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Fisher Funds Management LTD

PO BOX 33549 TAKAPUNA, AUCKLAND, Q2 0622 • 649 445 3377

Q2 2025 · Filed 2025-08-04
Market Value
$4.2B
+2.2%
Holdings
165
+5
New Purchases
5
Added To
13
Closed
0
Reduced
132
Top 10 Concentration
37.3%
Turnover
3.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ISRG 3.42% 2.48% +0.94% $142M
NEE 0.81% 0.00% +0.81% $34M
KKR 1.25% 0.50% +0.75% $52M
TW 0.62% 0.00% +0.62% $26M
NVDA 1.67% 1.06% +0.60% $69M
COST 0.58% 0.00% +0.58% $24M
AVGO 1.78% 1.23% +0.55% $74M
GOOGL 4.17% 3.63% +0.54% $173M
CRM 2.04% 1.51% +0.53% $85M
IT 2.53% 2.08% +0.45% $105M
ADBE 0.43% 0.00% +0.43% $18M
MA 3.64% 3.33% +0.31% $151M
EW 1.78% 1.48% +0.30% $74M
NKE 0.56% 0.31% +0.25% $23M
META 3.12% 2.88% +0.24% $130M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
UNH 1.35% 3.11% -1.76% $56M
ICLR 1.35% 2.22% -0.87% $56M
AAPL 1.65% 2.03% -0.38% $69M
CMCSA 0.27% 0.63% -0.36% $11M
FND 2.78% 3.10% -0.33% $115M
MSCI 1.49% 1.80% -0.31% $62M
OMAB 0.65% 0.91% -0.26% $27M
AJG 0.50% 0.74% -0.23% $21M
ABBV 0.58% 0.77% -0.20% $24M
BSX 2.45% 2.63% -0.18% $102M
ASML 3.06% 3.23% -0.18% $127M
AMT 1.56% 1.73% -0.18% $65M
PGR 0.53% 0.70% -0.17% $22M
AWK 0.24% 0.40% -0.16% $10M
CMS 1.30% 1.44% -0.14% $54M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 22.1%
Healthcare 18.9%
Financial Services 15.2%
Communication Services 11.3%
Consumer Cyclical 9.5%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 35 $1.8B 43.5%
Large Cap 114 $2.1B 50.6%
Mid Cap 14 $238M 5.7%
Small Cap 1 $1M 0.0%
Micro Cap 1 $8M 0.2%

Portfolio Analytics

Avg Market Cap
$297.6B
Median Market Cap
$66.0B
Avg P/E
26.9
Median P/E
23.8
Avg Dividend Yield
0.02%
Avg Beta
0.95
# Stocks
165
# ETFs / Funds
0

Top Holdings (165 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 5.94% 496,219 $247M $497.41 $5M -146,984 -22.9%
2 AMZN 5.35% 1,014,155 $222M $219.39 $9M -110,324 -9.8%
3 GOOGL 4.17% 983,825 $173M $176.23 $26M +29,202 +3.1%
4 MA 3.64% 269,165 $151M $561.94 $16M +22,401 +9.1%
5 ISRG 3.42% 261,707 $142M $543.41 $41M +58,103 +28.5%
6 META 3.12% 175,699 $130M $738.09 $13M -27,194 -13.4%
7 DHR 3.10% 652,472 $129M $197.54 $12M +79,826 +13.9%
8 ASML 3.06% 158,592 $127M $801.39 -$4M -39,886 -20.1%
9 FND 2.78% 1,519,717 $115M $75.96 -$11M -49,077 -3.1%
10 DXCM 2.75% 1,308,249 $114M $87.29 $2M -339,084 -20.6%
11 IT 2.53% 260,315 $105M $404.22 $21M +59,151 +29.4%
12 BSX 2.45% 949,094 $102M $107.41 -$5M -112,798 -10.6%
13 NFLX 2.09% 64,829 $87M $1,339.13 $2M -26,485 -29.0%
14 CRM 2.04% 311,714 $85M $272.69 $24M +82,737 +36.1%
15 EW 1.78% 948,161 $74M $78.21 $14M +115,686 +13.9%
16 AVGO 1.78% 268,074 $74M $275.65 $24M -29,786 -10.0%
17 ZTS 1.69% 449,503 $70M $155.95 -$199K +22,543 +5.3%
18 NVDA 1.67% 438,430 $69M $157.99 $26M +39,887 +10.0%
19 AAPL 1.65% 334,785 $69M $205.17 -$14M -37,198 -10.0%
20 AMT 1.56% 292,801 $65M $221.02 -$6M -31,076 -9.6%
21 MSCI 1.49% 107,542 $62M $576.74 -$11M -21,919 -16.9%
22 ICLR 1.35% 386,693 $56M $145.45 -$34M -129,973 -25.2%
23 KMI 1.35% 1,903,915 $56M $29.40 -$1M -101,999 -5.1%
24 UNH 1.35% 179,355 $56M $311.97 -$70M -61,896 -25.7%
25 TEAM 1.31% 267,212 $54M $203.09 $2M +20,046 +8.1%
26 CMS 1.30% 780,606 $54M $69.28 -$5M
27 KKR 1.25% 391,800 $52M $133.03 $32M +214,808 +121.4%
28 JPM 1.01% 144,193 $42M $289.91 $5M -7,662 -5.0%
29 UNP 0.84% 151,371 $35M $230.08 -$2M -3,129 -2.0%
30 NEE 0.81% 484,407 $34M $69.42 +484,407 NEW
31 FERG 0.79% 150,002 $33M $217.75 $9M
32 ORCL 0.77% 146,578 $32M $218.63 $9M -16,286 -10.0%
33 BRK-B 0.76% 64,785 $31M $485.77 -$3M
34 HCA 0.74% 80,536 $31M $383.10 $1M -4,583 -5.4%
35 CSCO 0.71% 427,712 $30M $69.38 $348K -47,523 -10.0%
36 FI 0.69% 165,631 $29M $172.41 -$3M +24,962 +17.8%
37 MLM 0.66% 49,896 $27M $548.96 $4M
38 OMAB 0.65% 256,372 $27M $105.50 -$10M -214,575 -45.6%
39 EQIX 0.64% 33,366 $27M $795.47 -$663K
40 TW 0.62% 175,357 $26M $146.40 +175,357 NEW
41 T 0.59% 847,357 $25M $28.94 -$4M -178,566 -17.4%
42 ABBV 0.58% 129,479 $24M $185.62 -$7M -20,753 -13.8%
43 COST 0.58% 24,254 $24M $989.94 +24,254 NEW
44 JNJ 0.57% 156,053 $24M $152.75 -$5M -17,339 -10.0%
45 HD 0.57% 64,302 $24M $366.64 -$3M -7,144 -10.0%
46 NKE 0.56% 327,467 $23M $71.04 $11M +130,701 +66.4%
47 IBM 0.53% 75,339 $22M $294.78 $1M -8,371 -10.0%
48 PGR 0.53% 83,005 $22M $266.86 -$6M -17,480 -17.4%
49 CCI 0.52% 212,193 $22M $102.73 -$318K
50 AJG 0.50% 65,466 $21M $320.12 -$9M -21,522 -24.7%
51 WMB 0.50% 333,234 $21M $62.81 $1M
52 DE 0.47% 38,164 $19M $508.49 $183K -2,792 -6.8%
53 PG 0.45% 116,244 $19M $159.32 -$3M -12,915 -10.0%
54 ADBE 0.43% 46,446 $18M $386.88 +46,446 NEW
55 VZ 0.39% 375,497 $16M $43.27 -$3M -41,721 -10.0%
56 QCOM 0.37% 96,161 $15M $159.26 -$1M -10,684 -10.0%
57 MRK 0.36% 190,238 $15M $79.16 -$4M -21,137 -10.0%
58 GOOG 0.36% 84,674 $15M $177.39 $322K -9,408 -10.0%
59 AMAT 0.36% 81,063 $15M $183.07 $2M -9,006 -10.0%
60 IBP 0.35% 80,736 $15M $180.32 $715K
61 URI 0.34% 18,539 $14M $753.40 $1M -2,059 -10.0%
62 HUM 0.33% 55,415 $14M $244.48 -$4M -11,885 -17.7%
63 EPD 0.32% 432,735 $13M $31.01 -$1M
64 STLD 0.32% 104,541 $13M $128.01 -$1M -11,615 -10.0%
65 EMR 0.32% 98,998 $13M $133.33 $1M -10,999 -10.0%
66 MDLZ 0.31% 188,734 $13M $67.44 -$2M -20,970 -10.0%
67 PH 0.28% 16,739 $12M $698.47 $387K -1,859 -10.0%
68 ASR 0.28% 35,868 $11M $318.87 -$3M -16,389 -31.4%
69 AMP 0.27% 21,374 $11M $533.73 -$89K -2,374 -10.0%
70 LOW 0.27% 50,895 $11M $221.87 -$2M -5,654 -10.0%
71 CMCSA 0.27% 311,422 $11M $35.69 -$14M -380,889 -55.0%
72 BK 0.27% 121,682 $11M $91.11 -$253K -13,520 -10.0%
73 PPL 0.26% 324,754 $11M $33.89 -$2M -36,083 -10.0%
74 WCN 0.26% 58,411 $11M $186.72 -$495K
75 CI 0.26% 32,735 $11M $330.58 -$1M -3,637 -10.0%
76 ALL 0.25% 52,294 $11M $201.31 -$2M -5,810 -10.0%
77 NUE 0.24% 77,627 $10M $129.54 -$324K -8,625 -10.0%
78 AWK 0.24% 70,789 $10M $139.11 -$6M -39,678 -35.9%
79 PFE 0.23% 401,134 $10M $24.24 -$2M -44,570 -10.0%
80 MCK 0.23% 13,118 $10M $732.78 -$196K -1,457 -10.0%
81 ABT 0.23% 70,035 $10M $136.01 -$798K -7,781 -10.0%
82 AFL 0.23% 89,565 $9M $105.46 -$2M -9,951 -10.0%
83 EXC 0.23% 216,711 $9M $43.42 -$2M -24,078 -10.0%
84 V 0.22% 25,796 $9M $355.05 -$886K -2,866 -10.0%
85 F-PD 0.21% 816,282 $9M $10.85 -$240K -90,698 -10.0%
86 MU 0.20% 68,962 $8M $123.25 $2M -7,662 -10.0%
87 ANTM 0.20% 21,492 $8M $388.96 -$2M -2,387 -10.0%
88 AMGN 0.20% 29,841 $8M $279.21 -$2M -3,315 -10.0%
89 DRTSW 0.20% 166,836 $8M $49.55 +166,836 NEW
90 LLY 0.20% 10,451 $8M $779.53 -$1M -1,161 -10.0%
91 WBD 0.19% 694,932 $8M $11.46 -$321K -77,214 -10.0%
92 ADI 0.19% 32,967 $8M $238.02 $460K -3,663 -10.0%
93 BAC 0.19% 162,734 $8M $47.32 $155K -18,081 -10.0%
94 ATO 0.18% 49,500 $8M $154.11 -$873K -5,499 -10.0%
95 CBRE 0.17% 50,913 $7M $140.12 -$264K -5,656 -10.0%
96 CVS 0.17% 103,095 $7M $68.98 -$649K -11,454 -10.0%
97 CRH.L 0.17% 74,967 $7M $91.80 -$446K -8,329 -10.0%
98 INTC 0.16% 304,713 $7M $22.40 -$863K -33,856 -10.0%
99 WAB 0.16% 32,238 $7M $209.35 $253K -3,581 -10.0%
100 TRV 0.16% 25,120 $7M $267.54 -$661K -2,791 -10.0%

New Positions

SymbolValue% Port
NEE $34M 0.81%
TW $26M 0.62%
COST $24M 0.58%
ADBE $18M 0.43%
DRTSW $8M 0.20%
View SEC EDGAR Filings for Fisher Funds Management LTD →

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