— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

Fisher Asset Management, LLC

6500 INTERNATIONAL PARKWAY, PLANO, TX 75093 • 650-851-3334

Q3 2025 · Filed 2025-11-12
Market Value
$273.5B
+9.7%
Holdings
1,072
+3
New Purchases
106
Added To
441
Closed
78
Reduced
415
Top 10 Concentration
32.7%
Turnover
17.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IEF 3.09% 2.21% +0.88% $8.5B
GOOGL 3.34% 2.59% +0.74% $9.1B
AAPL 5.07% 4.41% +0.66% $13.9B
NVDA 5.77% 5.23% +0.54% $15.8B
TSM 1.82% 1.60% +0.22% $5.0B
CAT 1.65% 1.47% +0.18% $4.5B
ASML 1.54% 1.36% +0.18% $4.2B
AVGO 1.52% 1.37% +0.15% $4.2B
ORCL 0.93% 0.78% +0.15% $2.5B
C 1.23% 1.10% +0.13% $3.4B
UBS 0.92% 0.79% +0.12% $2.5B
SU 0.24% 0.13% +0.11% $649M
BABA 0.35% 0.24% +0.11% $946M
CMI 0.52% 0.43% +0.09% $1.4B
RTX 1.30% 1.21% +0.09% $3.5B

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VCIT 2.48% 3.40% -0.92% $6.8B
SAP 1.42% 1.73% -0.30% $3.9B
INTU 0.63% 0.88% -0.24% $1.7B
ISRG 0.64% 0.84% -0.20% $1.7B
AMZN 2.66% 2.86% -0.20% $7.3B
NFLX 0.89% 1.08% -0.19% $2.4B
FCX 0.91% 1.08% -0.18% $2.5B
COST 1.06% 1.23% -0.17% $2.9B
ADBE 0.55% 0.71% -0.16% $1.5B
MSFT 4.71% 4.85% -0.14% $12.9B
META 1.74% 1.88% -0.14% $4.8B
CNQ 0.48% 0.60% -0.12% $1.3B
NOW 0.56% 0.67% -0.12% $1.5B
V 0.92% 1.03% -0.12% $2.5B
CARR 0.33% 0.44% -0.11% $904M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 28.2%
Technology 23.4%
Industrials 10.4%
Healthcare 10.2%
Energy 8.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 77 $166.8B 61.0%
Large Cap 578 $96.3B 35.2%
Mid Cap 271 $8.3B 3.1%
Small Cap 123 $2.0B 0.7%
Micro Cap 23 $4M 0.0%

Portfolio Analytics

Avg Market Cap
$88.7B
Median Market Cap
$18.1B
Avg P/E
30.2
Median P/E
21.7
Avg Dividend Yield
0.02%
Avg Beta
0.96
# Stocks
819
# ETFs / Funds
253

Top Holdings (1,072 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.77% 84,563,575 $15.8B $186.58 $2.7B +2,052,153 +2.5%
2 AAPL 5.07% 54,442,459 $13.9B $254.63 $2.9B +886,473 +1.7%
3 MSFT 4.71% 24,842,396 $12.9B $517.95 $781M +545,027 +2.2%
4 GOOGL 3.34% 37,522,955 $9.1B $243.10 $2.7B +837,893 +2.3%
5 IEF 3.09% 87,662,438 $8.5B $96.46 $2.9B +30,011,547 +52.1%
6 AMZN 2.66% 33,103,688 $7.3B $219.57 $142M +621,669 +1.9%
7 VCIT 2.48% 80,637,353 $6.8B $84.11 -$1.7B -21,616,511 -21.1%
8 GS 1.94% 6,661,422 $5.3B $796.35 $676M +121,676 +1.9%
9 TSM 1.82% 17,833,127 $5.0B $279.29 $980M +168,171 +0.9%
10 JPM 1.81% 15,722,443 $5.0B $315.43 $502M +347,033 +2.3%
11 META 1.74% 6,496,418 $4.8B $734.38 $79M +139,751 +2.2%
12 CAT 1.65% 9,439,197 $4.5B $477.15 $848M +20,876 +0.2%
13 ASML 1.54% 4,352,596 $4.2B $968.09 $812M +108,342 +2.5%
14 AVGO 1.52% 12,611,740 $4.2B $329.91 $750M +237,295 +1.9%
15 WMT 1.52% 40,298,623 $4.2B $103.06 $275M +634,211 +1.6%
16 HD 1.50% 10,130,293 $4.1B $405.19 $463M +197,211 +2.0%
17 MS 1.42% 24,494,146 $3.9B $158.96 $507M +448,960 +1.9%
18 SAP 1.42% 14,549,331 $3.9B $267.21 -$418M +392,010 +2.8%
19 RTX 1.30% 21,174,194 $3.5B $167.33 $535M +575,004 +2.8%
20 XOM 1.29% 31,194,493 $3.5B $112.75 $191M +340,785 +1.1%
21 LLY 1.24% 4,453,062 $3.4B $763.00 $44M +150,595 +3.5%
22 C 1.23% 33,040,513 $3.4B $101.50 $616M +879,056 +2.7%
23 CVX 1.20% 21,152,060 $3.3B $155.29 $303M +325,255 +1.6%
24 SONY 1.14% 104,644,526 $3.1B $29.90 $477M +2,766,460 +2.7%
25 AXP 1.08% 8,881,546 $3.0B $332.16 $164M +146,586 +1.7%
26 COST 1.06% 3,145,241 $2.9B $925.63 -$168M +34,826 +1.1%
27 BAC 0.99% 52,677,988 $2.7B $51.59 $285M +1,272,315 +2.5%
28 ORCL 0.93% 9,045,019 $2.5B $281.24 $601M +157,272 +1.8%
29 V 0.92% 7,359,223 $2.5B $341.38 -$65M +98,902 +1.4%
30 UBS 0.92% 61,168,437 $2.5B $41.00 $532M +2,744,348 +4.7%
31 FCX 0.91% 63,258,414 $2.5B $39.22 -$222M +899,699 +1.4%
32 MA 0.90% 4,308,400 $2.5B $568.81 $62M +58,478 +1.4%
33 NFLX 0.89% 2,033,875 $2.4B $1,198.92 -$266M +14,457 +0.7%
34 BP 0.83% 65,483,232 $2.3B $34.46 $328M +1,046,236 +1.6%
35 BLK 0.81% 1,902,167 $2.2B $1,165.87 $155M -64,136 -3.3%
36 MBB 0.78% 22,503,900 $2.1B $95.15 $142M +1,206,273 +5.7%
37 SCHW 0.76% 21,646,588 $2.1B $95.47 $116M +269,898 +1.3%
38 MRK 0.74% 24,068,126 $2.0B $83.93 $40M -945,571 -3.8%
39 SHEL 0.70% 26,809,946 $1.9B $71.53 $59M +417,101 +1.6%
40 JCI 0.68% 16,959,249 $1.9B $109.95 $111M +354,266 +2.1%
41 SPOT 0.66% 2,602,625 $1.8B $698.00 -$93M +113,612 +4.6%
42 UNH 0.66% 5,252,449 $1.8B $345.30 $187M +38,977 +0.8%
43 BCS 0.65% 86,027,312 $1.8B $20.67 $234M +2,964,420 +3.6%
44 ISRG 0.64% 3,889,439 $1.7B $447.23 -$352M +40,702 +1.1%
45 INTU 0.63% 2,526,907 $1.7B $682.91 -$458M -245,547 -8.9%
46 PG 0.62% 11,008,454 $1.7B $153.65 -$56M +40,941 +0.4%
47 SPTL 0.60% 60,589,322 $1.6B $26.95 $93M +2,639,099 +4.5%
48 ABT 0.59% 12,032,884 $1.6B $133.94 -$2M +170,061 +1.4%
49 JNJ 0.57% 8,446,408 $1.6B $185.42 $303M +173,936 +2.1%
50 COF 0.57% 7,296,227 $1.6B $212.58 -$77M -357,454 -4.7%
51 NOW 0.56% 1,656,022 $1.5B $920.28 -$158M +19,734 +1.2%
52 UNP 0.56% 6,428,229 $1.5B $236.37 $47M +29,514 +0.5%
53 ADBE 0.55% 4,234,478 $1.5B $352.75 -$273M -333,339 -7.3%
54 ING 0.54% 57,140,954 $1.5B $26.08 $159M -3,752,253 -6.2%
55 MUFG 0.53% 91,486,499 $1.5B $15.94 $230M +1,973,325 +2.2%
56 CMI 0.52% 3,367,001 $1.4B $422.37 $350M +91,956 +2.8%
57 GSK 0.51% 32,227,615 $1.4B $43.16 $188M +889,210 +2.8%
58 COP 0.51% 14,653,966 $1.4B $94.59 $94M +260,091 +1.8%
59 UL 0.49% 22,537,917 $1.3B $59.28 $16M +959,269 +4.5%
60 CNQ 0.48% 41,403,027 $1.3B $31.96 -$182M -6,536,558 -13.6%
61 TM 0.48% 6,909,198 $1.3B $191.09 $144M +81,564 +1.2%
62 TMO 0.48% 2,721,101 $1.3B $485.02 $229M +31,298 +1.2%
63 BHP 0.47% 23,149,649 $1.3B $55.75 $192M +307,397 +1.4%
64 RIO 0.46% 19,120,168 $1.3B $66.01 $179M +557,234 +3.0%
65 PFE 0.46% 49,288,054 $1.3B $25.48 $83M +897,786 +1.9%
66 DE 0.46% 2,722,018 $1.2B $457.26 -$67M +141,790 +5.5%
67 HSBC 0.45% 17,398,460 $1.2B $70.98 $199M +355,089 +2.1%
68 EUFN 0.45% 35,932,610 $1.2B $34.34 $116M +587,501 +1.7%
69 SYK 0.45% 3,310,122 $1.2B $369.67 -$141M -140,114 -4.1%
70 TTE 0.44% 19,963,832 $1.2B $59.69 -$66M -522,833 -2.5%
71 BA 0.43% 5,505,040 $1.2B $215.83 $72M +177,597 +3.3%
72 PEP 0.42% 8,112,038 $1.1B $140.44 $89M +155,636 +2.0%
73 SAN 0.41% 107,629,107 $1.1B $10.48 $152M -9,962,970 -8.5%
74 MUB 0.38% 9,725,773 $1.0B $106.49 $104M +810,838 +9.1%
75 CRM 0.38% 4,328,230 $1.0B $237.00 -$127M +101,191 +2.4%
76 SBUX 0.37% 12,025,740 $1.0B $84.60 -$75M +105,760 +0.9%
77 ITW 0.35% 3,650,562 $952M $260.76 $63M +55,416 +1.5%
78 BABA 0.35% 5,293,597 $946M $178.73 $349M +26,156 +0.5%
79 VOO 0.35% 1,543,178 $945M $612.38 $81M +21,357 +1.4%
80 DB 0.34% 26,432,006 $936M $35.41 $190M +960,605 +3.8%
81 NVS 0.34% 7,239,366 $928M $128.24 $67M +117,952 +1.7%
82 CSX 0.34% 25,855,674 $918M $35.51 $94M +583,414 +2.3%
83 CARR 0.33% 15,139,140 $904M $59.70 -$198M +90,585 +0.6%
84 RY 0.32% 6,004,866 $885M $147.32 $132M +281,285 +4.9%
85 DHR 0.32% 4,369,219 $866M $198.26 $9M +28,583 +0.7%
86 QQQ 0.31% 1,396,483 $838M $600.37 $39M -52,039 -3.6%
87 TT 0.31% 1,983,671 $837M $421.96 -$37M -14,769 -0.7%
88 BSX 0.30% 8,461,025 $826M $97.63 -$2M +755,641 +9.8%
89 EMR 0.30% 6,262,570 $822M $131.18 $129M +1,069,122 +20.6%
90 BBVA 0.27% 38,310,215 $737M $19.25 $101M -3,111,897 -7.5%
91 LYG 0.25% 149,958,264 $681M $4.54 $48M +1,129,641 +0.8%
92 IXJ 0.24% 7,439,921 $659M $88.62 $65M +536,127 +7.8%
93 BUD 0.24% 11,011,683 $656M $59.61 -$76M +347,750 +3.3%
94 SU 0.24% 15,530,965 $649M $41.81 $336M +7,158,953 +85.5%
95 SNY 0.22% 12,578,746 $594M $47.20 -$41M -556,620 -4.2%
96 IR 0.21% 6,942,711 $574M $82.62 -$1M +28,787 +0.4%
97 NVO 0.21% 10,322,903 $573M $55.49 -$186M -678,013 -6.2%
98 IXC 0.21% 13,602,292 $568M $41.75 $75M +1,068,318 +8.5%
99 VEA 0.21% 9,430,708 $565M $59.92 $36M +148,111 +1.6%
100 CCI 0.19% 5,452,502 $526M $96.49 -$23M +103,153 +1.9%

New Positions

SymbolValue% Port
SANM $19M 0.01%
RMBS $16M 0.01%
P $6M —%
PPL $2M —%
OGE $2M —%
SYF $2M —%
VNOM $1M —%
ATO $1M —%
RF $1M —%
PHYS $892K —%
IEI $836K —%
SPYG $725K —%
BKLC $659K —%
JBL $606K —%
TQQQ $597K —%

Sold Out Positions

SymbolValue% Port
WEX —%
ORC —%
DGX —%
SSB —%
NEA —%
MHO —%
LUV —%
J —%
NMZ —%
DOW —%
SNOW —%
RA —%
GPC —%
RPM —%
INGR —%
View SEC EDGAR Filings for Fisher Asset Management, LLC →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms