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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
+10.59%
1 Year Est. Return
+32.77%
3 Year Est. Return
+180.45%
5 Year Est. Return
+217.25%
10 Year Est. Return
–
AUM
$476M
AUM Growth
+$41.5M
(+9.5%)
Cap. Flow
+$1.9M
Cap. Flow
% of AUM
0.4%
Top 10 Holdings %
Top 10 Hldgs %
38.73%
Holding
123
New
–
Increased
2
Reduced
2
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$5.04M |
| 2 |
Occidental Petroleum
OXY
|
+$2.26M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$5.23M |
| 2 |
WBA
Walgreens Boots Alliance
WBA
|
+$172K |
| 3 |
Solventum
SOLV
|
+$73 |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.36% |
| 2 | Financials | 22.97% |
| 3 | Communication Services | 11.17% |
| 4 | Industrials | 8.97% |
| 5 | Consumer Discretionary | 8.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Bausch Health
BHC
$2.32B
| $645K | 0.14% |
100,000
| – | – |
|
102
Globe Life
GL
$13.8B
| $643K | 0.14% |
4,500
| – | – |
|
103
APA Corp
APA
$14B
| $607K | 0.13% |
25,000
| – | – |
|
104
Carrier Global
CARR
$52B
| $597K | 0.13% |
10,000
| – | – |
|
105
US Bancorp
USB
$101B
| $580K | 0.12% |
12,000
| – | – |
|
106
KeyCorp
KEY
$24.5B
| $561K | 0.12% |
30,000
| – | – |
|
107
Deutsche Bank
DB
$72.4B
| $531K | 0.11% |
15,000
| – | – |
|
108
Hormel Foods
HRL
$13.4B
| $495K | 0.1% |
20,000
| – | – |
|
109
Nucor
NUE
$61.9B
| $406K | 0.09% |
3,000
| – | – |
|
110
DuPont de Nemours
DD
$19.5B
| $363K | 0.08% |
3,716
| – | – |
|
111
Wabtec
WAB
$49.9B
| $362K | 0.08% |
1,806
| – | – |
|
112
Warner Bros
WBD
$69.3B
| $269K | 0.06% |
13,760
| – | – |
|
113
BlackBerry
BB
$5.14B
| $244K | 0.05% |
50,000
| – | – |
|
114
International Flavors & Fragrances
IFF
$21.4B
| $228K | 0.05% |
3,707
| – | – |
|
115
Dow Inc
DOW
$22.1B
| $225K | 0.05% |
9,828
| – | – |
|
116
Stanley Black & Decker
SWK
$15.5B
| $223K | 0.05% |
3,000
| – | – |
|
117
Halliburton
HAL
$27.7B
| $197K | 0.04% |
8,000
| – | – |
|
|
118
Solventum
SOLV
$14.5B
| $178K | 0.04% |
2,437
-1
| -0% | -$73 |
|
119
NOV
NOV
$7.45B
| $159K | 0.03% |
12,000
| – | – |
|
120
Viatris
VTRS
$18.5B
| $153K | 0.03% |
15,476
| – | – |
|
121
CVS Health
CVS
$121B
| $126K | 0.03% |
1,675
| – | – |
|
122
Emerson Electric
EMR
$91.4B
| $23K | ﹤0.01% |
178
| – | – |
|
|
WBA
123
DELISTED
Walgreens Boots Alliance
WBA
| – | – |
-15,000
| Closed | -$172K |
|
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Gifford Fong Associates's Q3 2025 Portfolio in Review
As of Q3 2025, Gifford Fong Associates held 123 positions worth $476M, up 9.5% from $434M the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Trading was light in Q3 2025: portfolio turnover was 0.81%. Gifford Fong Associates opened no new positions and exited 1, leaving the 123-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 30% a quarter earlier, followed by Financials and Communication Services.
- Gifford Fong Associates added most to Salesforce in Q3 2025, an estimated $5.04M increase.
- Gifford Fong Associates's biggest Q3 2025 reduction was NVIDIA, cutting an estimated $5.23M.
- Gifford Fong Associates fully exited Walgreens Boots Alliance in Q3 2025, selling an estimated $172K.
- Gifford Fong Associates's ten largest holdings make up 39% of its $476M portfolio in Q3 2025.
- Gifford Fong Associates opened 0 new positions and closed 1 in Q3 2025.
- Gifford Fong Associates's portfolio value rose 9.5% quarter-over-quarter to $476M.
Based on Gifford Fong Associates's 13F filing for Q3 2025, filed 3 Nov 2025.