Gifford Fong Associates
Reported holdings as of Q4 2025, from 29 quarterly filings.
This filer last reported in Q4 2025; the most recent quarter on file across all filers is Q2 2026. Firms that restructure stop filing under one CIK and start under another, so a successor entity may hold these positions now under a similar name.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| NVIDIA CORPORATION | NVDA | $45.9K | 246,210 | -0.50pp | 29q | HELD | |
| AMAZON COM INC | AMZN | $22.3K | 96,793 | -0.01pp | 29q | HELD | |
| APPLE INC | AAPL | $22.1K | 81,169 | +0.06pp | 29q | HELD | |
| SALESFORCE INC | CRM | $19.3K | 73,009 | +0.72pp | 26q | +15.9%+$2.6K | |
| MICROSOFT CORP | MSFT | $16.6K | 34,302 | -0.43pp | 29q | HELD | |
| META PLATFORMS INC | META | $14.9K | 22,500 | -0.51pp | 29q | HELD | |
| ALPHABET INC | GOOG | $14.5K | 46,055 | +0.52pp | 29q | HELD | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $13.3K | 26,500 | -0.14pp | 29q | HELD | |
| ADVANCED MICRO DEVICES INC | AMD | $12.5K | 58,318 | +0.85pp | 29q | +20.7%+$2.1K | |
| GE AEROSPACE | GE | $11.8K | 38,301 | -0.07pp | 18q | HELD | |
| JPMORGAN CHASE & CO | JPM | $11.4K | 35,296 | -0.07pp | 29q | HELD | |
| SHOPIFY INC | SHOP | $11.3K | 70,000 | +0.06pp | 21q | HELD | |
| SYNCHRONY FINANCIAL | SYF | $11.0K | 132,073 | +0.23pp | 29q | HELD | |
| ALPHABET INC | GOOGL | $9.7K | 31,140 | +0.35pp | 29q | HELD | |
| WELLS FARGO & CO | WFC | $8.2K | 88,052 | +0.09pp | 29q | HELD | |
| EXXON MOBIL CORP | XOMXXXX | $7.5K | 62,066 | +0.02pp | 29q | HELD | |
| WALMART INC | WMT | $7.3K | 65,550 | +0.04pp | 29q | HELD | |
| ORACLE CORP | ORCL | $7.3K | 37,250 | -0.75pp | 29q | HELD | |
| CITIGROUP INC | C | $7.2K | 61,471 | +0.12pp | 29q | HELD | |
| OCCIDENTAL PETE CORP | OXY | $7.0K | 171,429 | -0.30pp | 29q | HELD | |
| GOLDMAN SACHS GROUP INC | GS | $7.0K | 8,000 | +0.06pp | 29q | HELD | |
| MASTERCARD INCORPORATED | MA | $6.8K | 11,829 | -0.07pp | 29q | HELD | |
| INVESCO LTD | IVZ | $6.7K | 255,393 | +0.11pp | 22q | HELD | |
| ABBVIE INC | ABBV | $6.4K | 27,900 | -0.09pp | 29q | HELD | |
| GE VERNOVA INC | GEV | $6.3K | 9,575 | +0.01pp | 7q | HELD | |
| VISA INC | V | $6.1K | 17,375 | -0.03pp | 29q | HELD | |
| JOHNSON & JOHNSON | JNJ | $6.0K | 28,900 | +0.07pp | 29q | HELD | |
| MICRON TECHNOLOGY INC | MU | $5.7K | 19,800 | +0.43pp | 29q | HELD | |
| PITNEY BOWES INC | PBI | $5.4K | 511,059 | -0.15pp | 29q | HELD | |
| MORGAN STANLEY | MS | $5.3K | 30,000 | +0.06pp | 29q | HELD | |
| FORD MTR CO | F | $4.5K | 345,157 | +0.04pp | 29q | HELD | |
| CATERPILLAR INC | CAT | $4.5K | 7,800 | +0.11pp | 29q | HELD | |
| AMGEN INC | AMGN | $4.5K | 13,609 | +0.08pp | 29q | HELD | |
| COSTCO WHOLESALE CORPORATION | COST | $4.3K | 5,016 | -0.11pp | 29q | HELD | |
| FIRST HORIZON CORPORATION | FHN | $4.3K | 180,082 | flat | 23q | HELD | |
| DISNEY WALT CO | DIS | $4.1K | 36,407 | -0.05pp | 29q | HELD | |
| AMERICAN EXPRESS CO | AXP | $4.1K | 11,000 | +0.04pp | 29q | HELD | |
| TJX COS INC NEW | TJX | $4.0K | 26,000 | +0.01pp | 29q | HELD | |
| CONOCOPHILLIPS | COP | $3.9K | 41,281 | -0.05pp | 29q | HELD | |
| LOWES COS INC | LOW | $3.7K | 15,320 | -0.07pp | 29q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $3.5K | 11,900 | flat | 29q | HELD | |
| CHEVRON CORPORATION | CVX | $3.4K | 22,200 | -0.05pp | 29q | HELD | |
| FRANKLIN RESOURCES INC | BEN | $3.4K | 140,480 | -0.01pp | 17q | HELD | |
| TESLA INC | TSLA | $3.0K | 6,782 | -0.03pp | 24q | HELD | |
| SPOTIFY TECHNOLOGY S A | SPOT | $2.9K | 5,000 | -0.15pp | 20q | HELD | |
| ALLSTATE CORP | ALL | $2.9K | 13,800 | -0.05pp | 29q | HELD | |
| CIENA CORP | CIEN | $2.9K | 12,255 | +0.20pp | 26q | HELD | |
| PFIZER INC | PFE | $2.8K | 111,527 | -0.04pp | 29q | HELD | |
| HONEYWELL INTL INC | HONZZZZ | $2.8K | 14,100 | -0.08pp | 29q | HELD | |
| DEERE & CO | DE | $2.7K | 5,900 | -0.02pp | 29q | HELD | |
| VERIZON COMMUNICATIONS INC | VZ | $2.7K | 67,263 | -0.07pp | 29q | HELD | |
| PINNACLE WEST CAP CORP | PNW | $2.7K | 30,000 | -0.03pp | 29q | HELD | |
| COMCAST CORP NEW | CMCSA | $2.6K | 88,000 | -0.06pp | 29q | HELD | |
| COCA COLA CO | KO | $2.6K | 37,000 | flat | 29q | HELD | |
| AUTOMATIC DATA PROCESSING IN | ADP | $2.6K | 10,000 | -0.10pp | 29q | HELD | |
| INTEL CORP | INTC | $2.5K | 66,395 | +0.02pp | 29q | HELD | |
| ABBOTT LABORATORIES | ABT | $2.4K | 19,400 | -0.06pp | 29q | HELD | |
| MERCK & CO INC | MRK | $2.4K | 22,900 | +0.08pp | 29q | HELD | |
| AT&T INC | T | $2.3K | 93,689 | -0.09pp | 29q | HELD | |
| AFLAC INC | AFL | $2.3K | 20,600 | -0.03pp | 29q | HELD | |
| PARKER-HANNIFIN CORP | PH | $2.2K | 2,500 | +0.04pp | 29q | HELD | |
| BANK OF NY MELLON CORP | BNY | $2.2K | 18,872 | flat | 29q | HELD | |
| PNC FINL SVCS GROUP INC | PNC | $2.1K | 10,000 | -0.01pp | 29q | HELD | |
| CISCO SYS INC | CSCO | $2.0K | 26,540 | +0.03pp | 29q | HELD | |
| TRAVELERS COMPANIES INC | TRV | $2.0K | 7,000 | -0.01pp | 29q | HELD | |
| UNITEDHEALTH GROUP INC | UNH | $2.0K | 5,918 | -0.04pp | 29q | HELD | |
| LUMEN TECHNOLOGIES INC | LUMN | $1.9K | 250,000 | +0.07pp | 20q | HELD | |
| BRISTOL-MYERS SQUIBB CO | BMY | $1.9K | 35,899 | +0.05pp | 29q | HELD | |
| BOEING CO | BA | $1.9K | 8,735 | -0.02pp | 29q | HELD | |
| PEPSICO INC | PEP | $1.9K | 13,000 | -0.01pp | 29q | HELD | |
| RTX CORPORATION | RTX | $1.8K | 10,000 | +0.01pp | 23q | HELD | |
| STARBUCKS CORP | SBUX | $1.8K | 21,000 | -0.02pp | 29q | HELD | |
| AMERICAN INTL GROUP INC | AIG | $1.6K | 19,100 | +0.01pp | 29q | HELD | |
| 3M CO | MMM | $1.6K | 9,750 | -0.01pp | 29q | HELD | |
| GE HEALTHCARE TECHNOLOGIES I | GEHC | $1.6K | 19,012 | +0.01pp | 12q | HELD | |
| PRUDENTIAL FINL INC | PRU | $1.5K | 13,500 | +0.01pp | 29q | HELD | |
| TEXAS INSTRS INC | TXN | $1.4K | 8,000 | -0.03pp | 29q | HELD | |
| PUBLIC STORAGE | PSA | $1.3K | 5,000 | -0.04pp | 29q | HELD | |
| SIMON PPTY GROUP INC NEW | SPG | $1.3K | 7,000 | -0.02pp | 29q | HELD | |
| ZOOM COMMUNICATIONS INC | ZM | $1.3K | 15,000 | flat | 21q | HELD | |
| METLIFE INC | MET | $1.2K | 15,000 | -0.02pp | 29q | HELD | |
| UNITED PARCEL SVCS INC | UPS | $1.2K | 11,800 | +0.03pp | 29q | HELD | |
| PROGRESSIVE CORP | PGR | $1.1K | 5,000 | -0.03pp | 29q | HELD | |
| GILEAD SCIENCES INC | GILD | $1.1K | 9,000 | +0.01pp | 29q | HELD | |
| ANALOG DEVICES INC | ADI | $1.1K | 4,000 | +0.01pp | 29q | HELD | |
| TRANSOCEAN LTD | RIG | $1.0K | 250,000 | +0.04pp | 29q | HELD | |
| BIOGEN INC | BIIB | $1.0K | 5,750 | +0.03pp | 29q | HELD | |
| SHERWIN WILLIAMS CO | SHW | $972 | 3,000 | -0.02pp | 29q | HELD | |
| NIKE INC | NKE | $956 | 15,000 | -0.03pp | 29q | HELD | |
| DELL TECHNOLOGIES INC | DELL | $874 | 6,946 | -0.03pp | 29q | HELD | |
| ITT INC | ITT | $868 | 5,000 | -0.01pp | 29q | HELD | |
| QUALCOMM INC | QCOM | $855 | 5,000 | flat | 29q | HELD | |
| BANK OF AMER CORP | BAC | $833 | 15,147 | flat | 29q | HELD | |
| COLGATE PALMOLIVE CO | CL | $822 | 10,400 | -0.01pp | 29q | HELD | |
| HERSHEY CO | HSY | $728 | 4,000 | -0.01pp | 29q | HELD | |
| BERKLEY W R CORP | WRB | $710 | 10,125 | -0.02pp | 29q | HELD | |
| LOEWS CORP | L | $706 | 6,700 | flat | 29q | HELD | |
| BAUSCH HEALTH COS INC | BHC | $695 | 100,000 | flat | 29q | HELD | |
| CORTEVA INC | CTVA | $659 | 9,828 | -0.01pp | 27q | HELD | |
| US BANCORP | USB | $640 | 12,000 | +0.01pp | 29q | HELD | |
| EOG RES INC | EOG | $630 | 6,000 | -0.02pp | 29q | HELD | |
| GLOBE LIFE INC | GL | $629 | 4,500 | -0.01pp | 26q | HELD | |
| KEYCORP | KEY | $619 | 30,000 | +0.01pp | 29q | HELD | |
| APA CORPORATION | APA | $612 | 25,000 | -0.01pp | 20q | HELD | |
| DEUTSCHE BK AG | DB | $578 | 15,000 | flat | 29q | HELD | |
| BAXTER INTL INC | BAX | $554 | 29,000 | -0.03pp | 29q | HELD | |
| CARRIER GLOBAL CORPORATION | CARR | $528 | 10,000 | -0.02pp | 23q | HELD | |
| NUCOR CORP | NUE | $489 | 3,000 | +0.01pp | 29q | HELD | |
| HORMEL FOODS CORP | HRL | $474 | 20,000 | -0.01pp | 29q | HELD | |
| WARNER BROS DISCOVERY INC | WBD | $397 | 13,760 | +0.02pp | 15q | HELD | |
| WABTEC | WAB | $385 | 1,806 | flat | 28q | HELD | |
| INTERNATIONAL FLAVORS&FRAGRA | IFF | $250 | 3,707 | flat | 20q | HELD | |
| DOW HLDGS INC | DOW | $230 | 9,828 | flat | 27q | HELD | |
| HALLIBURTON CO | HAL | $226 | 8,000 | flat | 29q | HELD | |
| STANLEY BLACK & DECKER INC | SWK | $223 | 3,000 | flat | 29q | HELD | |
| SOLVENTUM CORP | SOLV | $193 | 2,437 | flat | 7q | HELD | |
| VIATRIS INC | VTRS | $193 | 15,476 | +0.01pp | 21q | HELD | |
| BLACKBERRY LTD | BB | $190 | 50,000 | -0.01pp | 18q | HELD | |
| QNITY ELECTRONICS INC | Q | $190 | 2,332 | - | new | NEW | |
| DUPONT DE NEMOURS INC | DD | $188 | 4,665 | -0.04pp | 27q | HELD | |
| NOV INC | NOV | $188 | 12,000 | flat | 20q | HELD | |
| SOLSTICE ADVANCED MATLS INC | SOLS | $171 | 3,525 | - | new | NEW | |
| CVS HEALTH CORP | CVS | $133 | 1,675 | flat | 29q | HELD | |
| EMERSON ELEC CO | EMR | $24 | 178 | flat | 29q | HELD |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q4 2025 | $501.4K | 124 | 2 | 2 | 0 | 0 | 38.5% | 41 |
| Q3 2025 | $475.8K | 122 | 0 | 2 | 1 | 1 | 38.7% | 34 |
| Q2 2025 | $434.3K | 123 | 0 | 1 | 6 | 3 | 38.8% | 44 |
| Q1 2025 | $401.9K | 126 | 0 | 1 | 0 | 0 | 35.9% | 42 |
| Q4 2024 | $407.5K | 126 | 0 | 2 | 1 | 2 | 38.0% | 43 |
| Q3 2024 | $399.9K | 128 | 0 | 1 | 0 | 0 | 37.9% | 35 |
| Q2 2024 | $377.5K | 128 | 2 | 3 | 0 | 1 | 39.5% | 43 |
| Q1 2024 | $362.7K | 127 | 0 | 1 | 25 | 12 | 36.0% | 40 |
| Q4 2023 | $470.1K | 139 | 0 | 1 | 0 | 2 | 41.6% | 38 |
| Q3 2023 | $418.1K | 141 | 0 | 1 | 0 | 0 | 40.9% | 44 |
| Q2 2023 | $426.0K | 141 | 0 | 4 | 0 | 0 | 40.8% | 45 |
| Q1 2023 | $379.8K | 141 | 2 | 1 | 20 | 0 | 36.2% | 40 |
| Q4 2022 | $436.1K | 139 | 0 | 4 | 0 | 1 | 39.3% | 44 |
| Q3 2022 | $404.3M | 140 | 1 | 6 | 0 | 0 | 42.5% | 46 |
| Q2 2022 | $429.2M | 139 | 1 | 4 | 1 | 0 | 42.5% | 42 |
| Q1 2022 | $547.0M | 138 | 0 | 6 | 1 | 1 | 45.8% | 42 |
| Q4 2021 | $571.6M | 139 | 3 | 2 | 0 | 0 | 46.3% | 40 |
| Q3 2021 | $514.7M | 136 | 2 | 4 | 0 | 1 | 44.9% | 41 |
| Q2 2021 | $514.4M | 135 | 1 | 3 | 0 | 1 | 43.7% | 40 |
| Q1 2021 | $465.3M | 135 | 5 | 1 | 1 | 6 | 41.8% | 42 |
| Q4 2020 | $430.9M | 136 | 4 | 2 | 4 | 0 | 44.0% | 60 |
| Q3 2020 | $373.2M | 132 | 3 | 5 | 3 | 0 | 46.6% | 43 |
| Q2 2020 | $330.1M | 129 | 4 | 6 | 2 | 2 | 43.6% | 45 |
| Q1 2020 | $272.5M | 127 | 2 | 6 | 9 | 0 | 42.6% | 44 |
| Q4 2019 | $342.7M | 125 | 1 | 1 | 0 | 0 | 40.7% | 42 |
| Q3 2019 | $305.8M | 124 | 4 | 7 | 5 | 1 | 38.9% | 44 |
| Q2 2019 | $298.9M | 121 | 3 | 3 | 4 | 1 | 36.9% | 39 |
| Q1 2019 | $302.8M | 119 | 1 | 3 | 0 | 0 | 36.9% | 37 |
| Q4 2018 | $264.9M | 118 | 0 | 0 | 0 | 0 | 37.1% | 30 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.