Grassi Investment Management

SANTA CLARA, CA · CIK 1608531 · 13F filing filed 2025-07-21

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Others nearbySanta Clara, CA

$1.3bn reported value +16.3% vs Q1 2025

128positions

56.7%in top 10

7 new 23 added 61 reduced 1 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	1,653,100	$261.2m20.78%	20.78%	Reduced -7.3k	-7,300 -0.4%
2	MICROSOFT CORP COM MSFT	MSFT	159,643	$79.4m6.32%	6.32%	Reduced -1.8k	-1,849 -1.1%
3	BROADCOM LTD SHS SHS		265,630	$73.2m5.82%	5.82%	Reduced -8.1k	-8,125 -3.0%
4	APPLE INC COM AAPL	AAPL	330,171	$67.7m5.39%	5.39%	Reduced -1.2k	-1,199 -0.4%
5	ELI LILLY & CO COM LLY	LLY	79,927	$62.3m4.96%	4.96%	Added +200	+200 0.2%
6	APPLIED MATLS INC COM AMAT	AMAT	273,851	$50.1m3.99%	3.99%	Reduced -1.1k	-1,050 -0.4%
7	VISA INC COM CL A V	V	98,967	$35.1m2.80%	2.80%	Reduced -249	-249 -0.2%
8	JPMORGAN CHASE & CO COM JPM	JPM	104,353	$30.3m2.41%	2.41%	Reduced -597	-597 -0.6%
9	PROLOGIS INC. COM PLD	PLD	256,075	$26.9m2.14%	2.14%	Unchanged
10	CATERPILLAR INC COM CAT	CAT	66,904	$26.0m2.07%	2.07%	Unchanged
11	ORACLE CORP COM ORCL	ORCL	95,645	$20.9m1.66%	1.66%	Reduced -2.5k	-2,527 -2.6%
12	ADVANCED MICRO DEVICES INC COM AMD	AMD	142,895	$20.3m1.61%	1.61%	Reduced -1.1k	-1,085 -0.8%
13	BANK AMERICA CORP COM BAC	BAC	423,000	$20.0m1.59%	1.59%	Reduced -1.8k	-1,750 -0.4%
14	ABBVIE INC COM ABBV	ABBV	96,025	$17.8m1.42%	1.42%	Reduced -1.2k	-1,225 -1.3%
15	BLACKSTONE GROUP L P COM UNIT LTD BX	BX	113,750	$17.0m1.35%	1.35%	Reduced -698	-698 -0.6%
16	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	57,468	$16.9m1.35%	1.35%	Reduced -782	-782 -1.3%
17	MORGAN STANLEY COM NEW MS	MS	120,050	$16.9m1.35%	1.35%	Reduced -700	-700 -0.6%
18	PROCTER AND GAMBLE CO COM PG	PG	104,400	$16.6m1.32%	1.32%	Unchanged
19	ABBOTT LABS COM ABT	ABT	121,433	$16.5m1.31%	1.31%	Reduced -973	-973 -0.8%
20	AMAZON COM INC COM AMZN	AMZN	70,560	$15.5m1.23%	1.23%	Reduced -343	-343 -0.5%
21	WELLS FARGO CO NEW COM WFC	WFC	185,369	$14.9m1.18%	1.18%	Added +3	+3 0.0%
22	MARRIOTT INTL INC NEW CL A MAR	MAR	50,000	$13.7m1.09%	1.09%	Unchanged
23	HONEYWELL INTL INC COM COM		57,648	$13.4m1.07%	1.07%	Reduced -599	-599 -1.0%
24	HOME DEPOT INC COM HD	HD	36,330	$13.3m1.06%	1.06%	Added +75	+75 0.2%
25	LOCKHEED MARTIN CORP COM LMT	LMT	25,737	$11.9m0.95%	0.95%	Reduced -100	-100 -0.4%
26	VULCAN MATLS CO COM VMC	VMC	44,752	$11.7m0.93%	0.93%	Reduced -200	-200 -0.4%
27	UNION PAC CORP COM UNP	UNP	49,983	$11.5m0.91%	0.91%	Unchanged
28	RIO TINTO PLC SPONSORED ADR RIO	RIO	192,969	$11.3m0.90%	0.90%	Reduced -1.9k	-1,935 -1.0%
29	AMERICAN TOWER CORP NEW COM AMT	AMT	49,967	$11.0m0.88%	0.88%	Reduced -550	-550 -1.1%
30	SERVICENOW INC COM NOW	NOW	10,555	$10.9m0.86%	0.86%	Reduced -115	-115 -1.1%
31	SCHWAB CHARLES CORP COM SCHW	SCHW	117,018	$10.7m0.85%	0.85%	Reduced -1.5k	-1,500 -1.3%
32	UBER TECHNOLOGIES INC COM UBER	UBER	110,550	$10.3m0.82%	0.82%	Reduced -3.0k	-2,975 -2.6%
33	WALMART INC COM WMT	WMT	101,722	$9.9m0.79%	0.79%	Unchanged
34	SNOWFLAKE INC CL A SNOW	SNOW	43,450	$9.7m0.77%	0.77%	Reduced -37.8k	-37,800 -46.5%
35	BOEING CO COM BA	BA	45,007	$9.4m0.75%	0.75%	Added +4.3k	+4,300 10.6%
36	DIGITAL RLTY TR INC COM DLR	DLR	53,740	$9.4m0.75%	0.75%	Reduced -550	-550 -1.0%
37	SALESFORCE INC COM CRM	CRM	33,614	$9.2m0.73%	0.73%	Added +100	+100 0.3%
38	JOHNSON & JOHNSON COM JNJ	JNJ	58,125	$8.9m0.71%	0.71%	Reduced -200	-200 -0.3%
39	Merck & Co Inc COM COM		104,417	$8.3m0.66%	0.66%	Reduced -448	-448 -0.4%
40	CHEVRON CORP NEW COM CVX	CVX	55,996	$8.0m0.64%	0.64%	Unchanged
41	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	28,703	$7.3m0.58%	0.58%	Reduced -1.4k	-1,398 -4.6%
42	DISNEY WALT CO COM DIS	DIS	58,090	$7.2m0.57%	0.57%	Reduced -250	-250 -0.4%
43	AMERICAN EXPRESS CO COM AXP	AXP	22,060	$7.0m0.56%	0.56%	Unchanged
44	VERTIV HOLDINGS CO COM CL A VRT	VRT	51,435	$6.6m0.53%	0.53%	Added +3.5k	+3,535 7.4%
45	CONSTELLATION BRANDS INC CL A STZ	STZ	39,589	$6.4m0.51%	0.51%	Reduced -1.4k	-1,400 -3.4%
46	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	11,346	$6.3m0.50%	0.50%	Added +82	+82 0.7%
47	ALPHABET INC CAP STK CL A GOOGL	GOOGL	33,549	$5.9m0.47%	0.47%	Reduced -21.5k	-21,475 -39.0%
48	COSTCO WHSL CORP NEW COM COST	COST	5,408	$5.4m0.43%	0.43%	Unchanged
49	DELL INC COM COM		43,515	$5.3m0.42%	0.42%	Added +3.0k	+3,040 7.5%
50	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	45,955	$5.3m0.42%	0.42%	Reduced -450	-450 -1.0%
51	ALTRIA GROUP INC COM MO	MO	89,286	$5.2m0.42%	0.42%	Reduced -3.5k	-3,500 -3.8%
52	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	107,610	$5.0m0.40%	0.40%	Reduced -750	-750 -0.7%
53	PEPSICO INC COM PEP	PEP	37,350	$4.9m0.39%	0.39%	Added +150	+150 0.4%
54	COMCAST CORP NEW CL A CMCSA	CMCSA	133,400	$4.8m0.38%	0.38%	Unchanged
55	BOSTON SCIENTIFIC CORP COM BSX	BSX	38,250	$4.1m0.33%	0.33%	Reduced -350	-350 -0.9%
56	SIMON PPTY GROUP INC NEW COM SPG	SPG	20,798	$3.3m0.27%	0.27%	Reduced -1.2k	-1,245 -5.7%
57	SELECT SECTOR SPDR TR INDL XLI	XLI	22,394	$3.3m0.26%	0.26%	Reduced -649	-649 -2.8%
58	WORKDAY INC CL A WDAY	WDAY	13,160	$3.2m0.25%	0.25%	Reduced -300	-300 -2.2%
59	GENERAL DYNAMICS CORP COM GD	GD	10,650	$3.1m0.25%	0.25%	Reduced -575	-575 -5.1%
60	VISTRA CORP COM VST	VST	14,220	$2.8m0.22%	0.22%	Added +1.7k	+1,745 14.0%
61	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	17,713	$2.4m0.19%	0.19%	Reduced -1.5k	-1,470 -7.7%
62	MARVELL TECHNOLOGY INC COM MRVL	MRVL	29,375	$2.3m0.18%	0.18%	Added +2.0k	+2,050 7.5%
63	EXXON MOBIL CORP COM XOM	XOM	20,800	$2.2m0.18%	0.18%	Unchanged
64	3M CO COM MMM	MMM	13,100	$2.0m0.16%	0.16%	Unchanged
65	STARWOOD PPTY TR INC COM STWD	STWD	95,700	$1.9m0.15%	0.15%	Added +60.0k	+60,000 168.1%
66	PALO ALTO NETWORKS INC COM PANW	PANW	8,375	$1.7m0.14%	0.14%	Reduced -25	-25 -0.3%
67	ROYAL CARIBBEAN GROUP COM RCL	RCL	4,575	$1.4m0.11%	0.11%	Added +25	+25 0.6%
68	ALLIANCE RESOURCE PARTNERS L UT LTD PART ARLP	ARLP	52,000	$1.4m0.11%	0.11%	Unchanged
69	ISHARES TR RUSSELL 2000 ETF IWM	IWM	6,132	$1.3m0.11%	0.11%	Reduced -575	-575 -8.6%
70	TESLA INC COM TSLA	TSLA	3,875	$1.2m0.10%	0.10%	Reduced -65	-65 -1.6%
71	ALPHABET INC CAP STK CL C GOOG	GOOG	6,900	$1.2m0.10%	0.10%	Unchanged
72	SELECT SECTOR SPDR TR SBI CONS DISCR XLY	XLY	5,580	$1.2m0.10%	0.10%	Reduced -406	-406 -6.8%
73	META PLATFORMS INC CL A META	META	1,590	$1.2m0.09%	0.09%	Unchanged
74	WESTERN GAS PARTNERS LP COM UNIT LP IN COM UNIT LP IN		30,000	$1.2m0.09%	0.09%	New
75	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	34,900	$1.1m0.09%	0.09%	Reduced -2.5k	-2,500 -6.7%
76	RTX CORPORATION COM RTX	RTX	7,390	$1.1m0.09%	0.09%	Unchanged
77	GLOBAL X FDS ARTIFICIAL ETF AIQ	AIQ	23,683	$1.0m0.08%	0.08%	Added +725	+725 3.2%
78	CROWN CASTLE INC COM CCI	CCI	8,282	$851.0k0.07%	0.07%	Reduced -596	-596 -6.7%
79	PFIZER INC COM PFE	PFE	34,531	$837.0k0.07%	0.07%	Reduced -621	-621 -1.8%
80	AMGEN INC COM AMGN	AMGN	2,600	$726.0k0.06%	0.06%	Unchanged
81	CAMDEN PPTY TR SH BEN INT CPT	CPT	6,409	$722.0k0.06%	0.06%	Unchanged
82	CLOROX CO DEL COM CLX	CLX	6,000	$720.0k0.06%	0.06%	Unchanged
83	AVALONBAY CMNTYS INC COM AVB	AVB	3,385	$689.0k0.05%	0.05%	Unchanged
84	SELECT SECTOR SPDR TR SBI MATERIALS XLB	XLB	7,538	$662.0k0.05%	0.05%	Reduced -718	-718 -8.7%
85	THE CIGNA GROUP COM CI	CI	2,000	$661.0k0.05%	0.05%	Unchanged
86	HEWLETT PACKARD CO COM COM		25,600	$626.0k0.05%	0.05%	Unchanged
87	SELECT SECTOR SPDR TR COMMUNICATION XLC	XLC	5,551	$602.0k0.05%	0.05%	Added +195	+195 3.6%
88	GAP INC COM GAP	GAP	26,600	$580.0k0.05%	0.05%	Unchanged
89	VERIZON COMMUNICATIONS INC COM VZ	VZ	12,747	$552.0k0.04%	0.04%	Added +6	+6 0.1%
90	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	1,078	$549.0k0.04%	0.04%	Added +28	+28 2.7%
91	VANGUARD 500 INDEX ADMIRAL COM VFIAX	VFIAX	955	$547.0k0.04%	0.04%	Added +3	+3 0.3%
92	AMPLIFY ETF TR AMPLIFY CYBERSEC HACK	HACK	6,085	$526.0k0.04%	0.04%	Added +125	+125 2.1%
93	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	25,600	$524.0k0.04%	0.04%	Unchanged
94	SPDR DOW JONES INDL AVERAGE UT SER 1 DIA	DIA	1,180	$520.0k0.04%	0.04%	Added +1	+1 0.1%
95	VIRTUS ETF TR II VIRTUS US QLTY JOET	JOET	11,855	$485.0k0.04%	0.04%	Reduced -3.1k	-3,145 -21.0%
96	UNITEDHEALTH GROUP INC COM UNH	UNH	1,517	$473.0k0.04%	0.04%	Added +167	+167 12.4%
97	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	8,550	$448.0k0.04%	0.04%	Reduced -2.8k	-2,844 -25.0%
98	ISHARES TR SELECT DIVID ETF DVY	DVY	3,167	$421.0k0.03%	0.03%	Reduced -161	-161 -4.8%
99	ISHARES TR EXPND TEC SC ETF IGM	IGM	3,650	$410.0k0.03%	0.03%	Reduced -605	-605 -14.2%
100	ONEOK INC NEW COM OKE	OKE	5,000	$408.0k0.03%	0.03%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
TC ENERGY CORP TRP	TRP	5,000	$236.0k5.0k shares