Fisher Funds Management LTD

CIK 1435028 · View on SEC EDGAR ↗

Portfolio value
$3.5B
#1,042 of 9,443 by 13F value · top 11.0%
Positions
174
As of
June 30, 2026

Portfolio value QoQ: +3.1% 13F does not disclose cash

Top 10 holdings weight
31.94%
Top 25 holdings weight
52.18%
Positions above 1%
26
Effective number of positions
57.3

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 8.86% Est. buys $306,949,166 · sells $485,709,942

Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 84.5% still held

New positions
8
Increased
26
Decreased
76
Closed
3
On this page

Performance vs S&P 500

Tracked Q4 2024–Q2 2026
+9.4%
S&P 500 total return (same window)
+28.1%
Excess return
-18.7%

Annualized: +6.2% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 99.0% · Options excluded: 0.0%

Sector breakdown

Technology
24.4%
Health Care
15.1%
Financial Services
10.5%
Industrials
10.0%
Communication Services
9.9%
Retail
9.0%
Financials
5.4%
Utilities
4.3%
Energy
3.0%
Real Estate
2.2%
Materials
1.4%
Communications
0.8%
Telecommunication
0.8%
Consumer products
0.8%
Consumer Staples
0.7%
Consumer Discretionary
0.6%
Logistics & Transportation
0.1%
Other/Unmapped
1.1%

Full portfolio 174 positions

Type Streak 8Q trend
MSFT Microsoft Corporation - Common Stock $210,669,386 5.99% 564,767 $15,530,939 Up ×3
NVDA NVIDIA Corporation - Common Stock $164,842,345 4.69% 823,841 $65,442,014 Up ×3
AMZN Amazon.com, Inc. - Common Stock $142,382,647 4.05% 597,393 $-2,123,666 Down ×1
GOOGL Alphabet Inc. - Class A Common Stock $135,062,631 3.84% 377,935 $30,046,006 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $100,848,062 2.87% 179,034 $-3,157,734 Down ×1
AAPL Apple Inc. - Common Stock $92,099,237 2.62% 318,286 $25,994,302 Up ×1
MA Mastercard Incorporated Common Stock $90,169,157 2.56% 175,563 $-7,625,548 Down ×1
FND Floor & Decor Holdings, Inc. Common Stock $63,484,036 1.80% 1,069,475 $8,237,519 Down ×1
AVGO Broadcom Inc. - Common Stock $62,936,928 1.79% 166,610 $5,798,155 Down ×3
MELI MercadoLibre, Inc. - Common Stock $61,089,066 1.74% 35,990 $-241,003 Up ×2
DXCM DexCom, Inc. - Common Stock $56,637,983 1.61% 840,950 $-546,692 Down ×2
DHR Danaher Corporation Common Stock $55,632,732 1.58% 292,066 $-12,411,864 Down ×4
ASML ASML Holding N.V. - New York Registry Shares $51,281,795 1.46% 25,777 $35,272,220 Up ×1
NEE NextEra Energy, Inc. Common Stock $51,159,729 1.45% 582,884 $-2,978,537
JPM JP Morgan Chase & Co. Common Stock $49,738,776 1.41% 151,953 $5,040,576 Up ×1
UBER Uber Technologies, Inc. Common Stock $49,627,462 1.41% 687,742 $-7,055,249 Down ×1
NFLX Netflix, Inc. - Common Stock $49,588,942 1.41% 694,523 $-29,792,528 Down ×1
ISRG Intuitive Surgical, Inc. - Common Stock $47,069,007 1.34% 118,359 $-18,463,488 Down ×1
MU Micron Technology, Inc. - Common Stock $46,897,649 1.33% 40,629 $27,095,960 Down ×2
MSCI MSCI Inc. Common Stock $46,566,205 1.32% 83,148 $-12,272,126 Down ×2
WMB Williams Companies, Inc. (The) Common Stock $46,392,993 1.32% 624,065 $22,140,222 Up ×1
BSX Boston Scientific Corporation Common Stock $43,015,635 1.22% 1,007,864 $-11,009,856 Up ×2
AJG Arthur J. Gallagher & Co. Common Stock $41,553,548 1.18% 181,006 $-3,325,943 Down ×1
V Visa Inc. $40,659,940 1.16% 118,511 $32,863,357 Up ×1
EW Edwards Lifesciences Corporation Common Stock $35,971,057 1.02% 397,646 $-5,638,031 Down ×4
ZTS Zoetis Inc. Class A Common Stock $35,286,924 1.00% 491,051 $-22,760,215
ODFL Old Dominion Freight Line, Inc. - Common Stock $34,677,660 0.99% 160,100 $-18,969,215 Down ×2
EFX Equifax, Inc. Common Stock $34,035,282 0.97% 214,436 $-6,777,764 Down ×1
PGR Progressive Corporation (The) Common Stock $33,565,717 0.95% 153,654 $-1,787,215 Down ×1
CMS CMS Energy Corporation Common Stock $32,833,265 0.93% 429,193 $-7,954,187 Down ×1
HUM Humana Inc. Common Stock $32,811,563 0.93% 82,603 $14,316,572 Down ×2
AXP American Express Company Common Stock $32,588,359 0.93% 96,344 $7,068,535 Up ×2
FERG Ferguson Enterprises Inc. Common Stock $32,025,073 0.91% 134,939 $-2,267,879 Down ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $31,509,113 0.90% 65,978 $22,955,260 Up ×1
TW Tradeweb Markets Inc. - Class A Common Stock $29,955,205 0.85% 300,574 $-5,789,785 Down ×2
KKR KKR & Co. Inc. Common Stock $29,918,903 0.85% 325,985 $-9,593,027 Down ×1
AMAT Applied Materials, Inc. - Common Stock $29,438,391 0.84% 40,717 $1,731,868 Down ×1
SPGI S&P Global Inc. Common Stock $29,154,928 0.83% 71,588 $25,468,506 Up ×1
KMI Kinder Morgan, Inc. Common Stock $28,667,403 0.82% 896,697 $-14,842,835 Down ×2
JNJ Johnson & Johnson Common Stock $27,959,303 0.79% 110,089 $-2,190,660 Down ×2
INTC Intel Corporation - Common Stock $27,084,171 0.77% 193,971 $13,637,186 Down ×1
BRKB $27,039,574 0.77% 54,037 $1,149,907
AMT American Tower Corporation (REIT) Common Stock $26,972,366 0.77% 164,898 $-9,177,967 Down ×2
CSCO Cisco Systems, Inc. - Common Stock $26,620,430 0.76% 226,634 $1,129,664 Down ×3
COF Capital One Financial Corporation Common Stock $26,119,119 0.74% 130,192 $7,635,129 Up ×2
ICLR ICON plc - Ordinary Shares $26,008,903 0.74% 149,726 $6,721,861 Down ×2
ABBV AbbVie Inc. Common Stock $25,098,574 0.71% 99,740 $2,149,464 Down ×2
CP Canadian Pacific Kansas City Limited Common Shares $24,720,205 0.70% 285,288 $2,279,451
EQIX Equinix, Inc. - Common Stock $24,048,980 0.68% 23,071 $1,433,863
WBD Warner Bros. Discovery, Inc. - Series A Common Stock $23,992,187 0.68% 899,932 $4,918,388 Up ×1
VST Vistra Corp. Common Stock $23,947,260 0.68% 150,963 $2,887,681 Up ×2
GOOG Alphabet Inc. - Class C Capital Stock $23,082,342 0.66% 65,328 $4,339,739
PAC Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo Aeroportuario Del Pacifico, S.A. de C.V. (each representing 10 Series B shares) $21,369,742 0.61% 84,412 $-3,180,492 Down ×1
CRM Salesforce, Inc. Common Stock $20,977,401 0.60% 133,904 $-4,132,141 Down ×2
TRGP Targa Resources, Inc. Common Stock $20,112,377 0.57% 75,007 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $19,420,462 0.55% 151,132 $1,240,794
UNH UnitedHealth Group Incorporated Common Stock (DE) $19,144,749 0.54% 46,062 $5,958,898 Down ×1
CCI Crown Castle Inc. Common Stock $18,469,108 0.53% 243,881 $-1,360,856
IBM International Business Machines Corporation Common Stock $18,376,792 0.52% 65,349 $1,616,394 Down ×2
MLM Martin Marietta Materials, Inc. Common Stock $18,249,095 0.52% 31,644 $-378,506 Up ×1
LLY Eli Lilly and Company Common Stock $17,332,963 0.49% 14,451 $7,720,447 Up ×1
HD Home Depot, Inc. (The) Common Stock $17,326,110 0.49% 49,127 $232,710 Down ×2
HDB HDFC Bank Limited Common Stock $17,201,153 0.49% 665,937 Up ×1
URI United Rentals, Inc. Common Stock $16,829,081 0.48% 14,855 $4,608,216 Down ×2
BK The Bank of New York Mellon Corporation Common Stock $16,632,898 0.47% 115,019 $2,197,762 Down ×1
ORCL Oracle Corporation Common Stock $16,130,172 0.46% 110,066 $-2,013,752 Down ×2
TEAM Atlassian Corporation - Class A Common Stock $15,689,854 0.45% 201,695 $496,517 Down ×2
NUE Nucor Corporation Common Stock $15,342,129 0.44% 68,876 $2,215,403 Down ×1
VZ Verizon Communications Inc. Common Stock $15,027,948 0.43% 354,935 $-3,822,001 Down ×1
PG Procter & Gamble Company (The) Common Stock $14,783,658 0.42% 100,816 $-621,735 Down ×2
T AT&T Inc. $14,507,243 0.41% 700,833 $-6,968,335 Down ×2
PH Parker-Hannifin Corporation Common Stock $13,986,138 0.40% 14,299 $443,843 Down ×2
WCN Waste Connections, Inc. Common Shares $13,836,937 0.39% 83,010 $-18,083,823 Down ×1
LRCX Lam Research Corporation - Common Stock $13,571,462 0.39% 31,319 $2,154,967 Down ×1
STLD Steel Dynamics, Inc. - Common Stock $12,801,344 0.36% 55,789 $-3,122,176 Down ×2
UNP Union Pacific Corporation Common Stock $10,648,800 0.30% 39,150 $1,148,270
AWK American Water Works Company, Inc. Common Stock $10,329,293 0.29% 78,502 $6,944,599 Up ×1
ADI Analog Devices, Inc. - Common Stock $10,275,185 0.29% 25,871 $-212,936 Down ×1
ALL Allstate Corporation (The) Common Stock $10,158,610 0.29% 42,694 $793,684 Down ×2
CVS CVS Health Corporation Common Stock $10,081,203 0.29% 97,450 $2,676,920 Down ×1
AFL AFLAC Incorporated Common Stock $9,926,502 0.28% 84,661 $100,326 Down ×1
PPL PPL Corporation Common Stock $9,819,880 0.28% 270,148 $-1,097,604 Down ×2
QCOM QUALCOMM Incorporated - Common Stock $9,792,392 0.28% 52,992 $-2,591,222 Down ×1
EXC Exelon Corporation - Common Stock $9,549,827 0.27% 204,844 $-1,073,346 Down ×1
EPD Enterprise Products Partners L.P. Common Stock $9,408,097 0.27% 255,933 $-4,212,903 Down ×1
LOW Lowe's Companies, Inc. Common Stock $9,402,355 0.27% 42,643 $-1,256,945 Down ×2
F Ford Motor Company Common Stock $9,335,018 0.27% 671,584 $-84,876 Down ×1
BAC Bank of America Corporation Common Stock $9,272,583 0.26% 162,734 $1,339,300
AMP Ameriprise Financial, Inc. Common Stock $9,268,787 0.26% 20,204 $-229,819 Down ×1
ASR Grupo Aeroportuario del Sureste, S.A. de C.V. Common Stock $9,179,838 0.26% 29,931 $-6,249,201 Down ×1
HCA HCA Healthcare, Inc. Common Stock $9,054,805 0.26% 23,224 $-37,289,262 Down ×1
MDLZ Mondelez International, Inc. - Class A Common Stock $8,898,106 0.25% 153,840 $-482,919 Down ×2
AMGN Amgen Inc. - Common Stock $8,779,599 0.25% 24,245 $-245,354 Down ×2
CI The Cigna Group Common Stock $8,530,091 0.24% 30,942 $-201,970 Down ×1
DRTSW Alpha Tau Medical Ltd. - Warrant $8,405,410 0.24% 157,700 $-942,411 Down ×1
MCK McKesson Corporation Common Stock $8,232,262 0.23% 10,895 $-29,748,388 Down ×1
WAB Westinghouse Air Brake Technologies Corporation Common Stock $8,215,521 0.23% 30,473 $158,922 Down ×1
CRH CRH PLC Ordinary Shares $8,021,469 0.23% 74,967 $140,938
PFE Pfizer, Inc. Common Stock $7,812,780 0.22% 324,451 $-1,825,596 Down ×2
JCI Johnson Controls International plc Ordinary Share $7,781,088 0.22% 53,255 $807,346

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
MSFT $210,669,386 5.99% up ×3
NVDA $164,842,345 4.69% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
TRGP $20,112,377 75,007 0.57%
HDB $17,201,153 665,937 0.49%
WMT $5,083,335 44,882 0.14%
COST $2,768,056 2,959 0.08%
Unknown issuer (CUSIP: 26614N201) $2,655,424 19,577 0.08%
TXN $2,086,490 7,000 0.06%
KO $1,462,860 18,000 0.04%
Unknown issuer (CUSIP: G9600F104) $349,061 8,309 0.01%

Top movers (QoQ)

Security Action Shares Δ Value Δ
NVDA Bought more +254K +$65.4M
ASML Bought more +14K +$35.3M
GOOGL Bought more +13K +$30.0M
NFLX Trimmed -131K -$29.8M
MCK Trimmed -33K -$29.7M
MU Trimmed -18K +$27.1M
AAPL Bought more +58K +$26.0M
TSM Bought more +41K +$23.0M
ZTS Price move only +0 -$22.8M
WMB Bought more +291K +$22.1M

3 positions hidden (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
NKE March 31, 2026 547,474 $34,948,003 -23.2%
COST March 31, 2026 31,698 $27,383,110 -5.9%
EMR Dec. 31, 2025 98,998 $12,986,558 17.1%
DG June 30, 2026 105,665 $12,545,605 5.9%
ADBE June 30, 2026 34,152 $8,301,668 33.6%
EG Sept. 30, 2025 17,313 $5,883,823 4.3%
CF Sept. 30, 2025 63,000 $5,796,000 41.0%
NI Sept. 30, 2025 139,224 $5,616,296 -3.3%
BLKXXXX March 31, 2025 5,441 $5,082,003 No longer tracked
ARW Sept. 30, 2025 39,684 $5,056,932 69.9%
FNF Sept. 30, 2025 87,825 $4,923,470 -18.4%
SW Sept. 30, 2025 93,963 $4,054,503 15.0%
STLA Sept. 30, 2025 367,584 $3,686,868 -45.0%
CNP Sept. 30, 2025 90,565 $3,327,358 4.3%
NTRS Sept. 30, 2025 22,827 $2,894,235 37.2%
IP Sept. 30, 2025 59,213 $2,772,945 -11.4%
DD June 30, 2026 58,733 $2,689,971 3.0%
STX Sept. 30, 2025 18,225 $2,630,414 255.0%
ESS Sept. 30, 2025 9,159 $2,595,661 7.7%
FG Sept. 30, 2025 78,135 $2,498,757 -27.8%
SSNC Sept. 30, 2025 28,099 $2,326,597 -7.0%
TAP Sept. 30, 2025 48,313 $2,323,372 -6.7%
APTVXXXX June 30, 2025 24,930 $1,483,335 No longer tracked
LKQ Sept. 30, 2025 39,548 $1,463,671 -16.2%
IPG Sept. 30, 2025 50,701 $1,241,160 No longer tracked
FMC Sept. 30, 2025 27,002 $1,127,334 -67.5%
SWK Sept. 30, 2025 16,175 $1,095,856 32.7%
CE Sept. 30, 2025 19,499 $1,078,880 10.6%
WBA Sept. 30, 2025 81,218 $932,383 No longer tracked
CAG Sept. 30, 2025 42,057 $860,907 -11.4%
LW Sept. 30, 2025 14,834 $769,143 -6.8%
OGN Sept. 30, 2025 76,046 $736,125 28.6%
SOLV Sept. 30, 2025 7,161 $543,090 21.2%