** | -2.7% | -2.5% | -4.6% | |
| 1 Year | 15.6% | 18.0% | 15.7% | |
| 3 Years | 16.6% | 16.6% | 18.9% | |
| 5 Years | 13.4% | 13.4% | 16.0% | |
| 10 Years | 12.1% | 12.1% | 14.7% | |
| 20 Years | 7.5% | 8.0% | 9.2% | |
| * With dividends and distributions reinvested/with income. ** Not annualized |
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