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Asset Manager ← All Institutions

Fisher Asset Management, LLC

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

Q4 2025 · Filed 2026-02-09
Market Value
$288.3B
+5.4%
Holdings
1,102
+30
New Purchases
108
Added To
474
Closed
110
Reduced
390
Top 10 Concentration
34.6%
Turnover
19.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IEF 4.50% 3.09% +1.41% $13.0B
GOOGL 4.14% 3.34% +0.80% $11.9B
LLY 1.72% 1.24% +0.47% $5.0B
TOTB.DE 0.44% 0.00% +0.44% $1.3B
CAT 1.89% 1.65% +0.24% $5.4B
FCX 1.13% 0.91% +0.22% $3.2B
MRK 0.91% 0.74% +0.17% $2.6B
C 1.37% 1.23% +0.15% $4.0B
BCS 0.79% 0.65% +0.14% $2.3B
AVGO 1.66% 1.52% +0.14% $4.8B
AAPL 5.20% 5.07% +0.13% $15.0B
GS 2.06% 1.94% +0.12% $6.0B
ASML 1.66% 1.54% +0.12% $4.8B
MS 1.54% 1.42% +0.12% $4.4B
UBS 1.03% 0.92% +0.11% $3.0B

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MBB 0.03% 0.78% -0.75% $101M
SPTL 0.01% 0.60% -0.59% $29M
UL 0.00% 0.49% -0.49% $0
MSFT 4.24% 4.71% -0.46% $12.2B
TTE 0.00% 0.44% -0.44% $0
ORCL 0.63% 0.93% -0.30% $1.8B
HD 1.21% 1.50% -0.29% $3.5B
META 1.51% 1.74% -0.23% $4.4B
NFLX 0.67% 0.89% -0.23% $1.9B
NVDA 5.57% 5.77% -0.20% $16.0B
SAP 1.24% 1.42% -0.18% $3.6B
SONY 0.97% 1.14% -0.18% $2.8B
BLK 0.68% 0.81% -0.13% $2.0B
SPOT 0.54% 0.66% -0.13% $1.5B
COST 0.95% 1.06% -0.11% $2.7B

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 78 $177.0B 61.4%
Large Cap 605 $100.5B 34.9%
Mid Cap 283 $8.7B 3.0%
Small Cap 119 $2.0B 0.7%
Micro Cap 17 $7M 0.0%

Portfolio Analytics

Avg Market Cap
$87.5B
Median Market Cap
$18.5B
Avg P/E
30.7
Median P/E
21.9
Avg Dividend Yield
0.02%
Avg Beta
0.96
# Stocks
840
# ETFs / Funds
262

Top Holdings (1,102 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.57% 86,057,537 $16.0B $186.50 $272M +1,493,962 +1.8%
2 AAPL 5.20% 55,146,752 $15.0B $271.86 $1.1B +704,293 +1.3%
3 IEF 4.50% 134,832,971 $13.0B $96.16 $4.5B +47,170,533 +53.8%
4 MSFT 4.24% 25,300,410 $12.2B $483.62 -$631M +458,014 +1.8%
5 GOOGL 4.14% 38,106,033 $11.9B $313.00 $2.8B +583,078 +1.6%
6 AMZN 2.69% 33,593,612 $7.8B $230.82 $486M +489,924 +1.5%
7 VCIT 2.44% 83,976,379 $7.0B $83.75 $251M +3,339,026 +4.1%
8 GS 2.06% 6,771,556 $6.0B $879.00 $647M +110,134 +1.6%
9 TSM 1.91% 18,146,900 $5.5B $303.89 $534M +313,773 +1.8%
10 CAT 1.89% 9,493,266 $5.4B $572.87 $934M +54,069 +0.6%
11 JPM 1.79% 16,018,656 $5.2B $322.22 $202M +296,213 +1.9%
12 LLY 1.72% 4,606,327 $5.0B $1,074.68 $1.6B +153,265 +3.4%
13 ASML 1.66% 4,484,949 $4.8B $1,069.86 $585M +132,353 +3.0%
14 AVGO 1.66% 13,844,206 $4.8B $346.10 $631M +1,232,466 +9.8%
15 WMT 1.57% 40,626,852 $4.5B $111.41 $373M +328,229 +0.8%
16 MS 1.54% 25,018,335 $4.4B $177.53 $548M +524,189 +2.1%
17 META 1.51% 6,609,892 $4.4B $660.09 -$408M +113,474 +1.8%
18 RTX 1.39% 21,800,188 $4.0B $183.40 $455M +625,994 +3.0%
19 C 1.37% 33,887,285 $4.0B $116.69 $601M +846,772 +2.6%
20 XOM 1.31% 31,497,852 $3.8B $120.34 $273M +303,359 +1.0%
21 SAP 1.24% 14,728,881 $3.6B $242.91 -$310M +179,550 +1.2%
22 HD 1.21% 10,154,469 $3.5B $344.10 -$611M +24,176 +0.2%
23 AXP 1.16% 9,023,482 $3.3B $369.95 $388M +141,936 +1.6%
24 CVX 1.14% 21,471,919 $3.3B $152.41 -$12M +319,859 +1.5%
25 FCX 1.13% 63,880,757 $3.2B $50.79 $764M +622,343 +1.0%
26 UBS 1.03% 64,107,264 $3.0B $46.31 $461M +2,938,827 +4.8%
27 BAC 1.03% 53,783,821 $3.0B $55.00 $240M +1,105,833 +2.1%
28 SONY 0.97% 108,981,588 $2.8B $25.60 -$339M +4,337,062 +4.1%
29 COST 0.95% 3,176,286 $2.7B $862.34 -$172M +31,045 +1.0%
30 V 0.91% 7,485,132 $2.6B $350.71 $113M +125,909 +1.7%
31 MRK 0.91% 24,873,327 $2.6B $105.26 $598M +805,201 +3.4%
32 MA 0.86% 4,355,805 $2.5B $570.88 $36M +47,405 +1.1%
33 BP 0.80% 66,431,924 $2.3B $34.73 $51M +948,692 +1.4%
34 BCS 0.79% 89,750,069 $2.3B $25.45 $506M +3,722,757 +4.3%
35 SCHW 0.76% 21,818,514 $2.2B $99.91 $113M +171,926 +0.8%
36 ISRG 0.74% 3,784,970 $2.1B $566.36 $404M -104,469 -2.7%
37 JCI 0.72% 17,239,953 $2.1B $119.75 $200M +280,704 +1.7%
38 SHEL 0.69% 27,142,785 $2.0B $73.48 $77M +332,839 +1.2%
39 BLK 0.68% 1,824,359 $2.0B $1,070.34 -$265M -77,808 -4.1%
40 NFLX 0.67% 20,490,399 $1.9B $93.76 -$517M +18,456,524 +907.5%
41 JNJ 0.64% 8,866,207 $1.8B $206.95 $269M +419,799 +5.0%
42 ORCL 0.63% 9,314,177 $1.8B $194.91 -$728M +269,158 +3.0%
43 UNH 0.61% 5,293,622 $1.7B $330.11 -$66M +41,173 +0.8%
44 CMI 0.60% 3,410,723 $1.7B $510.45 $319M +43,722 +1.3%
45 COF 0.58% 6,937,362 $1.7B $242.36 $130M -358,865 -4.9%
46 GSK 0.56% 33,195,985 $1.6B $49.04 $237M +968,370 +3.0%
47 TMO 0.56% 2,792,421 $1.6B $579.45 $298M +71,320 +2.6%
48 RIO 0.55% 19,642,744 $1.6B $80.03 $310M +522,576 +2.7%
49 PG 0.54% 10,908,367 $1.6B $143.31 -$128M -100,087 -0.9%
50 SPOT 0.54% 2,665,512 $1.5B $580.71 -$269M +62,887 +2.4%
51 INTU 0.52% 2,284,310 $1.5B $662.42 -$212M -242,597 -9.6%
52 TM 0.52% 6,995,672 $1.5B $214.06 $177M +86,474 +1.2%
53 ING 0.52% 53,221,109 $1.5B $28.00 -$45K -3,919,845 -6.9%
54 UNP 0.52% 6,430,808 $1.5B $231.32 -$32M +2,579 +0.0%
55 MUFG 0.51% 93,276,119 $1.5B $15.86 $21M +1,789,620 +2.0%
56 CNQ 0.50% 42,745,981 $1.4B $33.85 $124M +1,342,954 +3.2%
57 ABT 0.50% 11,440,255 $1.4B $125.29 -$178M -592,629 -4.9%
58 BHP 0.49% 23,402,474 $1.4B $60.37 $122M +252,825 +1.1%
59 HSBC 0.49% 17,800,748 $1.4B $78.67 $165M +402,288 +2.3%
60 COP 0.48% 14,847,367 $1.4B $93.61 $4M +193,401 +1.3%
61 ADBE 0.48% 3,961,853 $1.4B $349.99 -$107M -272,625 -6.4%
62 EUFN 0.48% 37,017,326 $1.4B $37.09 $139M +1,084,716 +3.0%
63 DE 0.46% 2,853,156 $1.3B $465.57 $84M +131,138 +4.8%
64 PFE 0.45% 51,952,106 $1.3B $24.90 $38M +2,664,052 +5.4%
65 NOW 0.44% 8,351,824 $1.3B $153.19 -$245M +6,695,802 +404.3%
66 TOTB.DE 0.44% 19,324,336 $1.3B $65.42 +19,324,336 NEW
67 BA 0.42% 5,640,900 $1.2B $217.12 $37M +135,860 +2.5%
68 PEP 0.41% 8,295,329 $1.2B $143.52 $51M +183,291 +2.3%
69 MUB 0.40% 10,713,817 $1.1B $107.11 $112M +988,044 +10.2%
70 SAN 0.39% 96,865,591 $1.1B $11.73 $8M -10,763,516 -10.0%
71 CRM 0.39% 4,278,477 $1.1B $264.91 $108M -49,753 -1.1%
72 SYK 0.38% 3,117,283 $1.1B $351.47 -$128M -192,839 -5.8%
73 RY 0.38% 6,373,400 $1.1B $170.49 $202M +368,534 +6.1%
74 DB 0.37% 27,398,661 $1.1B $38.56 $121M +966,655 +3.7%
75 NVS 0.36% 7,465,850 $1.0B $137.87 $101M +226,484 +3.1%
76 DHR 0.35% 4,446,976 $1.0B $228.92 $152M +77,757 +1.8%
77 SBUX 0.35% 12,028,803 $1.0B $84.21 -$4M +3,063 +0.0%
78 VOO 0.34% 1,551,244 $973M $627.13 $28M +8,066 +0.5%
79 CSX 0.33% 26,515,831 $961M $36.25 $43M +660,157 +2.5%
80 EMR 0.33% 7,191,118 $954M $132.72 $133M +928,548 +14.8%
81 ITW 0.32% 3,705,081 $913M $246.30 -$39M +54,519 +1.5%
82 BSX 0.30% 9,138,216 $871M $95.35 $45M +677,191 +8.0%
83 QQQ 0.29% 1,352,626 $831M $614.31 -$7M -43,857 -3.1%
84 LYG 0.28% 151,258,982 $802M $5.30 $121M +1,300,718 +0.9%
85 BBVA 0.27% 33,954,738 $791M $23.31 $54M -4,355,477 -11.4%
86 IXJ 0.27% 8,032,598 $782M $97.40 $123M +592,677 +8.0%
87 BABA 0.27% 5,335,894 $782M $146.58 -$164M +42,297 +0.8%
88 CARR 0.27% 14,795,099 $782M $52.84 -$122M -344,041 -2.3%
89 TT 0.26% 1,960,522 $763M $389.20 -$74M -23,149 -1.2%
90 SU 0.26% 16,820,924 $746M $44.36 $97M +1,289,959 +8.3%
91 BUD 0.25% 11,380,404 $729M $64.04 $72M +368,721 +3.4%
92 IXC 0.21% 14,729,493 $618M $41.93 $50M +1,127,201 +8.3%
93 VEA 0.21% 9,468,021 $591M $62.47 $26M +37,313 +0.4%
94 SNY 0.20% 12,140,615 $588M $48.46 -$5M -438,131 -3.5%
95 PCAR 0.19% 5,073,161 $556M $109.51 $53M -34,795 -0.7%
96 IR 0.19% 6,927,262 $549M $79.22 -$25M -15,449 -0.2%
97 GOOG 0.19% 1,720,004 $540M $313.80 $123M +8,761 +0.5%
98 PH 0.17% 571,270 $502M $878.96 $91M +28,933 +5.3%
99 NVO 0.17% 9,784,222 $498M $50.88 -$75M -538,681 -5.2%
100 CCI 0.17% 5,506,580 $489M $88.87 -$37M +54,078 +1.0%

New Positions

SymbolValue% Port
TOTB.DE $1.3B 0.44%
BDC $43M 0.01%
BELFB $43M 0.01%
FDP $21M 0.01%
ACLX $21M 0.01%
CVLT $20M 0.01%
BBIO $18M 0.01%
MICC $10M —%
PTGX $6M —%
KURA $5M —%
DYN $5M —%
POWW $3M —%
CFLT $2M —%
WDC $2M —%
FOX $2M —%

Sold Out Positions

SymbolValue% Port
TMHC —%
BLDR —%
GMED —%
HAYW —%
HUBS —%
ABR —%
GAB —%
YELP —%
RYZ —%
ZBH —%
WHD —%
FNF —%
FSK —%
WMS —%
SMG —%
View SEC EDGAR Filings for Fisher Asset Management, LLC →

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