SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Grassi Investment Management

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

Reported Value
$954M
Q4 2023
Positions
122
Filings on Record
28
2019–present window
Filed
Jan 10, 2024
original filing

Summary

Grassi Investment Management reported $954M in U.S.-listed holdings across 122 positions for Q4 2023.

Its largest position, NVDA, represents 14.2% of the portfolio.

Compared with Q3 2023, the fund opened 7 new positions and exited 8.

Portfolio Metrics

Turnover
+6.5%
vs prior filed quarter
Top-10 Concentration
+50.7%
share of reported value
Largest Position
+14.2%
Nvidia
New / Exited
7 / 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: 79.2%Other: 9.7%REIT: 6.5%ETP: 2.7%ADR: 1.7%Other: 0.2%
  • Common Stock · 79.2% · $756M
  • Other · 9.7% · $92M
  • REIT · 6.5% · $62M
  • ETP · 2.7% · $26M
  • ADR · 1.7% · $16M
  • Other · 0.2% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMERICAN BATTERY TECHNEW+474.2K474.2K+$2M$2M
IWMISHARES RUSSELL 2000NEW+5.4K5.4K+$1M$1M
DINOHF SINCLAIRNEW+5.9K5.9K+$328,000$328,000
UUNITY SOFTWARENEW+5.5K5.5K+$225,000$225,000
VWENXVANGUARD WELLINGTONNEW+3.0K3.0K+$212,000$212,000
DEDEERE & CONEW+525525+$210,000$210,000
MDYSPDR S P MIDCAPNEW+400400+$203,000$203,000
GDGENERAL DYNAMICSADDED+6.8K11.5K+$2M$3M

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

Holdings — Q4 2023

121 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPhistory →COM14.24%$136M274.3K
2AAPLAPPLE COMPUTERhistory →COM6.95%$66M344.2K
3MSFTMICROSOFT CORPhistory →COM6.36%$61M161.3K
4LLYLILLY, ELI & COhistory →COM4.84%$46M79.1K
5AMATAPPLIED MATERIALShistory →COM4.72%$45M277.6K
6PLDPROLOGIShistory →COM3.52%$34M252.1K
7BROADCOM LTDCOM3.07%$29M26.2K
8VISA INC CL ACOM2.77%$26M101.4K
9CATCATERPILLARhistory →COM2.13%$20M68.9K
10AMDADVANCED MICRO DEVhistory →COM2.10%$20M135.7K
11JPMJP MORGAN CHASEhistory →COM1.93%$18M108.0K
12ABBVABBVIE INC.history →COM1.67%$16M102.7K
13BLACKSTONECOM1.65%$16M120.2K
14PGPROCTER & GAMBLEhistory →COM1.60%$15M104.4K
15RIORIO TINTOhistory →COM1.60%$15M204.7K
16BACBANK OF AMERICAhistory →COM1.57%$15M446.0K
17BABOEINGhistory →COM1.42%$14M52.1K
18HONHONEYWELL INTLhistory →COM1.42%$14M64.5K
19HDHOME DEPOT INChistory →COM1.35%$13M37.2K
20UNPUNION PACIFIChistory →COM1.34%$13M52.0K
21ABTABBOTT LABS COMhistory →COM1.29%$12M111.8K
22AMTAMERICAN TOWERhistory →COM1.24%$12M54.6K
23LMTLOCKHEED MARTINhistory →COM1.23%$12M25.9K
24SNOWSNOWFLAKE CLASS Ahistory →COM1.20%$11M57.6K
25MERCK & CO INCCOM1.19%$11M104.5K
26STZCONSTELLATIONhistory →COM1.19%$11M47.1K
27MSMORGAN STANLEYhistory →COM1.19%$11M121.2K
28MARMARRIOTT INTLhistory →COM1.18%$11M50.0K
29JNJJOHN. & JOHN.history →COM1.14%$11M69.6K
30ORCLORACLE CORPhistory →COM1.11%$11M100.1K
31VMCVULCAN MATERIALShistory →COM1.07%$10M45.0K
32IBMIBM CORPORATIONhistory →COM1.03%$10M60.1K
33WFCWELLS FARGO & COhistory →COM1.00%$10M194.0K
34AMZNAMAZON.COMhistory →COM1.00%$10M62.8K
35CRMSALESFORCE.COMCOM0.93%$9M33.8K
36SCHWCHARLES SCHWABCOM0.91%$9M125.5K
37CVXCHEVRON CORPCOM0.88%$8M56.4K
38GOOGLALPHABET CLASS ACOM0.83%$8M56.8K
39DLRDIGITAL REALTY TRCOM0.80%$8M56.8K
40UBERUBER TECHNOLOGIESCOM0.73%$7M113.7K
41PEPPEPSICO INCCOM0.67%$6M37.8K
42NOWSERVICENOW, INCCOM0.67%$6M9.0K
43XLKTECHNOLOGYCOM0.62%$6M30.7K
44CMCSACOMCAST CL ACOM0.61%$6M133.4K
45BMYBRISTOL-MYERSCOM0.59%$6M108.9K
46WMTWAL-MART STORESCOM0.57%$5M34.7K
47QQQINVESCO QQQCOM0.49%$5M11.3K
48CRWDCROWDSTRIKE HOLDINGSCOM0.46%$4M17.2K
49AXPAMERICAN EXPRESSCOM0.45%$4M23.0K
50MOALTRIA GROUP INCCOM0.40%$4M95.4K
51WDAYWORKDAY INCCOM0.40%$4M13.8K
52FREEPORT MCMORANCOM0.37%$4M83.5K
53SPGSIMON PPTY GRP INCCOM0.35%$3M23.2K
54COSTCOSTCO WHOLESALECOM0.33%$3M4.8K
55GDGENERAL DYNAMICSCOM0.31%$3M11.5K
56XLIINDUSTRIALSCOM0.28%$3M23.6K
57XLVHEALTH CARECOM0.28%$3M19.5K
58CCICROWN CASTLE INT'LCOM0.25%$2M21.1K
59AMERICAN BATTERY TECHCOM0.23%$2M474.2K
60KRESPDR S&P REGIONALCOM0.22%$2M40.2K
61EXMOCEXXON MOBIL CORPCOM0.22%$2M20.8K
62DISDISNEY, WALT COCOM0.19%$2M19.7K
63IBBBIOTECHNOLOGYCOM0.15%$1M10.8K
64MMM3M COMPANYCOM0.15%$1M13.1K
65ALLIANCE RES PTNRSCOM0.13%$1M57.0K
66LENDINGCLUB CORPCOM0.13%$1M137.1K
67XLYCONSUMER DISCRCOM0.12%$1M6.2K
68TSLATESLA MOTORSCOM0.11%$1M4.4K
69IWMISHARES RUSSELL 2000COM0.11%$1M5.4K
70EPDENTERPRISE PRODSCOM0.11%$1M41.2K
71PFEPFIZER INCCOM0.11%$1M37.3K
72RCLROYAL CARIBBEANCOM0.11%$1M8.1K
73STWDSTARWOOD PROPCOM0.11%$1M49.1K
74SONYSONY CORPCOM0.10%$937,0009.9K
75SBUXSTARBUCKS CORPCOM0.09%$896,0009.3K
76AONAON PLCCOM0.09%$873,0003.0K
77CLXCLOROX COMPANYCOM0.09%$856,0006.0K
78TUTELUS CORPCOM0.09%$845,00047.5K
79XLBMATERIALSCOM0.09%$843,0009.9K
80CPTCAMDEN PROPERTYCOM0.08%$785,0007.9K
81HP INC.COM0.08%$770,00025.6K
82AVBAVALONBAYCOM0.08%$765,0004.1K
83METAMETA PLATFORMSCOM0.07%$637,0001.8K
84VFIAXVANGUARD 500 INDEXCOM0.07%$624,0001.4K
85RTXRAYTHEONCOM0.07%$622,0007.4K
86CICIGNA CORPCOM0.06%$599,0002.0K
87VZVERIZON COMMCOM0.06%$583,00015.5K
88GAPGAP INCCOM0.06%$556,00026.6K
89DVYSELECT DIVIDENDCOM0.06%$546,0004.7K
90BENFRANKLIN RESCOM0.05%$502,00016.8K
91DIASPDR DOW JONES INDCOM0.05%$482,0001.3K
92JOETVIRTUS TERRANOVACOM0.05%$470,00015.3K
93UNHUNITEDHEALTH GROUPCOM0.05%$466,000885
94DRIVGLOBAL X ELECTRIC VEHICLESCOM0.05%$460,00018.7K
95FINANCIALCOM0.05%$451,00012.0K
96ABNBAIRBNBCOM0.05%$438,0003.2K
97HPEHEWLETT-PACKARDCOM0.05%$435,00025.6K
98IGMEXPANDED TECHCOM0.04%$415,000926
99WYNNWYNN RESORTS LTDCOM0.04%$405,0004.4K
100OKEONEOK INCCOM0.04%$400,0005.7K

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 ↗.