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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 3 of 7  ·  124 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
41 IBM INTERNATIONAL BUSINESS MACHS Technology 11,900.0 $3.5M 0.70% $296.22 -14.6%
42 CVX CHEVRON CORP NEW Energy 22,200.0 $3.4M 0.68% $152.43 +25.3%
43 BEN FRANKLIN RES INC Financial Services 140,480.0 $3.4M 0.67% $23.89 +29.2%
44 TSLA TESLA INC Consumer Cyclical 6,782.0 $3.0M 0.61% $449.72 -7.2%
45 SPOT SPOTIFY TECHNOLOGY S A Communication Services 5,000.0 $2.9M 0.58% $580.80 -25.4%
46 ALL ALLSTATE CORP Financial Services 13,800.0 $2.9M 0.57% $208.12 +3.0%
47 CIEN CIENA CORP Technology 12,255.0 $2.9M 0.57% $233.86 +151.1%
48 PFE PFIZER INC Healthcare 111,527.0 $2.8M 0.55% $24.90 +4.2%
49 HON HONEYWELL INTL INC Industrials 14,100.0 $2.8M 0.55% $195.11 +14.7%
50 DE DEERE & CO Industrials 5,900.0 $2.7M 0.55% $465.59 +14.1%
51 VZ VERIZON COMMUNICATIONS INC Communication Services 67,263.0 $2.7M 0.55% $40.74 +17.4%
52 PNW PINNACLE WEST CAP CORP Utilities 30,000.0 $2.7M 0.53% $88.70 +14.9%
53 CMCSA COMCAST CORP NEW Communication Services 88,000.0 $2.6M 0.53% $29.89 -16.1%
54 KO COCA COLA CO Consumer Defensive 37,000.0 $2.6M 0.52% $69.92 +16.1%
55 ADP AUTOMATIC DATA PROCESSING IN Industrials 10,000.0 $2.6M 0.51% $257.20 -14.4%
56 INTC INTEL CORP Technology 66,395.0 $2.5M 0.49% $36.90 +221.1%
57 ABT ABBOTT LABS Healthcare 19,400.0 $2.4M 0.48% $125.31 -30.0%
58 MRK MERCK & CO INC Healthcare 22,900.0 $2.4M 0.48% $105.24 +10.1%
59 T AT&T INC Communication Services 93,689.0 $2.3M 0.46% $24.84 +0.4%
60 AFL AFLAC INC Financial Services 20,600.0 $2.3M 0.45% $110.29 +6.8%
Page 3 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%