SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Grassi Investment Management

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

Reported Value
$869M
Q3 2023
Positions
123
Filings on Record
28
2019–present window
Filed
Oct 11, 2023
original filing

Summary

Grassi Investment Management reported $869M in U.S.-listed holdings across 123 positions for Q3 2023.

Its largest position, NVDA, represents 13.7% of the portfolio.

Compared with Q2 2023, the fund opened 6 new positions and exited 8.

Portfolio Metrics

Turnover
+3.6%
vs prior filed quarter
Top-10 Concentration
+47.3%
share of reported value
Largest Position
+13.7%
Nvidia
New / Exited
6 / 8
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: 81.0%Other: 8.7%REIT: 5.6%ETP: 2.8%ADR: 1.6%Other: 0.2%
  • Common Stock · 81.0% · $705M
  • Other · 8.7% · $76M
  • REIT · 5.6% · $49M
  • ETP · 2.8% · $24M
  • ADR · 1.6% · $14M
  • Other · 0.2% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SNOWSNOWFLAKE CLASS ANEW+34.7K34.7K+$5M$5M
CRWDCROWDSTRIKE HOLDINGSNEW+12.7K12.7K+$2M$2M
ALLIANCE RES PTNRSNEW+57.0K57.0K+$1M$1M
OKEONEOK INCNEW+4.9K4.9K+$309,000$309,000
ASMLFASML HOLDINGS NVNEW+375375+$221,000$221,000
ETFMG PRM CYBER SECURITYNEW+4.0K4.0K+$209,000$209,000
SCHWCHARLES SCHWABADDED+49.6K95.2K+$3M$5M
QUOTIENT TECH.SOLD OUT−5.31M0−$20M$0

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

Holdings — Q3 2023

122 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPhistory →COM13.70%$119M273.8K
2AAPLAPPLE COMPUTERhistory →COM6.80%$59M345.3K
3MSFTMICROSOFT CORPhistory →COM5.86%$51M161.3K
4LLYLILLY, ELI & COhistory →COM4.91%$43M79.4K
5AMATAPPLIED MATERIALShistory →COM4.43%$39M278.1K
6VISA INC CL ACOM2.67%$23M101.0K
7BROADCOM LTDCOM2.50%$22M26.2K
8PLDPROLOGIShistory →COM2.47%$21M191.2K
9CATCATERPILLARhistory →COM2.17%$19M69.0K
10JPMJP MORGAN CHASEhistory →COM1.81%$16M108.5K
11ABBVABBVIE INC.history →COM1.76%$15M102.7K
12PGPROCTER & GAMBLEhistory →COM1.75%$15M104.4K
13NOWSERVICENOW, INChistory →COM1.63%$14M25.4K
14AMDADVANCED MICRO DEVhistory →COM1.56%$14M131.8K
15RIORIO TINTOhistory →COM1.50%$13M204.6K
16BLACKSTONECOM1.49%$13M120.6K
17BACBANK OF AMERICAhistory →COM1.40%$12M444.5K
18ACTIVISIONCOM1.39%$12M128.8K
19HONHONEYWELL INTLhistory →COM1.38%$12M64.8K
20STZCONSTELLATIONhistory →COM1.36%$12M47.2K
21HDHOME DEPOT INChistory →COM1.30%$11M37.3K
22ABTABBOTT LABS COMhistory →COM1.25%$11M111.8K
23JNJJOHN. & JOHN.history →COM1.24%$11M69.5K
24MERCK & CO INCCOM1.24%$11M104.9K
25UNPUNION PACIFIChistory →COM1.22%$11M52.2K
26LMTLOCKHEED MARTINhistory →COM1.22%$11M25.9K
27ORCLORACLE CORPhistory →COM1.21%$11M99.6K
28MSMORGAN STANLEYhistory →COM1.14%$10M121.0K
29BABOEINGhistory →COM1.14%$10M51.5K
30MARMARRIOTT INTLhistory →COM1.13%$10M50.0K
31CVXCHEVRON CORPhistory →COM1.09%$10M56.4K
32VMCVULCAN MATERIALShistory →COM1.04%$9M45.0K
33AMTAMERICAN TOWERhistory →COM1.03%$9M54.3K
34UBERUBER TECHNOLOGIEShistory →COM1.03%$9M194.1K
35IBMIBM CORPORATIONCOM0.97%$8M60.1K
36WFCWELLS FARGO & COCOM0.92%$8M196.0K
37DLRDIGITAL REALTY TRCOM0.79%$7M57.0K
38CRMSALESFORCE.COMCOM0.79%$7M33.9K
39DISDISNEY, WALT COCOM0.79%$7M84.2K
40PEPPEPSICO INCCOM0.74%$6M38.0K
41RCLROYAL CARIBBEANCOM0.73%$6M68.5K
42BMYBRISTOL-MYERSCOM0.72%$6M108.6K
43CCICROWN CASTLE INT'LCOM0.71%$6M67.0K
44CMCSACOMCAST CL ACOM0.68%$6M133.6K
45AMZNAMAZON.COMCOM0.66%$6M45.0K
46WMTWAL-MART STORESCOM0.64%$6M34.7K
47ABNBAIRBNBCOM0.62%$5M39.4K
48GOOGLALPHABET CLASS ACOM0.61%$5M40.8K
49SNOWSNOWFLAKE CLASS ACOM0.61%$5M34.7K
50SCHWCHARLES SCHWABCOM0.60%$5M95.2K
51WYNNWYNN RESORTS LTDCOM0.58%$5M54.7K
52XLKTECHNOLOGYCOM0.57%$5M30.4K
53PFEPFIZER INCCOM0.54%$5M141.0K
54KRESPDR S&P REGIONAL BANKINGCOM0.49%$4M102.7K
55MOALTRIA GROUP INCCOM0.46%$4M95.4K
56QQQINVESCO QQQCOM0.46%$4M11.1K
57AXPAMERICAN EXPRESSCOM0.39%$3M23.0K
58FREEPORT MCMORANCOM0.36%$3M85.0K
59WDAYWORKDAY INCCOM0.34%$3M13.8K
60COSTCOSTCO WHOLESALECOM0.31%$3M4.8K
61SPGSIMON PPTY GRP INCCOM0.30%$3M24.1K
62XLVHEALTH CARECOM0.29%$3M19.4K
63EXMOCEXXON MOBIL CORPCOM0.28%$2M20.8K
64XLIINDUSTRIALSCOM0.28%$2M23.9K
65SLBSCHLUMBERGERCOM0.26%$2M39.0K
66CRWDCROWDSTRIKE HOLDINGSCOM0.24%$2M12.7K
67RTXRAYTHEONCOM0.17%$1M19.9K
68IBBBIOTECHNOLOGYCOM0.15%$1M10.9K
69ALLIANCE RES PTNRSCOM0.15%$1M57.0K
70MMM3M COMPANYCOM0.14%$1M13.1K
71EPDENTERPRISE PRODSCOM0.13%$1M41.2K
72TSLATESLA MOTORSCOM0.13%$1M4.4K
73GDGENERAL DYNAMICSCOM0.12%$1M4.6K
74XLYCONSUMER DISCRCOM0.11%$985,0006.1K
75STWDSTARWOOD PROPCOM0.11%$973,00050.3K
76AONAON PLCCOM0.11%$973,0003.0K
77SONYSONY CORPCOM0.11%$915,00011.1K
78XLBMATERIALSCOM0.10%$886,00011.3K
79SBUXSTARBUCKS CORPCOM0.10%$852,0009.3K
80CLXCLOROX COMPANYCOM0.09%$786,0006.0K
81TUTELUS CORPCOM0.09%$781,00047.8K
82LENDINGCLUB CORPCOM0.09%$774,000127.0K
83CPTCAMDEN PROPERTYCOM0.09%$748,0007.9K
84AVBAVALONBAYCOM0.08%$719,0004.2K
85HP INC.COM0.08%$658,00025.6K
86CICIGNA CORPCOM0.07%$572,0002.0K
87VFIAXVANGUARD 500 INDEXCOM0.07%$567,0001.4K
88METAMETA PLATFORMSCOM0.06%$540,0001.8K
89DVYSELECT DIVIDENDCOM0.06%$529,0004.9K
90VZVERIZON COMMCOM0.06%$524,00016.2K
91UNHUNITEDHEALTH GROUPCOM0.05%$446,000885
92HPEHEWLETT-PACKARDCOM0.05%$445,00025.6K
93DRIVGLOBAL X ELECTRIC VEHICLESCOM0.05%$436,00018.6K
94DIASPDR DOW JONES INDCOM0.05%$428,0001.3K
95JOETVIRTUS TERRANOVACOM0.05%$424,00015.2K
96BENFRANKLIN RESCOM0.05%$413,00016.8K
97FINANCIALCOM0.05%$408,00012.3K
98IGMEXPANDED TECHCOM0.04%$354,000926
99XLCCOMM SERVICESCOM0.04%$317,0004.8K
100OKEONEOK INCCOM0.04%$309,0004.9K

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 ↗.