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Company Information | |
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Stock Exchange | NYSE |
Common Stock Symbol | GAM |
Preferred Stock Symbol | GAM Pr b |
Common Stock Cusip | 368802104 |
Preferred Stock Cusip | 368802401 |
Quarter Ended Data 09/30/2022 | |
---|---|
NAV (XGAMX) | $40.43 |
Common Closing Price | $33.85 |
Preferred Liquidation Preference | $25.00 |
Preferred Closing Price | $25.30 |
Net Assets - Common | $967.1 mil. |
Liquidation Value - Preferred | $190.1 mil. |
Total | $1,157.2 mil. |
Asset Coverage | 609% |
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 September 30, 2022, the Company has repurchased a total of 31.5 million shares of Common Stock at a total cost of $960.9 million. During the nine months ended September 30, 2022, 473,540 shares of Common Stock were repurchased at a cost of $17,952,160 a discount of 16.9% to net asset value.
Industry Sector | % Common Net Assets* | ||
---|---|---|---|
Information Technology | 21.5% | ||
Financials | 19.8% | ||
Consumer Discretionary | 11.3% | ||
Communication Services | 11.3% | ||
Industrials | 10.9% | ||
Consumer Staples | 10.6% | ||
Health Care | 9.4% | ||
Energy | 5.6% | ||
Materials | 4.9% | ||
Other | 0.5% | ||
Total Long-Term Investments | 105.8% | ||
Cash, equivalents, receivables and other assets less liabilities | 13.9% | ||
Preferred Stock, at liquidation value | -19.7% | ||
Total Net Assets Applicable to Common Stock | 100.0% | ||
* Net Assets Applicable to the Company's Common Stock |
Holding | Shares | Value | % Common Net Assets* |
---|---|---|---|
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 | $71,406,716 | 7.4% |
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 | $54,731,500 | 5.7% |
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. |
510,000 | $49,036,500 | 5.1% |
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. |
338,000 | $46,711,600 | 4.8% |
Berkshire Hathaway Inc. - Class ABerkshire 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. |
110 | $44,711,700 | 4.6% |
Arch Capital Group Ltd.Arch Capital generates premiums of approximately $12 billion and has a high quality A+ rated balance sheet. The company’s management team exercises prudent underwriting discipline, expense control, and capital management yielding above average shareholder returns. |
937,459 | $42,691,883 | 4.4% |
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 | $35,270,092 | 3.6% |
T-Mobile US, Inc.T-Mobile is one of the largest wireless communications providers in the United States offering voice, data, and fixed broadband internet connectivity. T-Mobile’s customer value proposition, network quality, and operational discipline position the company to generate free cash flow and allocate it in an efficient manner. |
257,950 | $34,609,152 | 3.6% |
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. |
550,092 | $34,171,715 | 3.5% |
Everest Re Group, Ltd.Everest Re is one of the largest independent U.S. property and casualty reinsurers, generates annual premiums of approximately $13 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. |
129,196 | $33,906,198 | 3.5% |
$447,247,056 | 46.2% | ||
* 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* |
---|---|---|---|
9 Months** | -22.5% | -22.2% | -23.9% |
1 Year | -14.7% | -13.4% | -15.5% |
3 Years | 5.0% | 5.8% | 8.2% |
5 Years | 6.8% | 7.2% | 9.2% |
10 Years | 9.5% | 9.6% | 11.7% |
20 Years | 8.1% | 8.3% | 9.8% |
* With dividends and distributions reinvested/with income. ** Not annualized |