CIK: 0001135126
Total reported value
$423.8M
Reporting period: 2014-03-31 · Number of holdings: 131
GRASSI INVESTMENT MANAGEMENT LLC disclosed 131 holdings in its latest 13F filing for the period ending 2014-03-31, with total reported value of $423.8M and a quarterly turnover rate of 21.6%.
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Grassi Investment Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.014 — mathematically equivalent to about 72 equally-sized positions, well below its 131 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.91), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 51% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim TRV
-82.3% -$5.5M
Add KEY
+2556.0% $5.1M
Trim 370442105
-89.3% -$4.4M
Trim WES
-72.1% -$2.4M
Add 66704R100
+141.7% $2.3M
Add 92826c839
+47.6% $1.6M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 4.46% | -0.20% | -2.48% | |
| 2 | BAC | Bank Of America CORP | Stock-Financials | 3.22% | +0.35% | +2.79% | |
| 3 | AEP | American Electric Power Company, Inc. | Stock-Utilities | 2.42% | -0.21% | +0.81% | |
| 4 | PLD | Prologis INC | Stock-Real Estate | 2.03% | +0.17% | -0.26% | |
| 5 | WFC | Wells Fargo & Co | Stock-Financials | 1.96% | +0.15% | -0.42% | |
| 6 | AMAT | Applied Materials INC | Stock-Tech | 1.81% | +0.17% | -3.49% | |
| 7 | DUK | Du Pont E I De Nemour&Co | Stock-Utilities | 1.75% | +0.09% | +2.94% | |
| 8 | EPD | Enterprise Products Partners | Stock-Energy | 1.70% | — | -0.29% | |
| 9 | C | Citigroup Inc. | Stock-Financials | 1.65% | -0.15% | +1.21% | |
| 10 | BA | Boeing Co/the | Stock-Industrials | 1.64% | -0.13% | +2.02% | |
| 11 | VZ | Verizon Communications INC | Stock-Comm Services | 1.62% | — | +0.07% | |
| 12 | PFE | Pfizer INC | Stock-Healthcare | 1.62% | +0.09% | +2.14% | |
| 13 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.60% | +0.11% | +1.44% | |
| 14 | DOW | Dow Chem Co | Stock-Materials | 1.55% | +0.20% | +5.86% | |
| 15 | ABBV | Abbvie INC | Stock-Healthcare | 1.54% | — | -2.61% | |
| 16 | MMM | 3m Co | Stock-Industrials | 1.49% | — | +0.81% | |
| 17 | LMT | Lockheed Martin CORP | Stock-Industrials | 1.48% | +0.12% | — | |
| 18 | RHHBY | Roche Holdings Ltd-spons Adr | Stock-Other | 1.48% | +1.48% | NEW | |
| 19 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 1.48% | — | +1.35% | |
| 20 | AIG | American International Group | Stock-Financials | 1.47% | -0.32% | -15.18% | |
| 21 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.47% | — | +0.24% | |
| 22 | PEP | Pepsico INC | Stock-Consumer Staples | 1.41% | — | +0.21% | |
| 23 | HON | Honeywell International INC | Stock-Industrials | 1.39% | — | +0.80% | |
| 24 | UTXZ | United Tech CORP | Stock-Other | 1.38% | +0.09% | +5.47% | |
| 25 | ✓ | Blackstone Inc. | Stock-Other | 1.36% | +0.08% | +1.63% | |
| 26 | MRK | Merck & Co., Inc. | Stock-Healthcare | 1.36% | +0.16% | +1.25% | |
| 27 | IP | International Paper Co | Stock-Consumer Disc | 1.36% | — | +1.66% | |
| 28 | FRCB | First Republic Bank/ca | Stock-Financials | 1.32% | — | — | |
| 29 | GSK | GSK plc ADRhedged | Stock-Healthcare | 1.32% | — | +1.23% | |
| 30 | CAT | Caterpillar INC | Stock-Industrials | 1.31% | +0.08% | -0.88% | |
| 31 | KEY | Keycorp | Stock-Financials | 1.26% | +1.21% | +2556.04% | |
| 32 | MO | Altria Group INC | Stock-Consumer Staples | 1.24% | — | +0.05% | |
| 33 | ✓ | Visa Inc. | Stock-Other | 1.24% | +0.37% | +47.58% | |
| 34 | AAPL | Apple INC | Stock-Tech | 1.20% | — | +3.16% | |
| 35 | KHC | The Kraft Heinz Company | Stock-Consumer Staples | 1.19% | — | -2.82% | |
| 36 | UNP | Union Pacific CORP | Stock-Industrials | 1.18% | +0.10% | -1.30% | |
| 37 | ✓ | Energy Transfer LP | Stock-Other | 1.14% | +0.30% | +139.98% | |
| 38 | REYN | Reynolds Consumer Products Inc. | Stock-Other | 1.13% | — | -0.61% | |
| 39 | MS | Morgan Stanley | Stock-Financials | 1.12% | -0.14% | -9.46% | |
| 40 | HD | Home Depot INC | Stock-Consumer Disc | 1.12% | — | -0.24% | |
| 41 | INTC | Intel CORP | Stock-Tech | 1.10% | — | +1.20% | |
| 42 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 1.09% | +1.09% | NEW | |
| 43 | ✓ | AT & T, Inc. New | Stock-Other | 1.07% | — | +1.22% | |
| 44 | CVX | Chevron CORP | Stock-Energy | 1.03% | -0.12% | -4.61% | |
| 45 | ✓ | Yahoo INC | Stock-Other | 1.03% | -0.19% | -7.82% | |
| 46 | ✓ | ConocoPhillips | Stock-Other | 1.00% | — | -3.40% | |
| 47 | NUE | Nucor CORP | Stock-Materials | 0.93% | — | +0.65% | |
| 48 | XOM | Exxon Mobil CORP | Stock-Energy | 0.91% | — | -4.36% | |
| 49 | KKR | KKR & Co. Inc. | Stock-Financials | 0.90% | — | -0.67% | |
| 50 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.90% | +0.11% | +0.01% |
Not enough priced holdings yet to compute performance
Grassi Investment Management LLC's most significant position changes for 2014-03-31: New buy: Roche Holdings Ltd-spons Adr (RHHBY); Sold out: Seadrill Limited (SDRL); New buy: Comcast Corp-class A (CMCSA); Sold out: Transocean Ltd. (RIG); New buy: Seagate Technology Holdings plc (STX).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | KEY | Keycorp | +1.2% | +2556.04% | Add |
| 2 | ✓ | Northstar Rlty Fin | +0.5% | +141.73% | Add |
| 3 | ✓ | Visa Inc. | +0.4% | +47.58% | Add |
| 4 | BAC | Bank Of America CORP | +0.4% | +2.79% | Add |
| 5 | ✓ | Energy Transfer LP | +0.3% | +139.98% | Add |
| 6 | DOW | Dow Chem Co | +0.2% | +5.86% | Add |
| 7 | PLD | Prologis INC | +0.2% | -0.26% | Trim |
| 8 | AMAT | Applied Materials INC | +0.2% | -3.49% | Trim |
| 9 | MRK | Merck & Co., Inc. | +0.2% | +1.25% | Add |
| 10 | WFC | Wells Fargo & Co | +0.2% | -0.42% | Trim |
| 11 | LMT | Lockheed Martin CORP | +0.1% | — | Unchanged |
| 12 | JNJ | Johnson & Johnson | +0.1% | +1.44% | Add |
| 13 | LLY | Eli Lilly & Co | +0.1% | +0.01% | Add |
| 14 | UNP | Union Pacific CORP | +0.1% | -1.30% | Trim |
| 15 | PFE | Pfizer INC | +0.1% | +2.14% | Add |
| 16 | UTXZ | United Tech CORP | +0.1% | +5.47% | Add |
| 17 | DUK | Du Pont E I De Nemour&Co | +0.1% | +2.94% | Add |
| 18 | TNK | Teekay Tankers Ltd. | +0.1% | +3.80% | Add |
| 19 | CAT | Caterpillar INC | +0.1% | -0.88% | Trim |
| 20 | ✓ | Blackstone Inc. | +0.1% | +1.63% | Add |
| 21 | ✓ | Dfa US Core Equity I | -0.1% | -49.22% | Trim |
| 22 | CVX | Chevron CORP | -0.1% | -4.61% | Trim |
| 23 | BA | Boeing Co/the | -0.1% | +2.02% | Add |
| 24 | MS | Morgan Stanley | -0.1% | -9.46% | Trim |
| 25 | C | Citigroup Inc. | -0.2% | +1.21% | Add |
| 26 | ✓ | Yahoo INC | -0.2% | -7.82% | Trim |
| 27 | PG | Procter & Gamble Co/the | -0.2% | -2.48% | Trim |
| 28 | AEP | American Electric Power Company, Inc. | -0.2% | +0.81% | Add |
| 29 | ✓ | Freeport-McMoRan Inc. | -0.2% | -32.05% | Trim |
| 30 | AIG | American International Group | -0.3% | -15.18% | Trim |
| 31 | HIG | Hartford Insurance Group INC | -0.3% | -28.17% | Trim |
| 32 | WES | Western Midstream Partners, LP | -0.6% | -72.12% | Trim |
| 33 | ✓ | General Motors CORP | -1.1% | -89.31% | Trim |
| 34 | TRV | Travelers Cos Inc/the | -1.3% | -82.34% | Trim |
| 35 | RHHBY | Roche Holdings Ltd-spons Adr | — | NEW | New buy |
| 36 | SDRL | Seadrill Limited | — | EXIT | Sold out |
| 37 | CMCSA | Comcast Corp-class A | — | NEW | New buy |
| 38 | RIG | Transocean Ltd. | — | EXIT | Sold out |
| 39 | STX | Seagate Technology Holdings plc | — | NEW | New buy |
| 40 | ✓ | MarkWest Energy | — | EXIT | Sold out |
| 41 | EAT | Brinker International INC | — | NEW | New buy |
| 42 | ✓ | Lorillard INC | — | NEW | New buy |
| 43 | KMI | Kinder Morgan INC | — | EXIT | Sold out |
| 44 | MAR | Marriott International -cl A | — | NEW | New buy |
| 45 | ✓ | Bunge Limited | — | NEW | New buy |
| 46 | ✓ | Forward Inds INC N Y | — | EXIT | Sold out |
| 47 | TCRDUSD | First Eagle Alternative Capi | — | EXIT | Sold out |
| 48 | HAL | Halliburton Co | — | EXIT | Sold out |
| 49 | SNH1EUR | Senior Housing Prop Trust | — | EXIT | Sold out |
| 50 | DFIVX | Dfa International Value | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2014-03-31 | 2014-04-30 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-04-30 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2014-04-30 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-02 | 13F-HR | View on EDGAR |
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