Gifford Fong Associates
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Portfolio style
Measured from the filed 13F common-share book for Dec 31, 2025, never from the firm's own description.
Closest benchmark: the S&P 500 as of 2025-12-31, active share 46.4%; sector active share 21.3% against the combined 13F book's sector weights.
Over time 24 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
124 tracked positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Portfolio Trend
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 31.9% | $159,917,728 |
| Financial Services | 23.2% | $116,383,827 |
| Communication Services | 11.2% | $56,132,714 |
| Industrials | 8.8% | $44,110,964 |
| Consumer Cyclical | 8.0% | $40,332,711 |
| Healthcare | 6.7% | $33,762,038 |
| Energy | 4.9% | $24,453,698 |
| Consumer Defensive | 3.6% | $18,104,580 |
| Basic Materials | 0.6% | $2,958,558 |
| Utilities | 0.5% | $2,661,000 |
| Real Estate | 0.5% | $2,593,270 |
Last Quarter's Activity
Export CSVTrimmed
Positions the filer reducedSold Out
Positions the filer fully exited| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NVDA |
Nvidia Corp
Technology
|
Held | 246,210 | $45,918,165 | 9.16% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Held | 96,793 | $22,341,760 | 4.46% | |
| AAPL |
Apple Inc.
Technology
|
Held | 81,169 | $22,066,604 | 4.40% | |
| CRM |
Salesforce, Inc.
Technology
|
Added | 73,009 | $19,340,814 | 3.86% | |
| MSFT |
Microsoft Corp
Technology
|
Held | 34,302 | $16,589,133 | 3.31% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Held | 22,500 | $14,852,025 | 2.96% | |
| GOOG |
Alphabet Inc.
Communication Services
|
Held | 46,055 | $14,452,059 | 2.88% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Held | 26,500 | $13,320,225 | 2.66% | |
| AMD |
Advanced Micro Devices Inc
Technology
|
Added | 58,318 | $12,489,382 | 2.49% | |
| GE |
General Electric Co
Industrials
|
Held | 38,301 | $11,797,857 | 2.35% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Held | 35,296 | $11,373,077 | 2.27% | |
| SHOP |
Shopify Inc.
Technology
|
Held | 70,000 | $11,267,900 | 2.25% | |
| SYF |
Synchrony Financial
Financial Services
|
Held | 132,073 | $11,018,850 | 2.20% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Held | 31,140 | $9,746,820 | 1.94% | |
| WFC |
Wells Fargo & Company
Financial Services
|
Held | 88,052 | $8,206,446 | 1.64% | |
| XOM |
ExxonMobil Holdings Corp
Energy
|
Held | 62,066 | $7,469,022 | 1.49% | |
| WMT |
Walmart Inc.
Consumer Defensive
|
Held | 65,550 | $7,302,925 | 1.46% | |
| ORCL |
Oracle Corp
Technology
|
Held | 37,250 | $7,260,397 | 1.45% | |
| C |
Citigroup Inc
Financial Services
|
Held | 61,471 | $7,173,050 | 1.43% | |
| OXY |
Occidental Petroleum Corp
Energy
|
Held | 171,429 | $7,049,160 | 1.41% | |
| GS |
Goldman Sachs Group Inc
Financial Services
|
Held | 8,000 | $7,032,000 | 1.40% | |
| MA |
Mastercard Inc
Financial Services
|
Held | 11,829 | $6,752,939 | 1.35% | |
| IVZ |
Invesco Ltd.
Financial Services
|
Held | 255,393 | $6,709,174 | 1.34% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Held | 27,900 | $6,374,871 | 1.27% | |
| GEV |
GE Vernova Inc.
Industrials
|
Held | 9,575 | $6,257,932 | 1.25% | |
| V |
Visa Inc.
Financial Services
|
Held | 17,375 | $6,093,586 | 1.22% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Held | 28,900 | $5,980,855 | 1.19% | |
| MU |
Micron Technology Inc
Technology
|
Held | 19,800 | $5,651,118 | 1.13% | |
| PBI |
Pitney Bowes Inc
Industrials
|
Held | 511,059 | $5,401,893 | 1.08% | |
| MS |
Morgan Stanley
Financial Services
|
Held | 30,000 | $5,325,900 | 1.06% | |
| F |
Ford Motor Co
Consumer Cyclical
|
Held | 345,157 | $4,528,459 | 0.90% | |
| CAT |
Caterpillar Inc
Industrials
|
Held | 7,800 | $4,468,386 | 0.89% | |
| AMGN |
Amgen Inc
Healthcare
|
Held | 13,609 | $4,454,361 | 0.89% | |
| COST |
Costco Wholesale Corp
Consumer Defensive
|
Held | 5,016 | $4,325,497 | 0.86% | |
| FHN |
First Horizon Corp
Financial Services
|
Held | 180,082 | $4,303,959 | 0.86% | |
| DIS |
Walt Disney Co
Communication Services
|
Held | 36,407 | $4,142,024 | 0.83% | |
| AXP |
American Express Co
Financial Services
|
Held | 11,000 | $4,069,450 | 0.81% | |
| TJX |
Tjx Companies Inc
Consumer Cyclical
|
Held | 26,000 | $3,993,860 | 0.80% | |
| COP |
Conocophillips
Energy
|
Held | 41,281 | $3,864,314 | 0.77% | |
| LOW |
Lowes Companies Inc
Consumer Cyclical
|
Held | 15,320 | $3,694,571 | 0.74% | |
| IBM |
International Business Machines Corp
Technology
|
Held | 11,900 | $3,524,899 | 0.70% | |
| CVX |
Chevron Corp
Energy
|
Held | 22,200 | $3,383,502 | 0.67% | |
| BEN |
Franklin Templeton Inc
Financial Services
|
Held | 140,480 | $3,356,067 | 0.67% | |
| TSLA |
Tesla, Inc.
Consumer Cyclical
|
Held | 6,782 | $3,050,001 | 0.61% | |
| SPOT |
Spotify Technology S.A.
Communication Services
|
Held | 5,000 | $2,903,550 | 0.58% | |
| ALL |
Allstate Corp
Financial Services
|
Held | 13,800 | $2,872,470 | 0.57% | |
| CIEN |
Ciena Corp
Technology
|
Held | 12,255 | $2,866,076 | 0.57% | |
| PFE |
Pfizer Inc
Healthcare
|
Held | 111,527 | $2,777,022 | 0.55% | |
| HON |
Honeywell International Inc
Industrials
|
Held | 14,100 | $2,750,769 | 0.55% | |
| DE |
Deere & Co
Industrials
|
Held | 5,900 | $2,746,863 | 0.55% |
Showing the top 50 of 124 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.