SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Gifford Fong Associates

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

Reported Value
$515M
Q3 2021
Positions
136
Filings on Record
28
2019–present window
Filed
Nov 10, 2021
original filing

Summary

Gifford Fong Associates reported $515M in U.S.-listed holdings across 136 positions for Q3 2021.

Its largest position, NVDA, represents 7.8% of the portfolio.

Compared with Q2 2021, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+3.8%
vs prior filed quarter
Top-10 Concentration
+46.7%
share of reported value
Largest Position
+7.8%
Nvidia
New / Exited
2 / 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
Q1 ’19: $303MQ1 ’19Q2 ’19: $299MQ3 ’19: $306MQ4 ’19: $343MQ1 ’20: $273MQ1 ’20Q2 ’20: $330MQ3 ’20: $373MQ1 ’21: $465MQ2 ’21: $514MQ2 ’21Q3 ’21: $515MQ4 ’21: $572MQ1 ’22: $547MQ2 ’22: $429MQ2 ’22Q3 ’22: $404MQ4 ’22: $436MQ1 ’23: $380MQ2 ’23: $426MQ2 ’23Q3 ’23: $418MQ4 ’23: $470MQ1 ’24: $363MQ2 ’24: $377MQ2 ’24Q3 ’24: $400MQ4 ’24: $408MQ1 ’25: $402MQ2 ’25: $434MQ2 ’25Q3 ’25: $476MQ4 ’25: $501Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 99.5%REIT: 0.5%Equity WRT: 0.0%
  • Common Stock · 99.5% · $512M
  • REIT · 0.5% · $2M
  • Equity WRT · 0.0% · $15,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GENERAL ELECTRIC CONEW+42.0K42.0K+$4M$4M
BBBLACKBERRY LTDNEW+100.0K100.0K+$973,000$973,000
NVDANVIDIA CORPADDED+144.4K192.6K+$1M$40M
GENERAL ELECTRIC COSOLD OUT−336.3K0−$5M$0
VZVERIZON COMMUNICATIONS INCADDED+17.6K73.3K+$838,000$4M
AMDADVANCED MICRO DEVICES INCADDED+10.0K89.6K+$2M$9M
AMZNAMAZON COM INCHELD+50011.2K−$15,000$37M
ZMZOOM VIDEO COMMUNICATIONS INHELD+015.0K−$2M$4M

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

Holdings — Q3 2021

134 positions (from 136 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPhistory →COM7.75%$40M192.6K
2AMZNAMAZON COM INChistory →COM7.14%$37M11.2K
3AAPLAPPLE INChistory →COM7.04%$36M256.0K
4GOOGALPHABET INCCAP STK CL C · CAP STK CL A5.45%$28M10.5K
5MSFTMICROSOFT CORPhistory →COM4.83%$25M88.2K
6BACBANK AMER CORPhistory →COM4.57%$24M554.6K
7DISDISNEY WALT COhistory →COM DISNEY3.29%$17M100.0K
8CRMSALESFORCE COM INChistory →COM2.51%$13M47.6K
9MAMASTERCARD INCORPORATEDhistory →CL A2.30%$12M34.0K
10JPMJPMORGAN CHASE & COhistory →COM1.87%$10M58.8K
11SHOPSHOPIFY INChistory →CL A1.84%$9M7.0K
12AMDADVANCED MICRO DEVICES INChistory →COM1.79%$9M89.6K
13UNHUNITED HEALTH GROUP INChistory →COM1.67%$9M22.0K
14BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.41%$7M26.5K
15FFORD MTR CO DELhistory →COM1.31%$7M475.0K
16VVISA INChistory →COM CL A1.29%$7M29.8K
17SYFSYNCHRONY FINLhistory →COM1.25%$6M132.1K
18COSTCOSTCO WHSL CORP NEWhistory →COM1.24%$6M14.2K
19ORCLORACLE CORPhistory →COM1.17%$6M69.0K
20PFEPFIZER INChistory →COM1.04%$5M124.7K
21UNITED STATES STL CORP NEWCOM1.01%$5M237.7K
22WMTWALMART INCCOM0.99%$5M36.4K
23CMCSACOMCAST CORP NEWCL A0.96%$5M88.0K
24FHNFIRST HORIZON NATL CORPCOM0.95%$5M300.0K
25AMGNAMGEN INCCOM0.94%$5M22.7K
26EMREMERSON ELEC COCOM0.92%$5M50.0K
27JNJJOHNSON & JOHNSONCOM0.91%$5M28.9K
28UNPUNION PAC CORPCOM0.88%$5M23.0K
29IVZINVESCO LTDSHS0.87%$4M185.4K
30GENERAL ELECTRIC COCOM0.84%$4M42.0K
31CCITIGROUP INCCOM NEW0.84%$4M61.5K
32METAFACEBOOK INCCL A0.82%$4M12.5K
33BABOEING COCOM0.80%$4M18.7K
34WFCWELLS FARGO CO NEWCOM0.79%$4M88.1K
35VZVERIZON COMMUNICATIONS INCCOM0.77%$4M73.3K
36ZMZOOM VIDEO COMMUNICATIONS INCL A0.76%$4M15.0K
37SVB FINL GROUPCOM0.75%$4M6.0K
38TAT&T INCCOM0.75%$4M143.7K
39LLYLILLY ELI & COCOM0.72%$4M16.1K
40PBIPITNEY BOWES INCCOM0.72%$4M511.1K
41BIIBBIOGEN INCCOM0.63%$3M11.5K
42LOWLOWES COS INCCOM0.60%$3M15.3K
43GSGOLDMAN SACHS GROUP INCCOM0.59%$3M8.0K
44ABBVABBVIE INCCOM0.58%$3M27.9K
45HONHONEYWELL INTL INCCOM0.58%$3M14.1K
46MSMORGAN STANLEYCOM NEW0.57%$3M30.0K
47WBAWALGREENS BOOTS ALLIANCE INCCOM0.55%$3M60.0K
48BHCBAUSCH HEALTH COS INCCOM0.54%$3M100.0K
49MARATHON OIL CORPCOM0.49%$3M184.7K
50GILDGILEAD SCIENCES INCCOM0.46%$2M34.0K
51BAXBAXTER INTL INCCOM0.45%$2M29.0K
52SBUXSTARBUCKS CORPCOM0.45%$2M21.0K
53ABTABBOTT LABSCOM0.45%$2M19.4K
54CVXCHEVRON CORP NEWCOM0.44%$2M22.2K
55TSLATESLA INCCOM0.43%$2M2.9K
56NKENIKE INCCL B0.42%$2M15.0K
57PNWPINNACLE WEST CAP CORPCOM0.42%$2M30.0K
58UPSUNITED PARCEL SERVICE INCCL B0.42%$2M11.8K
59BMYBRISTOL MYERS SQUIBB COCOM0.41%$2M35.9K
60ADPAUTOMATIC DATA PROCESSING INCOM0.39%$2M10.0K
61DEDEERE & COCOM0.38%$2M5.9K
62PNCPNC FINL SVCS GROUP INCCOM0.38%$2M10.0K
63PEPPEPSICO INCCOM0.38%$2M13.0K
64KOCOCA COLA COCOM0.38%$2M37.0K
65LUMNLUMEN TECHNOLOGIES INCCOM0.36%$2M150.0K
66AXPAMERICAN EXPRESS COCOM0.36%$2M11.0K
67ALLALLSTATE CORPCOM0.34%$2M13.8K
68INTCINTEL CORPCOM0.34%$2M32.6K
69EXMOCEXXON MOBIL CORPCOM0.34%$2M29.5K
70MRKMERCK & CO INCCOM0.33%$2M22.9K
71TJXTJX COS INC NEWCOM0.33%$2M26.0K
72MMM3M COCOM0.33%$2M9.8K
73IBMINTERNATIONAL BUSINESS MACHSCOM0.32%$2M11.9K
74PMPHILIP MORRIS INTL INCCOM0.31%$2M16.7K
75TXNTEXAS INSTRS INCCOM0.30%$2M8.0K
76TWITTER INCCOM0.29%$2M25.0K
77CATCATERPILLAR INC DELCOM0.29%$1M7.8K
78PSAPUBLIC STORAGECOM0.29%$1M5.0K
79CSCOCISCO SYS INCCOM0.28%$1M26.5K
80PRUPRUDENTIAL FINL INCCOM0.28%$1M13.5K
81MUMICRON TECHNOLOGY INCCOM0.27%$1M19.8K
82SPOTSPOTIFY TECHNOLOGY S ASHS0.22%$1M5.0K
83COPCONOCOPHILLIPSCOM0.21%$1M16.0K
84AFLAFLAC INCCOM0.21%$1M20.6K
85TRVTRAVELERS COMPANIES INCCOM0.21%$1M7.0K
86AIGAMERICAN INTL GROUP INCCOM NEW0.20%$1M19.1K
87BNYBANK NEW YORK MELLON CORPCOM0.19%$978,00018.9K
88BBBLACKBERRY LTDCOM0.19%$973,000100.0K
89METMETLIFE INCCOM0.18%$926,00015.0K
90SPGSIMON PPTY GROUP INC NEWCOM0.18%$910,0007.0K
91RTXRAYTHEON TECHNOLOGIES CORPCOM0.17%$860,00010.0K
92SHWSHERWIN WILLIAMS COCOM0.16%$839,0003.0K
93HRLHORMEL FOODS CORPCOM0.16%$820,00020.0K
94CLCOLGATE PALMOLIVE COCOM0.15%$786,00010.4K
95XILINX INCCOM0.15%$755,0005.0K
96DELLDELL TECHNOLOGIES INCCL C0.14%$723,0006.9K
97USBUS BANCORP DELCOM NEW0.14%$713,00012.0K
98PHPARKER HANNIFIN CORPCOM0.14%$699,0002.5K
99LNCLINCOLN NATL CORP INDCOM0.13%$688,00010.0K
100HSYHERSHEY COCOM0.13%$677,0004.0K

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 ↗

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 ↗.