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Portfolio (Quarterly) Guide ↗

Gifford Fong Associates

· CIK 0001740316
13F Portfolio $501M AUM 124 positions Filed Feb 10, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 2 New 2 Added
Page 2 of 7  ·  124 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 GS GOLDMAN SACHS GROUP INC Financial Services 8,000.0 $7.0M 1.40% $879.00 +12.4%
22 MA MASTERCARD INCORPORATED Financial Services 11,829.0 $6.8M 1.35% $570.89 -12.5%
23 IVZ INVESCO LTD Financial Services 255,393.0 $6.7M 1.34% $26.27 +2.7%
24 ABBV ABBVIE INC Healthcare 27,900.0 $6.4M 1.27% $228.49 -6.1%
25 GEV GE VERNOVA INC Utilities 9,575.0 $6.3M 1.25% $653.58 +59.7%
26 V VISA INC Financial Services 17,375.0 $6.1M 1.22% $350.73 -5.7%
27 JNJ JOHNSON & JOHNSON Healthcare 28,900.0 $6.0M 1.19% $206.96 +12.0%
28 MU MICRON TECHNOLOGY INC Technology 19,800.0 $5.7M 1.13% $285.40 +167.0%
29 PBI PITNEY BOWES INC Industrials 511,059.0 $5.4M 1.08% $10.57 +46.6%
30 MS MORGAN STANLEY Financial Services 30,000.0 $5.3M 1.06% $177.53 +12.9%
31 F FORD MTR CO DEL Consumer Cyclical 345,157.0 $4.5M 0.90% $13.12 +4.2%
32 CAT CATERPILLAR INC DEL Industrials 7,800.0 $4.5M 0.89% $572.82 +51.2%
33 AMGN AMGEN INC Healthcare 13,609.0 $4.5M 0.89% $327.28 +3.1%
34 COST COSTCO WHSL CORP NEW Consumer Defensive 5,016.0 $4.3M 0.86% $862.24 +21.8%
35 FHN FIRST HORIZON NATL CORP Financial Services 180,082.0 $4.3M 0.86% $23.90 +0.8%
36 DIS DISNEY WALT CO Communication Services 36,407.0 $4.1M 0.83% $113.77 -9.0%
37 AXP AMERICAN EXPRESS CO Financial Services 11,000.0 $4.1M 0.81% $369.91 -16.3%
38 TJX TJX COS INC NEW Consumer Cyclical 26,000.0 $4.0M 0.80% $153.62 +3.6%
39 COP CONOCOPHILLIPS Energy 41,281.0 $3.9M 0.77% $93.60 +28.8%
40 LOW LOWES COS INC Consumer Cyclical 15,320.0 $3.7M 0.74% $241.19 -9.9%
Page 2 of 7  ·  124 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 32.2%
Financial Services 21.1%
Communication Services 11.5%
Consumer Cyclical 8.3%
Industrials 8.3%
Healthcare 6.9%
Energy 5.0%
Consumer Defensive 3.7%
Utilities 1.8%
Basic Materials 0.6%