SEC 13F Intelligence

Managers / Q2 2020 · view latest →

Gifford Fong Associates

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

Reported Value
$330M
Q2 2020
Positions
129
Filings on Record
29
2019–present window
Filed
Aug 14, 2020
original filing

Summary

Gifford Fong Associates reported $330M in U.S.-listed holdings across 129 positions for Q2 2020.

Its largest position, AMZN, represents 8.1% of the portfolio.

Compared with Q1 2020, the fund opened 4 new positions and exited 2.

Portfolio Metrics

Turnover
+2.0%
vs prior filed quarter
Top-10 Concentration
+45.3%
share of reported value
Largest Position
+8.1%
Amazon Com
New / Exited
4 / 2
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: 98.9%Other: 0.7%REIT: 0.4%
  • Common Stock · 98.9% · $326M
  • Other · 0.7% · $2M
  • REIT · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RTXRAYTHEON TECHNOLOGIES CORPNEW+10.0K10.0K+$616,000$616,000
FHNFIRST HORIZON NATL CORPNEW+50.0K50.0K+$498,000$498,000
OTISOTIS WORLDWIDE CORPNEW+5.0K5.0K+$284,000$284,000
CARRCARRIER GLOBAL CORPORATIONNEW+10.0K10.0K+$222,000$222,000
UNHUNITED HEALTH GROUP INCADDED+20.0K22.0K+$6M$6M
MRKMERCK & CO INCADDED+20.0K22.9K+$2M$2M
QCOMQUALCOMM INCADDED+10.0K17.0K+$1M$2M
UTXZUNITED TECHNOLOGIES CORPSOLD OUT−10.0K0−$943,000$0

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

Holdings — Q2 2020

127 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AMZNAMAZON COM INChistory →COM8.09%$27M9.7K
2AAPLAPPLE INChistory →COM7.07%$23M64.0K
3NVDANVIDIA CORPhistory →COM6.12%$20M53.1K
4MSFTMICROSOFT CORPhistory →COM5.44%$18M88.2K
5GOOGALPHABET INCCAP STK CL C · CAP STK CL A4.51%$15M10.5K
6BACBANK AMER CORPhistory →COM3.99%$13M554.6K
7DISDISNEY WALT COhistory →COM DISNEY3.38%$11M100.0K
8MAMASTERCARD INCORPORATEDhistory →CL A3.05%$10M34.0K
9UNHUNITED HEALTH GROUP INChistory →COM1.97%$6M22.0K
10VVISA INChistory →COM CL A1.74%$6M29.8K
11CRMSALESFORCE COM INChistory →COM1.70%$6M30.0K
12JPMJPMORGAN CHASE & COhistory →COM1.68%$6M58.8K
13AMDADVANCED MICRO DEVICES INChistory →COM1.67%$6M104.6K
14TSLATESLA INChistory →COM1.64%$5M5.0K
15AMGNAMGEN INChistory →COM1.62%$5M22.7K
16INTCINTEL CORPhistory →COM1.50%$5M82.6K
17BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.43%$5M26.5K
18WMTWALMART INChistory →COM1.32%$4M36.4K
19COSTCOSTCO WHSL CORP NEWhistory →COM1.30%$4M14.2K
20PFEPFIZER INChistory →COM1.24%$4M124.7K
21JNJJOHNSON & JOHNSONhistory →COM1.23%$4M28.9K
22UNPUNION PAC CORPhistory →COM1.18%$4M23.0K
23ORCLORACLE CORPhistory →COM1.16%$4M69.0K
24BABOEING COhistory →COM1.04%$3M18.7K
25CMCSACOMCAST CORP NEWhistory →CL A1.04%$3M88.0K
26CCITIGROUP INCCOM NEW0.95%$3M61.5K
27EMREMERSON ELEC COCOM0.94%$3M50.0K
28BIIBBIOGEN INCCOM0.93%$3M11.5K
29SYFSYNCHRONY FINLCOM0.89%$3M132.1K
30METAFACEBOOK INCCL A0.86%$3M12.5K
31ABBVABBVIE INCCOM0.83%$3M27.9K
32LLYLILLY ELI & COCOM0.80%$3M16.1K
33GILDGILEAD SCIENCES INCCOM0.79%$3M34.0K
34WBAWALGREENS BOOTS ALLIANCE INCCOM0.77%$3M60.0K
35BAXBAXTER INTL INCCOM0.76%$2M29.0K
36MUMICRON TECHNOLOGY INCCOM0.70%$2M44.8K
37GENERAL ELECTRIC COCOM0.70%$2M336.3K
38WFCWELLS FARGO CO NEWCOM0.68%$2M88.1K
39PNWPINNACLE WEST CAP CORPCOM0.67%$2M30.0K
40BMYBRISTOL MYERS SQUIBB COCOM0.64%$2M35.9K
41LOWLOWES COS INCCOM0.63%$2M15.3K
42HONHONEYWELL INTL INCCOM0.62%$2M14.1K
43CVXCHEVRON CORP NEWCOM0.60%$2M22.2K
44FFORD MTR CO DELCOM0.60%$2M325.0K
45BHCBAUSCH HEALTH COS INCCOM0.55%$2M100.0K
46ABTABBOTT LABSCOM0.54%$2M19.4K
47MRKMERCK & CO INCCOM0.54%$2M22.9K
48TAT&T INCCOM0.52%$2M57.2K
49PEPPEPSICO INCCOM0.52%$2M13.0K
50UNITED STATES STL CORP NEWCOM0.52%$2M237.7K
51VZVERIZON COMMUNICATIONS INCCOM0.51%$2M30.7K
52KOCOCA COLA COCOM0.50%$2M37.0K
53GSGOLDMAN SACHS GROUP INCCOM0.48%$2M8.0K
54QCOMQUALCOMM INCCOM0.47%$2M17.0K
55SBUXSTARBUCKS CORPCOM0.47%$2M21.0K
56MMM3M COCOM0.46%$2M9.8K
57ADPAUTOMATIC DATA PROCESSING INCOM0.45%$1M10.0K
58NKENIKE INCCL B0.45%$1M15.0K
59MSMORGAN STANLEYCOM NEW0.44%$1M30.0K
60IBMINTERNATIONAL BUSINESS MACHSCOM0.44%$1M11.9K
61ALLALLSTATE CORPCOM0.41%$1M13.8K
62PBIPITNEY BOWES INCCOM0.40%$1M511.1K
63EXMOCEXXON MOBIL CORPCOM0.40%$1M29.5K
64TJXTJX COS INC NEWCOM0.40%$1M26.0K
65UPSUNITED PARCEL SERVICE INCCL B0.40%$1M11.8K
66SVB FINL GROUPCOM0.39%$1M6.0K
67CSCOCISCO SYS INCCOM0.38%$1M26.5K
68BENFRANKLIN RES INCCOM0.37%$1M58.3K
69PMPHILIP MORRIS INTL INCCOM0.35%$1M16.7K
70MARATHON OIL CORPCOM0.34%$1M184.7K
71PNCPNC FINL SVCS GROUP INCCOM0.32%$1M10.0K
72AXPAMERICAN EXPRESS COCOM0.32%$1M11.0K
73TXNTEXAS INSTRS INCCOM0.31%$1M8.0K
74CATCATERPILLAR INC DELCOM0.30%$987,0007.8K
75HRLHORMEL FOODS CORPCOM0.29%$965,00020.0K
76PSAPUBLIC STORAGECOM0.29%$959,0005.0K
77DEDEERE & COCOM0.28%$927,0005.9K
78PRUPRUDENTIAL FINL INCCOM0.25%$822,00013.5K
79TRVTRAVELERS COMPANIES INCCOM0.24%$798,0007.0K
80CLCOLGATE PALMOLIVE COCOM0.23%$762,00010.4K
81TWITTER INCCOM0.23%$745,00025.0K
82AFLAFLAC INCCOM0.22%$742,00020.6K
83BNYBANK NEW YORK MELLON CORPCOM0.22%$729,00018.9K
84COPCONOCOPHILLIPSCOM0.20%$672,00016.0K
85CIENCIENA CORPCOM NEW0.20%$664,00012.3K
86RTXRAYTHEON TECHNOLOGIES CORPCOM0.19%$616,00010.0K
87AIGAMERICAN INTL GROUP INCCOM NEW · *W EXP 01/19/2020.18%$608,00027.6K
88SHWSHERWIN WILLIAMS COCOM0.18%$578,0001.0K
89METMETLIFE INCCOM0.17%$548,00015.0K
90DDDUPONT DE NEMOURS INCCOM0.16%$522,0009.8K
91HSYHERSHEY COCOM0.16%$518,0004.0K
92FHNFIRST HORIZON NATL CORPCOM0.15%$498,00050.0K
93XILINX INCCOM0.15%$492,0005.0K
94ADIANALOG DEVICES INCCOM0.15%$491,0004.0K
95SPGSIMON PPTY GROUP INC NEWCOM0.15%$479,0007.0K
96PHPARKER HANNIFIN CORPCOM0.14%$458,0002.5K
97USBUS BANCORP DELCOM NEW0.13%$442,00012.0K
98DEUTSCHE BANK AGNAMEN AKT0.13%$428,00045.0K
99SWKSTANLEY BLACK & DECKER INCCOM0.13%$418,0003.0K
100PGRPROGRESSIVE CORP OHIOCOM0.12%$401,0005.0K

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 ↗.