13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q1 2021. See the latest, Q2 2026 →
Reported value
$141.96B
+6.4% on the quarter before
Positions
999
98 new · 109 sold out
Top 10
30.6%
of the value
Est. gain
+$4.95B
on stocks held all quarter
Est. return
+3.8%
on those stocks since Q4 2020
Positions as of Mar 31, 2021, 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, 50% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2020. Striped tiles are options.
Largest buys
Since Q4 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.
- Ishares Tr 7 10yr Tr Bd ETF~$993.9MNew · 0.0% → 0.7%+8,801,434 shares
- SPDR Bloomberg Brclys Lg Trs E~$648.8MAdded · 0.0% → 0.5%+16,645,664 shares
- Vanguard Fds Int-Term Corp~$530.2MAdded · 2.9% → 2.9%+5,699,417 shares
- Apple~$187.9MAdded · 6.1% → 5.4%+1,538,571 shares
- Amazon~$152.8MAdded · 4.3% → 4.0%+49,375 shares
- Microsoft~$140.5MAdded · 3.9% → 4.0%+595,997 shares
- Visa Inc.~$135.5MAdded · 3.6% → 3.4%+639,826 shares
- Capital One Finl Corp~$126.0MAdded · 0.2% → 0.3%+990,065 shares
- Ishares Tr Iboxx Inv Cp ETF~$111.1MAdded · 1.5% → 1.4%+854,403 shares
- Alphabet~$99.0MAdded · 2.2% → 2.5%+47,994 shares
Largest sells
Since Q4 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.
- Ishares Tr Mbs ETF~$844.8MCut · 0.7% → 0.1%−7,792,016 shares
- Ishares Tr Iboxx Hi Yd ETF~$225.6MCut · 0.2% → 0.0%−2,587,900 shares
- Dbx ETF Tr Usd Hy Corp~$215.4MCut · 0.2% → 0.0%−4,309,060 shares
- Ishares Tr Broad Usd High~$153.1MCut · 0.1% → 0.0%−3,716,836 shares
- TSMC~$118.3MCut · 2.3% → 2.2%−999,956 shares
- Cleveland Cliffs Inc~$82.4MCut · 0.2% → 0.2%−4,099,358 shares
- Vanguard Scottsdale Fds Mortg-~$77.1MCut · 0.1% → 0.0%−1,445,415 shares
- Lvmh Moet Hennessy Lou Vui ADR~$67.3MCut · 1.1% → 1.1%−503,637 shares
- SPDR Series Trust Bloomberg Br~$47.5MCut · 0.0% → 0.0%−436,779 shares
- Vale S A ADR~$38.8MCut · 0.5% → 0.5%−2,234,182 shares
Holdings
As of Mar 31, 2021. Changes are in shares against Dec 31, 2020, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +2.5% · price −7.9% | 5.4% | $7.67B | −$645.8M | ||||||||
| MicrosoftCOM · shares +2.5% · price +6.0% | 4.0% | $5.66B | +$312.3M | ||||||||
| AmazonCOM · shares +2.8% · price −5.0% | 4.0% | $5.62B | −$287.7M | ||||||||
| Visa Inc.COM · shares +2.9% · price −3.2% | 3.4% | $4.84B | −$155.5M | ||||||||
| Vanguard Fds Int-Term CorpCOM · shares +15% · price −4.2% | 2.9% | $4.19B | −$161.5M | ||||||||
| AlphabetCOM · shares +2.9% · price +17.7% | 2.5% | $3.54B | +$517.6M | ||||||||
| AlibabaCOM · shares −0.3% · price −2.6% | 2.2% | $3.15B | −$83.4M | ||||||||
| TSMCCOM · shares −3.6% · price +8.5% | 2.2% | $3.15B | +$246.2M | ||||||||
| AdobeCOM · shares +3.1% · price −4.9% | 2.0% | $2.85B | −$144.0M | ||||||||
| Tencent Hldgs Ltd ADR ADRCOM · shares +2.7% · price +7.9% | 2.0% | $2.81B | +$199.8M | ||||||||
| SalesforceCOM · shares +3.7% · price −4.8% | 1.9% | $2.74B | −$133.2M | ||||||||
| PayPalCOM · shares +3.6% · price +3.7% | 1.9% | $2.69B | +$92.3M | ||||||||
| Asml Holding N V NysCOM · shares +2.7% · price +26.6% | 1.7% | $2.45B | +$499.8M | ||||||||
| American Express CoCOM · shares +1.3% · price +17.0% | 1.5% | $2.15B | +$307.6M | ||||||||
| Home Depot IncCOM · shares +2.7% · price +14.9% | 1.5% | $2.15B | +$271.3M | ||||||||
| Ishares Tr Iboxx Inv Cp ETFCOM · shares +5.8% · price −5.8% | 1.4% | $2.03B | −$119.1M | ||||||||
| NetflixCOM · shares +3.7% · price −3.5% | 1.4% | $2.00B | −$70.5M | ||||||||
| IntelCOM · shares +3.4% · price +28.5% | 1.4% | $1.93B | +$414.1M | ||||||||
| Walt Disney Company (The)COM · shares +4.6% · price +1.8% | 1.3% | $1.91B | +$33.0M | ||||||||
| Walmart IncCOM · shares +3.3% · price −5.8% | 1.2% | $1.66B | −$98.4M | ||||||||
| Lvmh Moet Hennessy Lou Vui ADRCOM · shares −4.3% · price +6.8% | 1.1% | $1.51B | +$96.0M | ||||||||
| Caterpillar Inc DelCOM · shares +3.7% · price +27.4% | 1.0% | $1.49B | +$308.5M | ||||||||
| MastercardCOM · shares +3.4% · price −0.2% | 1.0% | $1.47B | −$3.5M | ||||||||
| Freeport-McMoRanCOM · shares +3.4% · price +26.6% | 1.0% | $1.46B | +$296.1M | ||||||||
| MetaCOM · shares +2.9% · price +7.8% | 0.99% | $1.40B | +$98.7M | ||||||||
| Total · 999 positions | 100% | $141.96B | +$4.95B |
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 2020 to Q1 2021: 835 stocks held throughout, up $4.95B (+3.8%).
- Alphabet+$517.6M+18%
- Asml Holding N V Nys+$499.8M+27%
- Intel+$414.1M+28%
- Microsoft+$312.3M+6%
- Caterpillar Inc Del+$308.5M+27%
- Visa Inc.−$155.5M−3%
- Vanguard Fds Int-Term Corp−$161.5M−4%
- PDD Holdings−$165.3M−25%
- Amazon−$287.7M−5%
- Apple−$645.8M−8%
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 ↗ |