13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q4 2019. See the latest, Q2 2026 →
Reported value
$98.96B
+8.6% on the quarter before
Positions
898
83 new · 88 sold out
Top 10
27.5%
of the value
Est. gain
+$9.39B
on stocks held all quarter
Est. return
+10.7%
on those stocks since Q3 2019
Positions as of Dec 31, 2019, 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, 48% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2019. Striped tiles are options.
Largest buys
Since Q3 2019, 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.
- Trip Com Group Ltd~$327.2MNew · 0.0% → 0.3%+9,755,348 shares
- Vanguard Fds Int-Term Corp~$274.2MAdded · 2.3% → 2.4%+3,002,063 shares
- Fi Enhanced Lrg Cap Growth Gs~$152.7MAdded · 0.9% → 1.2%+1,055,857 shares
- Fi Enhanced Glbl High Yld Ubs~$74.2MAdded · 1.8% → 1.9%+356,426 shares
- Lumentum~$50.7MAdded · 0.0% → 0.1%+639,690 shares
- Invesco Qqq Trust Series 1~$44.0MAdded · 0.2% → 0.2%+206,930 shares
- Ishares Tr Mbs ETF~$39.3MAdded · 0.8% → 0.7%+363,982 shares
- Onto Innovation~$32.6MNew · 0.0% → 0.0%+892,207 shares
- Dbx ETF Tr Usd Hy Corp~$29.4MAdded · 0.2% → 0.2%+584,130 shares
- Vanguard Funds Plc Ftse Emergi~$26.5MAdded · 0.0% → 0.0%+432,901 shares
Largest sells
Since Q3 2019, 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.
- Ctrip Com Intl Ltd ADR~$304.6MSold out · 0.3% → 0.0%−10,398,735 shares
- TSMC~$187.1MCut · 1.7% → 1.8%−3,219,585 shares
- Vale S A ADR~$68.8MCut · 0.4% → 0.4%−5,213,782 shares
- Petroleo Brasileiro Sa Pet ADR~$67.6MCut · 0.6% → 0.6%−4,239,561 shares
- Wright Med Group N V~$61.9MSold out · 0.1% → 0.0%−2,999,776 shares
- Alibaba~$60.5MCut · 2.5% → 2.8%−285,289 shares
- Hdfc Bank Ltd ADR~$59.5MCut · 0.5% → 0.4%−938,420 shares
- Jd Com Inc ADR~$55.3MCut · 0.4% → 0.4%−1,568,295 shares
- Itau Unibanco Hldg Sa Spon ADR~$55.0MCut · 0.5% → 0.4%−6,005,679 shares
- Ishares Tr Iboxx Inv Cp ETF~$50.8MCut · 2.2% → 2.0%−397,300 shares
Holdings
As of Dec 31, 2019. Changes are in shares against Sep 30, 2019, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares −0.05% · price +31.1% | 4.2% | $4.12B | +$977.9M | ||||||||
| Visa Inc.COM · shares +0.01% · price +9.2% | 3.8% | $3.80B | +$321.0M | ||||||||
| MicrosoftCOM · shares −0.1% · price +13.4% | 3.4% | $3.36B | +$398.2M | ||||||||
| AmazonCOM · shares +0.2% · price +6.4% | 3.3% | $3.26B | +$197.2M | ||||||||
| AlibabaCOM · shares −2.1% · price +26.8% | 2.8% | $2.80B | +$591.4M | ||||||||
| Vanguard Fds Int-Term CorpCOM · shares +13% · price +0.1% | 2.4% | $2.34B | +$2.0M | ||||||||
| AlphabetCOM · shares −0.03% · price +9.7% | 2.0% | $1.97B | +$173.7M | ||||||||
| Ishares Tr Iboxx Inv Cp ETFCOM · shares −2.6% · price +0.4% | 2.0% | $1.94B | +$7.3M | ||||||||
| Fi Enhanced Glbl High Yld UbsCOM · shares +4.1% · price +13.6% | 1.9% | $1.89B | +$216.5M | ||||||||
| TSMCCOM · shares −9.5% · price +25.0% | 1.8% | $1.78B | +$356.8M | ||||||||
| Pfizer IncCOM · shares +0.2% · price +9.0% | 1.8% | $1.78B | +$147.2M | ||||||||
| Fi Enhanced Lrg Cap Growth CsCOM · shares −2.6% · price +20.5% | 1.8% | $1.77B | +$302.1M | ||||||||
| Johnson& JohnsonCOM · shares +0.1% · price +12.7% | 1.8% | $1.76B | +$199.2M | ||||||||
| American Express CoCOM · shares +1.1% · price +5.3% | 1.7% | $1.71B | +$84.5M | ||||||||
| IntelCOM · shares −0.3% · price +16.1% | 1.6% | $1.62B | +$224.7M | ||||||||
| CiscoCOM · shares −0.5% · price −2.9% | 1.5% | $1.46B | −$44.0M | ||||||||
| AdobeCOM · shares +1.2% · price +19.4% | 1.4% | $1.36B | +$218.5M | ||||||||
| Home Depot IncCOM · shares −0.5% · price −5.9% | 1.3% | $1.33B | −$83.3M | ||||||||
| Fi Enhanced Lrg Cap Growth UbsCOM · shares −2.2% · price +20.2% | 1.3% | $1.31B | +$220.3M | ||||||||
| Walmart IncCOM · shares +1.0% · price +0.1% | 1.3% | $1.31B | +$1.7M | ||||||||
| Tencent Hldgs Ltd ADR ADRCOM · shares +0.9% · price +14.4% | 1.2% | $1.24B | +$154.5M | ||||||||
| Fi Enhanced Glbl High Yld BcsbCOM · shares −2.2% · price +13.8% | 1.2% | $1.23B | +$148.3M | ||||||||
| Fi Enhanced Lrg Cap Growth GsCOM · shares +15% · price +20.3% | 1.2% | $1.19B | +$174.7M | ||||||||
| SalesforceCOM · shares +0.03% · price +9.6% | 1.2% | $1.18B | +$103.2M | ||||||||
| Softbank Group Corp ADR ADRCOM · shares +0.2% · price +11.6% | 1.1% | $1.12B | +$116.2M | ||||||||
| Total · 898 positions | 100% | $98.96B | +$9.39B |
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 2019 to Q4 2019: 744 stocks held throughout, up $9.39B (+10.7%).
- Apple+$977.9M+31%
- Alibaba+$591.4M+27%
- Microsoft+$398.2M+13%
- TSMC+$356.8M+25%
- Visa Inc.+$321.0M+9%
- Oracle−$32.7M−4%
- Infosys Ltd ADR−$35.1M−9%
- Cisco−$44.0M−3%
- Home Depot Inc−$83.3M−6%
- Anheuser Busch Inbev Sa/Nv ADR−$92.1M−14%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 1 split 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 ↗ |