13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q4 2017. See the latest, Q2 2026 →
Reported value
$76.56B
+7.4% on the quarter before
Positions
922
143 new · 64 sold out
Top 10
23.9%
of the value
Est. gain
+$3.23B
on stocks held all quarter
Est. return
+4.7%
on those stocks since Q3 2017
Positions as of Dec 31, 2017, from Fisher Investments's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
The 24 largest positions, 43% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2017. Striped tiles are options.
Largest buys
Since Q3 2017, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Costco Whsl Corp New~$413.5MAdded · 0.0% → 0.6%+2,221,445 shares
- Wal-Mart Stores Inc Com~$260.5MAdded · 0.7% → 1.1%+2,637,516 shares
- Nestle S A ADR~$249.3MAdded · 0.0% → 0.3%+2,899,516 shares
- Unilever N V Nys~$215.3MAdded · 0.0% → 0.3%+3,822,405 shares
- Fi Enhanced Glbl High Yld Ubs~$126.9MAdded · 1.3% → 1.4%+737,458 shares
- Fi Enhanced Lrg Cap Growth Cs~$113.3MAdded · 1.9% → 2.2%+496,910 shares
- Tokyo Electron Ltd ADR ADR~$89.2MNew · 0.0% → 0.1%+1,969,212 shares
- Banco Bradesco S A Sp ADR ADR~$86.9MAdded · 0.4% → 0.4%+8,491,079 shares
- Yaskawa Elec Corp ADR~$86.9MNew · 0.0% → 0.1%+986,213 shares
- Itau Unibanco Hldg Sa Spon ADR~$85.2MAdded · 0.4% → 0.4%+6,553,611 shares
Largest sells
Since Q3 2017, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Bank Amer Corp~$467.4MCut · 0.6% → 0.0%−15,833,935 shares
- Home Depot Inc~$286.6MCut · 1.3% → 1.0%−1,512,246 shares
- Walt Disney Company (The)~$246.1MCut · 0.6% → 0.3%−2,288,988 shares
- Jpmorgan Chase& Co~$242.7MCut · 1.0% → 0.7%−2,269,263 shares
- Comcast Corp New Cl A~$232.9MCut · 0.7% → 0.4%−5,815,649 shares
- Daimler Ag Unsponsor ADR ADR~$151.9MCut · 0.5% → 0.3%−1,794,505 shares
- Goldman Sachs~$85.1MCut · 0.3% → 0.2%−334,189 shares
- Bayerische Motoren Werke A ADR~$70.8MCut · 0.2% → 0.1%−2,034,484 shares
- Bancorpsouth Inc~$59.9MSold out · 0.1% → 0.0%−1,867,428 shares
- Mitsubishi Ufj Finl Group ADR~$47.6MCut · 0.1% → 0.0%−6,547,105 shares
Holdings
As of Dec 31, 2017. Changes are in shares against Sep 30, 2017, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Ishares Tr Iboxx Inv Cp ETFCOM · shares +2.5% · price +0.3% | 3.6% | $2.75B | +$7.3M | ||||||||
| AmazonCOM · shares +2.2% · price +21.6% | 2.7% | $2.10B | +$365.3M | ||||||||
| AppleCOM · shares +2.9% · price +9.8% | 2.5% | $1.90B | +$164.5M | ||||||||
| Visa Inc.COM · shares +2.8% · price +8.3% | 2.4% | $1.87B | +$140.2M | ||||||||
| AlibabaCOM · shares +3.7% · price −0.2% | 2.4% | $1.84B | −$2.9M | ||||||||
| Johnson& JohnsonCOM · shares +2.8% · price +7.5% | 2.2% | $1.69B | +$114.6M | ||||||||
| Fi Enhanced Glbl High Yld BcsCOM · shares −1.0% · price +5.6% | 2.2% | $1.66B | +$87.4M | ||||||||
| Fi Enhanced Lrg Cap Growth CsCOM · shares +7.4% · price +15.7% | 2.2% | $1.66B | +$209.3M | ||||||||
| MicrosoftCOM · shares +3.1% · price +14.8% | 1.9% | $1.45B | +$181.7M | ||||||||
| Fiig Eu EmFUND · shares +0.3% · price +5.7% | 1.8% | $1.39B | +$75.4M | ||||||||
| TSMCCOM · shares +0.2% · price +5.6% | 1.8% | $1.35B | +$71.2M | ||||||||
| Fi Enhanced Lrg Cap Growth UbsCOM · shares −0.9% · price +15.9% | 1.7% | $1.34B | +$182.8M | ||||||||
| Pfizer IncCOM · shares +3.6% · price +1.5% | 1.7% | $1.32B | +$18.3M | ||||||||
| American Express CoCOM · shares +2.8% · price +9.8% | 1.5% | $1.18B | +$102.2M | ||||||||
| AlphabetCOM · shares +3.9% · price +8.2% | 1.5% | $1.16B | +$84.8M | ||||||||
| Fi Enhanced Glbl High Yld UbsCOM · shares +13% · price +6.3% | 1.4% | $1.11B | +$57.9M | ||||||||
| IntelCOM · shares +2.5% · price +21.2% | 1.3% | $1.01B | +$171.9M | ||||||||
| Tencent Hldgs Ltd ADR ADRCOM · shares +2.1% · price +20.7% | 1.2% | $883.4M | +$148.2M | ||||||||
| Wal-Mart Stores Inc ComCOM · shares +43% · price +26.4% | 1.1% | $859.8M | +$125.1M | ||||||||
| Procter And Gamble CoCOM · shares +3.0% · price +1.0% | 1.1% | $840.7M | +$8.0M | ||||||||
| Vodafone Group Plc New ADRCOM · shares +4.6% · price +12.1% | 1.1% | $828.0M | +$85.4M | ||||||||
| Hdfc Bank Ltd ADRCOM · shares +0.9% · price +5.5% | 1.1% | $806.0M | +$41.7M | ||||||||
| Softbank Group Corp ADR ADRCOM · shares +6.0% · price −1.9% | 1.0% | $793.4M | −$14.3M | ||||||||
| Ubs Group AgCOM · shares +3.9% · price +7.2% | 1.0% | $789.1M | +$51.2M | ||||||||
| Siemens A G ADRCOM · shares +2.5% · price −1.0% | 1.0% | $770.6M | −$7.8M | ||||||||
| Total · 922 positions | 100% | $76.56B | +$3.23B |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q3 2017 to Q4 2017: 734 stocks held throughout, up $3.23B (+4.7%).
- Amazon+$365.3M+22%
- Fi Enhanced Lrg Cap Growth Cs+$209.3M+16%
- Fi Enhanced Lrg Cap Growth Ubs+$182.8M+16%
- Microsoft+$181.7M+15%
- Intel+$171.9M+21%
- Grupo Televisa Sa ADR−$59.8M−24%
- Glaxosmithkline Plc ADR−$65.6M−13%
- Ctrip Com Intl Ltd ADR−$84.7M−16%
- Sanofi ADR−$95.6M−14%
- General Electric Co−$143.8M−28%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 4 splits read into the share counts.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 4, 2026 | $335.83B+14% | SEC ↗ |
| Q1 2026 | May 5, 2026 | $294.89B+1% | SEC ↗ |
| Q4 2025 | Feb 9, 2026 | $292.99B+6% | SEC ↗ |
| Q3 2025 | Nov 12, 2025 | $276.29B+10% | SEC ↗ |
| Q2 2025 | Aug 13, 2025 | $251.89B+9% | SEC ↗ |
| Q1 2025 | May 14, 2025 | $231.00B−8% | SEC ↗ |
| Q4 2024 | Feb 5, 2025 | $251.33B+3% | SEC ↗ |
| Q3 2024 | Nov 12, 2024 | $244.02B+6% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $229.85B+7% | SEC ↗ |
| Q1 2024 | May 9, 2024 | $214.11B+13% | SEC ↗ |
| Q4 2023 | Mar 5, 2024 (amended) | $189.13B+7% | SEC ↗ |
| Q3 2023 | Nov 13, 2023 | $176.32B−3% | SEC ↗ |
| Q2 2023 | Dec 12, 2023 (amended) | $180.88B+10% | SEC ↗ |
| Q1 2023 | Dec 12, 2023 (amended) | $164.66B+11% | SEC ↗ |
| Q4 2022 | Feb 3, 2023 | $147.93B+11% | SEC ↗ |
| Q3 2022 | Nov 8, 2022 | $133.41B−6% | SEC ↗ |
| Q2 2022 | Aug 9, 2022 | $141.30B−17% | SEC ↗ |
| Q1 2022 | May 5, 2022 | $169.49B−5% | SEC ↗ |
| Q4 2021 | Feb 2, 2022 | $178.57B+11% | SEC ↗ |
| Q3 2021 | Oct 26, 2021 | $161.00B+1% | SEC ↗ |
| Q2 2021 | Jul 27, 2021 | $159.27B+12% | SEC ↗ |
| Q1 2021 | Apr 27, 2021 | $141.96B+6% | SEC ↗ |
| Q4 2020 | Jan 29, 2021 | $133.48B+17% | SEC ↗ |
| Q3 2020 | Nov 12, 2020 (amended) | $114.26B+12% | SEC ↗ |
| Q2 2020 | Aug 7, 2020 | $102.46B+27% | SEC ↗ |
| Q1 2020 | Apr 28, 2020 | $80.64B−19% | SEC ↗ |
| Q4 2019 | Feb 12, 2020 | $98.96B+9% | SEC ↗ |
| Q3 2019 | Oct 29, 2019 | $91.13B+1% | SEC ↗ |
| Q2 2019 | Jul 30, 2019 | $90.45B+6% | SEC ↗ |
| Q1 2019 | Apr 22, 2019 (amended) | $85.30B+17% | SEC ↗ |
| Q4 2018 | Jan 25, 2019 | $73.22B−11% | SEC ↗ |
| Q3 2018 | Oct 23, 2018 | $82.37B+7% | SEC ↗ |
| Q2 2018 | Jul 9, 2018 | $77.02B+2% | SEC ↗ |
| Q1 2018 | May 10, 2018 (amended) | $75.40B−2% | SEC ↗ |
| Q4 2017 | Jan 24, 2018 | $76.56B+7% | SEC ↗ |
| Q3 2017 | Oct 17, 2017 | $71.30B+8% | SEC ↗ |
| Q2 2017 | Jul 12, 2017 | $66.32B+6% | SEC ↗ |
| Q1 2017 | Apr 24, 2017 | $62.44B+9% | SEC ↗ |
| Q4 2016 | Jan 10, 2017 | $57.43B+2% | SEC ↗ |
| Q3 2016 | Oct 11, 2016 | $56.32B+4% | SEC ↗ |
| Q2 2016 | Jul 12, 2016 | $53.89B+2% | SEC ↗ |
| Q1 2016 | Apr 15, 2016 | $52.63B | SEC ↗ |