SEC 13F Intelligence

Managers / Q2 2021 · view latest →

Gifford Fong Associates

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

Reported Value
$514M
Q2 2021
Positions
135
Filings on Record
29
2019–present window
Filed
Aug 9, 2021
original filing

Summary

Gifford Fong Associates reported $514M in U.S.-listed holdings across 135 positions for Q2 2021.

Its largest position, NVDA, represents 7.5% of the portfolio.

Compared with Q1 2021, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+1.4%
vs prior filed quarter
Top-10 Concentration
+45.7%
share of reported value
Largest Position
+7.5%
Nvidia
New / Exited
1 / 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: 98.6%Other: 0.9%REIT: 0.5%Equity WRT: 0.0%
  • Common Stock · 98.6% · $507M
  • Other · 0.9% · $5M
  • REIT · 0.5% · $2M
  • Equity WRT · 0.0% · $17,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
OGNORGANON & CONEW+2.3K2.3K+$69,000$69,000
SHWSHERWIN WILLIAMS COADDED+2.0K3.0K+$79,000$817,000
BENFRANKLIN RES INCSOLD OUT−120.4K0−$4M$0
VZVERIZON COMMUNICATIONS INCADDED+25.0K55.7K+$1M$3M
FFORD MTR CO DELADDED+150.0K475.0K+$3M$7M
NVDANVIDIA CORPHELD+048.1K+$13M$39M
AAPLAPPLE INCHELD+0256.0K+$4M$35M
AMZNAMAZON COM INCHELD+010.7K+$4M$37M

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

Holdings — Q2 2021

133 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPhistory →COM7.49%$39M48.1K
2AMZNAMAZON COM INChistory →COM7.15%$37M10.7K
3AAPLAPPLE INChistory →COM6.82%$35M256.0K
4GOOGALPHABET INCCAP STK CL C · CAP STK CL A5.06%$26M10.5K
5MSFTMICROSOFT CORPhistory →COM4.64%$24M88.2K
6BACBANK AMER CORPhistory →COM4.45%$23M554.6K
7DISDISNEY WALT COhistory →COM DISNEY3.42%$18M100.0K
8MAMASTERCARD INCORPORATEDhistory →CL A2.41%$12M34.0K
9CRMSALESFORCE COM INChistory →COM2.26%$12M47.6K
10SHOPSHOPIFY INChistory →CL A1.99%$10M7.0K
11JPMJPMORGAN CHASE & COhistory →COM1.78%$9M58.8K
12UNHUNITED HEALTH GROUP INChistory →COM1.71%$9M22.0K
13AMDADVANCED MICRO DEVICES INChistory →COM1.45%$7M79.6K
14BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.43%$7M26.5K
15FFORD MTR CO DELhistory →COM1.37%$7M475.0K
16VVISA INChistory →COM CL A1.35%$7M29.8K
17SYFSYNCHRONY FINLhistory →COM1.25%$6M132.1K
18ZMZOOM VIDEO COMMUNICATIONS INhistory →CL A1.13%$6M15.0K
19UNITED STATES STL CORP NEWCOM1.11%$6M237.7K
20COSTCOSTCO WHSL CORP NEWhistory →COM1.09%$6M14.2K
21AMGNAMGEN INChistory →COM1.07%$6M22.7K
22ORCLORACLE CORPhistory →COM1.04%$5M69.0K
23FHNFIRST HORIZON NATL CORPhistory →COM1.01%$5M300.0K
24WMTWALMART INCCOM1.00%$5M36.4K
25UNPUNION PAC CORPCOM0.98%$5M23.0K
26CMCSACOMCAST CORP NEWCL A0.98%$5M88.0K
27IVZINVESCO LTDSHS0.96%$5M185.4K
28PFEPFIZER INCCOM0.95%$5M124.7K
29EMREMERSON ELEC COCOM0.94%$5M50.0K
30JNJJOHNSON & JOHNSONCOM0.93%$5M28.9K
31GENERAL ELECTRIC COCOM0.88%$5M336.3K
32PBIPITNEY BOWES INCCOM0.87%$4M511.1K
33BABOEING COCOM0.87%$4M18.7K
34CCITIGROUP INCCOM NEW0.85%$4M61.5K
35METAFACEBOOK INCCL A0.84%$4M12.5K
36TAT&T INCCOM0.80%$4M143.7K
37WFCWELLS FARGO CO NEWCOM0.78%$4M88.1K
38BIIBBIOGEN INCCOM0.77%$4M11.5K
39LLYLILLY ELI & COCOM0.72%$4M16.1K
40SVB FINL GROUPCOM0.65%$3M6.0K
41WBAWALGREENS BOOTS ALLIANCE INCCOM0.61%$3M60.0K
42ABBVABBVIE INCCOM0.61%$3M27.9K
43VZVERIZON COMMUNICATIONS INCCOM0.61%$3M55.7K
44HONHONEYWELL INTL INCCOM0.60%$3M14.1K
45GSGOLDMAN SACHS GROUP INCCOM0.59%$3M8.0K
46LOWLOWES COS INCCOM0.58%$3M15.3K
47BHCBAUSCH HEALTH COS INCCOM0.57%$3M100.0K
48MSMORGAN STANLEYCOM NEW0.53%$3M30.0K
49MARATHON OIL CORPCOM0.49%$3M184.7K
50PNWPINNACLE WEST CAP CORPCOM0.48%$2M30.0K
51UPSUNITED PARCEL SERVICE INCCL B0.48%$2M11.8K
52BMYBRISTOL MYERS SQUIBB COCOM0.47%$2M35.9K
53SBUXSTARBUCKS CORPCOM0.46%$2M21.0K
54GILDGILEAD SCIENCES INCCOM0.46%$2M34.0K
55BAXBAXTER INTL INCCOM0.45%$2M29.0K
56CVXCHEVRON CORP NEWCOM0.45%$2M22.2K
57NKENIKE INCCL B0.45%$2M15.0K
58ABTABBOTT LABSCOM0.44%$2M19.4K
59DEDEERE & COCOM0.40%$2M5.9K
60LUMNLUMEN TECHNOLOGIES INCCOM0.40%$2M150.0K
61KOCOCA COLA COCOM0.39%$2M37.0K
62ADPAUTOMATIC DATA PROCESSING INCOM0.39%$2M10.0K
63TSLATESLA INCCOM0.38%$2M2.9K
64MMM3M COCOM0.38%$2M9.8K
65PEPPEPSICO INCCOM0.37%$2M13.0K
66PNCPNC FINL SVCS GROUP INCCOM0.37%$2M10.0K
67EXMOCEXXON MOBIL CORPCOM0.36%$2M29.5K
68INTCINTEL CORPCOM0.36%$2M32.6K
69AXPAMERICAN EXPRESS COCOM0.35%$2M11.0K
70ALLALLSTATE CORPCOM0.35%$2M13.8K
71MRKMERCK & CO INCCOM0.35%$2M22.9K
72TJXTJX COS INC NEWCOM0.34%$2M26.0K
73IBMINTERNATIONAL BUSINESS MACHSCOM0.34%$2M11.9K
74TWITTER INCCOM0.33%$2M25.0K
75CATCATERPILLAR INC DELCOM0.33%$2M7.8K
76MUMICRON TECHNOLOGY INCCOM0.33%$2M19.8K
77PMPHILIP MORRIS INTL INCCOM0.32%$2M16.7K
78TXNTEXAS INSTRS INCCOM0.30%$2M8.0K
79PSAPUBLIC STORAGECOM0.29%$2M5.0K
80CSCOCISCO SYS INCCOM0.27%$1M26.5K
81PRUPRUDENTIAL FINL INCCOM0.27%$1M13.5K
82SPOTSPOTIFY TECHNOLOGY S ASHS0.27%$1M5.0K
83AFLAFLAC INCCOM0.21%$1M20.6K
84TRVTRAVELERS COMPANIES INCCOM0.20%$1M7.0K
85COPCONOCOPHILLIPSCOM0.19%$974,00016.0K
86BNYBANK NEW YORK MELLON CORPCOM0.19%$967,00018.9K
87HRLHORMEL FOODS CORPCOM0.19%$955,00020.0K
88SPGSIMON PPTY GROUP INC NEWCOM0.18%$913,0007.0K
89AIGAMERICAN INTL GROUP INCCOM NEW0.18%$909,00019.1K
90METMETLIFE INCCOM0.17%$898,00015.0K
91RTXRAYTHEON TECHNOLOGIES CORPCOM0.17%$853,00010.0K
92CLCOLGATE PALMOLIVE COCOM0.16%$846,00010.4K
93SHWSHERWIN WILLIAMS COCOM0.16%$817,0003.0K
94PHPARKER HANNIFIN CORPCOM0.15%$768,0002.5K
95XILINX INCCOM0.14%$723,0005.0K
96QCOMQUALCOMM INCCOM0.14%$715,0005.0K
97CIENCIENA CORPCOM NEW0.14%$697,00012.3K
98HSYHERSHEY COCOM0.14%$697,0004.0K
99DELLDELL TECHNOLOGIES INCCL C0.13%$692,0006.9K
100ADIANALOG DEVICES INCCOM0.13%$689,0004.0K

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 ↗.