SEC 13F Intelligence

Managers / Q1 2024 · view latest →

Gifford Fong Associates

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

Reported Value
$363M
Q1 2024
Positions
127
Filings on Record
29
2019–present window
Filed
May 10, 2024
original filing

Summary

Gifford Fong Associates reported $363M in U.S.-listed holdings across 127 positions for Q1 2024.

Its largest position, NVDA, represents 9.1% of the portfolio.

Compared with Q4 2023, the fund opened 0 new positions and exited 13.

Portfolio Metrics

Turnover
+5.0%
vs prior filed quarter
Top-10 Concentration
+37.3%
share of reported value
Largest Position
+9.1%
Nvidia

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: 99.3%REIT: 0.7%Equity WRT: 0.0%
  • Common Stock · 99.3% · $360M
  • REIT · 0.7% · $3M
  • Equity WRT · 0.0% · $54,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WMTWALMART INCADDED+43.7K65.5K+$499,000$4M
LLYLILLY ELI & COSOLD OUT−16.1K0−$9M$0
UNPUNION PAC CORPSOLD OUT−23.0K0−$6M$0
OTISOTIS WORLDWIDE CORPSOLD OUT−5.0K0−$447,000$0
LNCLINCOLN NATL CORP INDSOLD OUT−10.0K0−$270,000$0
OGEOGE ENERGY CORPSOLD OUT−4.0K0−$140,000$0
MCYMERCURY GENL CORP NEWSOLD OUT−3.0K0−$112,000$0
BHFBRIGHTHOUSE FINL INCSOLD OUT−1.4K0−$72,000$0

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

Holdings — Q1 2024

125 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPhistory →COM9.11%$33M36.6K
2AMZNAMAZON COM INChistory →COM4.81%$17M96.8K
3MSFTMICROSOFT CORPhistory →COM3.98%$14M34.3K
4AAPLAPPLE INChistory →COM3.84%$14M81.2K
5GOOGALPHABET INCCAP STK CL C · CAP STK CL A3.23%$12M77.2K
6BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW3.07%$11M26.5K
7METAFACEBOOK INChistory →CL A3.01%$11M22.5K
8AMDADVANCED MICRO DEVICES INChistory →COM2.40%$9M48.3K
9JPMJPMORGAN CHASE & COhistory →COM1.95%$7M35.3K
10GENERAL ELECTRIC COCOM1.85%$7M38.3K
11MAMASTERCARD INCORPORATEDhistory →CL A1.57%$6M11.8K
12SYFSYNCHRONY FINLhistory →COM1.57%$6M132.1K
13CRMSALESFORCE COM INChistory →COM1.50%$5M18.0K
14SHOPSHOPIFY INChistory →CL A1.49%$5M70.0K
15WFCWELLS FARGO CO NEWhistory →COM1.41%$5M88.1K
16ABBVABBVIE INChistory →COM1.40%$5M27.9K
17VVISA INChistory →COM CL A1.34%$5M17.4K
18ORCLORACLE CORPhistory →COM1.29%$5M37.3K
19FFORD MTR CO DELhistory →COM1.26%$5M345.2K
20JNJJOHNSON & JOHNSONhistory →COM1.26%$5M28.9K
21DISDISNEY WALT COhistory →COM DISNEY1.23%$4M36.4K
22IVZINVESCO LTDhistory →SHS1.17%$4M255.4K
23WMTWALMART INChistory →COM1.09%$4M65.5K
24LOWLOWES COS INChistory →COM1.08%$4M15.3K
25CCITIGROUP INChistory →COM NEW1.07%$4M61.5K
26VZVERIZON COMMUNICATIONS INChistory →COM1.07%$4M92.3K
27AMGNAMGEN INChistory →COM1.07%$4M13.6K
28CMCSACOMCAST CORP NEWhistory →CL A1.05%$4M88.0K
29COSTCOSTCO WHSL CORP NEWhistory →COM1.01%$4M5.0K
30PIONEER NAT RES COCOM1.01%$4M14.0K
31CVXCHEVRON CORP NEWCOM0.97%$4M22.2K
32EXMOCEXXON MOBIL CORPCOM0.95%$3M29.5K
33GSGOLDMAN SACHS GROUP INCCOM0.92%$3M8.0K
34PFEPFIZER INCCOM0.85%$3M111.5K
35MRKMERCK & CO INCCOM0.83%$3M22.9K
36INTCINTEL CORPCOM0.81%$3M66.4K
37UNHUNITED HEALTH GROUP INCCOM0.81%$3M5.9K
38HONHONEYWELL INTL INCCOM0.80%$3M14.1K
39CATCATERPILLAR INC DELCOM0.79%$3M7.8K
40MSMORGAN STANLEYCOM NEW0.78%$3M30.0K
41MARATHON OIL CORPCOM0.77%$3M99.1K
42FHNFIRST HORIZON NATL CORPCOM0.76%$3M180.1K
43TJXTJX COS INC NEWCOM0.73%$3M26.0K
44TAT&T INCCOM0.70%$3M143.7K
45AXPAMERICAN EXPRESS COCOM0.69%$3M11.0K
46ADPAUTOMATIC DATA PROCESSING INCOM0.69%$2M10.0K
47GILDGILEAD SCIENCES INCCOM0.69%$2M34.0K
48DEDEERE & COCOM0.67%$2M5.9K
49ALLALLSTATE CORPCOM0.66%$2M13.8K
50OXYOCCIDENTAL PETE CORP DELCOM · *W EXP 08/03/2020.65%$2M36.4K
51MUMICRON TECHNOLOGY INCCOM0.64%$2M19.8K
52PEPPEPSICO INCCOM0.63%$2M13.0K
53IBMINTERNATIONAL BUSINESS MACHSCOM0.63%$2M11.9K
54KOCOCA COLA COCOM0.62%$2M37.0K
55PNWPINNACLE WEST CAP CORPCOM0.62%$2M30.0K
56PBIPITNEY BOWES INCCOM0.61%$2M511.1K
57ABTABBOTT LABSCOM0.61%$2M19.4K
58COPCONOCOPHILLIPSCOM0.56%$2M16.0K
59BMYBRISTOL MYERS SQUIBB COCOM0.54%$2M35.9K
60SBUXSTARBUCKS CORPCOM0.53%$2M21.0K
61BENFRANKLIN RES INCCOM0.51%$2M65.5K
62AFLAFLAC INCCOM0.49%$2M20.6K
63UPSUNITED PARCEL SERVICE INCCL B0.48%$2M11.8K
64GEHCGE HEALTHCARE TECHNOLOGIES ICOMMON STOCK0.48%$2M19.0K
65BABOEING COCOM0.46%$2M8.7K
66PNCPNC FINL SVCS GROUP INCCOM0.45%$2M10.0K
67TRVTRAVELERS COMPANIES INCCOM0.44%$2M7.0K
68PRUPRUDENTIAL FINL INCCOM0.44%$2M13.5K
69RIGTRANSOCEAN LTDREG SHS0.43%$2M250.0K
70UNITED STATES STL CORP NEWCOM0.42%$2M37.7K
71PMPHILIP MORRIS INTL INCCOM0.42%$2M16.7K
72AIGAMERICAN INTL GROUP INCCOM NEW0.41%$1M19.1K
73PSAPUBLIC STORAGECOM0.40%$1M5.0K
74NKENIKE INCCL B0.39%$1M15.0K
75TXNTEXAS INSTRS INCCOM0.38%$1M8.0K
76PHPARKER HANNIFIN CORPCOM0.38%$1M2.5K
77CSCOCISCO SYS INCCOM0.37%$1M26.5K
78SPOTSPOTIFY TECHNOLOGY S ASHS0.36%$1M5.0K
79BIIBBIOGEN INCCOM0.34%$1M5.8K
80BAXBAXTER INTL INCCOM0.34%$1M29.0K
81TSLATESLA INCCOM0.33%$1M6.8K
82METMETLIFE INCCOM0.31%$1M15.0K
83SPGSIMON PPTY GROUP INC NEWCOM0.30%$1M7.0K
84BNYBANK NEW YORK MELLON CORPCOM0.30%$1M18.9K
85BHCBAUSCH HEALTH COS INCCOM0.29%$1M100.0K
86SHWSHERWIN WILLIAMS COCOM0.29%$1M3.0K
87MMM3M COCOM0.29%$1M9.8K
88PGRPROGRESSIVE CORP OHIOCOM0.29%$1M5.0K
89ZMZOOM VIDEO COMMUNICATIONS INCL A0.27%$981,00015.0K
90RTXRAYTHEON TECHNOLOGIES CORPCOM0.27%$975,00010.0K
91CLCOLGATE PALMOLIVE COCOM0.26%$937,00010.4K
92APAAPA CORPORATIONCOM0.24%$860,00025.0K
93QCOMQUALCOMM INCCOM0.23%$847,0005.0K
94DELLDELL TECHNOLOGIES INCCL C0.22%$793,0006.9K
95ADIANALOG DEVICES INCCOM0.22%$791,0004.0K
96HSYHERSHEY COCOM0.21%$778,0004.0K
97EOGEOG RES INCCOM0.21%$767,0006.0K
98DEUTSCHE BANK AGNAMEN AKT0.20%$710,00045.0K
99HRLHORMEL FOODS CORPCOM0.19%$698,00020.0K
100ITTITT INCCOM0.19%$680,0005.0K

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 ↗.