13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q3 2020. See the latest, Q2 2026 →
Reported value
$114.26B
+12% on the quarter before
Positions
940
100 new · 62 sold out
Top 10
33.9%
of the value
Est. gain
+$9.49B
on stocks held all quarter
Est. return
+9.4%
on those stocks since Q2 2020
Positions as of Sep 30, 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, 53% of the reported value, each sized by its share, colored by what the fund did with it since Q2 2020. Striped tiles are options.
Largest buys
Since Q2 2020, 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.
- Vanguard Fds Int-Term Corp~$359.0MAdded · 2.9% → 3.0%+3,747,806 shares
- Ishares Global Energy ETF~$334.3MAdded · 0.1% → 0.3%+20,386,111 shares
- Ishares Msci Europe Fn ETF~$232.0MAdded · 0.1% → 0.2%+16,887,038 shares
- Apple~$167.6MAdded · 5.1% → 5.9%+1,447,128 shares
- Amazon~$136.4MAdded · 4.4% → 4.7%+43,326 shares
- Mcdonalds Corp~$117.8MAdded · 0.0% → 0.1%+536,880 shares
- Global Pmts Inc~$115.5MAdded · 0.0% → 0.1%+650,183 shares
- Visa Inc.~$111.7MAdded · 4.0% → 3.8%+558,513 shares
- Microsoft~$108.1MAdded · 4.3% → 4.1%+514,003 shares
- Salesforce~$97.0MAdded · 2.1% → 2.6%+386,087 shares
Largest sells
Since Q2 2020, 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.
- TSMC~$161.3MCut · 1.6% → 2.0%−1,990,194 shares
- Total Se-Spon ADR ADR~$152.8MCut · 0.8% → 0.5%−4,456,119 shares
- Royal Dutch Shell Plc ADR~$107.4MCut · 0.5% → 0.2%−4,265,905 shares
- Corelogic Inc~$99.1MSold out · 0.1% → 0.0%−1,474,167 shares
- Starbucks Corp~$88.7MCut · 0.6% → 0.5%−1,032,335 shares
- Ing Groep N.V. ADR~$88.7MCut · 0.3% → 0.2%−12,522,237 shares
- Mastercard~$78.2MCut · 1.1% → 1.1%−231,187 shares
- Fi Enhanced Lrg Cap Growth Ubs~$68.7MCut · 0.1% → 0.0%−151,607 shares
- Marvell Technology Group Ltd~$56.5MCut · 0.1% → 0.0%−1,424,356 shares
- Fi Enhanced Lrg Cap Growth Cs~$53.5MCut · 0.1% → 0.0%−118,885 shares
Holdings
As of Sep 30, 2020. Changes are in shares against Jun 30, 2020, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +2.5% · price +27.0% | 5.9% | $6.80B | +$1.41B | ||||||||
| AmazonCOM · shares +2.6% · price +14.1% | 4.7% | $5.33B | +$643.5M | ||||||||
| MicrosoftCOM · shares +2.4% · price +3.4% | 4.1% | $4.70B | +$149.0M | ||||||||
| Visa Inc.COM · shares +2.7% · price +3.5% | 3.8% | $4.31B | +$142.7M | ||||||||
| AlibabaCOM · shares −0.4% · price +36.3% | 3.5% | $3.97B | +$1.06B | ||||||||
| Vanguard Fds Int-Term CorpCOM · shares +12% · price +0.7% | 3.0% | $3.38B | +$20.8M | ||||||||
| SalesforceCOM · shares +3.4% · price +34.2% | 2.6% | $2.99B | +$736.3M | ||||||||
| AdobeCOM · shares +3.7% · price +12.7% | 2.4% | $2.72B | +$294.6M | ||||||||
| AlphabetCOM · shares +3.3% · price +3.4% | 2.0% | $2.32B | +$72.9M | ||||||||
| TSMCCOM · shares −6.7% · price +42.8% | 2.0% | $2.23B | +$668.5M | ||||||||
| Tencent Hldgs Ltd ADR ADRCOM · shares +3.2% · price +2.6% | 1.9% | $2.22B | +$54.5M | ||||||||
| PayPalCOM · shares +3.8% · price +13.1% | 1.7% | $1.99B | +$222.2M | ||||||||
| Ishares Tr Iboxx Inv Cp ETFCOM · shares +0.2% · price +0.2% | 1.7% | $1.99B | +$3.1M | ||||||||
| Home Depot IncCOM · shares +2.6% · price +10.9% | 1.6% | $1.82B | +$173.9M | ||||||||
| NetflixCOM · shares +3.7% · price +9.9% | 1.5% | $1.77B | +$153.2M | ||||||||
| Walmart IncCOM · shares +2.6% · price +16.8% | 1.4% | $1.59B | +$222.3M | ||||||||
| IntelCOM · shares −1.3% · price −13.5% | 1.3% | $1.47B | −$227.8M | ||||||||
| American Express CoCOM · shares −0.03% · price +5.3% | 1.3% | $1.46B | +$73.8M | ||||||||
| Asml Holding N V NysCOM · shares +2.9% · price +0.3% | 1.2% | $1.35B | +$4.4M | ||||||||
| Sap Se ADRCOM · shares +2.3% · price +11.3% | 1.1% | $1.27B | +$125.5M | ||||||||
| MastercardCOM · shares −5.9% · price +14.4% | 1.1% | $1.24B | +$155.6M | ||||||||
| Costco Whsl Corp NewCOM · shares +3.3% · price +17.1% | 1.1% | $1.20B | +$170.0M | ||||||||
| Walt Disney Company (The)COM · shares +4.5% · price +11.3% | 1.0% | $1.18B | +$114.2M | ||||||||
| MetaCOM · shares +3.9% · price +15.3% | 0.99% | $1.13B | +$144.2M | ||||||||
| Novo-Nordisk A S ADRCOM · shares +1.4% · price +6.0% | 0.95% | $1.09B | +$61.2M | ||||||||
| Total · 940 positions | 100% | $114.26B | +$9.49B |
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 2020 to Q3 2020: 765 stocks held throughout, up $9.49B (+9.4%).
- Apple4:1 split+$1.41B+27%
- Alibaba+$1.06B+36%
- Salesforce+$736.3M+34%
- TSMC+$668.5M+43%
- Amazon+$643.5M+14%
- Exxon Mobil Corp−$74.5M−23%
- Royal Dutch Shell Plc ADR−$82.6M−23%
- Chevron Corp New−$90.9M−19%
- Cisco−$148.2M−16%
- Intel−$227.8M−13%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 2 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 ↗ |