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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
-15.29%
1 Year Est. Return
+32.77%
3 Year Est. Return
+180.45%
5 Year Est. Return
+217.25%
10 Year Est. Return
–
AUM
$273M
AUM Growth
-$70.2M
(-20%)
Cap. Flow
+$2.88M
Cap. Flow
% of AUM
1.05%
Top 10 Holdings %
Top 10 Hldgs %
42.58%
Holding
127
New
2
Increased
6
Reduced
9
Closed
–
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$9.33M |
| 2 |
Apple
AAPL
|
+$7.35M |
| 3 |
Salesforce
CRM
|
+$3.43M |
| 4 |
Biogen
BIIB
|
+$3.03M |
| 5 |
Costco
COST
|
+$3.03M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$12.6M |
| 2 |
Meta Platforms (Facebook)
META
|
+$4.89M |
| 3 |
MRO
Marathon Oil Corporation
MRO
|
+$3.06M |
| 4 |
Advanced Micro Devices
AMD
|
+$2.41M |
| 5 |
Amazon
AMZN
|
+$1.94M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.33% |
| 2 | Financials | 20.45% |
| 3 | Consumer Discretionary | 15.51% |
| 4 | Healthcare | 12.47% |
| 5 | Communication Services | 11.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Automatic Data Processing
ADP
$107B
| $1.37M | 0.5% |
10,000
| – | – |
|
52
3M
MMM
$94.8B
| $1.33M | 0.49% |
11,661
| – | – |
|
53
IBM
IBM
$222B
| $1.32M | 0.48% |
12,447
| – | – |
|
54
Lowe's Companies
LOW
$121B
| $1.32M | 0.48% |
15,320
| – | – |
|
55
Allstate
ALL
$64.7B
| $1.27M | 0.46% |
13,800
| – | – |
|
56
TJX Companies
TJX
$169B
| $1.24M | 0.46% |
26,000
| – | – |
|
57
Nike
NKE
$60.1B
| $1.24M | 0.46% |
15,000
| – | – |
|
58
Goldman Sachs
GS
$302B
| $1.24M | 0.45% |
8,000
| – | – |
|
59
Philip Morris
PM
$290B
| $1.22M | 0.45% |
16,700
| – | – |
|
60
ExxonMobil
XOM
$657B
| $1.12M | 0.41% |
29,539
| – | – |
|
61
United Parcel Service
UPS
$88.4B
| $1.1M | 0.4% |
11,800
| – | – |
|
62
Cisco
CSCO
$488B
| $1.04M | 0.38% |
26,540
| – | – |
|
63
Pitney Bowes
PBI
$2.28B
| $1.04M | 0.38% |
511,059
| – | – |
|
64
Morgan Stanley
MS
$342B
| $1.02M | 0.37% |
30,000
| – | – |
|
65
Public Storage
PSA
$60.4B
| $993K | 0.36% |
5,000
| – | – |
|
66
Franklin Resources
BEN
$17.1B
| $974K | 0.36% |
+58,329
| New | +$1.34M |
|
67
PNC Financial Services
PNC
$102B
| $957K | 0.35% |
10,000
| – | – |
|
68
RTX Corp
RTX
$300B
| $943K | 0.35% |
15,890
| – | – |
|
69
American Express
AXP
$232B
| $942K | 0.35% |
11,000
| – | – |
|
70
AT&T
T
$166B
| $940K | 0.34% |
42,688
| – | – |
|
71
Hormel Foods
HRL
$13.4B
| $933K | 0.34% |
20,000
| – | – |
|
|
SIVB
72
DELISTED
SVB Financial Group
SIVB
| $906K | 0.33% |
6,000
| – | – |
|
73
Caterpillar
CAT
$393B
| $905K | 0.33% |
7,800
| – | – |
|
74
Deere & Co
DE
$167B
| $815K | 0.3% |
5,900
| – | – |
|
75
Texas Instruments
TXN
$253B
| $799K | 0.29% |
8,000
| – | – |
|
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Gifford Fong Associates's Q1 2020 Portfolio in Review
As of Q1 2020, Gifford Fong Associates held 127 positions worth $273M, down 20% from $343M the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Trading was light in Q1 2020: portfolio turnover was 1.6%. Gifford Fong Associates opened 2 new positions and made no exits, leaving the 127-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 22% a quarter earlier, followed by Financials and Consumer Discretionary.
- Gifford Fong Associates's largest Q1 2020 buy was Tesla: 225,000 shares worth $7.86M.
- Gifford Fong Associates added most to Apple in Q1 2020, an estimated $7.35M increase.
- Gifford Fong Associates's biggest Q1 2020 reduction was NVIDIA, cutting an estimated $12.6M.
- Gifford Fong Associates's ten largest holdings make up 43% of its $273M portfolio in Q1 2020.
- Gifford Fong Associates opened 2 new positions and closed 0 in Q1 2020.
- Gifford Fong Associates's portfolio value fell 20% quarter-over-quarter to $273M.
Based on Gifford Fong Associates's 13F filing for Q1 2020, filed 14 May 2020.