Fisher Asset Management Portfolio holdings
Fisher Asset Management, LLC, operating as Fisher Investments, was founded in 1979 by Ken Fisher and is headquartered in Plano, Texas, following a relocation from Camas, Washington, in 2023. As an independent, fee-only investment adviser, it manages over $275 billion in assets for individual and institutional investors globally as of June 2024, offering tailored portfolio management through its Private Client Group and Institutional Group. Known for its active, top-down investment approach guided by a five-member Investment Policy Committee, the firm emphasizes asset allocation and has expanded internationally with offices in eight countries, including a wholly owned subsidiary, Fisher Investments Europe Limited, in London. With Ken Fisher as executive chairman and co-chief investment officer, succeeded as CEO by Damian Ornani in 2016, Fisher Investments blends a legacy of innovation with a client-first philosophy, recently spinning off its 401(k) Solutions into Fisher Retirement Solutions in 2024.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$808M |
| 2 |
Amazon
AMZN
|
+$805M |
| 3 |
DocuSign
DOCU
|
+$696M |
| 4 |
Intuit
INTU
|
+$684M |
| 5 |
Meta Platforms (Facebook)
META
|
+$662M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walmart Inc
WMT
|
+$1.14B |
| 2 |
Walt Disney
DIS
|
+$959M |
| 3 |
Intel
INTC
|
+$891M |
| 4 |
UnitedHealth
UNH
|
+$704M |
| 5 |
Visa
V
|
+$609M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.05% |
| 2 | Miscellaneous | 15.63% |
| 3 | Healthcare | 10.8% |
| 4 | Financials | 10.19% |
| 5 | Consumer Discretionary | 9.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Apple
AAPL
$4.91T
| $11.4B | 6.36% |
63,982,104
+3,096,696
| +5% | +$489M |
2013 Q2
34 quarters
|
|
2
Microsoft
MSFT
$3.97T
| $9.03B | 5.06% |
26,844,732
+1,320,202
| +5% | +$428M |
2013 Q2
34 quarters
|
|
|
3
Amazon
AMZN
$2.83T
| $7.22B | 4.05% |
43,326,360
+4,703,240
| +12% | +$805M |
2013 Q2
34 quarters
|
|
4
Alphabet (Google) Class A
GOOGL
$4.3T
| $5.63B | 3.15% |
38,858,940
+2,109,340
| +6% | +$304M |
2015 Q4
24 quarters
|
|
5
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$67.7B
| $5.6B | 3.13% |
60,337,625
+5,038,665
| +9% | +$472M |
2013 Q2
34 quarters
|
|
6
Adobe
ADBE
$94.3B
| $3.82B | 2.14% |
6,739,460
+304,991
| +5% | +$191M |
2018 Q3
13 quarters
|
|
7
Salesforce
CRM
$189B
| $3.7B | 2.07% |
14,565,099
+655,371
| +5% | +$184M |
2015 Q3
25 quarters
|
|
8
ASML
ASML
$684B
| $3.4B | 1.91% |
4,274,804
+173,677
| +4% | +$138M |
2013 Q2
34 quarters
|
|
|
9
Visa
V
$724B
| $3.36B | 1.88% |
15,500,002
-2,837,599
| -15% | -$609M |
2013 Q2
34 quarters
|
|
|
10
Netflix
NFLX
$293B
| $3.27B | 1.83% |
54,258,040
+12,652,190
| +30% | +$808M |
2017 Q1
19 quarters
|
|
11
Home Depot
HD
$290B
| $3.25B | 1.82% |
7,830,978
+346,970
| +5% | +$132M |
2013 Q2
34 quarters
|
|
|
12
Meta Platforms (Facebook)
META
$1.83T
| $3.22B | 1.81% |
9,584,517
+1,993,840
| +26% | +$662M |
2014 Q1
31 quarters
|
|
13
TSMC
TSM
$2.35T
| $3.12B | 1.75% |
25,937,073
+557,498
| +2% | +$65.3M |
2013 Q2
34 quarters
|
|
14
Advanced Micro Devices
AMD
$993B
| $2.87B | 1.61% |
19,956,550
+4,177,219
| +26% | +$562M |
2020 Q1
7 quarters
|
|
15
PayPal
PYPL
$47.5B
| $2.73B | 1.53% |
14,468,988
+2,476,199
| +21% | +$536M |
2015 Q3
25 quarters
|
|
16
American Express
AXP
$208B
| $2.58B | 1.44% |
15,745,967
+121,632
| +0.8% | +$20.7M |
2013 Q2
34 quarters
|
|
17
Costco
COST
$420B
| $2.31B | 1.29% |
4,070,600
+183,387
| +5% | +$93.9M |
2014 Q3
29 quarters
|
|
18
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$27.6B
| $2.21B | 1.24% |
16,684,772
+389,243
| +2% | +$51.7M |
2013 Q2
34 quarters
|
|
19
Freeport-McMoran
FCX
$106B
| $2.04B | 1.14% |
48,853,445
+1,864,521
| +4% | +$70.8M |
2018 Q2
14 quarters
|
|
20
Eli Lilly
LLY
$1.05T
| $1.93B | 1.08% |
6,982,910
+470,522
| +7% | +$119M |
2013 Q4
32 quarters
|
|
21
Novo Nordisk
NVO
$171B
| $1.79B | 1% |
31,877,862
-473,216
| -1% | -$25.6M |
2013 Q2
34 quarters
|
|
22
Alibaba
BABA
$277B
| $1.69B | 0.94% |
14,188,423
-22,577
| -0.2% | -$3.29M |
2015 Q2
26 quarters
|
|
23
Mastercard
MA
$516B
| $1.62B | 0.9% |
4,495,374
+88,423
| +2% | +$30.6M |
2013 Q2
34 quarters
|
|
24
Intuitive Surgical
ISRG
$150B
| $1.55B | 0.87% |
4,313,145
+209,022
| +5% | +$71.9M |
2018 Q1
15 quarters
|
|
25
NVIDIA
NVDA
$5.54T
| $1.5B | 0.84% |
51,154,310
+2,718,350
| +6% | +$74.8M |
2017 Q4
16 quarters
|
|
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Fisher Asset Management's Q4 2021 Portfolio in Review
As of Q4 2021, Fisher Asset Management held 1,147 positions worth $179B, up 11% from $161B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Fisher Asset Management deployed $7.67B of net new capital in Q4 2021, opening 119 new positions and adding to 524 existing holdings. Its largest new stake was DocuSign: 3,052,026 shares worth $465M.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 27% a quarter earlier, followed by Miscellaneous and Healthcare.
On the sell side, the largest reduction was Walmart Inc, an estimated $1.14B trimmed.
- Fisher Asset Management's largest Q4 2021 buy was DocuSign: 3,052,026 shares worth $465M.
- Fisher Asset Management added most to Netflix in Q4 2021, an estimated $808M increase.
- Fisher Asset Management's biggest Q4 2021 reduction was Walmart Inc, cutting an estimated $1.14B.
- Fisher Asset Management fully exited Kansas City Southern in Q4 2021, selling an estimated $64.7M.
- Fisher Asset Management's ten largest holdings make up 32% of its $179B portfolio in Q4 2021.
- Fisher Asset Management opened 119 new positions and closed 80 in Q4 2021.
- Fisher Asset Management's portfolio value rose 11% quarter-over-quarter to $179B.
Based on Fisher Asset Management's 13F filing for Q4 2021, filed 2 Feb 2022.