13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q4 2021. See the latest, Q2 2026 →
Reported value
$178.57B
+11% on the quarter before
Positions
1,067
121 new · 82 sold out
Top 10
31.6%
of the value
Est. gain
+$10.17B
on stocks held all quarter
Est. return
+6.6%
on those stocks since Q3 2021
Positions as of Dec 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 Q3 2021. Striped tiles are options.
Largest buys
Since Q3 2021, 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.
- Amazon~$784.1MAdded · 3.9% → 4.0%+235,162 shares
- Netflix~$762.2MAdded · 1.6% → 1.8%+1,265,219 shares
- Intuit~$712.4MAdded · 0.0% → 0.4%+1,107,581 shares
- Meta~$670.6MAdded · 1.6% → 1.8%+1,993,840 shares
- Uber~$635.2MNew · 0.0% → 0.4%+15,149,348 shares
- AMD~$601.1MAdded · 1.0% → 1.6%+4,177,219 shares
- Apple~$549.9MAdded · 5.4% → 6.4%+3,096,696 shares
- Verizon Communications Inc~$505.5MAdded · 0.0% → 0.3%+9,727,977 shares
- Broadcom~$498.3MAdded · 0.0% → 0.3%+748,903 shares
- Vanguard Fds Int-Term Corp~$467.4MAdded · 3.2% → 3.1%+5,038,665 shares
Largest sells
Since Q3 2021, 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.
- Walmart Inc~$1.16BCut · 1.1% → 0.4%−7,983,328 shares
- Walt Disney Company (The)~$919.7MCut · 1.2% → 0.4%−5,937,853 shares
- Intel~$897.4MCut · 1.1% → 0.4%−17,424,707 shares
- Unitedhealth Group Inc~$780.5MCut · 0.7% → 0.4%−1,554,434 shares
- Cisco~$636.9MCut · 0.8% → 0.5%−10,049,717 shares
- Visa Inc.~$614.9MCut · 2.5% → 1.9%−2,837,599 shares
- Starbucks Corp~$597.8MCut · 0.6% → 0.2%−5,110,833 shares
- Exxon Mobil Corp~$243.4MCut · 0.3% → 0.2%−3,978,456 shares
- Petroleo Brasileiro Sa Pet ADR~$95.8MCut · 0.3% → 0.2%−8,727,718 shares
- Kansas City Southern~$64.7MSold out · 0.0% → 0.0%−239,094 shares
Holdings
As of Dec 31, 2021. Changes are in shares against Sep 30, 2021, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +5.1% · price +25.5% | 6.4% | $11.36B | +$2.20B | ||||||||
| MicrosoftCOM · shares +5.2% · price +19.3% | 5.1% | $9.03B | +$1.39B | ||||||||
| AmazonCOM · shares +12% · price +1.5% | 4.0% | $7.22B | +$95.2M | ||||||||
| AlphabetCOM · shares +5.7% · price +8.4% | 3.2% | $5.63B | +$410.7M | ||||||||
| Vanguard Fds Int-Term CorpCOM · shares +9.1% · price −1.7% | 3.1% | $5.60B | −$91.2M | ||||||||
| AdobeCOM · shares +4.7% · price −1.5% | 2.1% | $3.82B | −$55.7M | ||||||||
| SalesforceCOM · shares +4.7% · price −6.3% | 2.1% | $3.70B | −$237.7M | ||||||||
| Asml Holding N V NysCOM · shares +4.2% · price +6.8% | 1.9% | $3.40B | +$209.3M | ||||||||
| Visa Inc.COM · shares −15% · price −2.7% | 1.9% | $3.36B | −$93.6M | ||||||||
| NetflixCOM · shares +30% · price −1.3% | 1.8% | $3.27B | −$32.9M | ||||||||
| Home Depot IncCOM · shares +4.6% · price +26.4% | 1.8% | $3.25B | +$649.2M | ||||||||
| MetaCOM · shares +26% · price −0.9% | 1.8% | $3.22B | −$23.1M | ||||||||
| TSMCCOM · shares +2.2% · price +7.8% | 1.7% | $3.12B | +$219.8M | ||||||||
| AMDCOM · shares +26% · price +39.8% | 1.6% | $2.87B | +$647.0M | ||||||||
| PayPalCOM · shares +21% · price −27.5% | 1.5% | $2.73B | −$859.0M | ||||||||
| American Express CoCOM · shares +0.8% · price −2.3% | 1.4% | $2.58B | −$61.4M | ||||||||
| Costco Whsl Corp NewCOM · shares +4.7% · price +26.3% | 1.3% | $2.31B | +$460.1M | ||||||||
| Ishares Tr Iboxx Inv Cp ETFCOM · shares +2.4% · price −0.4% | 1.2% | $2.21B | −$8.3M | ||||||||
| Tencent Hldgs Ltd ADR ADRCOM · shares −2.0% · price −1.1% | 1.2% | $2.18B | −$25.2M | ||||||||
| Freeport-McMoRanCOM · shares +4.0% · price +28.3% | 1.1% | $2.04B | +$432.3M | ||||||||
| Eli LillyCOM · shares +7.2% · price +19.5% | 1.1% | $1.93B | +$294.2M | ||||||||
| Novo-Nordisk A S ADRCOM · shares −1.5% · price +16.7% | 1.00% | $1.79B | +$254.9M | ||||||||
| Lvmh Moet Hennessy Lou Vui ADRCOM · shares −3.0% · price +15.0% | 0.98% | $1.74B | +$227.8M | ||||||||
| AlibabaCOM · shares −0.2% · price −19.8% | 0.94% | $1.69B | −$415.2M | ||||||||
| MastercardCOM · shares +2.0% · price +3.3% | 0.90% | $1.62B | +$51.3M | ||||||||
| Total · 1,067 positions | 100% | $178.57B | +$10.17B |
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 2021 to Q4 2021: 860 stocks held throughout, up $10.17B (+6.6%).
- Apple+$2.20B+25%
- Microsoft+$1.39B+19%
- Home Depot Inc+$649.2M+26%
- AMD+$647.0M+40%
- Costco Whsl Corp New+$460.1M+26%
- PDD Holdings−$111.9M−36%
- Block−$118.8M−33%
- Salesforce−$237.7M−6%
- Alibaba−$415.2M−20%
- PayPal−$859.0M−28%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 3 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 ↗ |