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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
+14.76%
1 Year Est. Return
+32.77%
3 Year Est. Return
+180.45%
5 Year Est. Return
+217.25%
10 Year Est. Return
–
AUM
$434M
AUM Growth
+$32.4M
(+8.1%)
Cap. Flow
-$12.4M
Cap. Flow
% of AUM
-2.86%
Top 10 Holdings %
Top 10 Hldgs %
38.84%
Holding
126
New
–
Increased
1
Reduced
6
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Occidental Petroleum
OXY
|
+$1.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$3.15M |
| 2 |
Gilead Sciences
GILD
|
+$2.66M |
| 3 |
Philip Morris
PM
|
+$2.65M |
| 4 |
X
US Steel
X
|
+$1.59M |
| 5 |
AT&T
T
|
+$1.38M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.2% |
| 2 | Financials | 23.44% |
| 3 | Communication Services | 11.2% |
| 4 | Industrials | 9.13% |
| 5 | Consumer Discretionary | 8.46% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
GE Vernova
GEV
$277B
| $5.07M | 1.17% |
9,575
| – | – |
|
27
Costco
COST
$421B
| $4.97M | 1.14% |
5,016
| – | – |
|
28
Walt Disney
DIS
$178B
| $4.51M | 1.04% |
36,407
| – | – |
|
29
Johnson & Johnson
JNJ
$629B
| $4.41M | 1.02% |
28,900
| – | – |
|
30
Morgan Stanley
MS
$342B
| $4.23M | 0.97% |
30,000
| – | – |
|
31
Invesco
IVZ
$13.9B
| $4.03M | 0.93% |
255,393
| – | – |
|
32
Spotify
SPOT
$101B
| $3.84M | 0.88% |
5,000
| – | – |
|
33
First Horizon
FHN
$12.3B
| $3.82M | 0.88% |
180,082
| – | – |
|
34
Amgen
AMGN
$225B
| $3.8M | 0.87% |
13,609
| – | – |
|
35
Ford
F
$55.1B
| $3.75M | 0.86% |
345,157
| – | – |
|
36
ConocoPhillips
COP
$153B
| $3.71M | 0.85% |
41,281
| – | – |
|
37
American Express
AXP
$232B
| $3.51M | 0.81% |
11,000
| – | – |
|
38
IBM
IBM
$222B
| $3.51M | 0.81% |
11,900
| – | – |
|
39
Lowe's Companies
LOW
$121B
| $3.4M | 0.78% |
15,320
| – | – |
|
40
Franklin Resources
BEN
$17.1B
| $3.35M | 0.77% |
140,480
| – | – |
|
41
Honeywell
HON
$74.6B
| $3.28M | 0.76% |
14,960
| – | – |
|
42
TJX Companies
TJX
$169B
| $3.21M | 0.74% |
26,000
| – | – |
|
43
Chevron
CVX
$386B
| $3.18M | 0.73% |
22,200
| – | – |
|
44
Comcast
CMCSA
$90.4B
| $3.14M | 0.72% |
88,000
| – | – |
|
45
Automatic Data Processing
ADP
$107B
| $3.08M | 0.71% |
10,000
| – | – |
|
46
Caterpillar
CAT
$393B
| $3.03M | 0.7% |
7,800
| – | – |
|
47
Deere & Co
DE
$167B
| $3M | 0.69% |
5,900
| – | – |
|
48
Verizon
VZ
$195B
| $2.91M | 0.67% |
67,263
-25,000
| -27% | -$1.08M |
|
49
Allstate
ALL
$64.7B
| $2.78M | 0.64% |
13,800
| – | – |
|
|
50
AT&T
T
$166B
| $2.71M | 0.62% |
93,689
-50,000
| -35% | -$1.38M |
|
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Gifford Fong Associates's Q2 2025 Portfolio in Review
As of Q2 2025, Gifford Fong Associates held 126 positions worth $434M, up 8.1% from $402M the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Trading was light in Q2 2025: portfolio turnover was 2.4%. Gifford Fong Associates opened no new positions and exited 3, leaving the 126-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 27% a quarter earlier, followed by Financials and Communication Services.
- Gifford Fong Associates added most to Occidental Petroleum in Q2 2025, an estimated $1.1M increase.
- Gifford Fong Associates's biggest Q2 2025 reduction was NVIDIA, cutting an estimated $3.15M.
- Gifford Fong Associates fully exited Philip Morris in Q2 2025, selling an estimated $2.65M.
- Gifford Fong Associates's ten largest holdings make up 39% of its $434M portfolio in Q2 2025.
- Gifford Fong Associates opened 0 new positions and closed 3 in Q2 2025.
- Gifford Fong Associates's portfolio value rose 8.1% quarter-over-quarter to $434M.
Based on Gifford Fong Associates's 13F filing for Q2 2025, filed 13 Aug 2025.