13F filer · CIK 850529 ↗
Fisher Investments
You are looking at Q4 2023. See the latest, Q2 2026 →
Reported value
$189.13B
+7.3% on the quarter before
Positions
981
101 new · 288 sold out
Top 10
30.8%
of the value
Est. gain
+$21.83B
on stocks held all quarter
Est. return
+13.6%
on those stocks since Q3 2023
Positions as of Dec 31, 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, 48% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2023. Striped tiles are options.
Largest buys
Since Q3 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.
- Vanguard Fds Int Term Corp~$358.2MAdded · 3.0% → 3.1%+4,407,258 shares
- Nvidia~$293.3MAdded · 2.1% → 2.3%+592,199 shares
- Coca Cola Co~$290.4MAdded · 0.0% → 0.2%+4,928,441 shares
- Ishares Tr U S Pharma ETF~$219.8MAdded · 0.0% → 0.1%+1,185,696 shares
- Apple~$205.5MAdded · 5.2% → 5.6%+1,067,587 shares
- Alphabet~$199.7MAdded · 3.2% → 3.3%+1,429,261 shares
- Salesforce~$193.9MAdded · 1.6% → 2.1%+736,986 shares
- Bank America Corp~$184.8MAdded · 0.5% → 0.7%+5,488,790 shares
- Intuit~$169.0MAdded · 0.8% → 1.0%+270,432 shares
- Microsoft~$151.7MAdded · 4.5% → 5.0%+403,409 shares
Largest sells
Since Q3 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.
- Lvmh Moet Hennessy Lou Vui ADR~$1.20BSold out · 0.7% → 0.0%−7,889,108 shares
- L Oreal Co ADR~$892.7MSold out · 0.5% → 0.0%−10,722,399 shares
- Bnp Paribas ADR~$835.6MSold out · 0.5% → 0.0%−26,120,587 shares
- Siemens A G ADR~$828.0MSold out · 0.5% → 0.0%−11,529,017 shares
- Tokyo Electron Ltd ADR ADR~$744.9MSold out · 0.4% → 0.0%−10,876,035 shares
- Abb Ltd ADR~$678.8MSold out · 0.4% → 0.0%−18,930,939 shares
- Schneider Electric Se ADR~$676.1MSold out · 0.4% → 0.0%−20,340,654 shares
- Nestle S A ADR~$624.7MSold out · 0.4% → 0.0%−5,509,066 shares
- Nextera Energy Inc~$589.6MCut · 0.3% → 0.0%−9,706,560 shares
- Intesa Sanpaolo S P A ADR~$478.6MSold out · 0.3% → 0.0%−30,879,091 shares
Holdings
As of Dec 31, 2023. Changes are in shares against Sep 30, 2023, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AppleCOM · shares +2.0% · price +12.5% | 5.6% | $10.53B | +$1.14B | ||||||||
| MicrosoftCOM · shares +1.6% · price +19.1% | 5.0% | $9.54B | +$1.51B | ||||||||
| AmazonCOM · shares +1.0% · price +19.5% | 3.4% | $6.35B | +$1.03B | ||||||||
| AlphabetCOM · shares +3.3% · price +6.7% | 3.3% | $6.31B | +$386.3M | ||||||||
| Vanguard Fds Int Term CorpCOM · shares +6.4% · price +7.0% | 3.1% | $5.94B | +$363.9M | ||||||||
| NvidiaCOM · shares +7.1% · price +13.8% | 2.3% | $4.43B | +$502.9M | ||||||||
| AMDCOM · shares +2.1% · price +43.4% | 2.2% | $4.18B | +$1.24B | ||||||||
| SalesforceCOM · shares +5.2% · price +29.8% | 2.1% | $3.92B | +$855.2M | ||||||||
| Asml Holding N V NysCOM · shares +2.0% · price +28.6% | 2.0% | $3.76B | +$819.8M | ||||||||
| TSMCCOM · shares +1.4% · price +19.7% | 1.7% | $3.23B | +$523.9M | ||||||||
| Home Depot IncCOM · shares +2.1% · price +14.7% | 1.6% | $3.05B | +$382.0M | ||||||||
| AdobeCOM · shares +0.2% · price +17.0% | 1.4% | $2.72B | +$393.9M | ||||||||
| Eli LillyCOM · shares +1.9% · price +8.5% | 1.4% | $2.65B | +$204.1M | ||||||||
| Caterpillar IncCOM · shares +2.2% · price +8.3% | 1.3% | $2.41B | +$180.6M | ||||||||
| BroadcomCOM · shares +3.8% · price +34.4% | 1.3% | $2.38B | +$586.2M | ||||||||
| Freeport-McMoRanCOM · shares +1.8% · price +14.2% | 1.3% | $2.37B | +$288.7M | ||||||||
| Lam ResearchCOM · shares +3.0% · price +25.0% | 1.2% | $2.33B | +$451.8M | ||||||||
| Visa Inc.COM · shares +1.9% · price +13.2% | 1.2% | $2.32B | +$265.0M | ||||||||
| Goldman SachsCOM · shares +2.8% · price +19.2% | 1.1% | $2.13B | +$333.7M | ||||||||
| Jpmorgan Chase CoCOM · shares +4.0% · price +17.3% | 1.1% | $2.01B | +$285.6M | ||||||||
| NetflixCOM · shares +1.8% · price +28.9% | 1.1% | $2.00B | +$441.8M | ||||||||
| IntuitCOM · shares +9.5% · price +22.3% | 1.0% | $1.95B | +$324.5M | ||||||||
| OracleCOM · shares −1.9% · price −0.5% | 1.0% | $1.94B | −$9.0M | ||||||||
| MetaCOM · shares +8.1% · price +17.9% | 1.0% | $1.93B | +$271.0M | ||||||||
| Morgan StanleyCOM · shares +2.5% · price +14.2% | 1.00% | $1.89B | +$228.5M | ||||||||
| Total · 981 positions | 100% | $189.13B | +$21.83B |
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 2023 to Q4 2023: 880 stocks held throughout, up $21.83B (+13.6%).
- Microsoft+$1.51B+19%
- AMD+$1.24B+43%
- Apple+$1.14B+12%
- Amazon+$1.03B+20%
- Salesforce+$855.2M+30%
- Sanofi ADR−$55.9M−7%
- Bp Plc Sponsored ADR ADR−$61.0M−9%
- Exxon Mobil Corp7:1 split−$66.2M−5%
- Danaher Corp Del Com−$66.7M−7%
- Chevron Corp New−$155.8M−12%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 1 split 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 ↗ |