SEC 13F Intelligence

Managers / Q4 2022 · view latest →

Gifford Fong Associates

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

Reported Value
$436M
Q4 2022
Positions
139
Filings on Record
28
2019–present window
Filed
Feb 13, 2023
original filing

Summary

Gifford Fong Associates reported $436M in U.S.-listed holdings across 139 positions for Q4 2022.

Its largest position, AAPL, represents 7.6% of the portfolio.

Compared with Q3 2022, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+3.4%
vs prior filed quarter
Top-10 Concentration
+41.2%
share of reported value
Largest Position
+7.6%
Apple

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% · $434M
  • REIT · 0.5% · $2M
  • Equity WRT · 0.0% · $52,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
OXYOCCIDENTAL PETE CORP DELADDED+15.2K25.2K+$971,000$2M
TWITTER INCSOLD OUT−25.0K0−$1M$0
METAFACEBOOK INCADDED+10.0K22.5K+$1M$3M
TSLATESLA INCADDED+5.0K13.6K−$606,000$2M
AMZNAMAZON COM INCHELD+10.0K233.7K−$6M$20M
NVDANVIDIA CORPHELD+0192.6K+$5M$28M
MAMASTERCARD INCORPORATEDHELD+034.0K+$2M$12M
AAPLAPPLE INCHELD+0256.0K−$2M$33M

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

Holdings — Q4 2022

137 positions (from 139 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM7.63%$33M256.0K
2NVDANVIDIA CORPhistory →COM6.45%$28M192.6K
3MSFTMICROSOFT CORPhistory →COM4.85%$21M88.2K
4AMZNAMAZON COM INChistory →COM4.50%$20M233.7K
5GOOGALPHABET INCCAP STK CL C · CAP STK CL A4.26%$19M210.1K
6BACBANK AMER CORPhistory →COM4.21%$18M554.6K
7MAMASTERCARD INCORPORATEDhistory →CL A2.71%$12M34.0K
8UNHUNITED HEALTH GROUP INChistory →COM2.67%$12M22.0K
9DISDISNEY WALT COhistory →COM DISNEY1.99%$9M100.0K
10BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.88%$8M26.5K
11JPMJPMORGAN CHASE & COhistory →COM1.81%$8M58.8K
12FHNFIRST HORIZON NATL CORPhistory →COM1.69%$7M300.0K
13AMDADVANCED MICRO DEVICES INChistory →COM1.61%$7M108.2K
14FFORD MTR CO DELhistory →COM1.53%$7M575.0K
15COSTCOSTCO WHSL CORP NEWhistory →COM1.49%$6M14.2K
16PFEPFIZER INChistory →COM1.47%$6M124.7K
17CRMSALESFORCE COM INChistory →COM1.45%$6M47.6K
18VVISA INChistory →COM CL A1.42%$6M29.8K
19AMGNAMGEN INChistory →COM1.37%$6M22.7K
20LLYLILLY ELI & COhistory →COM1.35%$6M16.1K
21ORCLORACLE CORPhistory →COM1.29%$6M69.0K
22WMTWALMART INChistory →COM1.18%$5M36.4K
23JNJJOHNSON & JOHNSONhistory →COM1.17%$5M28.9K
24MARATHON OIL CORPCOM1.15%$5M184.7K
25EMREMERSON ELEC COhistory →COM1.10%$5M50.0K
26GENERAL ELECTRIC COCOM1.10%$5M57.0K
27UNPUNION PAC CORPhistory →COM1.09%$5M23.0K
28ABBVABBVIE INChistory →COM1.03%$5M27.9K
29SYFSYNCHRONY FINLCOM1.00%$4M132.1K
30CVXCHEVRON CORP NEWCOM0.91%$4M22.2K
31VZVERIZON COMMUNICATIONS INCCOM0.89%$4M98.3K
32WFCWELLS FARGO CO NEWCOM0.83%$4M88.1K
33BABOEING COCOM0.82%$4M18.7K
34INTCINTEL CORPCOM0.77%$3M127.6K
35IVZINVESCO LTDSHS0.76%$3M185.4K
36EXMOCEXXON MOBIL CORPCOM0.75%$3M29.5K
37BIIBBIOGEN INCCOM0.73%$3M11.5K
38CMCSACOMCAST CORP NEWCL A0.71%$3M88.0K
39LOWLOWES COS INCCOM0.70%$3M15.3K
40HONHONEYWELL INTL INCCOM0.69%$3M14.1K
41GILDGILEAD SCIENCES INCCOM0.67%$3M34.0K
42CCITIGROUP INCCOM NEW0.64%$3M61.5K
43GSGOLDMAN SACHS GROUP INCCOM0.63%$3M8.0K
44METAFACEBOOK INCCL A0.62%$3M22.5K
45TAT&T INCCOM0.61%$3M143.7K
46BMYBRISTOL MYERS SQUIBB COCOM0.59%$3M35.9K
47MSMORGAN STANLEYCOM NEW0.58%$3M30.0K
48MRKMERCK & CO INCCOM0.58%$3M22.9K
49DEDEERE & COCOM0.58%$3M5.9K
50SHOPSHOPIFY INCCL A0.56%$2M70.0K
51ADPAUTOMATIC DATA PROCESSING INCOM0.55%$2M10.0K
52KOCOCA COLA COCOM0.54%$2M37.0K
53PEPPEPSICO INCCOM0.54%$2M13.0K
54PNWPINNACLE WEST CAP CORPCOM0.52%$2M30.0K
55WBAWALGREENS BOOTS ALLIANCE INCCOM0.51%$2M60.0K
56ABTABBOTT LABSCOM0.49%$2M19.4K
57SBUXSTARBUCKS CORPCOM0.48%$2M21.0K
58TJXTJX COS INC NEWCOM0.47%$2M26.0K
59UPSUNITED PARCEL SERVICE INCCL B0.47%$2M11.8K
60PBIPITNEY BOWES INCCOM0.45%$2M511.1K
61COPCONOCOPHILLIPSCOM0.43%$2M16.0K
62ALLALLSTATE CORPCOM0.43%$2M13.8K
63CATCATERPILLAR INC DELCOM0.43%$2M7.8K
64NKENIKE INCCL B0.40%$2M15.0K
65PMPHILIP MORRIS INTL INCCOM0.39%$2M16.7K
66IBMINTERNATIONAL BUSINESS MACHSCOM0.38%$2M11.9K
67TSLATESLA INCCOM0.38%$2M13.6K
68OXYOCCIDENTAL PETE CORP DELCOM · *W EXP 08/03/2020.38%$2M26.4K
69AXPAMERICAN EXPRESS COCOM0.37%$2M11.0K
70PNCPNC FINL SVCS GROUP INCCOM0.36%$2M10.0K
71AFLAFLAC INCCOM0.34%$1M20.6K
72BAXBAXTER INTL INCCOM0.34%$1M29.0K
73PSAPUBLIC STORAGECOM0.32%$1M5.0K
74SVB FINL GROUPCOM0.32%$1M6.0K
75PRUPRUDENTIAL FINL INCCOM0.31%$1M13.5K
76TXNTEXAS INSTRS INCCOM0.30%$1M8.0K
77TRVTRAVELERS COMPANIES INCCOM0.30%$1M7.0K
78LUMNLUMEN TECHNOLOGIES INCCOM0.30%$1M250.0K
79CSCOCISCO SYS INCCOM0.29%$1M26.5K
80AIGAMERICAN INTL GROUP INCCOM NEW0.28%$1M19.1K
81MMM3M COCOM0.27%$1M9.8K
82APAAPA CORPORATIONCOM0.27%$1M25.0K
83RIGTRANSOCEAN LTDREG SHS0.26%$1M250.0K
84METMETLIFE INCCOM0.25%$1M15.0K
85BENFRANKLIN RES INCCOM0.24%$1M40.5K
86ZMZOOM VIDEO COMMUNICATIONS INCL A0.23%$1M15.0K
87RTXRAYTHEON TECHNOLOGIES CORPCOM0.23%$1M10.0K
88MUMICRON TECHNOLOGY INCCOM0.23%$990,00019.8K
89UNITED STATES STL CORP NEWCOM0.22%$944,00037.7K
90HSYHERSHEY COCOM0.21%$926,0004.0K
91HRLHORMEL FOODS CORPCOM0.21%$911,00020.0K
92BNYBANK NEW YORK MELLON CORPCOM0.20%$859,00018.9K
93SPGSIMON PPTY GROUP INC NEWCOM0.19%$822,0007.0K
94CLCOLGATE PALMOLIVE COCOM0.19%$819,00010.4K
95EOGEOG RES INCCOM0.18%$777,0006.0K
96PHPARKER HANNIFIN CORPCOM0.17%$728,0002.5K
97SHWSHERWIN WILLIAMS COCOM0.16%$712,0003.0K
98ADIANALOG DEVICES INCCOM0.15%$656,0004.0K
99PGRPROGRESSIVE CORP OHIOCOM0.15%$649,0005.0K
100BHCBAUSCH HEALTH COS INCCOM0.14%$628,000100.0K

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 ↗.