13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q3 2023. See the latest, Q2 2026 →
Reported value
$176.32B
−2.5% on the quarter before
Positions
1,168
130 new · 125 sold out
Top 10
27.3%
of the value
Est. gain
−$7.51B
on stocks held all quarter
Est. return
−4.3%
on those stocks since Q2 2023
Positions as of Sep 30, 2023, 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, 43% of the reported value, each sized by its share, colored by what the fund did with it since Q2 2023. Striped tiles are options.
Largest buys
Since Q2 2023, 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.
- Procter And Gamble Co~$749.1MAdded · 0.4% → 0.8%+5,135,524 shares
- Novo Nordisk A S ADR~$648.2MAdded · 0.7% → 0.8%+7,128,213 shares
- Unitedhealth Group Inc~$613.2MAdded · 0.4% → 0.8%+1,216,294 shares
- Pepsico Inc Com~$592.2MAdded · 0.5% → 0.8%+3,495,182 shares
- Vanguard Fds Int Term Corp~$366.8MAdded · 2.8% → 3.0%+4,827,304 shares
- Jpmorgan Chase Co~$347.0MAdded · 0.7% → 0.9%+2,392,576 shares
- Microsoft~$177.1MAdded · 4.6% → 4.5%+560,745 shares
- Chevron Corp New~$154.1MAdded · 0.6% → 0.8%+914,054 shares
- Apple~$150.4MAdded · 5.7% → 5.2%+878,492 shares
- Us Bancorp Del~$150.1MAdded · 0.0% → 0.1%+4,540,632 shares
Largest sells
Since Q2 2023, 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.
- Exxon Mobil Corp~$3.42BCut · 0.4% → 0.8%−4,649,470 shares
- Hess Corp~$472.5MCut · 0.2% → 0.0%−3,088,049 shares
- Uber~$415.3MCut · 0.2% → 0.0%−9,030,795 shares
- Schlumberger Ltd~$405.9MCut · 0.2% → 0.0%−6,962,917 shares
- PayPal~$317.4MCut · 0.2% → 0.0%−5,429,375 shares
- 3m Co~$244.2MCut · 0.1% → 0.0%−2,608,447 shares
- Target Corp~$225.3MCut · 0.2% → 0.0%−2,037,191 shares
- Citigroup Inc~$170.4MCut · 0.7% → 0.5%−4,142,448 shares
- American Express Co~$162.3MCut · 1.1% → 0.9%−1,088,188 shares
- Adobe~$136.4MCut · 1.3% → 1.3%−267,471 shares
Holdings
As of Sep 30, 2023. Changes are in shares against Jun 30, 2023, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +1.7% · price −11.7% | 5.2% | $9.18B | −$1.20B | ||||||||
| MicrosoftCOM · shares +2.3% · price −7.3% | 4.5% | $7.89B | −$605.3M | ||||||||
| AlphabetCOM · shares +2.4% · price +9.3% | 3.2% | $5.72B | +$476.7M | ||||||||
| AmazonCOM · shares +1.7% · price −2.5% | 3.0% | $5.26B | −$131.8M | ||||||||
| Vanguard Fds Int Term CorpCOM · shares +7.6% · price −3.9% | 3.0% | $5.22B | −$194.7M | ||||||||
| NvidiaCOM · shares −3.0% · price +2.8% | 2.1% | $3.63B | +$99.9M | ||||||||
| SalesforceCOM · shares +2.0% · price −4.0% | 1.6% | $2.87B | −$117.8M | ||||||||
| Asml Holding N V NysCOM · shares +1.9% · price −18.8% | 1.6% | $2.87B | −$650.7M | ||||||||
| AMDCOM · shares +3.0% · price −9.7% | 1.6% | $2.86B | −$299.1M | ||||||||
| TSMCCOM · shares +3.7% · price −13.9% | 1.5% | $2.66B | −$414.4M | ||||||||
| Home Depot IncCOM · shares +0.8% · price −2.7% | 1.5% | $2.60B | −$72.4M | ||||||||
| Eli LillyCOM · shares +5.2% · price +14.5% | 1.4% | $2.39B | +$288.8M | ||||||||
| AdobeCOM · shares −5.6% · price +4.3% | 1.3% | $2.32B | +$95.0M | ||||||||
| Caterpillar IncCOM · shares +3.1% · price +11.0% | 1.2% | $2.17B | +$208.2M | ||||||||
| Freeport-McMoRanCOM · shares −0.3% · price −6.8% | 1.2% | $2.04B | −$148.2M | ||||||||
| Visa Inc.COM · shares +2.2% · price −3.1% | 1.1% | $2.01B | −$63.8M | ||||||||
| OracleCOM · shares +1.4% · price −11.1% | 1.1% | $1.99B | −$244.1M | ||||||||
| Lam ResearchCOM · shares +2.6% · price −2.5% | 1.0% | $1.81B | −$45.2M | ||||||||
| Goldman SachsCOM · shares +3.3% · price +0.3% | 0.98% | $1.74B | +$5.3M | ||||||||
| BroadcomCOM · shares +4.9% · price −4.2% | 0.97% | $1.70B | −$72.1M | ||||||||
| Jpmorgan Chase CoCOM · shares +27% · price −0.3% | 0.94% | $1.65B | −$3.8M | ||||||||
| Morgan StanleyCOM · shares −0.9% · price −4.4% | 0.91% | $1.61B | −$73.6M | ||||||||
| Ishares Tr Iboxx Inv Cp ETFCOM · shares +1.0% · price −5.7% | 0.88% | $1.56B | −$92.5M | ||||||||
| American Express CoCOM · shares −9.4% · price −14.4% | 0.88% | $1.56B | −$261.0M | ||||||||
| Costco Whsl Corp NewCOM · shares +2.0% · price +4.9% | 0.87% | $1.53B | +$70.6M | ||||||||
| Total · 1,168 positions | 100% | $176.32B | −$7.51B |
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 2023 to Q3 2023: 1,037 stocks held throughout, down $7.51B (−4.3%).
- Exxon Mobil Corp+$1.24B+585%
- Alphabet+$476.7M+9%
- Eli Lilly+$288.8M+15%
- Caterpillar Inc+$208.2M+11%
- Totalenergies Se ADR ADR+$166.1M+14%
- TSMC−$414.4M−14%
- Novo Nordisk A S ADR−$540.2M−44%
- Microsoft−$605.3M−7%
- Asml Holding N V Nys−$650.7M−19%
- Apple−$1.20B−12%
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 ↗ |