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Fisher Funds Management LTD

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

Q3 2025 · Filed 2025-10-29
Market Value
$3.7B
-9.9%
Holdings
182
+17
New Purchases
17
Added To
21
Closed
24
Reduced
25
Top 10 Concentration
31.4%
Turnover
22.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ODFL 1.76% 0.00% +1.76% $66M
JPM 1.68% 1.01% +0.67% $63M
ICLR 2.01% 1.35% +0.66% $75M
AAPL 2.28% 1.65% +0.62% $85M
HCA 1.36% 0.74% +0.62% $51M
AVGO 2.36% 1.78% +0.58% $88M
ZTS 2.24% 1.69% +0.56% $84M
MLM 1.16% 0.66% +0.50% $43M
NEE 1.21% 0.81% +0.40% $45M
TW 0.98% 0.62% +0.36% $37M
FI 1.04% 0.69% +0.35% $39M
NKE 0.90% 0.56% +0.34% $34M
ORCL 1.10% 0.77% +0.33% $41M
ADBE 0.75% 0.43% +0.32% $28M
NVDA 1.95% 1.67% +0.29% $73M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IT 0.90% 2.53% -1.63% $34M
AMZN 4.06% 5.35% -1.29% $152M
BSX 1.26% 2.45% -1.19% $47M
ASML 1.88% 3.06% -1.18% $70M
NFLX 1.12% 2.09% -0.97% $42M
META 2.34% 3.12% -0.78% $88M
FND 2.01% 2.78% -0.76% $75M
MA 2.95% 3.64% -0.69% $110M
MSFT 5.25% 5.94% -0.68% $197M
ISRG 2.82% 3.42% -0.60% $106M
DXCM 2.19% 2.75% -0.56% $82M
CRM 1.51% 2.04% -0.53% $57M
AMT 1.24% 1.56% -0.32% $46M
OMAB 0.34% 0.65% -0.31% $13M
MSCI 1.19% 1.49% -0.30% $45M

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 41 $1.6B 42.2%
Large Cap 125 $2.0B 52.4%
Mid Cap 14 $196M 5.2%
Small Cap 1 $0 0.0%
Micro Cap 1 $8M 0.2%

Portfolio Analytics

Avg Market Cap
$287.2B
Median Market Cap
$74.1B
Avg P/E
28.1
Median P/E
23.8
Avg Dividend Yield
0.02%
Avg Beta
1.00
# Stocks
182
# ETFs / Funds
0

Top Holdings (182 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 5.25% 379,888 $197M $517.95 -$50M -116,331 -23.4%
2 GOOGL 4.27% 658,098 $160M $243.10 -$13M -325,727 -33.1%
3 AMZN 4.06% 693,305 $152M $219.57 -$70M -320,850 -31.6%
4 MA 2.95% 193,948 $110M $568.81 -$41M -75,217 -27.9%
5 DHR 2.84% 537,263 $107M $198.26 -$22M -115,209 -17.7%
6 ISRG 2.82% 236,015 $106M $447.23 -$37M -25,692 -9.8%
7 AVGO 2.36% 268,074 $88M $329.91 $15M
8 META 2.34% 119,286 $88M $734.38 -$42M -56,413 -32.1%
9 AAPL 2.28% 334,785 $85M $254.63 $17M
10 ZTS 2.24% 574,225 $84M $146.32 $14M +124,722 +27.8%
11 DXCM 2.19% 1,217,090 $82M $67.29 -$32M -91,159 -7.0%
12 FND 2.01% 1,023,727 $75M $73.70 -$40M -495,990 -32.6%
13 ICLR 2.01% 431,083 $75M $175.00 $19M +44,390 +11.5%
14 NVDA 1.95% 392,159 $73M $186.57 $4M -46,271 -10.6%
15 ASML 1.88% 72,591 $70M $968.09 -$57M -86,001 -54.2%
16 EW 1.84% 887,596 $69M $77.77 -$5M -60,565 -6.4%
17 ODFL 1.76% 468,469 $66M $140.78 +468,469 NEW
18 JPM 1.68% 199,186 $63M $315.43 $21M +54,993 +38.1%
19 CRM 1.51% 238,846 $57M $237.00 -$28M -72,868 -23.4%
20 KKR 1.49% 430,075 $56M $129.95 $4M +38,275 +9.8%
21 HCA 1.36% 119,412 $51M $426.20 $20M +38,876 +48.3%
22 TEAM 1.28% 300,526 $48M $159.70 -$6M +33,314 +12.5%
23 BSX 1.26% 483,216 $47M $97.63 -$55M -465,878 -49.1%
24 AMT 1.24% 241,562 $46M $192.32 -$18M -51,239 -17.5%
25 NEE 1.21% 598,931 $45M $75.49 $12M +114,524 +23.6%
26 MSCI 1.19% 78,653 $45M $567.41 -$17M -28,889 -26.9%
27 MLM 1.16% 68,811 $43M $630.28 $16M +18,915 +37.9%
28 NFLX 1.12% 34,895 $42M $1,198.92 -$45M -29,934 -46.2%
29 ORCL 1.10% 146,578 $41M $281.24 $9M
30 UNH 1.08% 117,641 $41M $345.30 -$15M -61,714 -34.4%
31 CMS 1.06% 543,112 $40M $73.26 -$14M -237,494 -30.4%
32 KMI 1.05% 1,395,269 $40M $28.31 -$16M -508,646 -26.7%
33 FI 1.04% 301,359 $39M $128.93 $10M +135,728 +82.0%
34 TW 0.98% 331,279 $37M $110.98 $11M +155,922 +88.9%
35 FERG 0.96% 160,428 $36M $224.58 $3M +10,426 +7.0%
36 UNP 0.96% 151,371 $36M $236.37 $952K
37 IT 0.90% 128,383 $34M $262.87 -$71M -131,932 -50.7%
38 NKE 0.90% 481,522 $34M $69.73 $10M +154,055 +47.0%
39 BRK-B 0.87% 64,785 $33M $502.74 $1M
40 ABBV 0.80% 129,479 $30M $231.54 $6M
41 CSCO 0.78% 427,712 $29M $68.42 -$411K
42 JNJ 0.77% 156,053 $29M $185.42 $5M
43 AJG 0.76% 92,078 $29M $309.74 $8M +26,612 +40.6%
44 ADBE 0.75% 79,948 $28M $352.75 $10M +33,502 +72.1%
45 PGR 0.73% 110,245 $27M $246.95 $5M +27,240 +32.8%
46 COST 0.71% 28,826 $27M $925.63 $3M +4,572 +18.9%
47 HD 0.70% 64,302 $26M $405.19 $2M
48 DE 0.69% 56,116 $26M $457.26 $6M +17,952 +47.0%
49 T 0.64% 847,357 $24M $28.23 -$602K
50 IBM 0.57% 75,339 $21M $282.16 -$951K
51 WMB 0.56% 333,234 $21M $63.35 $180K
52 HUM 0.55% 79,282 $21M $260.17 $7M +23,867 +43.1%
53 GOOG 0.55% 84,674 $21M $243.55 $6M
54 CCI 0.55% 212,193 $20M $96.49 -$1M
55 PG 0.48% 116,244 $18M $153.65 -$659K
56 URI 0.47% 18,539 $18M $954.66 $4M
57 IBP 0.45% 68,943 $17M $246.66 $2M -11,793 -14.6%
58 AMAT 0.44% 81,063 $17M $204.73 $2M
59 VZ 0.44% 375,497 $17M $43.95 $255K
60 EQIX 0.43% 20,698 $16M $783.24 -$10M -12,668 -38.0%
61 QCOM 0.43% 96,161 $16M $166.36 $683K
62 MRK 0.43% 190,238 $16M $83.93 $907K
63 WCN 0.41% 88,336 $16M $175.80 $5M +29,925 +51.2%
64 STLD 0.39% 104,541 $15M $139.43 $1M
65 WBD 0.36% 694,932 $14M $19.53 $6M
66 BK 0.35% 121,682 $13M $108.96 $2M
67 ASR 0.35% 40,654 $13M $323.33 $2M +4,786 +13.3%
68 EMR 0.35% 98,998 $13M $131.18 -$213K
69 OMAB 0.34% 123,968 $13M $103.87 -$14M -132,404 -51.6%
70 LOW 0.34% 50,895 $13M $251.31 $1M
71 PH 0.34% 16,739 $13M $758.15 $999K
72 PPL 0.32% 324,754 $12M $37.16 $1M
73 MDLZ 0.31% 188,734 $12M $62.46 -$939K
74 MU 0.31% 68,962 $12M $167.39 $3M
75 EPD 0.30% 359,963 $11M $31.27 -$2M -72,772 -16.8%
76 ALL 0.30% 52,294 $11M $214.65 $698K
77 NUE 0.28% 77,627 $11M $135.43 $457K
78 AMP 0.28% 21,374 $10M $491.25 -$908K
79 INTC 0.27% 304,713 $10M $33.57 $3M
80 PFE 0.27% 401,134 $10M $25.48 $495K
81 MCK 0.27% 13,118 $10M $772.54 $522K
82 AFL 0.27% 89,565 $10M $111.70 $559K
83 AWK 0.26% 70,789 $10M $139.19 $6K
84 CMCSA 0.26% 311,422 $10M $31.42 -$1M
85 F-PD 0.26% 816,282 $10M $11.96 $906K
86 EXC 0.26% 216,711 $10M $45.01 $345K
87 CI 0.25% 32,735 $9M $288.25 -$1M
88 ABT 0.25% 70,035 $9M $133.94 -$145K
89 CRH.L 0.24% 74,967 $9M $119.90 $2M
90 V 0.24% 25,796 $9M $341.38 -$353K
91 ATO 0.23% 49,500 $8M $170.75 $824K
92 AMGN 0.22% 29,841 $8M $282.20 $89K
93 BAC 0.22% 162,734 $8M $51.59 $695K
94 ADI 0.22% 32,967 $8M $245.70 $253K
95 DRTSW 0.22% 166,836 $8M $48.53 -$170K
96 CBRE 0.21% 50,913 $8M $157.56 $888K
97 LLY 0.21% 10,451 $8M $763.00 -$173K
98 CVS 0.21% 103,095 $8M $75.39 $661K
99 TEL 0.21% 35,377 $8M $219.53 $2M
100 LRCX 0.19% 53,433 $7M $133.90 $2M

New Positions

SymbolValue% Port
ODFL $66M 1.76%
VRT $1M 0.04%
DELL $1M 0.04%
MRVL $1M 0.04%
IBKR $1M 0.04%
HPE $1M 0.04%
NXPI $1M 0.04%
MS $1M 0.03%
GS $1M 0.03%
WFC $1M 0.03%
RCL $1M 0.03%
C $1M 0.03%
DAL $1M 0.03%
VST $1M 0.03%
COF $1M 0.03%

Sold Out Positions

SymbolValue% Port
ARW —%
STLA —%
FMC —%
FNF —%
CE —%
CNP —%
IP —%
CF —%
CAG —%
NI —%
OGN —%
ESS —%
SOLV —%
FG —%
SWK —%
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