Gifford Fong Associates

Q4 2025 13F-HR Holdings

Location
Lafayette, CA
Holdings as of
12/31/2025
Date filed
2/10/2026
Form type
13F-HR
Num holdings
124
Total value ($000)
$501,412
Net value change ($000)
+25,617 (5.4%)
New positions
2
Sold out positions
0
Turnover %
0.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/3/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
AMD 4,672 59.8%
CRM 4,408 29.5%
GOOGL 3,235 28.8%
MU 2,338 70.6%
GOOGL 2,177 28.8%
SYF 1,635 17.4%
AAPL 1,399 6.8%
AMZN 1,089 5.1%
CIEN 1,081 60.6%
C 934 15.0%
Top Reduces (Value $000, Stocks/ETFs)
ORCL -3,216 -30.7%
META -1,672 -10.1%
MSFT -1,178 -6.6%
OXY -1,051 -13.0%
SPOT -586 -16.8%
PBI -429 -7.4%
ADP -363 -12.4%
T -319 -12.1%
COST -318 -6.8%
HON -217 -7.3%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type