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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
+17.31%
1 Year Est. Return
+32.77%
3 Year Est. Return
+180.45%
5 Year Est. Return
+217.25%
10 Year Est. Return
–
AUM
$363M
AUM Growth
-$107M
(-23%)
Cap. Flow
-$173M
Cap. Flow
% of AUM
-47.6%
Top 10 Holdings %
Top 10 Hldgs %
35.97%
Holding
140
New
–
Increased
–
Reduced
25
Closed
13
Top Buys
No buys this quarter
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$65.8M |
| 2 |
Apple
AAPL
|
+$13.2M |
| 3 |
Bank of America
BAC
|
+$11.8M |
| 4 |
Eli Lilly
LLY
|
+$9.38M |
| 5 |
Amazon
AMZN
|
+$7.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.27% |
| 2 | Financials | 21.85% |
| 3 | Communication Services | 10.79% |
| 4 | Healthcare | 9.77% |
| 5 | Consumer Discretionary | 9.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Citigroup
C
$231B
| $3.89M | 1.07% |
61,471
| – | – |
|
27
Verizon
VZ
$195B
| $3.87M | 1.07% |
92,263
-6,000
| -6% | -$242K |
|
28
Amgen
AMGN
$225B
| $3.87M | 1.07% |
13,609
| – | – |
|
29
Comcast
CMCSA
$90.4B
| $3.81M | 1.05% |
88,000
| – | – |
|
30
Costco
COST
$421B
| $3.67M | 1.01% |
5,016
-3,508
| -41% | -$2.5M |
|
|
PXD
31
DELISTED
Pioneer Natural Resource Co.
PXD
| $3.67M | 1.01% |
14,000
| – | – |
|
32
Chevron
CVX
$386B
| $3.5M | 0.97% |
22,200
| – | – |
|
33
ExxonMobil
XOM
$657B
| $3.43M | 0.95% |
29,539
| – | – |
|
34
Goldman Sachs
GS
$302B
| $3.34M | 0.92% |
8,000
| – | – |
|
35
Pfizer
PFE
$150B
| $3.1M | 0.85% |
111,527
| – | – |
|
36
Merck
MRK
$328B
| $3.02M | 0.83% |
22,900
| – | – |
|
37
Intel
INTC
$509B
| $2.93M | 0.81% |
66,395
-61,233
| -48% | -$2.73M |
|
38
UnitedHealth
UNH
$364B
| $2.93M | 0.81% |
5,918
-7,288
| -55% | -$3.71M |
|
39
Honeywell
HON
$74.6B
| $2.89M | 0.8% |
14,960
| – | – |
|
40
Caterpillar
CAT
$393B
| $2.86M | 0.79% |
7,800
| – | – |
|
41
Morgan Stanley
MS
$342B
| $2.83M | 0.78% |
30,000
| – | – |
|
|
MRO
42
DELISTED
Marathon Oil Corporation
MRO
| $2.81M | 0.77% |
99,143
-85,585
| -46% | -$2.06M |
|
43
First Horizon
FHN
$12.3B
| $2.77M | 0.76% |
180,082
| – | – |
|
44
TJX Companies
TJX
$169B
| $2.64M | 0.73% |
26,000
| – | – |
|
45
AT&T
T
$166B
| $2.53M | 0.7% |
143,689
| – | – |
|
46
American Express
AXP
$232B
| $2.5M | 0.69% |
11,000
| – | – |
|
47
Automatic Data Processing
ADP
$107B
| $2.5M | 0.69% |
10,000
| – | – |
|
48
Gilead Sciences
GILD
$168B
| $2.49M | 0.69% |
34,000
| – | – |
|
49
Deere & Co
DE
$167B
| $2.42M | 0.67% |
5,900
| – | – |
|
50
Allstate
ALL
$64.7B
| $2.39M | 0.66% |
13,800
| – | – |
|
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Gifford Fong Associates's Q1 2024 Portfolio in Review
As of Q1 2024, Gifford Fong Associates held 140 positions worth $363M, down 23% from $470M the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Gifford Fong Associates withdrew a net $173M in Q1 2024, closing 13 positions and reducing 25 holdings. Its most notable exit was Eli Lilly, an estimated $9.38M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 34% a quarter earlier, followed by Financials and Communication Services.
- Gifford Fong Associates's biggest Q1 2024 reduction was NVIDIA, cutting an estimated $65.8M.
- Gifford Fong Associates fully exited Eli Lilly in Q1 2024, selling an estimated $9.38M.
- Gifford Fong Associates's ten largest holdings make up 36% of its $363M portfolio in Q1 2024.
- Gifford Fong Associates opened 0 new positions and closed 13 in Q1 2024.
- Gifford Fong Associates's portfolio value fell 23% quarter-over-quarter to $363M.
Based on Gifford Fong Associates's 13F filing for Q1 2024, filed 10 May 2024.