13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q3 2018. See the latest, Q2 2026 →
Reported value
$82.37B
+6.9% on the quarter before
Positions
870
81 new · 73 sold out
Top 10
27.3%
of the value
Est. gain
+$3.58B
on stocks held all quarter
Est. return
+4.9%
on those stocks since Q2 2018
Positions as of Sep 30, 2018, 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, 47% of the reported value, each sized by its share, colored by what the fund did with it since Q2 2018. Striped tiles are options.
Largest buys
Since Q2 2018, 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.
- Total S A ADR~$1.01BAdded · 0.0% → 1.3%+15,759,310 shares
- Vanguard Fds Int-Term Corp~$352.6MAdded · 0.7% → 1.0%+4,221,367 shares
- Bp Plc Sponsored ADR ADR~$300.9MAdded · 0.0% → 0.4%+6,527,101 shares
- Rio Tinto Plc ADR~$263.7MAdded · 0.3% → 0.6%+5,169,326 shares
- Vale S A ADR~$263.7MAdded · 0.3% → 0.6%+17,769,298 shares
- Freeport-McMoRan~$247.5MAdded · 0.3% → 0.5%+17,780,072 shares
- Infosys Ltd ADR~$199.5MAdded · 0.5% → 0.5%+19,614,497 shares
- Fi Enhanced Lrg Cap Growth Gs~$177.2MAdded · 0.2% → 0.4%+1,363,123 shares
- Southern Copper Corp Com~$151.0MAdded · 0.1% → 0.2%+3,500,463 shares
- Royal Dutch Shell Plc ADR~$131.8MAdded · 0.5% → 0.6%+1,933,865 shares
Largest sells
Since Q2 2018, 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.
- Berkshire Hathaway Inc Cl B~$638.5MCut · 0.8% → 0.1%−2,981,958 shares
- Roche Hldg Ltd ADR~$522.3MCut · 0.6% → 0.0%−17,167,531 shares
- Bayer A G ADR~$441.2MCut · 0.7% → 0.0%−19,859,783 shares
- Johnson& Johnson~$256.9MCut · 2.1% → 1.9%−1,859,523 shares
- Ishares Tr Iboxx Inv Cp ETF~$188.8MCut · 3.5% → 3.0%−1,642,979 shares
- Daimler Ag Unsponsor ADR ADR~$166.1MCut · 0.2% → 0.0%−10,577,064 shares
- Vodafone Group Plc New ADR~$153.4MCut · 0.9% → 0.6%−7,067,693 shares
- Barclays Plc ADR~$95.3MCut · 0.3% → 0.2%−10,648,140 shares
- Lloyds Banking Group Plc ADR~$89.5MCut · 0.5% → 0.3%−29,436,675 shares
- Ishares Inc Msci Taiwan ETF~$79.3MCut · 0.2% → 0.1%−2,103,264 shares
Holdings
As of Sep 30, 2018. Changes are in shares against Jun 30, 2018, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AmazonCOM · shares +0.4% · price +17.8% | 3.8% | $3.14B | +$473.9M | ||||||||
| AppleCOM · shares +1.6% · price +21.9% | 3.4% | $2.79B | +$494.0M | ||||||||
| Visa Inc.COM · shares +2.3% · price +13.3% | 3.3% | $2.71B | +$312.0M | ||||||||
| Ishares Tr Iboxx Inv Cp ETFCOM · shares −7.0% · price +0.3% | 3.0% | $2.51B | +$7.9M | ||||||||
| Fi Enhanced Lrg Cap Growth CsCOM · shares −1.2% · price +16.9% | 2.8% | $2.29B | +$331.7M | ||||||||
| MicrosoftCOM · shares +2.4% · price +16.0% | 2.6% | $2.15B | +$288.8M | ||||||||
| AlibabaCOM · shares +0.4% · price −11.2% | 2.2% | $1.81B | −$227.8M | ||||||||
| Pfizer IncCOM · shares +2.6% · price +21.5% | 2.2% | $1.78B | +$307.3M | ||||||||
| Fi Enhanced Lrg Cap Growth UbsCOM · shares −1.5% · price +16.6% | 2.0% | $1.68B | +$238.2M | ||||||||
| Fi Enhanced Glbl High Yld BcsbCOM · shares −0.1% · price +7.9% | 2.0% | $1.61B | +$117.3M | ||||||||
| Johnson& JohnsonCOM · shares −14% · price +13.9% | 1.9% | $1.56B | +$189.5M | ||||||||
| TSMCCOM · shares +2.8% · price +20.8% | 1.9% | $1.55B | +$259.8M | ||||||||
| AlphabetCOM · shares +3.3% · price +6.9% | 1.9% | $1.53B | +$95.8M | ||||||||
| Fi Enhanced Glbl High Yld UbsCOM · shares +7.3% · price +8.7% | 1.8% | $1.49B | +$110.6M | ||||||||
| IntelCOM · shares +3.1% · price −4.9% | 1.4% | $1.14B | −$56.7M | ||||||||
| Softbank Group Corp ADR ADRCOM · shares +3.1% · price +40.3% | 1.4% | $1.13B | +$314.3M | ||||||||
| American Express CoCOM · shares +2.4% · price +8.7% | 1.3% | $1.10B | +$85.8M | ||||||||
| Total S A ADRCOM · shares +2,994% · price +6.3% | 1.3% | $1.05B | +$2.0M | ||||||||
| CiscoCOM · shares +12% · price +13.1% | 1.2% | $977.9M | +$101.0M | ||||||||
| Walmart IncCOM · shares +3.4% · price +9.6% | 1.1% | $932.7M | +$79.4M | ||||||||
| Home Depot IncCOM · shares +2.8% · price +6.2% | 1.1% | $921.0M | +$52.1M | ||||||||
| Vanguard Fds Int-Term CorpCOM · shares +70% · price +0.0% | 1.0% | $853.7M | +$59,997 | ||||||||
| Procter And Gamble CoCOM · shares +1.9% · price +6.6% | 1.0% | $835.3M | +$50.9M | ||||||||
| Sap Se ADRCOM · shares +3.1% · price +6.3% | 1.0% | $831.0M | +$48.1M | ||||||||
| Tencent Hldgs Ltd ADR ADRCOM · shares +3.1% · price −17.7% | 0.95% | $780.6M | −$162.9M | ||||||||
| Total · 870 positions | 100% | $82.37B | +$3.58B |
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 Q2 2018 to Q3 2018: 741 stocks held throughout, up $3.58B (+4.9%).
- Apple+$494.0M+22%
- Amazon+$473.9M+18%
- Fi Enhanced Lrg Cap Growth Cs+$331.7M+17%
- Softbank Group Corp ADR ADR+$314.3M+40%
- Visa Inc.+$312.0M+13%
- Ctrip Com Intl Ltd ADR−$101.0M−22%
- Jd Com Inc ADR−$133.9M−33%
- Tencent Hldgs Ltd ADR ADR−$162.9M−18%
- Infosys Ltd ADR−$200.2M−48%
- Alibaba−$227.8M−11%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
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 ↗ |