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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 | |
|---|---|---|---|---|---|---|
51
Verizon
VZ
$195B
| $2.74M | 0.55% |
67,263
| – | – |
|
52
Pinnacle West Capital
PNW
$12.2B
| $2.66M | 0.53% |
30,000
| – | – |
|
53
Comcast
CMCSA
$85B
| $2.63M | 0.52% |
88,000
| – | – |
|
54
Coca-Cola
KO
$377B
| $2.59M | 0.52% |
37,000
| – | – |
|
55
Automatic Data Processing
ADP
$106B
| $2.57M | 0.51% |
10,000
| – | – |
|
56
Intel
INTC
$455B
| $2.45M | 0.49% |
66,395
| – | – |
|
57
Abbott
ABT
$183B
| $2.43M | 0.48% |
19,400
| – | – |
|
58
Merck
MRK
$322B
| $2.41M | 0.48% |
22,900
| – | – |
|
59
AT&T
T
$159B
| $2.33M | 0.46% |
93,689
| – | – |
|
60
Aflac
AFL
$64.9B
| $2.27M | 0.45% |
20,600
| – | – |
|
61
Parker-Hannifin
PH
$123B
| $2.2M | 0.44% |
2,500
| – | – |
|
|
BNY
62
Bank of New York Mellon
BNY
$106B
| $2.19M | 0.44% |
18,872
| – | – |
|
63
PNC Financial Services
PNC
$99.7B
| $2.09M | 0.42% |
10,000
| – | – |
|
64
Cisco
CSCO
$457B
| $2.04M | 0.41% |
26,540
| – | – |
|
65
Travelers Companies
TRV
$78.1B
| $2.03M | 0.4% |
7,000
| – | – |
|
66
UnitedHealth
UNH
$376B
| $1.95M | 0.39% |
5,918
| – | – |
|
67
Lumen
LUMN
$6.57B
| $1.94M | 0.39% |
250,000
| – | – |
|
68
Bristol-Myers Squibb
BMY
$133B
| $1.94M | 0.39% |
35,899
| – | – |
|
69
Boeing
BA
$171B
| $1.9M | 0.38% |
8,735
| – | – |
|
70
PepsiCo
PEP
$190B
| $1.87M | 0.37% |
13,000
| – | – |
|
71
RTX Corp
RTX
$290B
| $1.83M | 0.37% |
10,000
| – | – |
|
72
Starbucks
SBUX
$120B
| $1.77M | 0.35% |
21,000
| – | – |
|
73
American International
AIG
$41.7B
| $1.63M | 0.33% |
19,100
| – | – |
|
74
3M
MMM
$90.9B
| $1.56M | 0.31% |
9,750
| – | – |
|
75
GE HealthCare
GEHC
$30.7B
| $1.56M | 0.31% |
19,012
| – | – |
|
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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.