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Portfolio (Quarterly) Guide ↗

Gifford Fong Associates

· CIK 0001740316
13F Portfolio $476M AUM Filed Nov 3, 2025 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 122 New
Page 6 of 7  ·  122 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
101 BHC BAUSCH HEALTH COS INC Healthcare 100,000.0 $645K 0.14% NEW $6.45 -15.5%
102 GL GLOBE LIFE INC Financial Services 4,500.0 $643K 0.14% NEW $142.89 +9.6%
103 APA APA CORPORATION Energy 25,000.0 $607K 0.13% NEW $24.28 +57.9%
104 CARR CARRIER GLOBAL CORPORATION Industrials 10,000.0 $597K 0.12% NEW $59.70 +4.2%
105 USB US BANCORP DEL Financial Services 12,000.0 $580K 0.12% NEW $48.33 +12.8%
106 KEY KEYCORP NEW Financial Services 30,000.0 $561K 0.12% NEW $18.70 +14.9%
107 DB DEUTSCHE BANK AG Financial Services 15,000.0 $531K 0.11% NEW $35.40 -7.1%
108 HRL HORMEL FOODS CORP Consumer Defensive 20,000.0 $495K 0.10% NEW $24.75 -14.8%
109 NUE NUCOR CORP Basic Materials 3,000.0 $406K 0.09% NEW $135.33 +67.3%
110 DD DUPONT DE NEMOURS INC Basic Materials 4,665.0 $363K 0.08% NEW $77.81 -39.4%
111 WAB WABTEC CORP Industrials 1,806.0 $362K 0.08% NEW $200.44 +29.3%
112 WBD WARNER BROS DISCOVERY INC Communication Services 13,760.0 $269K 0.06% NEW $19.55 +40.3%
113 BB BLACKBERRY LTD Technology 50,000.0 $244K 0.05% NEW $4.88 +36.3%
114 IFF INTERNATIONAL FLAVORS&FRAGRA Basic Materials 3,707.0 $228K 0.05% NEW $61.51 +22.3%
115 DOW DOW INC Basic Materials 9,828.0 $225K 0.05% NEW $22.89 +56.9%
116 SWK STANLEY BLACK & DECKER INC Industrials 3,000.0 $223K 0.05% NEW $74.33 +0.9%
117 HAL HALLIBURTON CO Energy 8,000.0 $197K 0.04% NEW $24.62 +70.4%
118 SOLV SOLVENTUM CORP Healthcare 2,437.0 $178K 0.04% NEW $73.04 +4.2%
119 NOV NOV INC Energy 12,000.0 $159K 0.03% NEW $13.25 +57.4%
120 VTRS VIATRIS INC Healthcare 15,476.0 $153K 0.03% NEW $9.89 +67.8%
Page 6 of 7  ·  122 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 31.6%
Financial Services 20.8%
Communication Services 11.5%
Industrials 8.6%
Consumer Cyclical 8.4%
Healthcare 6.8%
Energy 5.4%
Consumer Defensive 3.8%
Utilities 1.9%
Basic Materials 0.6%