13F HOLDINGS REPORT
Fisher Funds Management LTD
Quarter ended Q4 2025 · Filed January 26, 2026 · Accession 0001435028-26-000002
Total Value
$3.87B
Positions
166
Other Managers
0
Confidential Omitted
No
Holdings (166)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | MICROSOFT CORP | MSFT | 445,659 | $216.0M | 5.58% |
| 2 | AMAZON COM INC | AMZN | 683,197 | $157.9M | 4.08% |
| 3 | ALPHABET INC | GOOG | 440,524 | $138.1M | 3.56% |
| 4 | META PLATFORMS INC | META | 178,531 | $118.0M | 3.05% |
| 5 | MASTERCARD INCORPORATED | MA | 177,303 | $101.6M | 2.62% |
| 6 | NVIDIA CORP | NVDA | 538,479 | $101.0M | 2.61% |
| 7 | ICON PLC | ICLR | 513,102 | $93.2M | 2.41% |
| 8 | DANAHER CORPORATION | 235851102 | 397,715 | $91.2M | 2.36% |
| 9 | APPLE INC | AAPL | 334,785 | $91.2M | 2.35% |
| 10 | OLD DOMINION FREIGHT LINE IN | ODFL | 538,799 | $85.0M | 2.20% |
| 11 | DEXCOM INC | DXCM | 1,218,848 | $81.1M | 2.09% |
| 12 | AVAGO TECHNOLOGIES LTD | AVGO | 225,044 | $78.2M | 2.02% |
| 13 | SALESFORCE COM INC | CRM | 282,465 | $74.9M | 1.93% |
| 14 | ZOETIS INC | ZTS | 569,266 | $71.8M | 1.85% |
| 15 | MSCI INC | MSCI | 113,733 | $65.6M | 1.69% |
| 16 | EDWARD LIFESCIENCES CORP | EW | 761,899 | $65.1M | 1.68% |
| 17 | JPMORGAN CHASE & CO | VYLD | 199,186 | $64.4M | 1.66% |
| 18 | INTUITIVE SURGICAL INC | ISRG | 110,764 | $63.1M | 1.63% |
| 19 | NETFLIX INC | NFLX | 622,895 | $58.5M | 1.51% |
| 20 | FLOOR & DECOR HLDGS INC | FND | 890,936 | $54.5M | 1.41% |
| 21 | ATLASSIAN CORP PLC | TEAM | 334,011 | $54.4M | 1.41% |
| 22 | AMERICAN TOWER CORP NEW | 03027X100 | 287,681 | $50.7M | 1.31% |
| 23 | KKR & CO INC | KKRT | 390,887 | $49.9M | 1.29% |
| 24 | NEXTERA ENERGY INC | NEE-PW | 619,640 | $49.9M | 1.29% |
| 25 | HCA HOLDINGS INC | HCA | 92,756 | $43.3M | 1.12% |
| 26 | GARTNER INC | IT | 162,614 | $41.3M | 1.07% |
| 27 | ASML HOLDING N V | ASMLF | 35,905 | $38.5M | 0.99% |
| 28 | KINDER MORGAN INC DEL | EP-PC | 1,395,269 | $38.4M | 0.99% |
| 29 | TRADEWEB MKTS INC | 892672106 | 348,380 | $37.7M | 0.97% |
| 30 | PROGRESSIVE CORP OHIO | 743315103 | 158,416 | $36.3M | 0.94% |
| 31 | MARTIN MARIETTA MATLS INC | 573284106 | 57,950 | $36.3M | 0.94% |
| 32 | GALLAGHER ARTHUR J & CO | 363576109 | 137,840 | $36.0M | 0.93% |
| 33 | FERGUSON ENTERPRISES INC | FERG | 160,428 | $35.8M | 0.92% |
| 34 | CMS ENERGY CORP | CMS-PC | 508,558 | $35.6M | 0.92% |
| 35 | BOSTON SCIENTIFIC CORP | BSX | 370,577 | $35.5M | 0.92% |
| 36 | NIKE INC | NKE | 547,474 | $34.9M | 0.90% |
| 37 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 64,785 | $32.7M | 0.84% |
| 38 | JOHNSON & JOHNSON | JNJ | 156,053 | $32.3M | 0.83% |
| 39 | CISCO SYS INC | CSCO | 409,822 | $31.7M | 0.82% |
| 40 | ABBVIE INC | ABBV | 129,479 | $29.7M | 0.77% |
| 41 | HUMANA INC | HUM | 113,467 | $29.3M | 0.76% |
| 42 | MCKESSON CORP | MCK | 34,969 | $28.8M | 0.74% |
| 43 | ORACLE CORP | ORCL-PD | 146,578 | $28.7M | 0.74% |
| 44 | WASTE CONNECTIONS INC | WCN | 159,613 | $28.2M | 0.73% |
| 45 | CROWN CASTLE INC | CCI | 316,014 | $28.1M | 0.73% |
| 46 | EQUIFAX INC | EFX | 128,154 | $27.9M | 0.72% |
| 47 | COSTCO WHSL CORP NEW | 22160K105 | 31,698 | $27.4M | 0.71% |
| 48 | CANADIAN PAC RY LTD | CP | 362,901 | $26.8M | 0.69% |
| 49 | UNION PACIFIC CORP | UNP | 115,129 | $26.7M | 0.69% |
| 50 | DEERE & CO | DE | 56,116 | $26.3M | 0.68% |
| 51 | GRUPO AEROPUERTO DEL PACIFIC | 400506101 | 99,446 | $25.9M | 0.67% |
| 52 | ALPHABET INC | GOOG | 80,069 | $25.2M | 0.65% |
| 53 | INTERNATIONAL BUSINESS MACHS | INTR | 75,339 | $22.3M | 0.58% |
| 54 | HOME DEPOT INC | HD | 64,302 | $22.2M | 0.57% |
| 55 | INSTALLED BLDG PRODS INC | 45780R101 | 82,848 | $21.4M | 0.55% |
| 56 | AT&T INC | T-PC | 847,357 | $21.1M | 0.55% |
| 57 | APPLIED MATLS INC | 038222105 | 81,063 | $20.8M | 0.54% |
| 58 | WILLIAMS COS INC | 969457100 | 333,234 | $20.0M | 0.52% |
| 59 | WARNER BROS DISCOVERY INC | WBD | 694,932 | $20.0M | 0.52% |
| 60 | MERCK & CO INC | MRK | 190,238 | $20.0M | 0.52% |
| 61 | MICRON TECHNOLOGY INC | MU | 68,962 | $19.7M | 0.51% |
| 62 | ADOBE INC | ADBE | 53,810 | $18.9M | 0.49% |
| 63 | STEEL DYNAMICS INC | STLD | 104,541 | $17.7M | 0.46% |
| 64 | EQUINIX INC | EQIX | 22,503 | $17.3M | 0.45% |
| 65 | PROCTER & GAMBLE CO | 742718109 | 116,244 | $16.7M | 0.43% |
| 66 | QUALCOMM INC | QCOM | 96,161 | $16.5M | 0.43% |
| 67 | UNITEDHEALTH GROUP INC | UNH | 48,730 | $16.1M | 0.42% |
| 68 | VERIZON COMMUNICATIONS INC | VZ | 375,497 | $15.4M | 0.40% |
| 69 | UNITED RENTALS INC | URI | 18,539 | $15.1M | 0.39% |
| 70 | PARKER HANNIFIN CORP | PH | 16,739 | $14.8M | 0.38% |
| 71 | GRUPO AEROPORTUARIO DEL SURE | 40051E202 | 45,902 | $14.7M | 0.38% |
| 72 | BANK NEW YORK MELLON CORP | 064058100 | 121,682 | $14.2M | 0.37% |
| 73 | AMERICAN EXPRESS CO | AXP | 36,256 | $13.5M | 0.35% |
| 74 | GRUPO AEROPORTUARIO DEL CENT | 400501102 | 123,968 | $13.3M | 0.34% |
| 75 | NUCOR CORP | NUE | 77,627 | $12.6M | 0.33% |
| 76 | LOWES COS INC | 548661107 | 50,895 | $12.3M | 0.32% |
| 77 | ENTERPRISE PRODS PARTNERS L | 293792107 | 359,963 | $11.5M | 0.30% |
| 78 | PPL CORP | PPLC | 324,754 | $11.4M | 0.29% |
| 79 | INTEL CORP | INTC | 304,713 | $11.3M | 0.29% |
| 80 | ELI LILLY & CO | LLY | 10,451 | $11.3M | 0.29% |
| 81 | ALLSTATE CORP | ALL-PJ | 52,294 | $10.9M | 0.28% |
| 82 | FORD MTR CO | 345370860 | 816,282 | $10.7M | 0.28% |
| 83 | AMERIPRISE FINL INC | 03076C106 | 21,374 | $10.5M | 0.27% |
| 84 | MONDELEZ INTL INC | 609207105 | 188,734 | $10.2M | 0.26% |
| 85 | PFIZER INC | PFE | 401,134 | $10.0M | 0.26% |
| 86 | AFLAC INC | AFL | 89,565 | $9.9M | 0.26% |
| 87 | AMGEN INC | AMGN | 29,841 | $9.8M | 0.25% |
| 88 | MERCADOLIBRE INC | MELI | 4,755 | $9.6M | 0.25% |
| 89 | EXELON CORP | EXC | 216,711 | $9.5M | 0.24% |
| 90 | UBER TECHNOLOGIES INC | UBER | 115,168 | $9.4M | 0.24% |
| 91 | CRH PLC | CRH | 74,967 | $9.4M | 0.24% |
| 92 | COMCAST CORP NEW | CCZ | 311,422 | $9.3M | 0.24% |
| 93 | LAM RESEARCH CORP | LRCX | 53,433 | $9.1M | 0.24% |
| 94 | VISA INC | V | 25,796 | $9.1M | 0.23% |
| 95 | AMRIZE LTD | DRTSW | 166,836 | $9.1M | 0.23% |
| 96 | CIGNA CORPORATION | 125523100 | 32,735 | $9.0M | 0.23% |
| 97 | ANALOG DEVICES INC | ADI | 32,967 | $9.0M | 0.23% |
| 98 | BANK AMER CORP | 060505104 | 162,734 | $9.0M | 0.23% |
| 99 | ABBOTT LABS | ABLZF | 70,035 | $8.8M | 0.23% |
| 100 | ATMOS ENERGY CORP | ATO | 49,500 | $8.3M | 0.21% |
| 101 | CBRE GROUP INC | CBRE | 50,913 | $8.2M | 0.21% |
| 102 | CVS HEALTH CORP | CVS | 103,095 | $8.2M | 0.21% |
| 103 | TE CONNECTIVITY PLC | TEL | 35,377 | $8.1M | 0.21% |
| 104 | ELEVANCE HEALTH INC | ELV | 21,492 | $7.5M | 0.19% |
| 105 | NEWMONT MINING CORP | NEMCL | 74,619 | $7.5M | 0.19% |
| 106 | GILEAD SCIENCES INC | GILD | 59,571 | $7.3M | 0.19% |
| 107 | TRAVELERS COMPANIES INC | TRV | 25,120 | $7.3M | 0.19% |
| 108 | JOHNSON CTLS INTL PLC | G51502105 | 57,672 | $6.9M | 0.18% |
| 109 | WABTEC | 929740108 | 32,238 | $6.9M | 0.18% |
| 110 | EBAY INC | EBAY | 72,684 | $6.3M | 0.16% |
| 111 | PNC FINL SVCS GROUP INC | 693475105 | 28,263 | $5.9M | 0.15% |
| 112 | COCA-COLA EUROPACIFIC PARTNE | CCEP | 64,709 | $5.9M | 0.15% |
| 113 | VERTEX PHARMACEUTICALS INC | VRTX | 12,898 | $5.9M | 0.15% |
| 114 | CATERPILLAR INC DEL | CAT | 10,023 | $5.7M | 0.15% |
| 115 | SEMPRA ENERGY | SREA | 64,547 | $5.7M | 0.15% |
| 116 | 3M CO | MMM | 34,510 | $5.5M | 0.14% |
| 117 | MEDTRONIC PLC | MDT | 55,772 | $5.4M | 0.14% |
| 118 | BLACKROCK INC | BLK | 4,897 | $5.3M | 0.14% |
| 119 | D R HORTON INC | 23331A109 | 34,418 | $5.0M | 0.13% |
| 120 | KEYSIGHT TECHNOLOGIES INC | KEYS | 23,995 | $4.9M | 0.13% |
| 121 | ON SEMICONDUCTOR CORP | ON | 87,729 | $4.8M | 0.12% |
| 122 | ELECTRONIC ARTS INC | EA | 22,923 | $4.7M | 0.12% |
| 123 | HILTON WORLDWIDE HLDGS INC | HLT | 16,001 | $4.6M | 0.12% |
| 124 | S&P GLOBAL INC | SPGI | 8,667 | $4.5M | 0.12% |
| 125 | LYONDELLBASELL INDUSTRIES N | LYB | 92,363 | $4.0M | 0.10% |
| 126 | DOVER CORP | DOV | 18,657 | $3.7M | 0.09% |
| 127 | CORPAY INC | CPAY | 11,751 | $3.6M | 0.09% |
| 128 | DOLLAR TREE INC | DLTR | 28,626 | $3.5M | 0.09% |
| 129 | LINDE PLC | LIN | 7,991 | $3.4M | 0.09% |
| 130 | AMERICAN WTR WKS CO INC NEW | 030420103 | 24,871 | $3.3M | 0.08% |
| 131 | BECTON DICKINSON & CO | BDX | 16,545 | $3.2M | 0.08% |
| 132 | TYSON FOODS INC | TSN | 53,316 | $3.1M | 0.08% |
| 133 | UNITED PARCEL SERVICE INC | UPS | 31,258 | $3.1M | 0.08% |
| 134 | CORTEVA INC | CTVA | 43,937 | $2.9M | 0.08% |
| 135 | CONSTELLATION BRANDS INC | STZ | 21,311 | $2.9M | 0.08% |
| 136 | BEST BUY INC | BBY | 41,103 | $2.8M | 0.07% |
| 137 | BLOCK INC | BSQKZ | 41,857 | $2.7M | 0.07% |
| 138 | DOW INC | DOW | 115,112 | $2.7M | 0.07% |
| 139 | KEURIG DR PEPPER INC | KDP | 93,252 | $2.6M | 0.07% |
| 140 | NORFOLK SOUTHERN CORP | 655844108 | 8,885 | $2.6M | 0.07% |
| 141 | QNITY ELECTRONICS | Q | 29,366 | $2.4M | 0.06% |
| 142 | DUPONT DE NEMOURS INC | DD | 58,733 | $2.4M | 0.06% |
| 143 | DISNEY WALT CO | 254687106 | 20,165 | $2.3M | 0.06% |
| 144 | KIMBERLY CLARK CORP | KMB | 21,593 | $2.2M | 0.06% |
| 145 | FISERV INC | FISV | 32,022 | $2.2M | 0.06% |
| 146 | MCDONALDS CORP | MCD | 6,511 | $2.0M | 0.05% |
| 147 | PAYPAL HLDGS INC | PYPL | 33,417 | $2.0M | 0.05% |
| 148 | APTIV PLC | APTV | 24,930 | $1.9M | 0.05% |
| 149 | EQUITY RESIDENTIAL | EQR | 27,824 | $1.8M | 0.05% |
| 150 | DELTA AIR LINES INC DEL | DAL | 22,548 | $1.6M | 0.04% |
| 151 | MOLINA HEALTHCARE INC | MOH | 8,810 | $1.5M | 0.04% |
| 152 | VERTIV HOLDINGS CO | VRT | 9,298 | $1.5M | 0.04% |
| 153 | CITIGROUP INC | C-PR | 12,635 | $1.5M | 0.04% |
| 154 | MORGAN STANLEY | MS-PQ | 8,134 | $1.4M | 0.04% |
| 155 | WELLS FARGO CO NEW | 949746101 | 15,395 | $1.4M | 0.04% |
| 156 | GOLDMAN SACHS GROUP INC | GSCE | 1,622 | $1.4M | 0.04% |
| 157 | CAPITAL ONE FINL CORP | 14040H105 | 5,834 | $1.4M | 0.04% |
| 158 | MARVELL TECHNOLOGY INC | MRVL | 16,453 | $1.4M | 0.04% |
| 159 | ADVANCED MICRO DEVICES | AMD | 6,519 | $1.4M | 0.04% |
| 160 | HEWLETT PACKARD ENTERPRISE C | HPE-PC | 53,694 | $1.3M | 0.03% |
| 161 | INTERACTIVE BROKERS GROUP IN | 45841N107 | 19,810 | $1.3M | 0.03% |
| 162 | NXP SEMICONDUCTORS NV | NXPI | 5,775 | $1.3M | 0.03% |
| 163 | DELL TECHNOLOGIES INC | DELL | 9,862 | $1.2M | 0.03% |
| 164 | KLA CORP | KLAC | 978 | $1.2M | 0.03% |
| 165 | ROYAL CARIBBEAN GROUP | V7780T103 | 3,971 | $1.1M | 0.03% |
| 166 | VISTRA CORP | VST | 6,334 | $1.0M | 0.03% |