13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q1 2020. See the latest, Q2 2026 →
Reported value
$80.64B
−19% on the quarter before
Positions
866
86 new · 118 sold out
Top 10
31.2%
of the value
Est. gain
−$17.00B
on stocks held all quarter
Est. return
−19.1%
on those stocks since Q4 2019
Positions as of Mar 31, 2020, 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, 51% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2019. Striped tiles are options.
Largest buys
Since Q4 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.
- Mastercard~$743.4MAdded · 0.1% → 1.1%+3,077,542 shares
- Meta~$590.8MAdded · 0.1% → 0.8%+3,542,165 shares
- Salesforce~$519.2MAdded · 1.2% → 1.9%+3,606,319 shares
- Nike Inc~$485.0MAdded · 0.0% → 0.6%+5,862,137 shares
- Walt Disney Company (The)~$427.3MAdded · 0.0% → 0.5%+4,423,621 shares
- Netflix~$390.8MAdded · 0.7% → 1.5%+1,040,780 shares
- AMD~$324.4MNew · 0.0% → 0.4%+7,132,669 shares
- Adobe~$319.4MAdded · 1.4% → 2.0%+1,003,724 shares
- Intuitive Surgical~$316.9MAdded · 0.0% → 0.4%+640,001 shares
- Tencent Hldgs Ltd ADR ADR~$284.6MAdded · 1.2% → 1.9%+5,802,237 shares
Largest sells
Since Q4 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.
- Johnson& Johnson~$1.39BCut · 1.8% → 0.2%−10,612,976 shares
- Pfizer Inc~$1.30BCut · 1.8% → 0.2%−39,927,016 shares
- Softbank Group Corp ADR ADR~$820.0MCut · 1.1% → 0.1%−46,741,530 shares
- Ubs Group Ag~$472.8MCut · 0.7% → 0.0%−51,059,052 shares
- Hsbc Hldgs Plc ADR~$432.7MCut · 0.6% → 0.0%−15,448,961 shares
- Procter& Gamble Co~$402.0MCut · 0.7% → 0.2%−3,654,398 shares
- Cisco~$369.4MCut · 1.5% → 1.0%−9,397,997 shares
- Sumitomo Mitsui Finl Group ADR~$289.6MCut · 0.5% → 0.0%−60,463,887 shares
- Amazon~$286.7MCut · 3.3% → 3.9%−147,024 shares
- General Electric Co~$246.1MCut · 0.4% → 0.0%−30,994,487 shares
Holdings
As of Mar 31, 2020. Changes are in shares against Dec 31, 2019, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares −0.1% · price −13.4% | 4.4% | $3.56B | −$551.7M | ||||||||
| MicrosoftCOM · shares +0.6% · price +0.0% | 4.2% | $3.38B | +$213,369 | ||||||||
| Visa Inc.COM · shares +0.6% · price −14.3% | 4.1% | $3.27B | −$541.0M | ||||||||
| AmazonCOM · shares −8.3% · price +5.5% | 3.9% | $3.16B | +$165.0M | ||||||||
| AlibabaCOM · shares +0.6% · price −8.3% | 3.2% | $2.58B | −$232.2M | ||||||||
| Vanguard Fds Int-Term CorpCOM · shares +9.3% · price −4.6% | 3.0% | $2.43B | −$108.5M | ||||||||
| Ishares Tr Iboxx Inv Cp ETFCOM · shares −1.8% · price −3.5% | 2.3% | $1.84B | −$66.3M | ||||||||
| AlphabetCOM · shares +1.7% · price −13.2% | 2.2% | $1.74B | −$260.6M | ||||||||
| AdobeCOM · shares +24% · price −3.5% | 2.0% | $1.63B | −$47.8M | ||||||||
| SalesforceCOM · shares +50% · price −11.5% | 1.9% | $1.57B | −$135.6M | ||||||||
| Tencent Hldgs Ltd ADR ADRCOM · shares +23% · price +1.8% | 1.9% | $1.54B | +$21.7M | ||||||||
| IntelCOM · shares +3.0% · price −9.6% | 1.9% | $1.50B | −$154.7M | ||||||||
| TSMCCOM · shares −3.4% · price −17.7% | 1.8% | $1.42B | −$305.9M | ||||||||
| Walmart IncCOM · shares −2.5% · price −4.4% | 1.5% | $1.22B | −$56.1M | ||||||||
| NetflixCOM · shares +47% · price +16.0% | 1.5% | $1.22B | +$114.5M | ||||||||
| American Express CoCOM · shares +2.0% · price −31.2% | 1.5% | $1.20B | −$535.0M | ||||||||
| Fi Enhanced Lrg Cap Growth CsCOM · shares −2.8% · price −31.8% | 1.5% | $1.17B | −$547.4M | ||||||||
| Home Depot IncCOM · shares +1.7% · price −14.5% | 1.4% | $1.16B | −$193.4M | ||||||||
| Fi Enhanced Glbl High Yld UbsCOM · shares +3.3% · price −44.7% | 1.3% | $1.08B | −$843.6M | ||||||||
| Novo-Nordisk A S ADRCOM · shares +1.6% · price +4.0% | 1.1% | $922.6M | +$35.0M | ||||||||
| Fi Enhanced Lrg Cap Growth GsCOM · shares +12% · price −31.3% | 1.1% | $911.7M | −$371.8M | ||||||||
| Asml Holding N V NysCOM · shares +36% · price −11.6% | 1.1% | $903.6M | −$86.8M | ||||||||
| Fi Enhanced Lrg Cap Growth UbsCOM · shares −2.8% · price −30.5% | 1.1% | $886.3M | −$389.3M | ||||||||
| Costco Whsl Corp NewCOM · shares +1.2% · price −3.0% | 1.1% | $877.1M | −$26.7M | ||||||||
| MastercardCOM · shares +638% · price −19.1% | 1.1% | $860.0M | −$27.5M | ||||||||
| Total · 866 positions | 100% | $80.64B | −$17.00B |
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 Q4 2019 to Q1 2020: 708 stocks held throughout, down $17.00B (−19.1%).
- Amazon+$165.0M+6%
- Netflix+$114.5M+16%
- Stamps Com Inc+$44.5M+56%
- Jd Com Inc ADR+$43.1M+15%
- Novo-Nordisk A S ADR+$35.0M+4%
- Visa Inc.−$541.0M−14%
- Fi Enhanced Lrg Cap Growth Cs−$547.4M−32%
- Apple−$551.7M−13%
- Fi Enhanced Glbl High Yld Bcsb−$569.5M−48%
- Fi Enhanced Glbl High Yld Ubs−$843.6M−45%
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 ↗ |