SEC 13F Intelligence

Managers / Q4 2022 · view latest →

Grassi Investment Management

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

Reported Value
$741M
Q4 2022
Positions
119
Filings on Record
28
2019–present window
Filed
Jan 10, 2023
original filing

Summary

Grassi Investment Management reported $741M in U.S.-listed holdings across 119 positions for Q4 2022.

Its largest position, AAPL, represents 6.2% of the portfolio.

Compared with Q3 2022, the fund opened 7 new positions and exited 9.

Portfolio Metrics

Turnover
+4.7%
vs prior filed quarter
Top-10 Concentration
+37.3%
share of reported value
Largest Position
+6.2%
Apple Computer
New / Exited
7 / 9
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: $686MQ4 ’22: $741MQ4 ’22Q1 ’23: $806MQ2 ’23: $909MQ3 ’23: $869MQ4 ’23: $954MQ4 ’23Q1 ’24: $1.1BQ2 ’24: $1.1BQ3 ’24: $1.2BQ4 ’24: $1.2BQ4 ’24Q1 ’25: $1.1BQ2 ’25: $1.3Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 78.6%Other: 8.9%REIT: 7.0%ETP: 3.1%ADR: 2.2%Other: 0.3%
  • Common Stock · 78.6% · $582M
  • Other · 8.9% · $66M
  • REIT · 7.0% · $52M
  • ETP · 3.1% · $23M
  • ADR · 2.2% · $16M
  • Other · 0.3% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SCHWCHARLES SCHWABNEW+3.2K3.2K+$266,000$266,000
MDLZMONDELEZ INTLNEW+3.5K3.5K+$233,000$233,000
DEDEERE & CONEW+525525+$225,000$225,000
CMICUMMINS INCNEW+930930+$225,000$225,000
BERKSHIRE HATH.NEW+726726+$224,000$224,000
NSRGYNESTLE SANEW+1.9K1.9K+$213,000$213,000
FIDELITY INTL INDX-INST PRMNEW+5.1K5.1K+$209,000$209,000
UBERUBER TECHNOLOGIESADDED+109.7K160.2K+$3M$4M

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

Holdings — Q4 2022

118 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE COMPUTERhistory →COM6.16%$46M351.2K
2NVDANVIDIA CORPhistory →COM5.49%$41M278.4K
3MSFTMICROSOFT CORPhistory →COM5.27%$39M162.9K
4LLYLILLY, ELI & COhistory →COM3.92%$29M79.4K
5AMATAPPLIED MATERIALShistory →COM3.66%$27M278.7K
6PLDPROLOGIShistory →COM2.91%$22M191.3K
7VISA INC CL ACOM2.89%$21M103.3K
8QUOTIENT TECH.COM2.46%$18M5.31M
9ABBVABBVIE INC.history →COM2.27%$17M104.0K
10CATCATERPILLARhistory →COM2.23%$17M69.0K
11PGPROCTER & GAMBLEhistory →COM2.13%$16M104.4K
12JPMJP MORGAN CHASEhistory →COM1.98%$15M109.3K
13BROADCOM LTDCOM1.98%$15M26.2K
14RIORIO TINTOhistory →COM1.97%$15M205.0K
15HONHONEYWELL INTLhistory →COM1.89%$14M65.3K
16BACBANK OF AMERICAhistory →COM1.80%$13M403.8K
17LMTLOCKHEED MARTINhistory →COM1.70%$13M26.0K
18JNJJOHN. & JOHN.history →COM1.68%$12M70.5K
19ABTABBOTT LABS COMhistory →COM1.66%$12M112.1K
20HDHOME DEPOT INChistory →COM1.60%$12M37.5K
21MERCK & CO INCCOM1.60%$12M106.7K
22FRCBFIRST REPUBLIChistory →COM1.55%$11M94.0K
23AMTAMERICAN TOWERhistory →COM1.49%$11M52.2K
24STZCONSTELLATIONhistory →COM1.48%$11M47.3K
25UNPUNION PACIFIChistory →COM1.46%$11M52.2K
26MSMORGAN STANLEYhistory →COM1.39%$10M121.3K
27ACTIVISIONCOM1.37%$10M132.3K
28CVXCHEVRON CORPhistory →COM1.37%$10M56.4K
29BABOEINGhistory →COM1.34%$10M52.1K
30BLACKSTONECOM1.34%$10M133.8K
31NOWSERVICENOW, INChistory →COM1.32%$10M25.2K
32ADMARCHR DAN MIDLNDhistory →COM1.21%$9M96.6K
33PEPPEPSICO INChistory →COM1.17%$9M48.0K
34IBMIBM CORPORATIONhistory →COM1.14%$8M60.1K
35AMDADVANCED MICRO DEVhistory →COM1.14%$8M130.6K
36ORCLORACLE CORPhistory →COM1.10%$8M99.6K
37VMCVULCAN MATERIALShistory →COM1.08%$8M45.8K
38BMYBRISTOL-MYERShistory →COM1.05%$8M108.6K
39CCICROWN CASTLE INT'Lhistory →COM1.04%$8M56.6K
40PFEPFIZER INChistory →COM1.03%$8M149.1K
41MARMARRIOTT INTLhistory →COM1.00%$7M50.0K
42WFCWELLS FARGO & COCOM0.93%$7M166.9K
43DISDISNEY, WALT COCOM0.90%$7M76.9K
44DLRDIGITAL REALTY TRCOM0.77%$6M57.2K
45KRESPDR S&P REGIONAL BANKINGCOM0.68%$5M85.7K
46MOALTRIA GROUP INCCOM0.67%$5M108.4K
47WMTWAL-MART STORESCOM0.66%$5M34.7K
48VZVERIZON COMMCOM0.64%$5M119.9K
49CMCSACOMCAST CL ACOM0.63%$5M133.6K
50WYNNWYNN RESORTS LTDCOM0.62%$5M55.4K
51CRMSALESFORCE.COMCOM0.61%$5M34.2K
52RCLROYAL CARIBBEANCOM0.54%$4M80.3K
53UBERUBER TECHNOLOGIESCOM0.53%$4M160.2K
54XLKTECHNOLOGYCOM0.53%$4M31.6K
55GOOGLALPHABET CLASS ACOM0.47%$3M39.5K
56AXPAMERICAN EXPRESSCOM0.46%$3M23.0K
57ABNBAIRBNBCOM0.46%$3M39.5K
58AMZNAMAZON.COMCOM0.45%$3M39.8K
59FREEPORT MCMORANCOM0.44%$3M85.3K
60SPGSIMON PPTY GRP INCCOM0.40%$3M25.2K
61QQQINVESCO QQQCOM0.40%$3M11.0K
62EXMOCEXXON MOBIL CORPCOM0.38%$3M25.8K
63XLVHEALTH CARECOM0.37%$3M20.4K
64RTXRAYTHEONCOM0.36%$3M26.1K
65XLIINDUSTRIALSCOM0.34%$3M25.6K
66COSTCOSTCO WHOLESALECOM0.29%$2M4.8K
67WDAYWORKDAY INCCOM0.29%$2M12.9K
68FORD MOTOR COCOM0.28%$2M180.7K
69MMM3M COMPANYCOM0.23%$2M14.1K
70IBBBIOTECHNOLOGYCOM0.21%$2M12.0K
71GDGENERAL DYNAMICSCOM0.16%$1M4.6K
72TUTELUS CORPCOM0.14%$1M55.2K
73LENDINGCLUB CORPCOM0.13%$1M113.7K
74SONYSONY CORPCOM0.13%$976,00012.8K
75EPDENTERPRISE PRODSCOM0.13%$967,00040.1K
76SBUXSTARBUCKS CORPCOM0.12%$926,0009.3K
77STWDSTARWOOD PROPCOM0.12%$922,00050.3K
78XLBMATERIALSCOM0.12%$921,00011.9K
79CPTCAMDEN PROPERTYCOM0.12%$885,0007.9K
80XLYCONSUMER DISCRCOM0.12%$880,0006.8K
81CLXCLOROX COMPANYCOM0.11%$842,0006.0K
82DVYSELECT DIVIDENDCOM0.09%$691,0005.7K
83HP INC.COM0.09%$688,00025.6K
84AVBAVALONBAYCOM0.09%$676,0004.2K
85CICIGNA CORPCOM0.09%$663,0002.0K
86VFIAXVANGUARD 500 INDEXCOM0.08%$596,0001.7K
87FINANCIALCOM0.07%$540,00015.8K
88TSLATESLA MOTORSCOM0.06%$466,0003.8K
89JOETVIRTUS TERRANOVACOM0.06%$465,00017.4K
90BENFRANKLIN RESCOM0.06%$443,00016.8K
91DIASPDR DOW JONES INDCOM0.06%$425,0001.3K
92METAMETA PLATFORMSCOM0.06%$424,0003.5K
93HPEHEWLETT-PACKARDCOM0.06%$409,00025.6K
94DRIVGLOBAL X ELECTRIC VEHICLESCOM0.05%$393,00019.8K
95MAGELLANCOM0.05%$367,0007.3K
96IGMEXPANDED TECHCOM0.04%$326,0001.2K
97UNHUNITEDHEALTH GROUPCOM0.04%$310,000585
98GAPGAP INCCOM0.04%$300,00026.6K
99ADOBE SYSTEMSCOM0.04%$300,000890
100FLOFLOWERS FOODSCOM0.04%$287,00010.0K

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 2022$741M119Jan 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 ↗.