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Fisher Funds Management LTD

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

Q4 2025 · Filed 2026-01-26
Market Value
$3.8B
+2.6%
Holdings
164
-18
New Purchases
6
Added To
25
Closed
1
Reduced
22
Top 10 Concentration
31.1%
Turnover
4.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
META 3.07% 2.34% +0.73% $118M
EFX 0.73% 0.00% +0.73% $28M
NVDA 2.63% 1.95% +0.68% $101M
PAC 0.68% 0.00% +0.68% $26M
MSCI 1.71% 1.19% +0.52% $66M
MCK 0.75% 0.27% +0.48% $29M
ODFL 2.21% 1.76% +0.45% $85M
CRM 1.95% 1.51% +0.44% $75M
ICLR 2.43% 2.01% +0.41% $93M
NFLX 1.52% 1.12% +0.41% $58M
MSFT 5.62% 5.25% +0.37% $216M
AXP 0.35% 0.00% +0.35% $13M
WCN 0.73% 0.41% +0.32% $28M
MELI 0.25% 0.00% +0.25% $10M
UBER 0.25% 0.00% +0.25% $9M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ISRG 1.64% 2.82% -1.18% $63M
FI 0.06% 1.04% -0.98% $2M
ASML 1.00% 1.88% -0.87% $38M
GOOGL 3.59% 4.27% -0.68% $138M
UNH 0.42% 1.08% -0.66% $16M
FND 1.42% 2.01% -0.60% $55M
DHR 2.37% 2.84% -0.47% $91M
ZTS 1.87% 2.24% -0.37% $72M
ORCL 0.75% 1.10% -0.35% $29M
EMR 0.00% 0.35% -0.35% $0
BSX 0.92% 1.26% -0.34% $35M
AVGO 2.03% 2.36% -0.33% $78M
MA 2.64% 2.95% -0.30% $102M
ADBE 0.49% 0.75% -0.26% $19M
UNP 0.69% 0.96% -0.26% $27M

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 42 $1.6B 42.3%
Large Cap 115 $2.0B 52.3%
Mid Cap 6 $199M 5.2%
Micro Cap 1 $9M 0.2%

Portfolio Analytics

Avg Market Cap
$318.9B
Median Market Cap
$85.8B
Avg P/E
29.1
Median P/E
25.4
Avg Dividend Yield
0.02%
Avg Beta
1.03
# Stocks
164
# ETFs / Funds
0

Top Holdings (164 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 5.62% 445,659 $216M $484.75 $19M +65,771 +17.3%
2 AMZN 4.11% 683,197 $158M $231.07 $6M -10,108 -1.5%
3 GOOGL 3.59% 440,524 $138M $313.42 -$22M -217,574 -33.1%
4 META 3.07% 178,531 $118M $661.02 $30M +59,245 +49.7%
5 MA 2.64% 177,303 $102M $572.93 -$9M -16,645 -8.6%
6 NVDA 2.63% 538,479 $101M $187.57 $28M +146,320 +37.3%
7 ICLR 2.43% 513,102 $93M $181.65 $18M +82,019 +19.0%
8 DHR 2.37% 397,715 $91M $229.38 -$15M -139,548 -26.0%
9 AAPL 2.37% 334,785 $91M $272.44 $6M
10 ODFL 2.21% 538,799 $85M $157.82 $19M +70,330 +15.0%
11 DXCM 2.11% 1,218,848 $81M $66.54 -$796K +1,758 +0.1%
12 AVGO 2.03% 225,044 $78M $347.30 -$10M -43,030 -16.1%
13 CRM 1.95% 282,465 $75M $265.28 $18M +43,619 +18.3%
14 ZTS 1.87% 569,266 $72M $126.18 -$12M -4,959 -0.9%
15 MSCI 1.71% 113,733 $66M $577.19 $21M +35,080 +44.6%
16 EW 1.70% 761,899 $65M $85.51 -$4M -125,697 -14.2%
17 JPM 1.68% 199,186 $64M $323.49 $2M
18 ISRG 1.64% 110,764 $63M $569.39 -$42M -125,251 -53.1%
19 NFLX 1.52% 622,895 $58M $93.88 $17M +588,000 +1685.1%
20 FND 1.42% 890,936 $55M $61.17 -$21M -132,791 -13.0%
21 TEAM 1.42% 334,011 $54M $162.99 $6M +33,485 +11.1%
22 AMT 1.32% 287,681 $51M $176.24 $4M +46,119 +19.1%
23 KKR 1.30% 390,887 $50M $127.71 -$6M -39,188 -9.1%
24 NEE 1.30% 619,640 $50M $80.50 $5M +20,709 +3.5%
25 HCA 1.13% 92,756 $43M $466.56 -$8M -26,656 -22.3%
26 IT 1.07% 162,614 $41M $253.87 $8M +34,231 +26.7%
27 ASML 1.00% 35,905 $38M $1,071.23 -$32M -36,686 -50.5%
28 KMI 1.00% 1,395,269 $38M $27.50 -$1M
29 TW 0.98% 348,380 $38M $108.28 $957K +17,101 +5.2%
30 PGR 0.95% 158,416 $36M $229.15 $9M +48,171 +43.7%
31 MLM 0.94% 57,950 $36M $626.21 -$7M -10,861 -15.8%
32 AJG 0.94% 137,840 $36M $261.00 $7M +45,762 +49.7%
33 FERG 0.93% 160,428 $36M $223.29 -$207K
34 CMS 0.93% 508,558 $36M $70.10 -$4M -34,554 -6.4%
35 BSX 0.92% 370,577 $35M $95.72 -$12M -112,639 -23.3%
36 NKE 0.91% 547,474 $35M $63.84 $1M +65,952 +13.7%
37 BRK-B 0.85% 64,785 $33M $504.92 $141K
38 JNJ 0.84% 156,053 $32M $207.14 $3M
39 CSCO 0.82% 409,822 $32M $77.27 $2M -17,890 -4.2%
40 ABBV 0.77% 129,479 $30M $229.56 -$256K
41 HUM 0.76% 113,467 $29M $257.93 $9M +34,185 +43.1%
42 MCK 0.75% 34,969 $29M $824.75 $19M +21,851 +166.6%
43 ORCL 0.75% 146,578 $29M $195.68 -$13M
44 WCN 0.73% 159,613 $28M $176.37 $13M +71,277 +80.7%
45 CCI 0.73% 316,014 $28M $89.05 $8M +103,821 +48.9%
46 EFX 0.73% 128,154 $28M $217.62 +128,154 NEW
47 COST 0.71% 31,698 $27M $863.88 $701K +2,872 +10.0%
48 UNP 0.69% 115,129 $27M $231.70 -$9M -36,242 -23.9%
49 DE 0.68% 56,116 $26M $467.91 $597K
50 PAC 0.68% 99,446 $26M $260.77 +99,446 NEW
51 GOOG 0.66% 80,069 $25M $314.28 $5M -4,605 -5.4%
52 IBM 0.58% 75,339 $22M $296.47 $1M
53 HD 0.58% 64,302 $22M $345.55 -$4M
54 IBP 0.56% 82,848 $21M $258.84 $4M +13,905 +20.2%
55 T 0.55% 847,357 $21M $24.94 -$3M
56 AMAT 0.54% 81,063 $21M $256.23 $4M
57 WMB 0.52% 333,234 $20M $60.15 -$1M
58 WBD 0.52% 694,932 $20M $28.84 $6M
59 MRK 0.52% 190,238 $20M $105.19 $4M
60 MU 0.51% 68,962 $20M $285.43 $8M
61 ADBE 0.49% 53,810 $19M $350.83 -$9M -26,138 -32.7%
62 STLD 0.46% 104,541 $18M $169.11 $3M
63 EQIX 0.45% 22,503 $17M $767.15 $1M +1,805 +8.7%
64 PG 0.44% 116,244 $17M $143.82 -$1M
65 QCOM 0.43% 96,161 $16M $171.48 $492K
66 UNH 0.42% 48,730 $16M $330.83 -$25M -68,911 -58.6%
67 VZ 0.40% 375,497 $15M $40.92 -$1M
68 URI 0.39% 18,539 $15M $811.81 -$3M
69 PH 0.38% 16,739 $15M $881.77 $2M
70 ASR 0.38% 45,902 $15M $321.32 $2M +5,248 +12.9%
71 BK 0.37% 121,682 $14M $116.46 $913K
72 AXP 0.35% 36,256 $13M $371.19 +36,256 NEW
73 OMAB 0.35% 123,968 $13M $107.50 $450K
74 NUE 0.33% 77,627 $13M $162.30 $2M
75 LOW 0.32% 50,895 $12M $241.70 -$489K
76 EPD 0.30% 359,963 $12M $32.01 $266K
77 PPL 0.30% 324,754 $11M $35.14 -$654K
78 INTC 0.29% 304,713 $11M $36.99 $1M
79 LLY 0.29% 10,451 $11M $1,078.18 $3M
80 ALL 0.28% 52,294 $11M $209.04 -$293K
81 F-PD 0.28% 816,282 $11M $13.16 $975K
82 AMP 0.27% 21,374 $11M $492.69 $31K
83 MDLZ 0.27% 188,734 $10M $54.07 -$2M
84 PFE 0.26% 401,134 $10M $24.95 -$213K
85 AFL 0.26% 89,565 $10M $110.65 -$94K
86 AMGN 0.25% 29,841 $10M $327.84 $1M
87 MELI 0.25% 4,755 $10M $2,016.92 +4,755 NEW
88 EXC 0.25% 216,711 $9M $43.71 -$282K
89 UBER 0.25% 115,168 $9M $81.85 +115,168 NEW
90 CRH.L 0.24% 74,967 $9M $125.15 $394K
91 CMCSA 0.24% 311,422 $9M $29.91 -$472K
92 LRCX 0.24% 53,433 $9M $170.95 $2M
93 V 0.24% 25,796 $9M $351.63 $264K
94 DRTSW 0.24% 166,836 $9M $54.30 $963K
95 CI 0.24% 32,735 $9M $276.06 -$399K
96 ADI 0.23% 32,967 $9M $272.38 $879K
97 BAC 0.23% 162,734 $9M $55.10 $571K
98 ABT 0.23% 70,035 $9M $125.61 -$583K
99 ATO 0.22% 49,500 $8M $167.61 -$155K
100 CBRE 0.21% 50,913 $8M $161.49 $200K

New Positions

SymbolValue% Port
EFX $28M 0.73%
PAC $26M 0.68%
AXP $13M 0.35%
MELI $10M 0.25%
UBER $9M 0.25%
Q $2M 0.06%

Sold Out Positions

SymbolValue% Port
EMR —%
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