SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Grassi Investment Management

CIK 0001608531 · 2350 MISSION COLLEGE BLVD STE 190, SANTA CLARA, CA, 95054 · 650-934-0770

Reported Value
$788M
Q4 2020
Positions
136
Filings on Record
28
2019–present window
Filed
Jan 19, 2021
original filing

Summary

Grassi Investment Management reported $788M in U.S.-listed holdings across 136 positions for Q4 2020.

Its largest position, Quotient Tech, represents 6.3% of the portfolio.

Compared with Q3 2020, the fund opened 15 new positions and exited 7.

Portfolio Metrics

Turnover
+5.3%
vs prior filed quarter
Top-10 Concentration
+35.8%
share of reported value
Largest Position
+6.3%
Quotient Tech
New / Exited
15 / 7
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $582MQ4 ’18Q1 ’19: $675MQ2 ’19: $678MQ3 ’19: $667MQ4 ’19: $739MQ4 ’19Q1 ’20: $572MQ2 ’20: $694MQ3 ’20: $706MQ4 ’20: $788MQ4 ’20Q1 ’21: $882MQ2 ’21: $921MQ3 ’21: $889MQ4 ’21: $1.0BQ4 ’21Q1 ’22: $957MQ2 ’22: $757MQ3 ’22: $686MQ1 ’23: $806MQ1 ’23Q2 ’23: $909MQ3 ’23: $869MQ4 ’23: $954MQ1 ’24: $1.1BQ1 ’24Q2 ’24: $1.1BQ3 ’24: $1.2BQ4 ’24: $1.2BQ1 ’25: $1.1BQ1 ’25Q2 ’25: $1.3Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 74.4%Other: 10.0%REIT: 8.1%ADR: 4.5%ETP: 2.6%Other: 0.4%
  • Common Stock · 74.4% · $587M
  • Other · 10.0% · $79M
  • REIT · 8.1% · $64M
  • ADR · 4.5% · $35M
  • ETP · 2.6% · $20M
  • Other · 0.4% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MOSAIC CONEW+106.8K106.8K+$2M$2M
HORIZON PHARMA PLCNEW+14.9K14.9K+$1M$1M
US STEEL CORPNEW+29.5K29.5K+$495,000$495,000
JOETVIRTUS TERRANOVANEW+16.3K16.3K+$427,000$427,000
ETSYETSY INCNEW+1.5K1.5K+$267,000$267,000
LENLENNAR CORPNEW+3.5K3.5K+$263,000$263,000
PODDINSULET CORPNEW+1.0K1.0K+$256,000$256,000
WMWASTE MANAGEMENTNEW+1.9K1.9K+$224,000$224,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2020

135 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1QUOTIENT TECH.COM6.34%$50M5.31M
2AAPLAPPLE COMPUTERhistory →COM5.96%$47M354.1K
3MSFTMICROSOFT CORPhistory →COM4.64%$37M164.5K
4NVDANVIDIA CORPhistory →COM4.55%$36M68.8K
5VISA INC CL ACOM2.96%$23M106.6K
6AMATAPPLIED MATERIALShistory →COM2.76%$22M251.8K
7PLDPROLOGIShistory →COM2.42%$19M191.6K
8ACTIVISIONCOM2.23%$18M189.1K
9DISDISNEY, WALT COhistory →COM2.03%$16M88.5K
10RIORIO TINTOhistory →COM1.95%$15M204.9K
11PGPROCTER & GAMBLEhistory →COM1.85%$15M104.8K
12HONHONEYWELL INTLhistory →COM1.80%$14M66.6K
13NOWSERVICENOW, INChistory →COM1.79%$14M25.6K
14JPMJP MORGAN CHASEhistory →COM1.79%$14M111.0K
15FRCBFIRST REPUBLIChistory →COM1.75%$14M94.0K
16LLYLILLY, ELI & COhistory →COM1.71%$13M79.9K
17MEDTRONIC PLCCOM1.66%$13M111.8K
18CATCATERPILLARhistory →COM1.62%$13M70.1K
19ABTABBOTT LABS COMhistory →COM1.57%$12M113.0K
20BACBANK OF AMERICAhistory →COM1.54%$12M399.5K
21STZCONSTELLATIONhistory →COM1.52%$12M54.7K
22CCICROWN CASTLE INT'Lhistory →COM1.48%$12M73.1K
23AMTAMERICAN TOWERhistory →COM1.48%$12M51.8K
24BABOEINGhistory →COM1.47%$12M54.2K
25BROADCOM LTDCOM1.47%$12M26.4K
26JNJJOHN. & JOHN.history →COM1.42%$11M71.0K
27ABBVABBVIE INC.history →COM1.40%$11M102.8K
28UNPUNION PACIFIChistory →COM1.38%$11M52.3K
29TSMTAIWAN SEMI ADRhistory →COM1.30%$10M94.3K
30HDHOME DEPOT INChistory →COM1.27%$10M37.7K
31LMTLOCKHEED MARTINhistory →COM1.18%$9M26.1K
32CYRUSONE INCCOM1.17%$9M126.2K
33MERCK & CO INCCOM1.15%$9M110.4K
34BMYBRISTOL-MYERShistory →COM1.13%$9M143.1K
35AMDADVANCED MICRO DEVhistory →COM1.12%$9M96.0K
36DLRDIGITAL REALTY TRhistory →COM1.10%$9M62.1K
37MSMORGAN STANLEYhistory →COM1.03%$8M119.0K
38LHXL3HARRIS TECHhistory →COM1.03%$8M43.1K
39CRMSALESFORCE.COMCOM0.99%$8M35.2K
40MUMICRON TECHNOLOGYCOM0.99%$8M103.8K
41BLACKSTONECOM0.98%$8M119.3K
42NVSNOVARTIS AGCOM0.96%$8M79.9K
43VZVERIZON COMMCOM0.94%$7M125.8K
44CMCSACOMCAST CL ACOM0.91%$7M136.8K
45PEPPEPSICO INCCOM0.90%$7M48.0K
46VMCVULCAN MATERIALSCOM0.86%$7M45.8K
47MARMARRIOTT INTLCOM0.84%$7M50.0K
48MMM3M COMPANYCOM0.76%$6M34.1K
49PFEPFIZER INCCOM0.74%$6M157.5K
50WDCWESTERN DIGITALCOM0.66%$5M94.2K
51WMTWAL-MART STORESCOM0.64%$5M35.1K
52AMZNAMAZON.COMCOM0.63%$5M1.5K
53IBMIBM CORPORATIONCOM0.63%$5M39.2K
54MOALTRIA GROUP INCCOM0.60%$5M116.1K
55CVXCHEVRON CORPCOM0.60%$5M56.3K
56RCLROYAL CARIBBEANCOM0.60%$5M63.3K
57FISVFISERV INCCOM0.50%$4M34.5K
58QQQINVESCO QQQCOM0.49%$4M12.4K
59XLKTECHNOLOGY SPDRCOM0.49%$4M29.7K
60AT&TCOM0.49%$4M133.4K
61WFCWELLS FARGO & COCOM0.48%$4M125.0K
62AXPAMERICAN EXPRESSCOM0.35%$3M23.0K
63FREEPORT MCMORANCOM0.32%$3M98.4K
64LITELUMENTUM HLDGCOM0.31%$2M26.0K
65MOSAIC COCOM0.31%$2M106.8K
66WDAYWORKDAY INCCOM0.30%$2M10.0K
67XLIINDUSTRIALS SPDRCOM0.30%$2M27.1K
68IBBISHARES BIOTECHNOLOGYCOM0.28%$2M14.6K
69GOOGLALPHABET CLASS ACOM0.27%$2M1.2K
70RTXRAYTHEONCOM0.25%$2M27.9K
71XLVHEALTH CARE SPDRCOM0.25%$2M17.1K
72METAFACEBOOK, INC.COM0.23%$2M6.6K
73PPAINVESCO AEROSP & DEFCOM0.21%$2M24.4K
74SONYSONY CORPCOM0.18%$1M14.2K
75STWDSTARWOOD PROPCOM0.17%$1M70.3K
76COSTCOSTCO WHOLESALECOM0.17%$1M3.5K
77CLXCLOROX COMPANYCOM0.15%$1M6.0K
78CITIGROUP INCCOM0.15%$1M18.9K
79VFIAXVANGUARD 500 INDEXCOM0.14%$1M3.2K
80HORIZON PHARMA PLCCOM0.14%$1M14.9K
81SBUXSTARBUCKS CORPCOM0.13%$1M9.9K
82EXMOCEXXON MOBIL CORPCOM0.13%$1M25.6K
83XLYSPDR CONSUMER DISCRCOM0.13%$999,0006.2K
84EPDENTERPRISE PRODSCOM0.10%$825,00042.1K
85CPTCAMDEN PROPERTYCOM0.10%$800,0008.0K
86ORCLORACLE CORPCOM0.10%$789,00012.2K
87GLDSPDR GOLD SHARESCOM0.09%$749,0004.2K
88XLBMATERIALS SPDRCOM0.09%$708,0009.8K
89AVBAVALONBAYCOM0.09%$671,0004.2K
90US OILCOM0.08%$660,00020.0K
91UBERUBER TECHNOLOGIESCOM0.08%$637,00012.5K
92HP INC.COM0.08%$630,00025.6K
93GAPGAP INCCOM0.07%$537,00026.6K
94US STEEL CORPCOM0.06%$495,00029.5K
95ISHARES SIlVERCOM0.06%$491,00020.0K
96INNOVATOR IBD 50COM0.06%$474,00011.6K
97DVYISHARES SELECT DIVIDENDCOM0.06%$463,0004.8K
98ADOBE SYSTEMSCOM0.06%$450,000900
99TSLATESLA MOTORSCOM0.06%$448,000635
100DIASPDR DOW JONES INDCOM0.05%$432,0001.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2025$1.3B128Jul 21, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.1B122Apr 10, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.2B130Jan 21, 2025RESTATEMENTchanges · EDGAR ↗
Q3 2024$1.2B128Oct 22, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.1B130Jul 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.1B125Apr 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$954M122Jan 10, 202413F-HRchanges · EDGAR ↗
Q3 2023$869M123Oct 11, 202313F-HRchanges · EDGAR ↗
Q2 2023$909M125Jul 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$806M126Apr 11, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review119Jan 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$686M121Oct 12, 202213F-HRchanges · EDGAR ↗
Q2 2022$757M125Jul 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$957M136Apr 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.0B146Jan 13, 202213F-HRchanges · EDGAR ↗
Q3 2021$889M142Oct 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$921M143Jul 9, 202113F-HRchanges · EDGAR ↗
Q1 2021$882M143Apr 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$788M136Jan 19, 202113F-HRchanges · EDGAR ↗
Q3 2020$706M128Oct 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$694M130Jul 15, 202013F-HRchanges · EDGAR ↗
Q1 2020$572M107Apr 8, 202013F-HRchanges · EDGAR ↗
Q4 2019$739M112Jan 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$667M120Oct 4, 201913F-HRchanges · EDGAR ↗
Q2 2019$678M119Jul 10, 201913F-HRchanges · EDGAR ↗
Q1 2019$675M136Apr 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$582M111Jan 10, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.