SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Grassi Investment Management

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

Reported Value
$889M
Q3 2021
Positions
142
Filings on Record
28
2019–present window
Filed
Oct 12, 2021
original filing

Summary

Grassi Investment Management reported $889M in U.S.-listed holdings across 142 positions for Q3 2021.

Its largest position, NVDA, represents 6.5% of the portfolio.

Compared with Q2 2021, the fund opened 6 new positions and exited 7.

Portfolio Metrics

Turnover
+4.2%
vs prior filed quarter
Top-10 Concentration
+36.1%
share of reported value
Largest Position
+6.5%
Nvidia
New / Exited
6 / 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: 75.6%Other: 9.9%REIT: 8.5%ADR: 2.9%ETP: 2.8%Other: 0.3%
  • Common Stock · 75.6% · $672M
  • Other · 9.9% · $88M
  • REIT · 8.5% · $75M
  • ADR · 2.9% · $26M
  • ETP · 2.8% · $25M
  • Other · 0.3% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TUTELUS CORPNEW+109.4K109.4K+$2M$2M
KTOSKRATOS DEFENSENEW+61.2K61.2K+$1M$1M
MRNAMODERNA INCNEW+600600+$231,000$231,000
TILRAY INCNEW+18.6K18.6K+$210,000$210,000
VWENXVANGUARD WELLINGTONNEW+2.4K2.4K+$201,000$201,000
CLNECLEAN ENRGY FUELNEW+10.5K10.5K+$86,000$86,000
NVDANVIDIA CORPADDED+208.8K278.7K+$2M$58M
WYNNWYNN RESORTS LTDADDED+47.5K69.3K+$3M$6M

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

Holdings — Q3 2021

141 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPhistory →COM6.50%$58M278.7K
2AAPLAPPLE COMPUTERhistory →COM5.67%$50M356.5K
3MSFTMICROSOFT CORPhistory →COM5.24%$47M165.2K
4AMATAPPLIED MATERIALShistory →COM3.66%$33M253.0K
5QUOTIENT TECH.COM3.47%$31M5.31M
6PLDPROLOGIShistory →COM2.70%$24M191.1K
7VISA INC CL ACOM2.68%$24M107.1K
8LLYLILLY, ELI & COhistory →COM2.06%$18M79.4K
9FRCBFIRST REPUBLIChistory →COM2.04%$18M94.0K
10JPMJP MORGAN CHASEhistory →COM2.03%$18M110.0K
11BACBANK OF AMERICAhistory →COM1.89%$17M395.7K
12NOWSERVICENOW, INChistory →COM1.79%$16M25.5K
13DISDISNEY, WALT COhistory →COM1.70%$15M89.2K
14PGPROCTER & GAMBLEhistory →COM1.64%$15M104.4K
15MEDTRONIC PLCCOM1.59%$14M113.0K
16HONHONEYWELL INTLhistory →COM1.58%$14M66.2K
17RIORIO TINTOhistory →COM1.56%$14M208.1K
18AMTAMERICAN TOWERhistory →COM1.54%$14M51.7K
19BLACKSTONECOM1.54%$14M117.8K
20CATCATERPILLARhistory →COM1.50%$13M69.6K
21ABTABBOTT LABS COMhistory →COM1.50%$13M113.1K
22BABOEINGhistory →COM1.47%$13M59.4K
23BROADCOM LTDCOM1.44%$13M26.3K
24HDHOME DEPOT INChistory →COM1.39%$12M37.8K
25ACTIVISIONCOM1.39%$12M159.8K
26CCICROWN CASTLE INT'Lhistory →COM1.35%$12M69.2K
27MSMORGAN STANLEYhistory →COM1.30%$12M119.0K
28JNJJOHN. & JOHN.history →COM1.30%$12M71.3K
29ABBVABBVIE INC.history →COM1.29%$11M106.2K
30ORCLORACLE CORPhistory →COM1.21%$11M123.8K
31UNPUNION PACIFIChistory →COM1.15%$10M52.3K
32TSMTAIWAN SEMI ADRhistory →COM1.15%$10M91.4K
33STZCONSTELLATIONhistory →COM1.14%$10M48.3K
34CRMSALESFORCE.COMhistory →COM1.11%$10M36.5K
35CYRUSONE INCCOM1.10%$10M126.2K
36AMDADVANCED MICRO DEVhistory →COM1.09%$10M93.9K
37ABNBAIRBNBhistory →COM1.08%$10M57.4K
38LMTLOCKHEED MARTINhistory →COM1.02%$9M26.2K
39DLRDIGITAL REALTY TRCOM1.00%$9M61.5K
40MERCK & CO INCCOM0.91%$8M107.8K
41VMCVULCAN MATERIALSCOM0.87%$8M45.8K
42CMCSACOMCAST CL ACOM0.86%$8M137.0K
43WFCWELLS FARGO & COCOM0.86%$8M164.1K
44MARMARRIOTT INTLCOM0.83%$7M50.0K
45PEPPEPSICO INCCOM0.81%$7M48.0K
46MOSAIC COCOM0.79%$7M197.4K
47RCLROYAL CARIBBEANCOM0.78%$7M77.8K
48VZVERIZON COMMCOM0.76%$7M125.1K
49BMYBRISTOL-MYERSCOM0.71%$6M107.4K
50PFEPFIZER INCCOM0.71%$6M147.7K
51ADMARCHR DAN MIDLNDCOM0.68%$6M101.4K
52MMM3M COMPANYCOM0.67%$6M34.1K
53WYNNWYNN RESORTS LTDCOM0.66%$6M69.3K
54CVXCHEVRON CORPCOM0.64%$6M55.9K
55IBMIBM CORPORATIONCOM0.61%$5M38.8K
56MOALTRIA GROUP INCCOM0.60%$5M116.6K
57AMZNAMAZON.COMCOM0.60%$5M1.6K
58WMTWAL-MART STORESCOM0.54%$5M34.7K
59XLKTECHNOLOGYCOM0.53%$5M31.3K
60FISVFISERV INCCOM0.51%$5M42.1K
61QQQINVESCO QQQCOM0.50%$4M12.5K
62AXPAMERICAN EXPRESSCOM0.43%$4M23.0K
63GOOGLALPHABET CLASS ACOM0.38%$3M1.3K
64US STEEL CORPCOM0.35%$3M141.8K
65FREEPORT MCMORANCOM0.35%$3M95.0K
66LENDINGCLUB CORPCOM0.33%$3M104.5K
67WDAYWORKDAY INCCOM0.32%$3M11.3K
68XLIINDUSTRIALSCOM0.32%$3M28.7K
69IBBBIOTECHNOLOGYCOM0.27%$2M15.0K
70RTXRAYTHEONCOM0.27%$2M28.0K
71TUTELUS CORPCOM0.27%$2M109.4K
72LHXL3HARRIS TECHCOM0.27%$2M10.8K
73XLVHEALTH CARECOM0.27%$2M18.5K
74SPGSIMON PPTY GRP INCCOM0.26%$2M17.5K
75METAFACEBOOK, INC.COM0.22%$2M5.8K
76COSTCOSTCO WHOLESALECOM0.21%$2M4.1K
77PPAINVESCO AEROSP & DEFCOM0.19%$2M23.9K
78SONYSONY CORPCOM0.18%$2M14.7K
79EXMOCEXXON MOBIL CORPCOM0.17%$2M25.6K
80KTOSKRATOS DEFENSECOM0.15%$1M61.2K
81XLYCONSUMER DISCRCOM0.14%$1M6.9K
82CITIGROUP INCCOM0.14%$1M17.6K
83CPTCAMDEN PROPERTYCOM0.13%$1M8.0K
84STWDSTARWOOD PROPCOM0.13%$1M48.3K
85UBERUBER TECHNOLOGIESCOM0.13%$1M25.4K
86SBUXSTARBUCKS CORPCOM0.13%$1M10.2K
87US OILCOM0.12%$1M20.0K
88CLXCLOROX COMPANYCOM0.11%$994,0006.0K
89AVBAVALONBAYCOM0.10%$928,0004.2K
90EPDENTERPRISE PRODSCOM0.10%$911,00042.1K
91VFIAXVANGUARD 500 INDEXCOM0.10%$878,0002.2K
92XLBMATERIALSCOM0.10%$857,00010.8K
93TSLATESLA MOTORSCOM0.09%$824,0001.1K
94JOETVIRTUS TERRANOVACOM0.08%$742,00025.1K
95HP INC.COM0.08%$700,00025.6K
96GLDSPDR GOLD SHARESCOM0.08%$690,0004.2K
97GAPGAP INCCOM0.07%$604,00026.6K
98COTYCOTY INCCOM0.07%$586,00074.5K
99DVYSELECT DIVIDENDCOM0.06%$573,0005.0K
100ADOBE SYSTEMSCOM0.06%$570,000990

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 ↗.