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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 | |
|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.34T
| $45.9M | 9.66% |
246,210
-30,000
| -11% | -$5.23M |
|
2
Amazon
AMZN
$2.99T
| $21.3M | 4.47% |
96,793
| – | – |
|
3
Apple
AAPL
$4.47T
| $20.7M | 4.34% |
81,169
| – | – |
|
4
Microsoft
MSFT
$3.79T
| $17.8M | 3.73% |
34,302
| – | – |
|
5
Meta Platforms (Facebook)
META
$1.54T
| $16.5M | 3.47% |
22,500
| – | – |
|
|
6
Salesforce
CRM
$160B
| $14.9M | 3.14% |
63,009
+20,000
| +47% | +$5.04M |
|
7
Berkshire Hathaway Class B
BRK.B
$1.15T
| $13.3M | 2.8% |
26,500
| – | – |
|
8
GE Aerospace
GE
$383B
| $11.5M | 2.42% |
38,301
| – | – |
|
9
Alphabet (Google) Class C
GOOG
$4.33T
| $11.2M | 2.36% |
46,055
| – | – |
|
10
JPMorgan Chase
JPM
$954B
| $11.1M | 2.34% |
35,296
| – | – |
|
11
Oracle
ORCL
$434B
| $10.5M | 2.2% |
37,250
| – | – |
|
12
Shopify
SHOP
$198B
| $10.4M | 2.19% |
70,000
| – | – |
|
13
Synchrony
SYF
$25.5B
| $9.38M | 1.97% |
132,073
| – | – |
|
|
14
Occidental Petroleum
OXY
$57.6B
| $8.1M | 1.7% |
171,429
+50,000
| +41% | +$2.26M |
|
15
Advanced Micro Devices
AMD
$779B
| $7.82M | 1.64% |
48,318
| – | – |
|
|
16
Alphabet (Google) Class A
GOOGL
$4.34T
| $7.57M | 1.59% |
31,140
| – | – |
|
17
Wells Fargo
WFC
$265B
| $7.38M | 1.55% |
88,052
| – | – |
|
18
ExxonMobil
XOM
$654B
| $7M | 1.47% |
62,066
| – | – |
|
19
Walmart Inc
WMT
$888B
| $6.76M | 1.42% |
65,550
| – | – |
|
20
Mastercard
MA
$495B
| $6.73M | 1.41% |
11,829
| – | – |
|
21
AbbVie
ABBV
$434B
| $6.46M | 1.36% |
27,900
| – | – |
|
22
Goldman Sachs
GS
$303B
| $6.37M | 1.34% |
8,000
| – | – |
|
23
Citigroup
C
$227B
| $6.24M | 1.31% |
61,471
| – | – |
|
24
Visa
V
$676B
| $5.93M | 1.25% |
17,375
| – | – |
|
25
GE Vernova
GEV
$265B
| $5.89M | 1.24% |
9,575
| – | – |
|
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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.