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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
+23.98%
1 Year Est. Return
+32.77%
3 Year Est. Return
+180.45%
5 Year Est. Return
+217.25%
10 Year Est. Return
–
AUM
$330M
AUM Growth
+$57.5M
Cap. Flow
-$3.11M
Cap. Flow %
-0.94%
Top 10 Hldgs %
43.6%
Holding
130
New
3
Increased
6
Reduced
3
Closed
1

Top Buys

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$5.73M
2
MSFT icon
Microsoft
MSFT
+$3.3M
3
NVDA icon
NVIDIA
NVDA
+$3.24M
4
MRK icon
Merck
MRK
+$1.58M
5
QCOM icon
Qualcomm
QCOM
+$802K

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$10.9M
2
TSLA icon
Tesla
TSLA
+$8.11M
3
RTX icon
RTX Corp
RTX
+$368K
4
CHK
Chesapeake Energy Corporation
CHK
+$52K

Sector Composition

Rank Sector Weight
1 Technology 27.85%
2 Financials 19.47%
3 Healthcare 13.24%
4 Consumer Discretionary 12.27%
5 Communication Services 11.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMZN icon
1
Amazon
AMZN
$2.96T
$26.7M 8.09%
193,680
-90,000
-32% -$10.9M
AAPL icon
2
Apple
AAPL
$4.57T
$23.3M 7.07%
256,000
– –
NVDA icon
3
NVIDIA
NVDA
$5.42T
$20.2M 6.12%
2,125,720
+400,000
+23% +$3.24M
MSFT icon
4
Microsoft
MSFT
$3.71T
$17.9M 5.44%
88,168
+18,168
+26% +$3.3M
BAC icon
5
Bank of America
BAC
$442B
$13.2M 3.99%
554,582
– –
DIS icon
6
Walt Disney
DIS
$181B
$11.2M 3.38%
100,020
– –
MA icon
7
Mastercard
MA
$493B
$10.1M 3.05%
34,000
– –
GOOG icon
8
Alphabet (Google) Class C
GOOG
$4.32T
$8.14M 2.47%
115,140
– –
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.33T
$6.74M 2.04%
95,000
– –
UNH icon
10
UnitedHealth
UNH
$370B
$6.49M 1.97%
22,000
+20,000
+1,000% +$5.73M
V icon
11
Visa
V
$677B
$5.76M 1.74%
29,800
– –
CRM icon
12
Salesforce
CRM
$158B
$5.62M 1.7%
30,000
– –
JPM icon
13
JPMorgan Chase
JPM
$950B
$5.53M 1.68%
58,800
– –
AMD icon
14
Advanced Micro Devices
AMD
$789B
$5.5M 1.67%
104,604
– –
TSLA icon
15
Tesla
TSLA
$1.3T
$5.4M 1.64%
75,000
-150,000
-67% -$8.11M
AMGN icon
16
Amgen
AMGN
$222B
$5.35M 1.62%
22,671
– –
INTC icon
17
Intel
INTC
$513B
$4.94M 1.5%
82,628
– –
BRK.B icon
18
Berkshire Hathaway Class B
BRK.B
$1.13T
$4.73M 1.43%
26,500
– –
WMT icon
19
Walmart Inc
WMT
$890B
$4.36M 1.32%
109,200
– –
COST icon
20
Costco
COST
$420B
$4.31M 1.3%
14,200
– –
PFE icon
21
Pfizer
PFE
$153B
$4.08M 1.24%
131,464
– –
JNJ icon
22
Johnson & Johnson
JNJ
$625B
$4.06M 1.23%
28,900
– –
UNP icon
23
Union Pacific
UNP
$174B
$3.89M 1.18%
23,000
– –
ORCL icon
24
Oracle
ORCL
$423B
$3.81M 1.16%
69,000
– –
BA icon
25
Boeing
BA
$185B
$3.43M 1.04%
18,710
– –
1
2 3 4 5

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Gifford Fong Associates's Q2 2020 Portfolio in Review

As of Q2 2020, Gifford Fong Associates held 130 positions worth $330M, up 21% from $273M the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Trading was light in Q2 2020: portfolio turnover was 3.1%. Gifford Fong Associates opened 3 new positions and exited 1, leaving the 130-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.

  • Gifford Fong Associates's largest Q2 2020 buy was First Horizon: 50,000 shares worth $498K.
  • Gifford Fong Associates added most to UnitedHealth in Q2 2020, an estimated $5.73M increase.
  • Gifford Fong Associates's biggest Q2 2020 reduction was Amazon, cutting an estimated $10.9M.
  • Gifford Fong Associates fully exited Chesapeake Energy Corporation in Q2 2020, selling an estimated $52K.
  • Gifford Fong Associates's ten largest holdings make up 44% of its $330M portfolio in Q2 2020.
  • Gifford Fong Associates opened 3 new positions and closed 1 in Q2 2020.
  • Gifford Fong Associates's portfolio value rose 21% quarter-over-quarter to $330M.

Based on Gifford Fong Associates's 13F filing for Q2 2020, filed 14 Aug 2020.