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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
+17.31%
1 Year Est. Return
+32.77%
3 Year Est. Return
+180.45%
5 Year Est. Return
+217.25%
10 Year Est. Return
–
AUM
$363M
AUM Growth
-$107M
(-23%)
Cap. Flow
-$173M
Cap. Flow
% of AUM
-47.6%
Top 10 Holdings %
Top 10 Hldgs %
35.97%
Holding
140
New
–
Increased
–
Reduced
25
Closed
13
Top Buys
No buys this quarter
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$65.8M |
| 2 |
Apple
AAPL
|
+$13.2M |
| 3 |
Bank of America
BAC
|
+$11.8M |
| 4 |
Eli Lilly
LLY
|
+$9.38M |
| 5 |
Amazon
AMZN
|
+$7.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.27% |
| 2 | Financials | 21.85% |
| 3 | Communication Services | 10.79% |
| 4 | Healthcare | 9.77% |
| 5 | Consumer Discretionary | 9.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.32T
| $33M | 9.11% |
365,710
-908,430
| -71% | -$65.8M |
|
|
2
Amazon
AMZN
$3.01T
| $17.5M | 4.81% |
96,793
-47,476
| -33% | -$7.92M |
|
3
Microsoft
MSFT
$3.78T
| $14.4M | 3.98% |
34,302
-18,623
| -35% | -$7.54M |
|
|
4
Apple
AAPL
$4.47T
| $13.9M | 3.84% |
81,169
-72,501
| -47% | -$13.2M |
|
5
Berkshire Hathaway Class B
BRK.B
$1.15T
| $11.1M | 3.07% |
26,500
| – | – |
|
6
Meta Platforms (Facebook)
META
$1.53T
| $10.9M | 3.01% |
22,500
| – | – |
|
7
Advanced Micro Devices
AMD
$779B
| $8.72M | 2.4% |
48,318
-16,644
| -26% | -$2.91M |
|
8
JPMorgan Chase
JPM
$955B
| $7.07M | 1.95% |
35,296
| – | – |
|
9
Alphabet (Google) Class C
GOOG
$4.31T
| $7.01M | 1.93% |
46,055
-38,641
| -46% | -$5.58M |
|
10
GE Aerospace
GE
$382B
| $6.72M | 1.85% |
47,991
-23,476
| -33% | -$2.77M |
|
11
Mastercard
MA
$495B
| $5.7M | 1.57% |
11,829
-8,580
| -42% | -$3.92M |
|
12
Synchrony
SYF
$25.5B
| $5.7M | 1.57% |
132,073
| – | – |
|
13
Salesforce
CRM
$160B
| $5.42M | 1.5% |
18,009
-10,577
| -37% | -$3.05M |
|
14
Shopify
SHOP
$198B
| $5.4M | 1.49% |
70,000
| – | – |
|
15
Wells Fargo
WFC
$265B
| $5.1M | 1.41% |
88,052
| – | – |
|
16
AbbVie
ABBV
$435B
| $5.08M | 1.4% |
27,900
| – | – |
|
17
Visa
V
$675B
| $4.85M | 1.34% |
17,375
| – | – |
|
|
18
Alphabet (Google) Class A
GOOGL
$4.33T
| $4.7M | 1.3% |
31,140
-25,886
| -45% | -$3.7M |
|
19
Oracle
ORCL
$431B
| $4.68M | 1.29% |
37,250
-31,750
| -46% | -$3.63M |
|
20
Ford
F
$55.6B
| $4.58M | 1.26% |
345,157
| – | – |
|
21
Johnson & Johnson
JNJ
$627B
| $4.57M | 1.26% |
28,900
| – | – |
|
22
Walt Disney
DIS
$178B
| $4.46M | 1.23% |
36,407
-23,632
| -39% | -$2.47M |
|
23
Invesco
IVZ
$14.1B
| $4.24M | 1.17% |
255,393
| – | – |
|
24
Walmart Inc
WMT
$886B
| $3.94M | 1.09% |
65,550
| – | – |
|
25
Lowe's Companies
LOW
$123B
| $3.9M | 1.08% |
15,320
| – | – |
|
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Gifford Fong Associates's Q1 2024 Portfolio in Review
As of Q1 2024, Gifford Fong Associates held 140 positions worth $363M, down 23% from $470M the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Gifford Fong Associates withdrew a net $173M in Q1 2024, closing 13 positions and reducing 25 holdings. Its most notable exit was Eli Lilly, an estimated $9.38M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 34% a quarter earlier, followed by Financials and Communication Services.
- Gifford Fong Associates's biggest Q1 2024 reduction was NVIDIA, cutting an estimated $65.8M.
- Gifford Fong Associates fully exited Eli Lilly in Q1 2024, selling an estimated $9.38M.
- Gifford Fong Associates's ten largest holdings make up 36% of its $363M portfolio in Q1 2024.
- Gifford Fong Associates opened 0 new positions and closed 13 in Q1 2024.
- Gifford Fong Associates's portfolio value fell 23% quarter-over-quarter to $363M.
Based on Gifford Fong Associates's 13F filing for Q1 2024, filed 10 May 2024.