SEC 13F Intelligence

Managers / Q4 2024 · view latest →

Grassi Investment Management

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

Reported Value
$1.2B
Q4 2024
Positions
130
Filings on Record
28
2019–present window
Filed
Jan 21, 2025
amendment (RESTATEMENT)

Summary

Grassi Investment Management reported $1.2B in U.S.-listed holdings across 130 positions for Q4 2024.

Its largest position, NVDA, represents 19.1% of the portfolio.

Compared with Q3 2024, the fund opened 8 new positions and exited 6.

Portfolio Metrics

Turnover
+5.4%
vs prior filed quarter
Top-10 Concentration
+55.6%
share of reported value
Largest Position
+19.1%
Nvidia
New / Exited
8 / 6
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: 80.5%Other: 11.3%REIT: 4.5%ETP: 2.4%ADR: 1.0%Other: 0.3%
  • Common Stock · 80.5% · $944M
  • Other · 11.3% · $132M
  • REIT · 4.5% · $53M
  • ETP · 2.4% · $28M
  • ADR · 1.0% · $12M
  • Other · 0.3% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VRTVERTIV HOLDINGSNEW+12.2K12.2K+$1M$1M
VSTVISTRA CORPNEW+2.8K2.8K+$383,000$383,000
CRWDCROWDSTRIKE HLDGSNEW+700700+$240,000$240,000
RHRHNEW+600600+$236,000$236,000
ADPAUTOMATIC DATANEW+776776+$227,000$227,000
NVONOVO-NORISK A/S ADRNEW+2.5K2.5K+$215,000$215,000
FBGRXFIDELITY BLUE CHIPNEW+897897+$204,000$204,000
CALIDI BIOTHERAPEUTICNEW+10.0K10.0K+$11,000$11,000

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

Holdings — Q4 2024

129 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPhistory →COM19.06%$223M1.66M
2AAPLAPPLE COMPUTERhistory →COM7.13%$84M333.5K
3MSFTMICROSOFT CORPhistory →COM5.81%$68M161.6K
4BROADCOM LTDCOM5.39%$63M272.4K
5LLYLILLY, ELI & COhistory →COM5.24%$61M79.5K
6AMATAPPLIED MATERIALShistory →COM3.82%$45M275.1K
7VISA INC CL ACOM2.68%$31M99.3K
8PLDPROLOGIShistory →COM2.29%$27M254.3K
9JPMJP MORGAN CHASEhistory →COM2.16%$25M105.6K
10CATCATERPILLARhistory →COM2.07%$24M67.0K
11BLACKSTONECOM1.69%$20M114.6K
12BACBANK OF AMERICAhistory →COM1.60%$19M426.8K
13PGPROCTER & GAMBLEhistory →COM1.49%$18M104.4K
14ABBVABBVIE INC.history →COM1.48%$17M97.9K
15AMDADVANCED MICRO DEVhistory →COM1.45%$17M141.1K
16ORCLORACLE CORPhistory →COM1.40%$16M98.4K
17AMZNAMAZON.COMhistory →COM1.31%$15M69.9K
18MSMORGAN STANLEYhistory →COM1.30%$15M120.8K
19MARMARRIOTT INTLhistory →COM1.19%$14M50.0K
20HDHOME DEPOT INChistory →COM1.19%$14M35.8K
21ABTABBOTT LABS COMhistory →COM1.19%$14M123.1K
22HONHONEYWELL INTLhistory →COM1.16%$14M60.2K
23WFCWELLS FARGO & COhistory →COM1.12%$13M186.6K
24IBMIBM CORPORATIONhistory →COM1.10%$13M58.6K
25LMTLOCKHEED MARTINhistory →COM1.07%$13M25.8K
26SNOWSNOWFLAKE CLASS Ahistory →COM1.04%$12M78.7K
27RIORIO TINTOhistory →COM0.99%$12M197.0K
28VMCVULCAN MATERIALShistory →COM0.99%$12M45.0K
29UNPUNION PACIFIChistory →COM0.97%$11M50.0K
30NOWSERVICENOW, INChistory →COM0.97%$11M10.7K
31GOOGLALPHABET CLASS ACOM0.96%$11M59.4K
32CRMSALESFORCE.COMhistory →COM0.92%$11M32.2K
33MERCK & CO INCCOM0.88%$10M103.7K
34STZCONSTELLATIONhistory →COM0.86%$10M45.9K
35DLRDIGITAL REALTY TRCOM0.82%$10M54.3K
36AMTAMERICAN TOWERCOM0.80%$9M50.9K
37WMTWAL-MART STORESCOM0.78%$9M101.7K
38SCHWCHARLES SCHWABCOM0.75%$9M118.7K
39JNJJOHN. & JOHN.COM0.72%$8M58.6K
40CVXCHEVRON CORPCOM0.69%$8M56.0K
41BABOEINGCOM0.62%$7M40.8K
42XLKTECHNOLOGYCOM0.60%$7M30.2K
43AXPAMERICAN EXPRESSCOM0.57%$7M22.5K
44DISDISNEY, WALT COCOM0.56%$7M59.3K
45BMYBRISTOL-MYERSCOM0.52%$6M108.4K
46UBERUBER TECHNOLOGIESCOM0.50%$6M97.9K
47QQQINVESCO QQQCOM0.49%$6M11.2K
48PEPPEPSICO INCCOM0.48%$6M37.2K
49CMCSACOMCAST CL ACOM0.43%$5M133.4K
50MOALTRIA GROUP INCCOM0.41%$5M92.8K
51COSTCOSTCO WHOLESALECOM0.40%$5M5.2K
52SPGSIMON PPTY GRP INCCOM0.32%$4M22.0K
53SHOPSHOPIFY INCCOM0.32%$4M35.0K
54WDAYWORKDAY INCCOM0.30%$3M13.4K
55BSXBOSTON SCIENTIFICCOM0.29%$3M38.6K
56XLIINDUSTRIALSCOM0.26%$3M23.0K
57GDGENERAL DYNAMICSCOM0.25%$3M11.3K
58DELL INCCOM0.23%$3M23.2K
59XLVHEALTH CARECOM0.22%$3M19.2K
60EXMOCEXXON MOBIL CORPCOM0.19%$2M20.8K
61MMM3M COMPANYCOM0.14%$2M13.1K
62TSLATESLA MOTORSCOM0.13%$2M3.8K
63PANWPALO ALTO NETWORKSCOM0.12%$1M7.9K
64IWMISHARES RUSSELL 2000COM0.12%$1M6.4K
65VRTVERTIV HOLDINGSCOM0.12%$1M12.2K
66ALLIANCE RES PTNRSCOM0.12%$1M52.0K
67XLYCONSUMER DISCRCOM0.11%$1M6.0K
68RCLROYAL CARIBBEANCOM0.11%$1M5.5K
69AMGNAMGEN INCCOM0.10%$1M4.6K
70EPDENTERPRISE PRODSCOM0.10%$1M38.2K
71DRAFTKINGSCOM0.09%$1M29.5K
72CCICROWN CASTLE INT'LCOM0.08%$989,00010.9K
73CLXCLOROX COMPANYCOM0.08%$974,0006.0K
74PFEPFIZER INCCOM0.08%$959,00036.2K
75METAMETA PLATFORMSCOM0.08%$902,0001.5K
76RTXRAYTHEONCOM0.07%$855,0007.4K
77HP INC.COM0.07%$835,00025.6K
78AIQGLOBAL X AI & TECHCOM0.07%$814,00021.1K
79XLBMATERIALSCOM0.07%$806,0009.6K
80LENDINGCLUB CORPCOM0.07%$787,00048.6K
81AVBAVALONBAYCOM0.06%$745,0003.4K
82CPTCAMDEN PROPERTYCOM0.06%$744,0006.4K
83STWDSTARWOOD PROPCOM0.06%$705,00037.2K
84IBBBIOTECHNOLOGYCOM0.06%$695,0005.3K
85VFIAXVANGUARD 500 INDEXCOM0.05%$633,0001.2K
86GAPGAP INCCOM0.05%$629,00026.6K
87JOETVIRTUS TERRANOVACOM0.05%$569,00015.1K
88CICIGNA CORPCOM0.05%$552,0002.0K
89FINANCIALCOM0.05%$550,00011.4K
90HPEHEWLETT-PACKARDCOM0.05%$547,00025.6K
91VZVERIZON COMMCOM0.05%$529,00013.2K
92XLCCOMM SERVICESCOM0.04%$509,0005.3K
93AONAON PLCCOM0.04%$503,0001.4K
94OKEONEOK INCCOM0.04%$502,0005.0K
95DIASPDR DOW JONES INDCOM0.04%$501,0001.2K
96KRESPDR S&P REGIONALCOM0.04%$471,0007.8K
97DVYSELECT DIVIDENDCOM0.04%$436,0003.3K
98IGMEXPANDED TECHCOM0.04%$434,0004.3K
99SONYSONY CORPCOM0.04%$423,00020.0K
100UNHUNITEDHEALTH GROUPCOM0.03%$397,000785

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 ↗.