SEC 13F Intelligence

Managers / Q3 2019 · view latest →

Gifford Fong Associates

CIK 0001740316 · 3658 MT. DIABLO BLVD, SUITE 200, LAFAYETTE, CA, 94549 · 9252997800

Reported Value
$306M
Q3 2019
Positions
124
Filings on Record
29
2019–present window
Filed
Nov 13, 2019
original filing

Summary

Gifford Fong Associates reported $306M in U.S.-listed holdings across 124 positions for Q3 2019.

Its largest position, AMZN, represents 8.6% of the portfolio.

Compared with Q2 2019, the fund opened 4 new positions and exited 1.

Portfolio Metrics

Turnover
+7.4%
vs prior filed quarter
Top-10 Concentration
+40.5%
share of reported value
Largest Position
+8.6%
Amazon Com
New / Exited
4 / 1
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: $265MQ4 ’18Q1 ’19: $303MQ2 ’19: $299MQ3 ’19: $306MQ4 ’19: $343MQ4 ’19Q1 ’20: $273MQ2 ’20: $330MQ3 ’20: $373MQ1 ’21: $465MQ1 ’21Q2 ’21: $514MQ3 ’21: $515MQ4 ’21: $572MQ1 ’22: $547MQ1 ’22Q2 ’22: $429MQ3 ’22: $404MQ4 ’22: $436MQ1 ’23: $380MQ1 ’23Q2 ’23: $426MQ3 ’23: $418MQ4 ’23: $470MQ1 ’24: $363MQ1 ’24Q2 ’24: $377MQ3 ’24: $400MQ4 ’24: $408MQ1 ’25: $402MQ1 ’25Q2 ’25: $434MQ3 ’25: $476MQ4 ’25: $501Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 98.3%Other: 1.0%REIT: 0.8%
  • Common Stock · 98.3% · $300M
  • Other · 1.0% · $3M
  • REIT · 0.8% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CRMSALESFORCE COM INCNEW+10.0K10.0K+$1M$1M
WBAWALGREENS BOOTS ALLIANCE INCNEW+10.0K10.0K+$553,000$553,000
CIENCIENA CORPNEW+12.3K12.3K+$481,000$481,000
GLGLOBE LIFE INCNEW+4.5K4.5K+$431,000$431,000
APACHE CORPADDED+50.0K75.0K+$1M$2M
NVDANVIDIA CORPADDED+50.0K93.1K+$9M$16M
AMDADVANCED MICRO DEVICES INCADDED+79.6K154.6K+$2M$4M
TMKTORCHMARK CORPSOLD OUT−4.5K0−$403,000$0

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

Holdings — Q3 2019

122 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AMZNAMAZON COM INChistory →COM8.62%$26M15.2K
2NVDANVIDIA CORPhistory →COM5.30%$16M93.1K
3BACBANK AMER CORPhistory →COM5.29%$16M554.6K
4DISDISNEY WALT COhistory →COM DISNEY3.84%$12M90.0K
5GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.79%$12M9.5K
6MSFTMICROSOFT CORPhistory →COM3.18%$10M70.0K
7MAMASTERCARD INCORPORATEDhistory →CL A3.02%$9M34.0K
8AAPLAPPLE INChistory →COM2.86%$9M39.0K
9BABOEING COhistory →COM2.33%$7M18.7K
10JPMJPMORGAN CHASE & COhistory →COM2.26%$7M58.8K
11METAFACEBOOK INChistory →CL A2.18%$7M37.5K
12MARATHON OIL CORPCOM2.07%$6M516.3K
13BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.80%$6M26.5K
14VVISA INChistory →COM CL A1.68%$5M29.8K
15SYFSYNCHRONY FINLhistory →COM1.47%$5M132.1K
16PFEPFIZER INChistory →COM1.47%$4M124.7K
17AMDADVANCED MICRO DEVICES INChistory →COM1.47%$4M154.6K
18WFCWELLS FARGO CO NEWhistory →COM1.45%$4M88.1K
19AMGNAMGEN INChistory →COM1.43%$4M22.7K
20WMTWALMART INChistory →COM1.41%$4M36.4K
21INTCINTEL CORPhistory →COM1.39%$4M82.6K
22CCITIGROUP INChistory →COM NEW1.39%$4M61.5K
23CMCSACOMCAST CORP NEWhistory →CL A1.30%$4M88.0K
24ORCLORACLE CORPhistory →COM1.24%$4M69.0K
25JNJJOHNSON & JOHNSONhistory →COM1.22%$4M28.9K
26UNPUNION PAC CORPhistory →COM1.22%$4M23.0K
27EMREMERSON ELEC COhistory →COM1.09%$3M50.0K
28GENERAL ELECTRIC COCOM0.98%$3M336.3K
29MUMICRON TECHNOLOGY INCCOM0.98%$3M69.8K
30FFORD MTR CO DELCOM0.97%$3M325.0K
31PNWPINNACLE WEST CAP CORPCOM0.95%$3M30.0K
32UNITED STATES STL CORP NEWCOM0.90%$3M237.7K
33CVXCHEVRON CORP NEWCOM0.86%$3M22.2K
34BAXBAXTER INTL INCCOM0.83%$3M29.0K
35HONHONEYWELL INTL INCCOM0.78%$2M14.1K
36PBIPITNEY BOWES INCCOM0.76%$2M511.1K
37BHCBAUSCH HEALTH COS INCCOM0.71%$2M100.0K
38GILDGILEAD SCIENCES INCCOM0.70%$2M34.0K
39ABBVABBVIE INCCOM0.69%$2M27.9K
40EXMOCEXXON MOBIL CORPCOM0.68%$2M29.5K
41KOCOCA COLA COCOM0.66%$2M37.0K
42APACHE CORPCOM0.63%$2M75.0K
43SBUXSTARBUCKS CORPCOM0.61%$2M21.0K
44VZVERIZON COMMUNICATIONS INCCOM0.61%$2M30.7K
45BMYBRISTOL MYERS SQUIBB COCOM0.60%$2M35.9K
46LLYLILLY ELI & COCOM0.59%$2M16.1K
47PEPPEPSICO INCCOM0.58%$2M13.0K
48IBMINTERNATIONAL BUSINESS MACHSCOM0.57%$2M11.9K
49LOWLOWES COS INCCOM0.55%$2M15.3K
50GSGOLDMAN SACHS GROUP INCCOM0.54%$2M8.0K
51ABTABBOTT LABSCOM0.53%$2M19.4K
52ADPAUTOMATIC DATA PROCESSING INCOM0.53%$2M10.0K
53MMM3M COCOM0.52%$2M9.8K
54ALLALLSTATE CORPCOM0.49%$2M13.8K
55CRMSALESFORCE COM INCCOM0.49%$1M10.0K
56TJXTJX COS INC NEWCOM0.47%$1M26.0K
57UPSUNITED PARCEL SERVICE INCCL B0.46%$1M11.8K
58NKENIKE INCCL B0.46%$1M15.0K
59PNCPNC FINL SVCS GROUP INCCOM0.46%$1M10.0K
60UTXZUNITED TECHNOLOGIES CORPCOM0.45%$1M10.0K
61CSCOCISCO SYS INCCOM0.43%$1M26.5K
62AXPAMERICAN EXPRESS COCOM0.43%$1M11.0K
63QCOMQUALCOMM INCCOM0.42%$1M17.0K
64MSMORGAN STANLEYCOM NEW0.42%$1M30.0K
65PMPHILIP MORRIS INTL INCCOM0.41%$1M16.7K
66SVB FINL GROUPCOM0.41%$1M6.0K
67PSAPUBLIC STORAGECOM0.40%$1M5.0K
68TAT&T INCCOM0.40%$1M32.2K
69PRUPRUDENTIAL FINL INCCOM0.40%$1M13.5K
70COSTCOSTCO WHSL CORP NEWCOM0.40%$1M4.2K
71AIGAMERICAN INTL GROUP INCCOM NEW · *W EXP 01/19/2020.39%$1M27.6K
72SPGSIMON PPTY GROUP INC NEWCOM0.36%$1M7.0K
73AFLAFLAC INCCOM0.35%$1M20.6K
74TRVTRAVELERS COMPANIES INCCOM0.34%$1M7.0K
75TXNTEXAS INSTRS INCCOM0.34%$1M8.0K
76DEDEERE & COCOM0.33%$995,0005.9K
77CATCATERPILLAR INC DELCOM0.32%$985,0007.8K
78COPCONOCOPHILLIPSCOM0.30%$912,00016.0K
79HRLHORMEL FOODS CORPCOM0.29%$875,00020.0K
80BNYBANK NEW YORK MELLON CORPCOM0.28%$853,00018.9K
81CLCOLGATE PALMOLIVE COCOM0.25%$765,00010.4K
82METMETLIFE INCCOM0.23%$707,00015.0K
83DDDUPONT DE NEMOURS INCCOM0.23%$701,0009.8K
84RIGTRANSOCEAN LTDREG SHS0.22%$671,000150.0K
85USBUS BANCORP DELCOM NEW0.22%$664,00012.0K
86HSYHERSHEY COCOM0.20%$620,0004.0K
87LNCLINCOLN NATL CORP INDCOM0.20%$603,00010.0K
88WBAWALGREENS BOOTS ALLIANCE INCCOM0.18%$553,00010.0K
89SHWSHERWIN WILLIAMS COCOM0.18%$550,0001.0K
90KEYKEYCORP NEWCOM0.17%$535,00030.0K
91CIENCIENA CORPCOM NEW0.16%$481,00012.3K
92XILINX INCCOM0.16%$480,0005.0K
93DOWDOW INCCOM0.15%$468,0009.8K
94PHPARKER HANNIFIN CORPCOM0.15%$452,0002.5K
95EVEUREATON VANCE CORPCOM NON VTG0.15%$449,00010.0K
96ADIANALOG DEVICES INCCOM0.15%$447,0004.0K
97EOGEOG RES INCCOM0.15%$445,0006.0K
98OXYOCCIDENTAL PETE CORP DELCOM0.15%$445,00010.0K
99UNHUNITED HEALTH GROUP INCCOM0.14%$435,0002.0K
100SWKSTANLEY BLACK & DECKER INCCOM0.14%$433,0003.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q4 2025$501M124Feb 10, 202613F-HRchanges · EDGAR ↗
Q3 2025$476M122Nov 3, 202513F-HRchanges · EDGAR ↗
Q2 2025$434M123Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$402M126May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$408M126Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$400M128Nov 4, 202413F-HRchanges · EDGAR ↗
Q2 2024$377M128Aug 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$363M127May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$470M140Feb 7, 202413F-HRchanges · EDGAR ↗
Q3 2023$418M141Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$426M141Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$380M141May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$436M139Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$404M140Nov 15, 202213F-HRchanges · EDGAR ↗
Q2 2022$429M139Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$547M138May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$572M139Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$515M136Nov 10, 202113F-HRchanges · EDGAR ↗
Q2 2021$514M135Aug 9, 202113F-HRchanges · EDGAR ↗
Q1 2021$465M135May 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$373M132Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$330M129Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$273M127May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$343M125Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$306M124Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$299M121Aug 8, 201913F-HRchanges · EDGAR ↗
Q1 2019$303M119May 7, 201913F-HRchanges · EDGAR ↗
Q4 2018$265M118Jan 30, 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 ↗.