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GFA
Gifford Fong Associates Portfolio holdings
AUM
$501M
1-Year Est. Return
32.77%
This Fund
S&P 500
This Quarter
Est. Return
+6.15%
1 Year Est. Return
+32.77%
3 Year Est. Return
+180.45%
5 Year Est. Return
+217.25%
10 Year Est. Return
–
AUM
$501M
AUM Growth
+$25.6M
(+5.4%)
Cap. Flow
+$4.68M
Cap. Flow
% of AUM
0.93%
Top 10 Holdings %
Top 10 Hldgs %
38.52%
Holding
124
New
2
Increased
2
Reduced
2
Closed
–
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$2.49M |
| 2 |
Advanced Micro Devices
AMD
|
+$2.25M |
| 3 |
Q
Qnity Electronics Inc
Q
|
+$198K |
| 4 |
SOLS
Solstice Advanced Materials
SOLS
|
+$166K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DuPont de Nemours
DD
|
+$243K |
| 2 |
Honeywell
HON
|
+$168K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.89% |
| 2 | Financials | 23.21% |
| 3 | Communication Services | 11.2% |
| 4 | Industrials | 8.8% |
| 5 | Consumer Discretionary | 8.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
NVIDIA
NVDA
$4.86T
| $45.9M | 9.16% |
246,210
| – | – |
|
2
Amazon
AMZN
$2.92T
| $22.3M | 4.46% |
96,793
| – | – |
|
3
Apple
AAPL
$4.54T
| $22.1M | 4.4% |
81,169
| – | – |
|
|
4
Salesforce
CRM
$151B
| $19.3M | 3.86% |
73,009
+10,000
| +16% | +$2.49M |
|
5
Microsoft
MSFT
$3.45T
| $16.6M | 3.31% |
34,302
| – | – |
|
6
Meta Platforms (Facebook)
META
$1.42T
| $14.9M | 2.96% |
22,500
| – | – |
|
7
Alphabet (Google) Class C
GOOG
$4.36T
| $14.5M | 2.88% |
46,055
| – | – |
|
8
Berkshire Hathaway Class B
BRK.B
$1.1T
| $13.3M | 2.66% |
26,500
| – | – |
|
|
9
Advanced Micro Devices
AMD
$776B
| $12.5M | 2.49% |
58,318
+10,000
| +21% | +$2.25M |
|
10
GE Aerospace
GE
$374B
| $11.8M | 2.35% |
38,301
| – | – |
|
11
JPMorgan Chase
JPM
$935B
| $11.4M | 2.27% |
35,296
| – | – |
|
12
Shopify
SHOP
$152B
| $11.3M | 2.25% |
70,000
| – | – |
|
13
Synchrony
SYF
$24.7B
| $11M | 2.2% |
132,073
| – | – |
|
|
14
Alphabet (Google) Class A
GOOGL
$4.36T
| $9.75M | 1.94% |
31,140
| – | – |
|
15
Wells Fargo
WFC
$261B
| $8.21M | 1.64% |
88,052
| – | – |
|
16
ExxonMobil
XOM
$644B
| $7.47M | 1.49% |
62,066
| – | – |
|
17
Walmart Inc
WMT
$885B
| $7.3M | 1.46% |
65,550
| – | – |
|
18
Oracle
ORCL
$374B
| $7.26M | 1.45% |
37,250
| – | – |
|
19
Citigroup
C
$222B
| $7.17M | 1.43% |
61,471
| – | – |
|
20
Occidental Petroleum
OXY
$56.8B
| $7.05M | 1.41% |
171,429
| – | – |
|
21
Goldman Sachs
GS
$300B
| $7.03M | 1.4% |
8,000
| – | – |
|
22
Mastercard
MA
$502B
| $6.75M | 1.35% |
11,829
| – | – |
|
23
Invesco
IVZ
$13.1B
| $6.71M | 1.34% |
255,393
| – | – |
|
24
AbbVie
ABBV
$443B
| $6.38M | 1.27% |
27,900
| – | – |
|
25
GE Vernova
GEV
$264B
| $6.26M | 1.25% |
9,575
| – | – |
|
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Gifford Fong Associates's Q4 2025 Portfolio in Review
As of Q4 2025, Gifford Fong Associates held 124 positions worth $501M, up 5.4% from $476M the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Trading was light in Q4 2025: portfolio turnover was 1.6%. Gifford Fong Associates opened 2 new positions and made no exits, leaving the 124-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.
- Gifford Fong Associates's largest Q4 2025 buy was Qnity Electronics Inc: 2,332 shares worth $190K.
- Gifford Fong Associates added most to Salesforce in Q4 2025, an estimated $2.49M increase.
- Gifford Fong Associates's biggest Q4 2025 reduction was DuPont de Nemours, cutting an estimated $243K.
- Gifford Fong Associates's ten largest holdings make up 39% of its $501M portfolio in Q4 2025.
- Gifford Fong Associates opened 2 new positions and closed 0 in Q4 2025.
- Gifford Fong Associates's portfolio value rose 5.4% quarter-over-quarter to $501M.
Based on Gifford Fong Associates's 13F filing for Q4 2025, filed 10 Feb 2026.